The Investing and Saving Alliance’s Renny Biggins is calling on employers to help staff consider all options before stopping pension contributions, as the cost of living crisis takes a toll on savers’ finances.

As Pension Awareness Week unfolds, The Investing and Saving Alliance’s head of retirement, Renny Biggins, warns that schemes need to increase engagement with their members as delays to auto-enrolment changes are to be expected.

The government’s policy in regards to auto-enrolment and the money purchase annual allowance needs to be reviewed to avoid pension poverty, warns Renny Biggins, head of retirement at The Investing and Saving Alliance.

From the blog: Life expectancy is on the increase and with it people’s appetite for working longer. The range of flexible decumulation options is also growing.

But one of the knock-on effects is that it increases the volume of benefit crystallisation events at age 75.

Isn’t it time to raise this age threshold to potentially reduce the number of BCEs and allow people to benefit from tax relief on pension contributions post 75?

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