With more pensions-related legislation predicted next year, a new report from the Society of Pension Professionals has highlighted six priorities for policymakers, regulators and the pensions industry to consider.
The UK has slipped two places in an international ranking of pension systems, with researchers calling for higher retirement savings and wider auto-enrolment coverage to improve long-term sustainability.
With pension adequacy at the forefront of industry reforms, Railpen’s Jonathan Clark urges policymakers not to forget the vital role played by open defined benefit pension schemes for millions of people across the UK.
Only 53% of women feel positive about their later years, according to research from Smart Pension
UK adults believe they need more than £42,000 a year after tax to feel financially secure in retirement, but many expect to work for longer – and increasingly see retirement as a gradual transition rather than a hard stop.
Raising minimum auto-enrolment contribution rates requires a more nuanced approach and can’t be one-size-fits-all, writes Heidi Karjalainen of the Institute for Fiscal Studies.
Many individuals expect to rely increasingly on their own investments and are losing confidence in retirement savings, according to international research by Amundi.
The parliamentary committee has launched an inquiry that will seek to inform the work of the Pensions Commission around low earners and pension saving.
Former pensions minister Paul Maynard opines on Torsten Bell’s reappointment and what it means for the multi-faceted UK pension reform ‘roadmap’.
Gendered working patterns have the biggest impact on the divide, reducing the median pension wealth of women aged 55 to 59 by 39% relative to men.
Steve Thomas, deputy general secretary of the trade union Prospect, says it is not enough just to encourage more saving among self-employed people – they need a sustainable, affordable way to do so.
A Royal London survey estimates that six million people don’t know how they will pay their rent or mortgage in retirement, as evidence mounts of the impending housing crisis for future pensioners.
The debate over automatic enrolment reform highlights the difficulty of improving retirement outcomes for low earners. As fresh analysis from the Pensions Policy Institute makes clear, even widely supported changes involve trade-offs.
Roberto Marrocco of the Association of British Insurers looks at the easy wins for the Pensions Commission and the harder questions it faces.