All Retirement articles – Page 19
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News
Improved engagement more urgent than product innovation, says PPI
Savers can achieve positive outcomes with the range of products already available to them, according to a Pensions Policy Institute report emphasising the importance of engagement in helping people make more informed decisions.
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OpinionBoost innovation and understanding
There needs to be a shift in public policy to create a savings culture and boost understanding, argues Lesley Carline, vice-president of the Pensions Management Institute.
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News
PLSA pushes for retirement income targets and AE increases
The Pensions and Lifetime Savings Association has set out its final recommendations from its ‘Hitting the Target’ consultation, calling for an increase in minimum auto-enrolment contributions to 12 per cent, and the introduction of retirement income targets.
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OpinionWhat can be done to address ‘survival pessimism’ in pensions?
Club Vita’s Nick Chadwick and Erik Pickett discuss the role of the pensions industry and government in communicating the uncertainty in future lifespans and designing products that help people manage this risk.
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News
Government rejects calls for default decumulation pathways
The government has rejected the Work and Pensions Committee’s recommendation for default decumulation pathways, but has agreed that there is a strong case for pensions dashboard compulsion.
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OpinionDefault pathways strengthen freedom and choice, not weaken it
Members should always be encouraged to make an active choice about their retirement income, but we know not everyone will. Government should therefore provide clear principles to govern the creation of good-value defaults, says the Pension and Lifetime Savings Association’s Nigel Peaple.
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News
Pensioners underspending and bequeathing most wealth on death
Many older people are underspending in retirement, and are set to bequeath the majority of their wealth to younger generations instead, according to research by the Institute for Fiscal Studies.
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Opinion
DC Debate Q2: Deferred annuities, retirement expectations and more
Five defined contribution experts talk about deferred annuity products, retirement expectations, and how the industry is adapting to people’s changing work patterns.
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OpinionMistakes of annuity regime are being repeated
From the blog: The willingness of government and regulators to take a pragmatic approach to so-called pensions freedom will be tested over the next few weeks.
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Opinion
DC Debate Q2: Default retirement pathways, flexibility and guidance
Five defined contribution experts discuss default pathways, striking a balance between flexibility and secure income, and the importance of guidance at retirement.
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OpinionWho pays for the pension shortfall?
From the blog: The gold-plated pensions generation owes it to the next to create an equitable and sustainable way of providing for income in retirement.
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News
Smart Pension and L&G to develop first default retirement pathway
Default retirement pathways could become a feature of the UK pensions system as early as next year, as Smart Pension and Legal & General announce plans to develop a product combining drawdown and annuities.
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OpinionInaction on retirement defaults puts members at risk
From the blog: When discussing retirement pathways, the industry needs to ask itself two key questions: what is the goal of auto-enrolment, and what does success look like?
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Features
Has the industry kept its promise on at-retirement innovation?
Analysis: When the Department for Work and Pensions allowed the industry to block mastertrust Nest from entering the drawdown market in 2017, it did so with a proviso; the industry had to drive innovation itself.
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Opinion
Has auto-enrolment come of age?
Since its inception almost six years ago, auto-enrolment has succeeded in relying on inertia to help more people save for retirement, that much is clear. Uncertainty and a need to build on this success, however, remain.
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News
Default drawdown tops select committee's at-retirement wishlist
Providers of drawdown products should be required to develop charge-capped default products to help disengaged savers make their pension last, the Work and Pensions Committee has recommended.
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News
TUC cautions over ‘pensions lottery’
The Trades Union Congress has today said that workers face a “pensions lottery” upon retirement.
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FeaturesDelivering the ill health pension
Any other business: Illness is an unconventional path to a pension transfer. But for the thousands of employees every year rendered unable to work through sickness, surviving financially through the mercy of an early pension might make all the difference.
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News
Third wave of strike action called at Fujitsu
IT giant Fujitsu is set to dismiss a union representative who has previously spoken out against changes made to the company's pension provision, sparking a third wave of strike action by employees.
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OpinionPension freedoms need added support for savers
We all enjoy having control over our financial future, writes Nest’s Gavin Perera-Betts, but introducing default retirement pathways could be the surprise present we need most this year.