How fintech could future-proof pension funds
Workplace pensions have been slow to join the financial technology revolution, lagging banking and insurance in areas such as data and analytics, according to research.
The 2017/18 Rewards and Employee Benefits Association (REBA) Technology Survey says that pension schemes have focused on adopting cloud-based platforms in the run-up to auto-enrolment. But schemes say they want to start adopting more advanced technology now, including their top priority personalisation, integration with other rewards platforms and advanced analytics.
Three quarters of employers now use a cloud-based pensions platform or off-site hosted software. Some are now looking to catch up on the latest technology to improve income modelling, encourage staff to increase contributions and guide them towards retirement.
Read More: Raconteur
