April 2022
06Apr

UK. Most auto-enrolment pension savers and employers are still anchored to the minimum rate

It’s nearly 10 years since automatic enrolment was launched amid great fanfare; TV adverts featuring famous bosses such as Baroness Brady and Theo Paphitis were part of a huge Government drive which has seen 10.6 million workers enrol in a workplace pension scheme, saving an additional £28.5bn towards their futures. Despite this rip-roaring success, there remains the question of whether the average auto-enrolment member is saving enough for the retirement they want. The Pension Commission, which paved the way for auto-enrolment,...

April 6, 2022
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UK. How to prepare for the Pension Schemes Act
05Apr

UK. How to prepare for the Pension Schemes Act

New pension regulations will come into force this year. What will they mean for trustees, employers and savers? Further provisions of the Pension Schemes Act 2021 are set to come into force in 2022, aimed at protecting the retirement funds of savers in defined benefit (DB) pension schemes. What will this mean for trustees, employers and savers, and how can they prepare? The new notifiable events regime is the most pressing agenda item for scheme trustees and employers in their role...

April 5, 2022
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04Apr

UK. Majority of young savers adverse to risk in their pensions

Just over a quarter (26 per cent) of savers aged 18-30 feel they can afford to take on some risk with their pensions, even though they are many years away from retirement, new analysis from PensionBee has revealed. The survey, which included responses from over 500 British savers, discovered that only 7 per cent of young savers reported that they were currently invested in a high-risk pension scheme, despite having the longest time horizon to recoup any losses. PensionBee also found...

April 4, 2022
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March 2022
31Mar

Class of 2022

By abrdn Our second iteration of the Class of report series paints a picture of what the Class of 2022 have in store for their retirement – from how they plan to spend their time to how prepared they are forwhat is to come. We’ve also spoken to those who retired in 2021 to see how they’ve got on in their first year of retirement and if there’s anything they’d do differently. The Class of series surveys 2,000 UK adults who are...

March 31, 2022
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31Mar

UK. Flexi-retirement increasingly common due to gig economy

Flexi-retirement is becoming increasingly common, as more and more retirees are opting to work part-time in the gig economy. According to a new report from Abrdn, two thirds of people retiring in 2022 do not plan on giving up work completely. This compares to just over half of those who retired in 2021 and a third of 2020 retirees. The report, which surveyed 2,000 UK adults, reveals how the “class of 2022” plan to spend their and money in retirement. A quarter said...

March 31, 2022
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Climate campaigners condemn award to East Sussex Pension Fund
31Mar

Climate campaigners condemn award to East Sussex Pension Fund

Climate campaigners have condemned the decision to give an award for ‘LGPS [Local Government Pension Scheme] Fund of the Year’ to the East Sussex Pension Fund, saying that the Fund has failed one of the most basic litmus tests for such an award: namely, a public commitment to fully divest from the giant fossil fuel (oil, coal and gas) companies that are driving the climate crisis. The award was bestowed at the ‘LAPF [Local Authority Pension Fund] Investments Awards’...

March 31, 2022
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29Mar

UK. Opperman calls for industry input on CDC expansion

Pensions minister Guy Opperman has called on the industry to work with government on expanding the nascent collective defined contribution market, though experts have previously warned that draft regulations are too strict to allow for real growth in the sector. Speaking at a Royal Society of Arts CDC forum on March 28, Opperman expanded on the draft regulations due to come into force on August 1, and expressed his support for the expansion of CDC beyond the single-employer arrangements currently...

March 29, 2022
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25Mar

Global Pension Risk Survey 2021/22. UK survey findings. The DB pension risk management journey

By AON We have been carrying out the Global Pension Risk Survey every two years for over a decade and it gives the industry great insight into how the pensions landscape has developed. When the COVID-19 pandemic hit in early 2020, it created many challenges for sponsors, pension schemes and their members. We saw sponsors and trustees reassessing the risks that they faced. While the impact was not negative for all pension schemes, there was a large market crash which had a...

March 25, 2022
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UK. Investment approach is increasingly key to pension endgames
25Mar

UK. Investment approach is increasingly key to pension endgames

Aon has said that with 2022 promising to be another active year in the UK pension risk settlement market, an increasing number of schemes are focusing on their investment approach in the bid to be ‘settlement ready’. Aon’s recently released Global Pension Risk Survey 2021/22 showed that more UK defined benefit (DB) pension schemes are now opting for buyout as their long-term target rather than just self-sufficiency. To prepare for that, schemes are ever more aware that they need to...

March 25, 2022
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UK. Creating a sustainable retirement plan
24Mar

UK. Creating a sustainable retirement plan

ESG is becoming more commonplace within retirement strategies. Indeed, recent figures from Aviva, highlighted that an strong majority (72%) of pension savers consider such initiatives to be important when developing their long term financial plans. As such, more and more pensions schemes and businesses operating within the retirement industry are prioritising ESG above most other investment considerations. For example, the Universities Superannuation Scheme Britain’s largest pension scheme – announced plans to completely disinvest in companies involved with coal mining, tobacco...

March 24, 2022
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