Category: Defined Contribution
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Economic inactivity among older people has risen in recent years, and pension flexibilities may be one contributing factor. The 2015 reforms created a financial bridge that makes it easier to leave work before State Pension age. Stopping work early used to mean relying on benefits or finding another source of income. With working-age benefits providing…
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Defined Contribution (DC) schemes are under growing pressure to back UK growth, but the example they are told to follow – the Local Government Pension Scheme (LGPS) – has some advantages they cannot easily replicate. Border to Coast’s £500m UK opportunities strategy shows what can be achieved when funds pool and commit to illiquid assets.…
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In this interview, I talk to the inspirational Janette Weir of Ignition House about the work that companies are doing on flex first/fix later products to meet the Government’s upcoming requirements for schemes to offer default retirement income products. You can read her report (sponsored by Aviva/Age UK) for more info. PG: When did the…
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I was kindly invited to speak about DC reform at the Association of Consulting Actuaries annual conference last week in Manchester. As I was putting my slides together I came across an interesting point which was that three recent DC policy reform strands overlap with each other in scheme investment in UK businesses and infrastructure.…
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The DWP has announced that the automatic enrolment Earnings Trigger and Qualifying Earnings Band will stay the same in 2025/26 as it was in 2024/25. These affect eligibility and contribution levels and mean that: This means that as earnings increase, more people will be eligible for automatic enrolment, and people will receive and pay more…
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Happy New Year! I hope you all had fabulous breaks! 😊 It seems appropriate that my first blog of 2025 looks at what might be coming up for pension schemes this year. Defined Contribution (DC) Schemes So much change is expected here! Alongside Value for Money (VFM) framework development, the government is looking at setting…