Willis Towers Watson has published a report looking at DC trends over the past year. Kim Kaveh looks at the findings.
Leading defined contribution (DC) schemes are beginning to differentiate in areas that will make delivering long-term sustainable retirement outcomes a real possibility, according to Willis Towers Watson....
Just under a quarter (24%) of employees never review their pension which shows a lack of engagement when it comes to retirement is a “real issue”, according to Close Brothers.
The UK pensions landscape has changed; we’re now seeing greater contributions into DC schemes than DB for the first time, prompting a shift from schemes to look beyond traditional asset classes to deliver best outcomes for members.
An individual who moves into self-employment after ten years work will miss out on an additional £115,300 in retirement funds after exiting their occupational pension scheme.
The master trust market now represents 16 million memberships and holds more than £36bn in assets, The Pensions Regulator’s (TPR) final master trust market update reveals.
Professional Pensions has compiled a list charting the progress of master trust authorisation. View our list in full here...