UK - Employer contributions into their final salary schemes have risen by 60% over the last four years, according to Inland Revenue figures.
The statistic was quoted by SPC president Donald Duval at recent conference ‘Tomorrow’s Pensions: New Resolutions for New Realities’ to show that many occupational pension schemes will continue to produce good pensions.
He urged: “People should not be frightened by problems that have hit a few schemes.”
But he warned those without occupational schemes to invest in a private pension or face years of poverty.
He said: “It may sound brutal, but we need to tell people how it is. People must not close their eyes to the dangers facing them and their families at retirement.
“There simply won’t be enough provided by the state pension scheme for people to enjoy a decent standard of living.”
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.