McPhail: Pot follows member won't engage savers

Helen Morrissey
clock

Pot follows member (PFM) will do little to engage people with their pensions according to Hargreaves Lansdown head of pensions research Tom McPhail.

According to McPhail the PFM approach prevents people taking responsibility for their retirement saving and shifting between providers leads to a lack of familiarity that also discourages engagemen...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Members still struggling with retirement decisions despite a rise in engagement

Members still struggling with retirement decisions despite a rise in engagement

TPT research shows just 11% of members have never reviewed their pension

Martin Richmond
clock 04 August 2026 • 2 min read
SPP: How VfM can evolve to close the consumer gap

SPP: How VfM can evolve to close the consumer gap

Harriet Sayer looks at how the value for money (VfM) framework can become a practical tool for members

Harriet Sayer
clock 04 August 2026 • 3 min read
Nine in ten AE-eligible employees now saving into a workplace pension

Nine in ten AE-eligible employees now saving into a workplace pension

DWP figures show annual workplace savings reached £166.1bn in 2025

Martin Richmond
clock 30 July 2026 • 4 min read
Trustpilot