Communications consultancy Quietroom has developed a simplified statutory money purchase illustration (SMPI) in a bid to engage members with their pension savings.
A SMPI is a yearly illustration of the estimated pension a member might get from their pension pot when they retire. It is adjusted to allow for inflation on the cost of living in the period to retirement....
Lessons must be learned from open banking in order to make the pensions dashboard a success for the modern saver, says Darren Philp.
Pension providers must now be proactive and prepare their data in order to be ready for the pensions dashboard, Guy Opperman has warned.
The government must now bow to pressure and allow providers to choose whether to send standardised, simpler pension statements, says Baroness Ros Altmann.
There is a growing need for schemes to improve governance. John Reeve says better trustee support will improve their ability to meet these increasingly onerous requirements
Communication is essential in a pensions environment governed increasingly by defaults, and with more schemes in distress. James Phillips joined a panel of experts to hear how it can be improved.