Tax-based financial incentives for savings are wasted on the lowest paid workers as they may not have the means to contribute more into their pension, the Organisation for Economic Co-operation and Development (OECD) says.
Such tax perks should instead be focused on the best-paid who may struggle to achieve a good replacement rate in retirement, making it difficult to achieve the same standard of living as in working life....
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.
Legal & General Investment Management (LGIM) has incorporated ESG considerations as well as its climate impact pledge into the default funds for the 3.3 million members in its master trust and contract-based schemes.
As TPR prepares to kick off its first master trust supervisory cycle, Kate Smith explores how the market has changed and may continue to
Nest Insight has outlined a series of different options on how its planned hybrid savings tool could be implemented successfully by employers.