More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The introduction of Freedom and Choice in 2015 led to a surge in the number of defined benefit (DB) to defined contribution transfers with, according to the Office for National Statistics, around £100bn...
The industry needs to spend a significant amount of money on data and administration to make the dashboard worthwhile, according to pension professionals.
Schemes must “act now” to equalise guaranteed minimum pensions (GMPs), pensions and financial inclusion minister Guy Opperman says.
The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.
The Pensions and Lifetime Savings Association (PLSA) has unveiled a retirement living standards tool to help members engage with their pension and set retirement targets.
Aegon has launched personalised animated video summaries for its members, in a bid to boost engagement.