Partner Insight: Are pension scheme members asleep at the wheel?

Pension schemes and providers need to do more to raise awareness about pensions, and sustainability messaging could be the key

clock • 1 min read
The importance of sustainable pensions
Image:

The importance of sustainable pensions

Are your DC members saving enough for a comfortable retirement? If they're like most people, the answer is no.

In fact, according to a recent survey, from Smart Pension and Professional Pension, only 12% of DC members are saving enough for retirement. This is a major concern, as retirement should not be a time of financial stress.

The problem is not just a lack of savings, but also a lack of engagement with pensions in general. Many members are simply not aware of the importance of sustainable pensions and the impact they can have on their future.

However, there is hope. Pension schemes and providers are starting to take notice and are working to raise awareness about the importance of sustainable pensions. By making sure that members are engaged and informed about the benefits of sustainable pensions, we can help ensure a comfortable retirement for everyone.

Read Smart Pension's report to find out why and what the industry can do to bring change.

 

This post was funded by Smart Pension

More on Defined Contribution

Most think government won't pay attention to RLS 'wake-up call' on DC adequacy

Most think government won't pay attention to RLS 'wake-up call' on DC adequacy

Buzz poll also finds industry split on whether AE extension will impact gender pensions gap

Jasmine Urquhart
clock 20 February 2024 • 3 min read
Pension transfers leaving savers at risk of being worse off in retirement

Pension transfers leaving savers at risk of being worse off in retirement

People’s Partnership finds over a third cite streamlined finances as reason for transfer

Martin Richmond
clock 19 February 2024 • 3 min read
Contribution and salary modelling for RLS released

Contribution and salary modelling for RLS released

Hymans Robertson releases ‘Guided Outcomes’ model for meeting PLSA RLS using colour scale

Jasmine Urquhart
clock 19 February 2024 • 2 min read
Trustpilot