Pensions Buzz

Respondents to PP research firmly rejected suggestions that people should stop thinking of pensions as providing an income for life.

The industry thinks pension managers should be able to give guidance to members, according to research carried out by PP.

The industry wants auto-enrolment minimum contributions to rise and sees auto-escalation as a good way of achieving this

Plans to increase the state pension age (SPA) to 70 for men and women by the 2060s are endorsed by the industry, although many think the government must act faster.

The pension industry is keen to see auto-escalation arrangements put in place to help workers save more, PP research finds.

The industry believes the the minimum auto-enrolment contribution for workers should be set above 6%, according to research carried out by PP.

The pensions industry wants to see a rapid escalation of the minimum employer contribution rate for auto-enrolment, PP research finds.

The majority of the industry is far from optimistic that auto-enrolment and a flat-rate state pension will give workers enough to retire on, PP research finds.

Two thirds of the pension industry think the government should consider compulsory saving to make sure as many workers as possible had something to supplement their state pension.

Seven out of ten people in the industry do not believe the combination of statutory auto-enrolment and new flat-rate state pension will give workers enough to retire on.