Pensions Buzz

The industry is divided on whether schemes should move towards more passive investment strategies, PP research finds.

Respondents to PP research have dismissed suggestions that people should change the way they think about pensions, and called for scheme managers to have a role in guiding members.

The industry believes putting a parliamentary guarantee on the 25% tax-free lump sum would increase saving, according to PP research.

Lobby groups with a vested interest in increasing regulation are having an unhealthy impact on government policy, according to PP research.

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.