Pensions Buzz

Around two thirds of participants said contract scheme providers should be allowed to move members' money out of underperforming funds without consent under some circumstances.

Almost half of participants feel the drive for low charges poses no risk to competition or bar new entrants to the market.

Perhaps unsurprisingly, the overwhelming majority of respondents answered this question with a resounding ‘no'.

Buzz respondents were not in any way convinced that solvency requirements from Europe are dead and buried; just under 60% thought the requirements will be back in one form or another.

Uncharacteristically, the Buzz participants were unsure about this issue, with more than half answering that they did not know.

The vast majority of respondents are anxious about the effects of inflation.

Just 15% of contributors say schemes should put de-risking plans on hold until gilt yields show signs of improving, although two out of five contributors think they should consider delaying.

This week respondents say they don't expect their schemes to become self-sufficient, voice support for a default fund charge cap, and say the UK system is not fit for the Champions League.

Just one in five contributors believe the UK pension system is of Champions League quality while more than two thirds thought it was worthy of the Thursday night slot on Channel Five at best.

Fewer than one in 10 respondents expect schemes to be fully funded within the next couple of years.