PLSA

A panel of experts have shared their views on how DB schemes can make good consolidation decisions. Kim Kaveh reports from the PLSA’s annual conference .

The number of defined benefit (DB) schemes will fall in the next decade as superfunds begin to strengthen, pension professionals believe.

It is the role of employers, the pensions industry, and the government to close the gap between minimum and moderate levels of income in retirement, according to the Institute and Faculty of Actuaries (IFoA).

The industry has had little success engaging members with pensions over the past 20 years. Jonathan Stapleton says two initiatives currently underway may change this in the future.

The industry needs to spend a significant amount of money on data and administration to make the dashboard worthwhile, according to pension professionals.

The Pensions Regulator (TPR) will now seek to publish the first of two consultations on a revised defined benefit (DB) funding code in the new year, depending on the political environment.

The pensions schemes bill will digitalise pensions and provide savers with greater confidence for retirement, Guy Opperman has said.

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.

The retirement living standards must be widely adopted by schemes to help millions of savers truly understand how to achieve the retirement lifestyle they desire, says Nigel Peaple.

The Pensions and Lifetime Savings Association (PLSA) will play a more proactive role in bringing people together and act as captain of the industry, its chief executive Julian Mund has said.