Pension news and articles written by actuaries for actuaries - read the latest research pieces, today's news and latest articles in the Pension's market.

DC or DB pension - some people will always behave the same.

By Dale Critchley, Technical Reform Manager, Corporate Benefits, Friends Life, part of the Aviva Group

Lots of things have changed since then - the typing pool has gone, along with the defined benefit pension scheme, but it seems that attitudes to pension saving remain relatively constant. Aviva’s Working Lives Report has revealed that after being automatically enrolled nearly 1 in 5 employees in small businesses admit that they are unaware of where their pension contributions are being invested. If we look at the figures across all employees in the private sector, it means close to 1.5 million people do not know what is happening to their savings. I predict that figure will grow as the auto-enrolled population expands.
 
When I was enrolled engagement didn’t matter so much. Investment risk lay with my employer. With defined contribution the risk is of course transferred to the employee. Unfortunately, like a reluctant game of pass the parcel, employees don’t seem to want to grapple with investments or even acknowledge it is their turn to take control.
 
Engagement is one answer to this problem - finding some way to make pensions more interesting than Coronation Street or watching cats on YouTube, or ...Read More

New research questions CFO's on risk to their DB scheme

Key points:
• A third of CFOs** recognise their Defined Benefit (DB) schemes are now paying out more in pension payments than received in contributions
• Research* shows 50% of FTSE350 DB schemes are now in this situation
• Awareness of the risks this poses is higher among CFOs than trustees – 1 in 5 CFOs recognise that a forced sale of assets to meet pension payments is the biggest risk to their DB scheme compared to only 4% of trustees
• In 2015 £20bn more was paid out in pensions than received in contributions across UK DB schemes
• This will increase to &poun...Read More

Governance in Action

By Lydia Fearn, head of DC & financial well-being at Redington
 
How do we in the pensions industry help our members to not only save more for a better future for themselves, but gain trust in a system that they feel has failed them on epic levels?
 
Many of us are still raw from the global finance crisis which cast governance under the scrutiny of a despairing public. In 2009, Regulators began forensic analysis of existing procedures across industries. The then NAPF (now PLSA), following a period of analysis, described ‘a governance vacuum’ around defined contrib...Read More

Grumpy Old Pension Men: 26 April 2013

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