Chris M.’s Post

Great to see our DC survey quoted in The Sunday Times this week as part of an article on the wide range of pension contribution levels offered by different employers. Even more important is to get a handle on what expected pension outcomes might be and what employers and savers can do to make sure it will be enough. Why not check out our survey report 5 Steps to better Pensions for some ideas? #DC #Pensions #HR #Benefits

Our DC survey results are now live! We found that many DC pension schemes are prioritising value and investment performance, but it's concerning that most don’t fully understand the expected retirement outcomes for their members. Pension contribution rates might not be high enough, and support at retirement is often lacking. Improving member outcomes requires better understanding of what members need and are expected to achieve, alongside greater support and engagement. 

Really great insights at a timely moment, given the wave of changes in our fast moving DC World - do please take a look at some highlights on the video and access the full report

Fascinating insights into the health of DC pension schemes in our latest DC survey, ‘Five Steps to Better Workplace Pensions 2024', launched last week: https://lnkd.in/eZwg4TCd What surprised me is that two thirds of schemes don’t know how much a typical member might expect to receive at retirement. With the increased focus on value vs cost and retirement adequacy from the government it feels like this should become more of a priority. As an aside, it also made me wonder how many members know what they might expect to receive in retirement...?! And, of course, this also ties into investment. As we start to focus more on those all important member outcomes, the survey highlights the need to understand the returns the default strategy is delivering. Its not enough simply to look at the component returns - we have to look at the overall experience for members and the returns they’ve seen. To do this most effectively, you also need to know what you are measuring against and ideally should have scheme specific targets. Thank you to everyone who took the time to complete the survey, and to the team for pulling it all together. Steven Leigh Jiten Parekh, CFA, Yassin Isman, APMI, John Foster, Clare Freeman, James Collier, Ben Roe #Aon, #definedcontribution

Aon's latest DC survey highlights some interesting themes, including: - half of respondents looking to change scheme structure - the main driver being to improve retirement outcomes for members If you didn’t get a chance to complete our survey and want to benchmark your scheme against our results - or if you want to see how you could improve member outcomes using Aon's DC Solutions, please be in touch! #DC #MasterTrust #Pension

Some great insights from my #DC colleagues following our latest annual DC survey. https://lnkd.in/eWKhsYyT From a #responsibleinvestment perspective, our survey results show slow but steady movement from DC pension schemes towards responsible investing practices, particularly in default investment strategies. This kind of progress is key to ensuring #ESG risks and opportunities are managed on behalf of members given the relatively low proportion of DC savers who make their own #investment choices. But it's important not to let perfection stand in the way of progress. We are still 26 years away from 2050 and scientists think that we may have already missed the boat on the target to keep global temperature increases to 1.5 degrees or below pre-industrial levels. In our report Katherine Patel, CFA sets out some barriers to responsible investing, and a framework to help make better decisions and progress further and faster. #WorkplacePensions #BetterDecisions #Aon

Legal Review: Loophole leaves life only disputes nowhere to go. Many employers will provide a lump sum benefit on the death in service of an employee. Depending upon the arrangements in place, these benefits may be paid from the employer’s workplace pension scheme, or from a separate death-benefit-only or group life arrangement. Check out Liam Fitzgerald's latest article 👇 https://incm.pub/3Y4rlVW #pensions #pensionscheme #employeepension #finance #retirement

How does your DC pension scheme compare? Many companies running DC pension schemes don’t fully understand expected outcomes for their members. Contribution levels may not be high enough, and support at retirement is often lacking. Improving member outcomes requires better understanding of what members need and are expected to achieve, alongside greater support and engagement. Get in touch with a member of the DC team to see how we can help. 

🚀 Pension Auto-Enrolment: Lessons Learned from the UK 🚀 As the launch of the pension auto-enrolment draws closer, we're keen to answer your questions surrounding the potential impact this will have on the Irish pension landscape. Martin Parish, our Regional Director of Employee Benefits in the UK, shares insights from the early days of the UK's auto-enrolment scheme and the impact legislation had on employees and employers. 👉 Dive deeper into what Irish individuals and employers can expect from the upcoming auto-enrolment scheme. Watch the full webinar here: https://lnkd.in/e4UyQj82 #AutoEnrolment #Pensions #EmployeeBenefits #WebinarRecap #FinancialPlanning

When I asked over 500 PQ, Qualified and non-studying pensions actuaries to rank 12 aspects of work in order of importance, all three groups placed Salary, Work/Life Balance (Total Hours) and The People They Work With as the top 3. Are you thinking about these aspects carefully when attempting to attract new employees? You can download the full report on the Salary Survey section of my website. #pensions #actuaries #actuarial #careers #somethingdifferent