Pensions Policy Institute (PPI)’s Post

As Capita Pension Solutions marks its 50th anniversary, we're sharing highlights from the new Pensions Policy Institute (PPI) report on how economic, demographic, and technological changes have transformed pension schemes and retirement planning in the UK over the past five decades.   Did you know that in 2014, house prices continued to rise, outpacing wage growth and making homeownership challenging for many?   Despite legislative advances, the average salary for women aged 40-49 was £18,300, compared to £32,000 for men. However, the introduction of automatic enrolment in 2012 brought more people into pension saving, increasing participation rates.   Download the full PPI report, sponsored by Capita Pension Solutions to find out more 👇   #CreatingBetter #Pensions #Retirement Anish Rav Chris Clements Stuart Heatley

The pensions industry is reacting to reports of delays in the second phase of the government’s Pension Review, which focuses on adequacy. While the government has promised details “in due course,” experts warn this postponement could further erode confidence and delay critical reforms. Jon Dean, Head of Retirement Strategy, says an increase in pension savings rates is sorely needed for most UK pension savers, as contributions rates are the single biggest factor in good member outcomes. Industry leaders are urging immediate action or, at the very least, an independent pensions commission to address these pressing issues. The question remains: how much longer can savers afford to wait? Read the full article published by PensionsAge, link in the comments below 🔗 #FinancialServices #PensionsReview #RetirementPlanning Chris McCullam | Rory Gravatt

The Pensions Policy Institute (PPI) is today publishing the fourth edition of the UK Pensions Framework in association with Aviva Business , this report Red Sky in the Morning? examines the link between rising inequality and the UK pension system. The report includes evidence of risks that households face to retirement security from a combination of rising levels of inequality, and persistent gaps in pensions coverage and contributions. It concludes that the government’s Pensions Review comes at a critical time. While recent pension reforms have had important success however, there is more to be done and focusing on retirement income alone misses important and growing divides that have a material impact on living standards in later life https://lnkd.in/e4anBQyu #inequality #pensions #PensionsPolicyInstitute #PPILaunch #PPIPensionsFramework #retirement #redsky #retirementsavings #adequacy #savingsgaps #savings Anna Brain Daniela Silcock John Adams Tim Pike Chris Curry frank carson Alistair McQueen Sarah Webster Hannah Barker

Another incredibly insightful and helpful research report for the pensions industry and, importantly, policy makers. Key takeaway - the links between pensions policy and other key areas of social policy means none of the major challenges can be addressed in a vacuum. Well done to the PPI team for highlighting this so effectively.

A really thought provoking piece of work, reminding us how interdependent public policy decisions are. Pensions policy has reduced inequalities in later life, but increasing wealth, health, housing and work inequalities all impact pensions, and potentially undermine the sucess of the pension system. #PPILaunch #PensionsPolicyInstitute

✨ 💸 Is it time to bring in celebs to make pensions s*xy? Ms Millennial Money dives into the Boring Money Pensions Report 2024. In a world where pensions are often overlooked by younger generations - even the financially savvy - this report is important in highlighting to the financial services industry that continued efforts are needed to drive engagement in pensions and ensure we're not relying too heavily on auto-enrolment. Boring Money have conducted extensive surveys to shed light on how consumers feel about retirement savings and why engagement is still lacking. 💔🤔 Did you know nearly 49% of 22-29-year-olds aren’t saving enough to avoid retirement poverty? With a fresh perspective and insightful stats, the Boring Money report highlights the critical need for the financial industry to revamp its approach to engage young savers. From the auto-enrolment trap to bringing in celebrity finfluencers, Ms Millennial Money ponders how we can turn the tide on pensions! 👉 Read the full article now: https://lnkd.in/eVK4UNcZ Holly Mackay Sheryl Cuisia Sarah Penney Danny Wallace #BoringMoney #BoringMoneyPensionsReport2024 #PensionsReport2024 #Pensions #FinanceForYouth #GenZFinance #MsMillennialMoney #RetirementPlanning #FinancialLiteracy #FinLit #FinancialEngagement #PayYourPensionSomeAttention #GemmaCollins #NextGenPensions #NextGenFinance #TEA #TheEngagementAppeal

A Pension Schemes Bill was mentioned right at the start of the King’s Speech, underlining the importance the Government attaches to changing pension investments, partly through consolidation. Read our update: https://ow.ly/S16Y50SF3c1 The Government has said this will include a standardised test for DC schemes to demonstrate value-for-money, while a requirement to offer retirement income options is positioned as giving people ‘a pension and not just a savings pot’. There will be a legislative regime for defined benefit superfunds. Other DB proposals – such as consolidation via the PPF or changes in rules on access to surplus - were not mentioned but could be brought forward later. #pensions #DefinedContribution #DefinedBenefit

The new Labour government in the UK is set to reshape pensions policy. This overview highlights the expected changes and their implications for pension schemes under the new Parliament. Stay tuned for more detailed updates https://ow.ly/AhF250Sz9bf #pensions #pension #retirement #WTWPerspective

A Pension Schemes Bill was mentioned right at the start of the King’s Speech, underlining the importance the Government attaches to changing pension investments, partly through consolidation. Read our update: https://ow.ly/G3EE50SF3j3 The Government has said this will include a standardised test for DC schemes to demonstrate value-for-money, while a requirement to offer retirement income options is positioned as giving people ‘a pension and not just a savings pot’. There will be a legislative regime for defined benefit superfunds. Other DB proposals – such as consolidation via the PPF or changes in rules on access to surplus - were not mentioned but could be brought forward later. #pensions #DefinedContribution #DefinedBenefit

With the Pensions and Lifetime Savings Association Annual Conference just underway in Liverpool, we've been thinking about the steps taken in the UK to encourage more people to save for retirement. Since 2012, auto-enrolment (AE) has made it easier, but is it enough? Statistics from the Pensions and Lifetime Savings Association point towards a significant shortfall between what AE covers and what’s needed for a comfortable retirement. Here’s what’s on the table to improve it: 1. Lowering the enrolment age to 18 and lower contributions too 2. Scrapping the £10,000 earnings limit 3. Adjusting the earnings trigger 4. Supporting low-income workers 5. Including the self-employed 6. Making contributions compulsory There's more to read in our blog, "Could auto-enrolment better address the UK's retirement income challenges?" Take a look! https://lnkd.in/eNk8ams6 #Pensions #AutoEnrolment #Retirement #FinancialSecurity #plsaannual24