An occupational pension scheme is a retirement savings plan provided by an employer for its employees. The most common plan is the group personal pension (GPP), while other ‘contract-based’ ‘defined contribution’ schemes are the stakeholder and group self invested personal pension (Sipp). Pensions run by a trustee board are the money purchase defined contribution scheme and the once-popular defined benefit plan (such as final salary).
CIPP research: Only 32% say they have a workplace pension.
Deal first announced in July 2014.
Two-thirds of advisers believe this is the case.
Will enable development of pensions and financial planning businesses.
Especially when the guidance guarantee takes effect.
Legislative changes are driving employee need for education.
DC scheme charges have been criticised.
GPPs are a popular choice among employers.
The cost of pensions administration is typically covered by a member’s annual management charge.
A more strategic approach will be key.
Primary responsibility is with the employer.
The latest trends in workplace savings.
Flexible retirement options will boost the need for age management
Employers should get more involved in legislative changes
Pension decisions are too complicated for generalised comments.