Malcolm Small: Employers will focus on total benefits offering

The jobs market will continue to improve, while unemployment will continue to fall. As automatic-enrolment into pension saving continues to be implemented, employers will start to focus on their total benefits packages once more.

Flexible benefits packages will continue to grow in popularity. Sales of group life and sickness plans will pick up with the improved economy and the effects of the Retail Distribution Review (RDR), deflecting advisers away from pure investment product sales.

Higher-paid staff with long service will be looking beyond pensions for retirement funding as more and more of them hit the new, lower lifetime allowance limit.

Increased take-up of workplace individual savings accounts (Isas) can be expected, often through employee workplace savings platforms.

– Malcolm Small is senior policy adviser on pensions at the Institute of Directors (IOD)