Blogs

  • Retirement income in the multiverse of projections

    16/06/2022

    The idea of parallel universes has been a popular subject in the sci-fi genre for decades. Little does the public know that their retirement income projections are already living in one. The recent FRC consultation on a proposed revision of their projection basis known as AS TM1 highlighted the inconsistency in pension projections across different providers and communications channels. That means the retirement income forecast you receive, even from the same provider, could be based on different assumptions and are not directly comparable. What can be done to bring the fragmented projection universe back into one, so consumers can have a single, simple, reliable estimated retirement income when planning their retirement?

  • We’re boosting take-up of Pension Credit – here’s how you can help too

    15/06/2022

    The Minister for Pensions Guy Opperman has written on how to boost pensions credit as part of the Department for Work and Pensions Pensions Credit Day of Action and the wider campaign to expand people’s engagement with their long-term savings.

  • Time for action on the advice gap

    06/05/2022

    Simplifying pensions language

    The Government and FCA have acknowledged that people need more help in making decisions about accessing pensions, as well as starting to invest. The Queen’s Speech is an opportunity to set a new direction for advice so that providers can offer more support when customers need it.

  • Mind the Gap: Women, Work and Pensions

    26/01/2022

    Women in the workforce today have a better chance of saving for retirement than they ever have before, but despite this the gender pensions gap persists. There are three key reasons for this - levels of pensions awareness, a disproportionate number of women in lower paying jobs and the caregiver penalty. Ahead of the Women and Work APPGs 2021 Report launch, we look at the ways the Government can help women to save more for their retirement.

  • Easing the Squeeze on Net Pay savers and those hit hardest by Covid-19

    13/10/2021

    This Budget we need to get rid of the quirks in pensions tax relief so that 1.5m low earners who have been missing out can automatically qualify for it and people who have had to use their pension savings during the pandemic are not penalised for paying the money back.

  • We Need to Talk About Pensions

    15/09/2021

    How do you feel about your finances as you head towards retirement? Most of us don’t want to think about it, but a little planning ahead and some sensible guidance can make life easier. Here are some of the things ABI policy adviser Matthew Field has been thinking about ahead of the FCA’s consumer investments strategy.

  • From 55 to 57 in the most complicated way possible

    14/09/2021

    ABI is calling for a simpler approach when the Government delivers its planned increase of the age that you can first access your pension from 55 to 57. The proposals will cause enormous confusion for pension savers navigating the already complicated UK pension system. Tax Adviser Dan Gallon explains just how badly the proposed changes to NMPA will impact pension savers.

  • Gretel - reuniting lost assets with their owners

    05/08/2021

    Duncan Stevens, CEO of fintech specialist, Gretel, discusses the Dormant Asset Bill’s impact on the industry and asks, why do insurers struggle to reunite lost assets with their owners?

  • Change advice rules to help customers choose pension withdrawals

    12/07/2021

    Pension withdrawals are the key remaining challenge in helping people to navigate pension freedoms. Deciding when and how much income to draw from a pension can be complex, and people need far more support than most are currently getting. Changing the advice rules would enable providers to do more to help customers with these choices, building on the example set by investment pathways.

  • Work together and stamp out pension scams

    07/05/2021

    On 4 May, Nicola Parish (Executive Director, The Pensions Regulator) spoke at our Saving and Financial Wellbeing webinar on the subject of pension scams. This blog is based on her speech and calls for the industry to take action on protecting customers from pension scams. The on-demand video of the event will be available on our website in the coming weeks.