The information contained in this article was correct at the time of writing
October 12, 2023
Pensions – individual & corporate – the landscape I the UK in 2023
Introductory section setting the scene on the importance of pensions for a secure retirement in the current economic climate. Include key statistics and trends on current pensions landscape in the UK:
- Total value of pension assets under management
- Proportion of employees actively contributing to a workplace pension
- Life expectancy statistics and implications for pension planning
- – Recent pension legislation and policy changes
Section on different types of pensions and key features:
- State Pension – overview and recent changes on qualifying age, amounts etc
- Workplace pensions – stakeholder, defined benefit, defined contribution
- Personal and Self-Invested Personal Pensions (SIPPs)
- Differences between defined benefit vs defined contribution schemes
Analysis on current major issues and challenges with pensions:
- Pension freedoms – risks and opportunities of greater flexibility
- Persistent retirement savings gap – solutions and the role of auto-enrolment
- Demographic and longevity trends putting pressure on pension systems
- Low interest rates and implications for returns and adequacy of pensions
Section focused specifically on company and corporate pensions landscape:
- Prevalence of workplace pension schemes
- Employer attitudes and challenges with providing pensions
- Options for companies – stakeholder schemes, defined benefit, defined contribution etc
- Tax advantages and incentives for businesses to provide pensions
- Case studies and examples of innovative workplace pension schemes
Section providing suggested tips and best practices for individual and corporate pension planning:
- Starting early with pension contributions
- Taking advantage of tax reliefs
- Options for additional voluntary contributions
- Carrying out regular pension reviews
- Considering pension consolidation/transfer when changing jobs
- The importance of good investment governance for pension schemes
Speak to one of our experienced pensions advisers today to discuss your retirement plans or company pension requirements.
