The ten big pension questions

Stephen Timms


These are  ten big questions facing pension professionals and its public today. They are the questions in the Work and Pensions Select Committee’s inquiry into the Pension Freedoms and they are worth your consideration. They concern the decisions we have to take at retirement, a time I have likened to sailing a ship through the Straits of Hormuz.

The inquiry’s call for evidence ended on Friday but the questions don’t go away for that!

  1. Do people have access to a range of pension options to meet their needs for later life and how might these needs change in future?
  2. Are there other pension options, not currently available in the UK, which would better meet people’s needs in later life?

  3. Are there barriers to providing other pension options which meet a need and are not currently available in the UK?

  4. Are people receiving the guidance and advice they need to make informed decisions about how they access their pensions?

  5. What role should the Money and Pensions Service have in supporting people accessing their pensions for the first time, including through pension dashboards?

  6. Should the Money and Pensions Service offer enhanced guidance or limited advice for people making decisions about their pensions?

  7. Can the success of auto-enrolment in helping people save into pensions be replicated for people in retirement through investment pathways?

  8. Including costs, what information do consumers need about different retirement products to make an informed choice?

  9. Are pension schemes communicating options effectively to members and are there material differences between trust-based and contract-based pension schemes?

  10. Can the issues around small pension pots be solved through behavioural changes by savers?

Strategic thinking for business development

Over the next few days, I want to think about these questions one at a time and build a greater understanding of each in my head. Hopefully in doing so, a broader picture can emerge that can help me think how I develop my businesses in the months and years to come.

Thanks to Stephen Timms and his team for narrowing down the topics and articulating the key issues in such a succinct and ordered way


About henry tapper

Founder of the Pension PlayPen,, partner of Stella, father of Olly . I am the Pension Plowman
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1 Response to The ten big pension questions

  1. Pingback: What are the barriers to collective pensions? | AgeWage: Making your money work as hard as you do

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