I haven’t heard much demand to hear me talk about turning pots to pensions, but I have a burning desire to discuss pots and pensions with the members of Pension PlayPen.

I don’t intend to beat around the bush, we need new options that improve on investment pathways, we need brave trustees who use choice architecture to promote what they consider to be good options and above all, we need people to be aware that what they save towards their retirement needs their attention when they come to draw their money.

It needn’t be a nightmare, turning pots to pensions can be something that happens naturally, but it needs the people who work in pensions to make sure that the public get VFM and don’t get ripped off.

 

Should employers pay pensions?

Of course they shouldn’t. Employers need only to worry about sponsoring the workplace savings to at least AE minima. They have no obligation to pay people after they have left to retire,

But employers who have spent decades paying into DB and DC schemes, are entitled to be concerned if their employees are not – as a result – getting a wage for life , when they need it most (hint-in retirement).

If you had a choice as an employer of choosing a workplace pension that paid better pensions, wouldn’t you find that choice attractive? I would – and I’m interested in your views about how we go about it!

 

You can join the session from this link.