Let’s not pretend the future choices for employers are going to be easy, they won’t be.

Since 2012 we’ve made saving for retirement as easy as possible by defaulting staff into default funds of pensions we’ve mostly chosen on the basis that the provider will make it  easy.

But we have been stacking up problems and now those problems are coming home to roost. People are arriving at retirement with substantial pots and not a clue how to turn pots to pension.

Our problem has been kicked down the street like an empty can of baked beans – the pension problem. In this meeting of the Pension PlayPen coffee “mourners” we discuss whether we should wait another few years and hope that retirement CDC will be ok some time at the back of 2028.

Alternatively, we can set about getting workplace pensions back to creating pensions from as early as the end of this year using multi-employer master trust structures known as UMES (don’t ask me what that stands for)!

Here’s the video

We need to consider how people get pensions paid to them. Do they need to make choices or do they want choices taken for them by employers. Do employers want to give their staff choices or do they want to use a pension scheme to make those choices  for them.