Aimed at helping trustees/pension managers to understand the importance of having financial education and guidance to help members navigate the broader concerns they currently have, not just pensions.
Members have a lot more to think about in the current crisis such as:
- Possibly dealing with furlough
- Keeping up with mortgage, rent and debt payments
- The drop in their equity based investments, including pension pots
- Should they continue to make regular pension contributions?
As a trustee, it is really important to understand this and what can be done to support members considering these broader issues to help them make informed decisions when planning for or taking retirement now.
This can be a combination of financial education, one-to-one retirement guidance sessions and regulated advice.
During this webinar, we will answer the following questions:
How might your employment income change?
- Explaining furlough and the impact on income
Managing a reduction in income
- Looking at household expenditure and where to possibly reduce costs
Support for the self-employed
- Understanding the government grant available if you or your partner are self-employed
Support with your mortgage, rent and debt
- Understanding the options and support available from lenders and legislation to protect tenants
Your pension and other investments
- Understanding the impact of furlough on contribution levels, market volatility on fund values and points to consider
Are you close to retirement?
- Understanding the options in the current climate and reviewing the impact of reduced fund values on your retirement plan. What can you do now?
RecordedApr 23 202060 mins
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DC master trusts are becoming an increasingly popular vehicle for DC pension provision following the introduction of the authorisation regime and the ever-expanding requirements for DC governance. But what are the trips and traps that can arise for pension scheme trustees who are considering or implementing a transfer to a master trust, and what do trustees need to consider when carrying out such a transfer?
Mark Baker, Jessica Rigby, Jasmine Smiley & Edoardo Cetraro
- How do the investment, commercial and governance look like and operate?
- How does working for a Master Trust differ from a DC scheme?
- Managing a scalable service with the bespoke needs of sponsors.
Veronica Humble, Head of DC Investment Strategy, Legal & General Investment Management
Savers do not think about their pensions in a vacuum and the seismic shock that COVID-19 has delivered to economies and societies has undoubtedly left its mark. Our latest research harnesses member views on environmental, social, and governance (ESG) issues today, compared to 18 months ago, we explore the extent to which COVID-19 has affected current and future financial well-being. Which generations and gender have been hardest hit and have events over the past year pushed ESG further up members agenda?
Consolidation, seeking to improve investment design, and benefit from economies of scale is providing a large tailwind for schemes to consider the move to a Master Trust (multi-employer scheme). In their 2020 report, the DCIF noted that many Master Trusts are utilising the TDF structure or are considering moving from a traditional lifestyle approach to a target-date fund.
The role of the presentation is to illustrate why we think well-managed TDFs are well-positioned to meet the demands of the UK retirement landscape today and going forward.