Jonathan Watts-Lay, WEALTH at work | Tim Middleton, PMI | Rona Train, Hymans Robertson
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?