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Report

Workplace Pensions

Feb, 2018
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Summary

Over half of UK workers do not know what level of retirement income they will receive, while inadequate state pensions and insufficient savings mean millions will be forced to retire in poverty or “work until they drop”. However, it’s not all doom and gloom, The Workplace Pensions special report published in The Times, explores the potential of financial technology to future proof pension funds, a holistic approach to financial planning and how UK schemes are derisking their investment strategies. Also featured is an infographic details the $70-trillion savings-gap in eight of the world’s largest economies, as well as comment on the need for the pensions industry to catch up with the modern world

Infographic

Longevity is increasing and is set to put a growing population of retirees under immense stress in the coming decades as people struggle to pay for their retirement. Life expectancies have risen by an average of three years per decade since the 1940s and, while retirement ages are gradually increasing, people are spending longer not working without the savings to justify it. This has created a $70-trillion pensions timebomb in eight of the world’s largest economies, which could swell by nearly six times by 2050