Press Releases

Allowing individuals to make tax free withdrawals from pension pots to pay for care have been mooted – but the average pot size today is £27k, and the average cost of residential care even without nursing is £30k per annum. At current savings levels there is little hope of pensions filling the gap in paying for social care.

Will individuals engage with the fact that they might need care, and will they see it as their responsibility or indeed a necessity to cover those costs themselves when the Government provides a backstop for those who can’t afford it?”

Today the average DC pot size is £27k*. To put this in context it costs £30k per annum for care without nursing rising to £40k per annum with nursing

Today the average DC pot size is £27k. To put this in context it costs £30k per annum for care without nursing rising to £40k per annum with nursing

The PLSA taskforce’s thinking is out of step with the Department for Work and Pensions (DWP’s) Green Paper on the sustainability of DB pensions issued just two weeks ago. 

Chris Noon, Head of Workplace Savings, comments on the complex area of the annual allowance taper, and the approach taken by Government

We challenged some of the views set out by the FCA in response to its Asset Management Market Study consultation. In particular it emphasised there is more competition in the investment consulting market than the FCA study suggests. It also raised concerns about strategy advice coming into the regulatory regime for fund managers when the high professional standards of scheme actuaries, which most players in the investment consultancy industry abide by, is more appropriate.

The Department for Work and Pensions (DWP’s) Green Paper, released today, raises the prospect of measures being introduced to encourage sponsors with significant resources but substantial deficits in their schemes, to make faster progress in repairing those deficits. Our Head of Corporate Consulting, Jon Hatchett  and Calum Cooper, Head of Trustee responds to the findings.

If a ‘hard’ Brexit leads to a drop in migration, this could put pressure on the State Pension Age (SPA) to increase by 18 months for workers under the age of 40, finds research our reserach.

None of the solutions for equalising and indexing GMPs proposed by the Government in this consultation are without drawbacks. 

The FTSE 100 sponsored Pension and Assurance Scheme of the Land Securities Group of Companies has completed a £110m buy-in with specialist insurer Just. Hymans Robertson were the lead adviser to the Trustees, with Sackers providing advice on legal aspects. 

Survey highlights lack of strategic leadership as the real pension deficit.