The capacity for savers to fully grasp the impact of the changes to their defined benefit (DB) pension scheme is the biggest challenge to Royal Mail’s planned collective defined contribution (CDC) model implementation.
The UK economy’s continuing inflation coupled with slow growth will likely lead to a point of enduring ‘stagflation’ by the end of the year, according to former Conservative chancellor of the exchequer Norman Lamont.
The industry must step up and work creatively to reform thinking around defined contribution (DC) pensions as there is no time to wait for the government’s 2017 review of auto-enrolment (AE) to be implemented, Sir Steve Webb says.