Webinar recording: Key future changes to pensions that employers need to know about
Within five years retirement behaviours will have changed dramatically, largely due to the expected rise in employees in defined contribution-only pensions plans by 2030. Employers have yet to feel the impact of this shift, but it is imminent. In preparation, there have been several Reviews and Consultations, plus broadly cross-government agreement that shifts are required to deliver better value for pensions.
In this REBA webinar we explore the top pensions challenges and changes HR, Reward and Benefits teams need to know about in order to assess what is likely to stay the same and what is most likely to change within their own workforce: from auto-enrolment duties and the long-awaited dashboards project, through to the impact of the current housing costs crisis and longer working lives.
The panel will discussed practical, forward-looking actions employers can take to mould pensions and broader financial support benefits to match changing workforce demographics, attract and retain workers, as well as allow for retirement journeys that will suit near-term workforce planning needs.
The key issues covered included: what will the next five years mean for workplace pensions; what value for money means for employers as we tip towards the majority of workers only having access to defined contribution (DC) pensions?; how can DC plans, such as Master Trusts and Group Personal Pensions, be made as valuable DB schemes to the benefit of both employer and employee?; what should (or can) employers do to engage employees – is it time to talk about housing costs and generation rent?; what is the future direction of travel for good member outcomes, and what is changing?; captivating behaviours: from inertia to engagement, from defaults to decisions.
Chaired by REBA’s director and co-founder Debi O’Donovan, the panel included:
- Maral Soltani-Taylor, Director, Benefits & Mobility at Exact Sciences
- Steve Watson, Director of Policy & Research at Cushon
- Sam Whiting, Benefits and Pensions Senior Manager at Grant Thornton UK LLP
REBA webinars are complimentary for everyone working within rewards and benefits, HR, and wellbeing.
Thanks to strategic partner Cushon for supporting this REBA webinar.
In partnership with NatWest Cushon
Cushon is an online savings&investments platform provider, offering holistic workplace savings.
