Pensions in 10

David Brooks and Adam Bexson explore new research from the Association of Member Nominated Trustees (AMNT) on how the member voice can be heard across Defined Contribution (and potentially Collective Defined Contribution) arrangements. The team also discuss research from Skipton Building Society finding that Gen Z workers are three times more likely than the wider population to want to retire before the age of 55, amid growing online interest in the Financial Independence, Retire Early (FIRE) movement.

David Brooks examines the Society of Pension Professionals' response to the government's ongoing consultation on how defined benefit schemes could share surplus with employers and members, helping to address the issue of trapped surplus.

He also explores:

• Where the government's proposals could be improved
• The practicalities of extracting and distributing surplus
• Why high-quality scheme data will be essential

David Brooks, Head of Policy at Broadstone, is joined by Kelly Parsons, Broadstone's Head of DC Proposition, to unpack three key developments shaping the pensions landscape. This week, they discuss:

• The Government's review of how finances are handled when relationships break down, including proposals to make pensions more prominent and potentially extend pension sharing orders to cohabiting couples
• New statistics on pension withdrawals since the introduction of pension freedoms, looking at the benefits of greater flexibility alongside concerns around retirement adequacy, taxation and whether people have the right information to make informed decisions
• The growing momentum behind Collective Defined Contribution (CDC) schemes, including the new regulations opening the door to multi-employer arrangements and what this could mean for the future of workplace pensions

David Brooks, Head of Policy at Broadstone, discusses:

• What Andy Burnham's appointment as Prime Minister and the decision to retain Torsten Bell as Pensions Minister could mean for the Government's pensions roadmap, and what the industry can expect over the coming months
• The latest Pensions Policy Institute (PPI) Automatic Enrolment report, exploring the potential impact of future pensions policy changes on low earners
• The growing debate around the State Pension, including the Work and Pensions Select Committee's discussions on the transition to a State Pension age of 67, proposals to increase it to 68, and new comments from Chancellor John Healey on the taxation of State Pensions
• The Government's latest inheritance tax legislation, including further detail on how the new rules affecting pensions are expected to work from next year

This week, David Brooks covers:

• The DWP's pensions reform roadmap and what the updated implementation timeline means for both DB and DC schemes
• The latest pensions scams update and what trustees, employers and members need to be aware of

David Brooks is joined by Adam Bexson, this week's episode covers:

• Opting out of auto-enrolment arrangements – what are the implications?
• Potential changes to the rights of unmarried couples
• Updates to the definition of ill health

David Brooks is joined by colleague Adam Bexson to discuss:

• Proposals to link pension tax relief to investing in the UK, exploring the practical challenges and the wider question of whether pensions should be used as a tool to influence the economy
• Why annuity sales are on the rise, including the potential role of inheritance tax changes and the growing appeal of guaranteed retirement income
• The DWP's plans to improve communication around future State Pension changes, following recommendations from the Parliamentary and Health Service Ombudsman

David Brooks is joined by Kelly Parsons, Head of DC Proposition at Broadstone. This week, they discuss:

• The latest political developments and what a potential change in leadership could mean for pensions policy, including questions around the future of the triple lock
• Why DC pension assets are projected to exceed £1 trillion and overtake DB assets by 2031, and the implications for scheme governance, employers and savers
• The government's review of Flexible Apportionment Arrangements (FAAs), exploring the balance between encouraging innovation and ensuring appropriate protections for members

David Brooks is joined by Christopher Rice to discuss:

• DB surpluses consultation
• New proposals to tackle pension scams
• GMP conversion and equalisation developments

David Brooks kicks off this episode with a look at the newly published Retirement Living Standards from Pensions UK. He also covers the PASA - Pensions Administration Standards Association CIC Pensions Administration Careers Survey and provides an update on progress to the Inheritance Tax reforms following recent guidance issued.