Aon’s 2022 DC Pension Scheme and Financial Wellbeing Survey insights

28 June 2022

Aon has released their 2022 DC Pension Scheme and Financial Wellbeing Survey report, exploring the use of Defined Contribution (DC) schemes and their use in workplaces across the UK. The survey received responses from those that run and manage DC pension Schemes. While this means that the results and data are heavily focused on the high level running of the schemes, we can still gain some important insights from its results.

The report shows that:

•    46% of DC schemes have the main aim of delivering adequate retirement income, two years ago this was just 29%
•    Average default contribution rates remain consistent at about 6% employer and 4% employee
•    61% of schemes would like to do more to communicate about pensions with employees
•    39% of schemes signpost to an Independent Financial Advisor (IFA) upon retirement, an additional 19% plan to do so within the next three years

The full report covers what schemes are offering, their plans and provides advice and expert viewpoints for scheme administrators to maximise potential and offerings.

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