Benefits Expert: DC Pension roundtable report available
04 May 2023
After a decade of automatic enrolment (AE), defined contributions (DC) pension schemes are becoming the norm for workplace pensions outside of the public sector. There is still space for DC schemes to improve ad adapt to changing labour markets.
Attended by industry leaders, including the CIPP’s policy lead, Samantha O’Sullivan, the roundtable discussed many points including:
- the transformation of the DC pensions landscape
- performance concerns
- governance
- switching challenges
- consultations
- informed decisions
- cost factors
- the challenges of performance and education
- cost
- key drivers
- opt-out rates
- strategy
- support
- embracing engagement and diversity
- engagement, advice and guidance
- delivering to a diverse workforce
- financial wellbeing and education
- the future of DC pensions.
As pensions becomes less of a ‘tick-box’ exercise, more discussion and education are needed to enable all employers to fulfil their duties to the best of their ability, not just the bare minimum. There is still plenty of space to grow, in legislative terms a decade is still a relatively short period.
Even if you have your pension offerings all sorted, this is well worth a read to see where DC schemes are headed and how you can plan for the future.
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