From thought leadership to technical pieces, knowledge hub keeps our members and pensions professionals up to date with the recent developments in the industry.
This is the third essay in a series of six produced by the PMI’s Master Trust Innovation Workstream. This essay aims to set out how we can expect member engagement with Master Trusts to evolve in the next five to ten years
Impact of unemployment on your retirement goals & member engagement
Covid-19 has had a devastating impact on the global economy as well as the significant loss of life. We take a look at the employment sector in the UK and how being out of paid work can have a detrimental impact on your retirement goals.
Not as easy as ABC: asset-backed contributions post-Covid-19
Asset-backed contribution arrangements (ABCs) are one of the more controversial innovations in Defined Benefit (DB) scheme funding. Under these agreements, typically between trustees and one or more entities within the sponsoring employers’ group, a payment stream is derived from an underlying asset and paid to the scheme over a set period, usually via a special purpose vehicle (SPV), in the form of a Scottish Limited Partnership (SLP), intended to avoid employer-related investment (ERI) rules.
Around 9.6 million jobs, from 1.2 million different employers, were furloughed in the UK as part of the government’s job retention scheme1. With much of the workforce financially affected by Covid-19, providing financial education and guidance has never been so important, especially for those considering retirement. Jonathan Watts-Lay, Director, WEALTH at work answers some key questions surrounding this.
I started working in pensions back in 2014 at only 19 years old and with a background of A Levels in Maths, Psychology and Spanish, and then a year working in retail. I was part of Aon’s first intake of pension consulting apprentices and so it was a new experience for those working with me, as well as for me having never had an office-based job before. I had no previous knowledge in pensions and started with the more straightforward tasks such as updating trustee training logs and pulling together meeting packs. Fortunately for me, my colleagues were encouraging and as my knowledge and capability improved, I was delegated more complex work.
PMI Mentoring and Development Programme: mentee update
Starting the Pension Management Institution’s mentoring scheme during a pandemic has been an interesting experience. When I first found out I had the opportunity to become a mentee, I was really pleased and raring to go. But then coronavirus hit, and in the rush to adapt to this new way of working, things didn’t begin as soon as I would’ve liked.
I started working in pensions back in 2014 at only 19 years old and with a background of A Levels in Maths, Psychology and Spanish, and then a year working in retail. I was part of Aon’s first intake of pension consulting apprentices and so it was a new experience for those working with me, as well as for me having never had an office-based job before. I had no previous knowledge in pensions and started with the more straightforward tasks such as updating trustee training logs and pulling together meeting packs. Fortunately for me, my colleagues were encouraging and as my knowledge and capability improved, I was delegated more complex work.
PMI Mentoring and Development Programme: mentee update
Starting the Pension Management Institution’s mentoring scheme during a pandemic has been an interesting experience. When I first found out I had the opportunity to become a mentee, I was really pleased and raring to go. But then coronavirus hit, and in the rush to adapt to this new way of working, things didn’t begin as soon as I would’ve liked.
This is the third essay in a series of six produced by the PMI’s Master Trust Innovation Workstream. This essay aims to set out how we can expect member engagement with Master Trusts to evolve in the next five to ten years
Impact of unemployment on your retirement goals & member engagement
Covid-19 has had a devastating impact on the global economy as well as the significant loss of life. We take a look at the employment sector in the UK and how being out of paid work can have a detrimental impact on your retirement goals.
Not as easy as ABC: asset-backed contributions post-Covid-19
Asset-backed contribution arrangements (ABCs) are one of the more controversial innovations in Defined Benefit (DB) scheme funding. Under these agreements, typically between trustees and one or more entities within the sponsoring employers’ group, a payment stream is derived from an underlying asset and paid to the scheme over a set period, usually via a special purpose vehicle (SPV), in the form of a Scottish Limited Partnership (SLP), intended to avoid employer-related investment (ERI) rules.
Around 9.6 million jobs, from 1.2 million different employers, were furloughed in the UK as part of the government’s job retention scheme1. With much of the workforce financially affected by Covid-19, providing financial education and guidance has never been so important, especially for those considering retirement. Jonathan Watts-Lay, Director, WEALTH at work answers some key questions surrounding this.
