1. Occupational Pensions – where we are and where we are going?
Bryn Davies,
Union Pension Services Ltd.
Occupational Pensions – where we are and where we are going?

2. The problems for occupational pensions
The economy
Longevity
Employers

3. The economy?

5. Longevity?

7. Issues with living longer
It’s still happening and it’s big
Varies by socio-economic class
Implications for working life & retirement

8. “Theoretical SPA” estimated to give one third of adult life in retirement
Figures from Punter Southall

9. Employers?

11. ? Figure 1: Proportion of employees with workplace pensions:
by type of pension, 1997 to 2016 ?

12. Automatic-enrolment contributions
The minimum contribution rate is phased from 2012 to The table below shows the minimum employer and total contribution rates, together with the employee rate if the employer pays the minimum.
Employer
Employee
Tax relief
Total
October 2012 to
September 2017 1%
0.8%
0.2% 2%
October 2017 to
September 2018
2.4%
0.6% 5%
October 2018
onwards 3% 4% 8%

13. Weighted-average contribution rates to private sector occupational pension schemes: by benefit structure and contributor, 2011.
AE contributions
Source: Occupational Pension Scheme Survey (OPSS) - Office for National Statistics

15. DWP – Occupational Pensions
Review of State Pension Age
Auto-enrolment Review
British Steel Pension Scheme
Pension Scams
NEST: evolving for the future
Security and Sustainability in Defined Benefit Pension Schemes – White Paper

17. Security and Sustainability in Defined Benefit Pension Schemes – White Paper
Funding and Investment;
Employer Contributions and Affordability;
Member Protection; and
Consolidation of Schemes.
Responses required by 11:45pm on 14 May 2017

18. The Treasury - Public service pension schemes - valuations
Taxation and Pensions
Lifetime ISA
Pensions and Inheritance Tax
Fundemental changes?