JLT Pensions Manifesto
15th July 2010, London: All forms of UK pensions face severe funding issues. At the current rate of saving large parts of the population will suffer inadequate retirement incomes. Clearly there is no magic bullet. Many recent changes have had little impact. The switch from RPI to CPI only alleviates funding pressure.
Retirement incomes are likely to be reduced by this expediency. Defined Benefit pensions will continue to be the main source of retirement income for some years to come. Nonetheless those saving for retirement today almost universally do so through Defined Contribution arrangements. We will work hard to assist decision makers. This paper will we hope stimulate debate and we hope identifies the foundations for future pension provision.
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