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Laxman Pai, Opalesque Asia: Consolidation across defined benefit (DB) and defined contribution (DC) schemes is the most-anticipated trend for the UK pensions industry over the next five years, the Pensions and Lifetime Savings Association (PLSA) has found.
Senior pension executives and fund trustees say consolidation, climate change, the use of technology, and saver engagement are the most significant future trends the pensions industry will face over the next five years, according to a new report, 'Facing the Future: UK Workplace Pension Schemes Survey', an independent survey published by PLSA.
The PLSA conducted 129 interviews with member organizations representing a wide range of scheme type and size, while IFF Research also gathered the views of C-suites, trustee chairs, consultants, directors, heads of pensions, and pension managers.
Consolidation was the most anticipated, with 48% of the 129 interviewees saying this was the most significant future trend.
More than a third (36%) of respondents said climate change will be the most important factor shaping the industry over the next five years. Additionally, 64% of respondents agreed that retirement plans should be used to help tackle climate change and other environmental, social, and governance issues, while 54% of respondents agreed retirement plans' assets should be used to improve the U.K. economy through infrastructure and other investments.
Half (50%) of members we surveyed were currently inves...................... To view our full article Click here
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