Some experts are sceptical about the touted benefits to workers from the UK government’s proposed shake-up
Amid all the jargon of the latest announcement on pensions, one number will have leapt out: the claim that the average worker will gain £6,000 in their retirement fund as a result.
The figure comes from the government’s final report of its Pensions Investment Review published on Thursday. It lays out plans to shake up defined contribution pensions, the funds that invest workers’ regular payments in stocks, shares and other assets to grow the money. These provide workers with an income on retirement based on the value of their stake; the size of this income will depend on how much they have paid in and how well the investments have performed.
Some experts are sceptical about the touted benefits to workers from the UK government’s proposed shake-upAmid all the jargon of the latest announcement on pensions, one number will have leapt out: the claim that the average worker will gain £6,000 in their retirement fund as a result.The figure comes from the government’s final report of its Pensions Investment Review published on Thursday. It lays out plans to shake up defined contribution pensions, the funds that invest workers’ regular payments in stocks, shares and other assets to grow the money. These provide workers with an income on retirement based on the value of their stake; the size of this income will depend on how much they have paid in and how well the investments have performed. Continue reading… Pensions, Politics, Money, UK news, Consumer affairs, Consumer rights, Pensions industry, Business, Retirement planning Business | The Guardian
