Video tutorial: Sir Steve Webb outlines the future of pensions


There are a number of key themes that will change the face of pensions over the coming years, according to Sir Steve Webb, director of policy Royal London and ex pensions minister.

Speaking at the REBA Reward Leaders' Forum he said they included the move from defined benefit to defined contribution – a situation Webb described as living in a ‘false reality’.

He said the success of auto-enrollment had to be built upon to get the defaults right so that people are able to retire with the amount they want.

Webb said the shifting age balance of the workforce would also impact employers hugely too.

What was once a lifetime product held with one employer will also change, according to Webb. “Pensions are going to be detached from employers – increasingly it will just be a portable pot of money,” he said.

This video tutorial was filmed at the REBA Reward Leaders' Forum which took place on 27 April 2017.

 



Read the next article

Topic Categories


Related Articles



Sponsored Articles



Editor's Picks

What crisps can teach you about employee experience


Join our community

 

Sign up for REBA Professional Membership and join our community

Professional Membership benefits include receiving the REBA weekly email alert, gaining access to free research and free opportunities to attend specialist conferences.

Professional Membership is currently complimentary for qualifying reward and benefits practitioners. 

Join REBA today