Preparing Pension Members for Annuities

The online report where pension scheme managers, trustees, human resource managers, finance directors and third party solution providers asses the rising challenge of preparing scheme members for their retirement income options.

With the rapidly increasing move from defined benefit to defined contribution pension schemes, pension managers and trustees as well as the company sponsors are passing over responsibility for both saving and annuity selection to employees.

However, as a result of lack of engagement and education on annuities many trustees are beginning to show concern that employees will turn responsibility back on them and their employer through legal action should they feel in retirement they haven’t chosen an appropriate annuity to their personal situation.

Preparing Pension Members for Annuities is a report written in conjunction with the pensions industry and third party providers to analyse the key steps trustees and company sponsors can take to prepare pension members for their retirement decisions and create best practise in this key area.

Key issues the report will cover are:

Overcoming inertia, procrastination and lack of awareness
End zone – creating an annuity selection platform
Investment and default fund factors
Building an employee education strategy
New legal requirements and repercussions

This report is ideal for all those involved in annuity and pension matters to understand how to prepare members for one of their biggest decisions of their life and avoid any financially destructive consequences from failure to do so.