Pensions professionals believe that members of Defined Contribution (DC) schemes will be better off.
The Society of Pension Professionals (SPP) commenced their month-long annual conference with an event on the future of DC schemes. Polling of industry professionals at this event revealed that nearly two thirds (62%) of attendees believe that DC scheme members will be better off in 10-20 years.
Nearly a quarter (23%) believe DC scheme members will be better off in as little as five years. In contrast just 15% stated DC scheme members would not be better off in five years’ time.
Sophia Singleton, SPP President, said:
“SPP’s industry polling suggests that there is real confidence that the government is on the right track with its various reforms from Value for Money and delivering scale to targeted support and the establishment of a Pensions Commission. The SPP will continue collaborating with government and regulators to ensure these reforms are the best they can be, to maximise outcomes for all savers.”
The event was the first in a series of SPP conference events taking place every Thursday in September.
