This year's Pension Awareness Week in the UK has raised new questions for schemes and employers in light of the current cost-of-living issues, according to Aon.
The consultancy today (31 October) said that successfully engaging people with their pensions could result in unintended consequences. Among the issues raised was the possibility that individuals could be more inclined to cease their contributions or request early access to their pension savings, it said. "While these options may provide short-term financial relief, they would be likely to have a negative impact on longer-term retirement plans and may result in people finding they need to delay their retirement for several years. "It is important to get the balance right and to make s...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
