Is there a place in the UK Defined Contribution pensions market for a guaranteed savings product?
| Autor: | P. Barker, G. Foroughi, D. Hunter, J. Muthulingam, S. Eason, K. Murray, T. Page, N. Odozi, P. Murphy, Suzanne P. Jarvis, J. Harsant, V. Knava, A. Webb, K. Washoma, G. Jones |
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| Rok vydání: | 2013 |
| Předmět: |
Statistics and Probability
Rate of return Mass market Finance Economics and Econometrics Labour economics Pension business.industry media_common.quotation_subject Financial risk Certainty Consolidation (business) Value for money Economics Expected return Statistics Probability and Uncertainty business media_common |
| Zdroj: | British Actuarial Journal. 18:624-656 |
| ISSN: | 2044-0456 1357-3217 |
| DOI: | 10.1017/s135732171300024x |
| Popis: | The UK has seen a significant transition from Defined Benefit (“DB”) to Defined Contribution (“DC”) for occupational pension saving. The planned automatic enrolment program starting in 2012 is expected to increase the use of DC. The main features of DC are that investment risk falls onto the individual during the pre-retirement phase and that there are no guarantees as to investment returns or the level of pension. In July 2012, Steve Webb, the Pensions Minister, challenged industry to think hard about meeting the need for more certainty about pension savings in DC plans and to consider providing an affordable ‘Money Safe’ guarantee where the member would get back at least the nominal value of their contributions (individual, employer and tax relief). This paper explores whether this is viable for the mass market. |
| Databáze: | OpenAIRE |
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