MyCSP speaks at conference on reforming UK pensions

17 Apr 2014

Currently more than 10 million people in the UK are aged over 65 and between 2012 and 2050, the proportion of people aged 65 and over is projected to increase from 17 to 24 per cent.

Statistics from the Department for Work and Pension’s White Paper Reinvigorating workplace pensions, November 2012, highlight the extent of the problem estimating that 11 million people currently aged between 22 and State Pension age will not save enough for retirement. Subsequently, the UK’s pension system is in great need of reform with many citizens unable to save enough to deliver the necessary retirement earnings.

Last year, the Pensions Bill 2013-14 was put to parliament and is expected to receive Royal Assent by April 2014. This will introduce a single-tier state pension of £144 per week, bring forward the increase in the state pension age to 67 and introduce a system of automatic transfers for small pension pots while strengthening existing legislation for private insurance packages. Moreover, automatic private pension enrolment began in October 2012 with all employers now being required to assess their workforce and automatically enrol eligible workers into a pension scheme.

In his presentation on Wednesday 23rd April 2014 at the Victoria Park Plaza, Alan Brown, Key Client Director at MyCSP, will outline how the administration of the Principal Civil Service Pension Scheme is being transformed to meet future requirements.

Delegates will also discuss the current and future challenges for public sector pensions and, through hearing from policy experts and topical case studies, will understand the implications of the latest and impending pension reforms and how to adapt to these moving forward.

Delegates will include pension managers and officers, human resources, fund managers, account managers, treasurers, audit managers, finance officers and directors and corporate services managers; and will be drawn from central government, local authorities, health and education sectors, pension providers, insurance companies, legal practices, think tanks and the voluntary and private sector.

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