Law Debenture at PMI Seminar
30 October 2015
‘Greater member interest in retirement options – but so far limited follow through’ says LawDeb Pension Trustees’ director Vicky Paramour when talking about the new pensions freedoms
In her presentation at a recent PMI technical trustee seminar Vicky Paramour concluded that scheme members had shown more interest in their retirement options since greater pensions freedoms were introduced earlier in the year. However, so far there has been limited follow through with the majority not taking up the new options at this time.
Vicky Paramour was one of the presenters at the seminar that addressed the range of changes brought about by the new freedoms and sought to help enable trustees to face the new environment with confidence.
Vicky focussed on the changes schemes had made in light of the greater freedom and confirmed she expected changes in members’ behaviour. She highlighted the changes made to retirement options and investment strategies in DC schemes and stressed the importance of good member communication.
Vicky commented that she ‘was pleased to be able to share Law Debenture’s experience of the new freedoms from the perspective of its clients’ schemes and their members. We have not been surprised that people are interested in exploring their retirement options – but that they are cautious about making changes.’
She also confirmed that LawDeb Pension Trustees support the objectives of the PMI’s series of technical seminars and was pleased that our experience and expertise continues to contribute towards providing guidance about operational effectiveness.