Infographic: FTSE 100 Defined Contribution Pension Scheme Survey 2013 - Towers Watson
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Infographic: FTSE 100 Defined Contribution Pension Scheme Survey 2013 - Towers Watson

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How the UK's leading companies are dealing with the latest developments in the UK's pensions and what impact they may have on employers of all sizes in the near future.

How the UK's leading companies are dealing with the latest developments in the UK's pensions and what impact they may have on employers of all sizes in the near future.

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    Infographic: FTSE 100 Defined Contribution Pension Scheme Survey 2013 - Towers Watson Infographic: FTSE 100 Defined Contribution Pension Scheme Survey 2013 - Towers Watson Document Transcript

    • FTSE 100 defined contribution pension scheme survey 2013 At a glance This is the ninth edition of Towers Watson’s FTSE 100 DC survey and is based on data from over 90% of the FTSE 100 employers. For more information contact Will Aitken at will.aitken@towerswatson.com or +44 20 7227 2006 58% DC members 24% Non-joiners18% DB/Hybrid members The average employer with a DC scheme has fewer defined benefit/hybrid members in their workforce than pension non-joiners Increase in DB ‘hard closures’ Impact of auto-enrolment At the current pace of change all schemes will be closed to future accrual within 10 years are already auto-enrolling (many before they legally have to) 90%+50% typical take-up when auto-enrolledI am in Two schools of thought on DC design Flat no matching average 11% in total Flat with matching average 16.6% in total A higher proportion of contract-based members invest in defaults than their trust-based counterparts. (Typically trust-based have between 5-15 fund options, while contract-based typically offer more than 50 options.) More choice less choosing Wider benefits Over 75% do not... Provide employees with the ability to flex pension into other benefits Provide corporate savings plans Only 0.36%annual management charge for the average employee Over a quarterof employers do not offer at-retirement broking