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21st Century Schemes – Deciding on the right scheme design for your members

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How does LISA, automatic enrolment, Mastertrusts and other long term savings compare?

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21st Century Schemes – Deciding on the right scheme design for your members

  1. 1. 21 s t C e n t u r y S c h e m e s D e c i d i n g o n t h e r i g h t s c h e m e d e s i g n fo r y o u r m e m b e r s
  2. 2. P e o p l e h av e a l o t t o t a ke i n t o c o n s i d e r a t i o n …
  3. 3. W h a t d o e s g o o d l o o k l i ke ?
  4. 4. K n o w i n g e x a c t l y w h a t t h e y h av e t o d ay … . Age by pot value of active members Number of members 13,760 Average age 39 Total Pot value £567m Average pot value £42k
  5. 5. … a n d h o w m u c h t h e y p ay Age by contributions of active members
  6. 6. K n o w i n g w h e r e t h e y a r e o n t h e i r j o u r n ey … Beginning Middle End Age by contributions of active members split where they are on their retirement journey
  7. 7. £0 £1,000,00 0 Projected pot size of members at Retirement by Postcode … a n d w h a t t h e y a r e o n t r a c k fo r
  8. 8. 8 H e l p y o u r e m p l o y e e s t o s e c u r e t h e i r f i n a n c i a l f u t u r e s …
  9. 9. . . b y e m p o w e r i n g i n d i v i d u a l s t o m a k e g o o d d e c i s i o n s …
  10. 10. E A S TEasy Attractive Social Timely … t h ro u g h E A ST c o m m u n i c a t i o n
  11. 11. Te c h n o l o g y c a n h e l p …
  12. 12. Financial technology is becoming more per sonalised
  13. 13. “Hi Alexa, how should I save for my pension”? Pension technology needs to become more per sonalised
  14. 14. Emotional connection is needed for pension savings success
  15. 15. I ’ d l o v e t o h e a r f ro m y o u Lydia Fearn Head of DC & Financial Wellbeing lydia.fearn@redington.co.uk 020 3463 8050 @fearn_lydia in/lydia-fearn 2-6 Austin Friars, London EC2N 2HD Telephone : +44 (0) 20 7250 3331 www.redington.co.uk

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