The 2025 Underpensioned Report, published by Now:Pensions in partnership with the Pensions Policy Institute (PPI), shows that almost nine million people in the UK remain significantly underpensioned compared to the broader population. Money Marketing reports.
The report suggests that the underpensioned groups have annual private pension incomes ranging from £3,650 to £6,750. Not good news for these groups or for society at large. We are still to have a proper debate in the UK about adequacy.
I have to say among many other mini-crises this doe sound like one of the most important facing the UK.
Corporate Adviser suggests that the next stage of the Mansion House agreement, understood to be called the ‘Mansion House Accord’ has been delayed. It would see defined contribution providers pledge to invest 10 per cent of default funds into private markets, of which half will be in the UK.
There is a lot to be debated, but for now it sounds voluntary. I struggle to see how it can be made compulsory without extreme ructions.
Interesting view from one of the online advisers - “We don’t see a massive gap in risk appetite between male and female investors,” says Claire Exley, head of financial advice and guidance at Nutmeg, as FTAdviser reports.
An interesting development at one big national firm. Foster Denovo has scrapped bundled charging on own fund range following FCA guidance that clients can be switched compulsorily into another share class if it is in their best interests.
Citywire New Model Adviser, which always has very strong coverage on this sort of development, reports.
The FCA said it is seeking views on plans to regulate crypto currencies including the role of intermediaries, staking, lending and borrowing, as well as decentralised finance. The resulting discussion paper will be published with the aim of developing a "safe, competitive and sustainable cryptoasset sector" as Professional Adviser reports.
I can see a lot of debate for whether advisers dare start advising on such assets and have seen a few rows between advisers. You have to assume they will not be allowed inside tax wrappers, but it could be the general direction.
