The Pensions Commission issued its interim report essentially into the adequacy or more accurately the inadequacy of pensions savings in the UK.
Most titles played it straight focusing rightly on the fact that auto-enrolment was not set to deliver decent incomes in retirement with 15 million undersaving.
Here is Corporate Adviser warming to theme - Pensions Commission highlights AE undersaving and calls for 'renewed national settlement' on pensions.
Investment & Pensions Europe noted pension industry calls for the Pensions Commission to be brave in its set of recommendations due in the final report next Spring.
In Pensions Expert, Pensions UK's Mathew Blakstad sets out that trade body's priorities. (It was formerly the Pensions and Lifetime Savings Association.)
I don't actually see a lot of detail about Pensions UK's position, but this quote is interesting.
"We are pleased to see the Pensions Commission highlighting the clear risks that arise from the ‘pension freedoms’ in relation to how pension pots are accessed and managed.
"Pensions UK has long called for a framework that requires schemes to deliver sustainable incomes at retirement. The Commission highlights the important role of defaults in protecting individuals from facing complex choices and associated risks."
Taking a deep breath because your reviewer (with apologies) is about to blow his own trumpet, frankly, this story needed four or five headlines and the specialist IFA press while dutifully reporting on day one, don't seem to have got round to this yet. It will, no doubt, come in the next few days and weeks but probably as authored features from providers and trade bodies.
One thing that hasn't really been picked up is the scepticism about decumulation, albeit noted by Mr Blakstad above.
Anyway, here are a few headlines from what I wrote on Octo Members. Please note the one which advisers need to watch out for, although it is early days, is the frequent discussion of price caps for retirement solutions, amid concerns about a sort of decumulation crisis. It is certainly worried about non-priced capped Sipps being used as consolidation vehicles. I also express some cynicism about the current political and economic context. Undersaving, one might think, could be addressed by encouraging, requiring or cajoling more saving. But don't bank on it given the failure to implement even minor changes to age brackets and income levels since 2017 even when change was essentially recommended by the government itself!
Advisers take note - the Pensions Commission may be warming to recommending price-capped drawdown
A state pension Catch 22 | Octo Home
Even delayed action on pensions inadequacy is not a foregone conclusion
Other news - well it feels as if Space X, and like soon after Open AI and Anthropic IPOs are going to have a huge impact on global markets for good or ill.
They will be straight into many indices, and no doubt feature in many IFAs' portfolios. But are advisers happy with such decisions being made by default. We'll keep our eyes pinned for views on this. But here is the FT's take including the fact that billions will be sold of other shares to take up these allocations.
You do have to wonder if the following story will have ramifications down the line. New Model Adviser reports on research showing that advised clients didn't know how much platforms were generating in cash interest and some were horrified when they found out.
Anyway, having been a little critical of some of the trades' story selections this week, you have to say at least Investment Week is asking exactly the correct Big Question: How are you playing the space theme? Nine experts respond.
