The average target pension pot set by UK retirees would only last 11 years in retirement, according to research from Retirement Review as Money Marketing reports.
Based on survey responses, the average personal pension savings goal is £253,701.40, intended to fund an annual retirement income of £30,050.20.
This disjoint is going to become an increasing challenge for policymakers.
Wingate Financial Planning’s Alistair Cunningham argues that advisers cannot remain the only ones held accountable for people’s financial decisions. Regulation must reflect where influence comes from and that includes Finfluencers, he writes in Money Marketing.
Some fascinating numbers in FTAdviser. According to the latest census from recruitment company BWD, advisers belonging to a network earn £96,773 on average, compared to £114,097 for those who have gone directly authorised.
Model Portfolios with high equity exposure have lagged in the first quarter as Professional Adviser reports. Not too surprising given recent events, perhaps.
There’s a lot of debate about the merits or not of private market investment. Research in Corporate Adviser suggests that a 10 per cent allocation to private markets could increase the fees of a typical default fund by 19 bps but boost annualised net returns by 67 bps, a study by Neuberger Berman finds.
Citywire reports that the government won’t scrap cash ISAs, in an interview with the Pensions minister Torsten Bell. Nice scoop.
Bank of England governor Andrew Bailey says that the central bank’s resolve to drive down inflation is “unwavering” despite the quarter-point rate cut, as Mortgage Strategy reports.
