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The
UK pensions industry has undergone a period of immense change.
This has been driven by a number of key factors: |
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Due
to the level of underfunding in many
Defined
Benefit
pension schemes, employers are increasingly closing these schemes in
favour of Defined
Contribution
arrangements for future member contribution. This trend has created a
compelling need for a simple, comprehensive range of investment
options that will adequately cater for member needs, as well as a
flexible, robust and reliable pensions-administration service for
member record keeping. |
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High levels of
volatility in investment markets |
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Periods of
falling stock markets |
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Reduced funding
levels in Defined Benefit pension schemes |
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The introduction
of Defined Contribution pension schemes |
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A changing
regulatory environment, including the framework of accounting
standards and government legislation. |
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