Published in November 2012, this research highlighted the key issues and challenges concerning the future of UK pensions. Based on the expert views of more than 250 trustees, corporate sponsors and industry professionals, the findings touched on the social, financial, employment and regulatory structures needed to support a retirement lifespan that could be as long as a person’s working life.
Gabriel reported on the findings of the research for each stakeholder group and wrote reports summarising the implications for policymakers, employers, individuals and industry providers. The research pre-empted a lot of the changes seen in the last two years and drew attention to matters that have yet to be fully embraced: that successive governments must think and act long term; employers need to drive employee engagement and offer more flexible benefits; trustees need more support; and the importance of technology and product innovation.
Among the experts who contributed to the research were: Tom McPhail, Head of Pensions Research, Hargreaves Lansdown; Robin Ellison, Partner, Pinsent Masons; Malcolm Small, then Director of Policy, Tax Incentivised Savings Association; Charles Cotton, CIPD Advisor, Performance and Reward; Kevin LeGrand then Principal and Head of Pensions Policy, Buck Consultants; Jeremy Fawcett, Head of New Platform Channels, The Platforum; Mark Polson, The Lang Cat; Andrew Kirton, Global Chief Investment Officer, Mercer; and Morten Nilsson, CEO, NOW: Pensions.
The report was presented to the then Pensions Minister Steve Webb by Aberdeen CEO Martin Gilbert at a Pensions Intelligence forum where Steve Webb gave his response and outlined his vision for the year ahead.