Employers becoming more engaged with pension scheme management
Employers are becoming more engaged with the management of their pension schemes and are increasingly taking primary responsibility for de-risking, new research suggests.
The study by MetLife Assurance shows 61% of companies with turnover of £1m or more accept primary responsibility for de-risking. This is compared to 46% when the research was last conducted in 2010.
Of the 61%, two fifths of the companies say de-risking is the employer’s primary responsibility in conjunction with trustees, while 21% answered that it is their sole responsibility. These figures have increased from 24% and 22%, respectively.
Wayne Daniel, Chief Executive Officer at MetLife Assurance, says: “Employers increasing engagement with pension schemes and acceptance of responsibility is welcome and signifies more collegiate working relationships with sponsors and trustees.
“It is expected that the closer working relationship between employers and trustees will be beneficial when exploring solutions and achieving the best outcomes for schemes and their members.”