PLENARY FIVE
PENSIONS ADEQUACY
Alyshia Harrington-Clark | Head of DC, master trusts and lifetime savings | Pensions and Lifetime Savings Association (PLSA)
The PLSA has been conducting research and collecting evidence to inform proposals for the future scope and design of automatic enrolment and other retirement saving policies.
It has made recommendations regarding increasing contribution levels and targeting individuals in under-pensioned groups.
In the session, Alyshia covered: ● an update on the work being undertaken on pensions adequacy ● initial findings from ongoing research regarding the drivers of inadequacy ● potential policy changes and tweaks, along with new ideas which could help reduce inadequate outcomes.
PLENARY SIX
LIVING WAGE FOUNDATION – PAST, PRESENT AND FUTURE
Shelley Morris | Senior project manager (Living Pensions) | Living Wage Foundation
Those who attended plenary six were treated to discussion of the Living Wage Foundation and its past, present and future. The Living Wage Foundation is responsible for calculating the real living wage rates, which are based on the cost-of-living.
There was discussion of what the recently announced rate for London is, and that of the rest of the UK, and why paying the real living wage rate is beneficial for not just workers, but also their employers.
Shelley then explained what the Foundation’s aims for the future are, including: ● making living wage cities and boroughs ● a global living wage ● looking at creating living hours, including guaranteed minimums of 16 working hours per week ● extending living standards into retirement.
The session ended with a video showing the difference the real living wage has made to individuals’ lives.
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THE CHARTERED INSTITUTE OF PAYROLL PROFESSIONALS
22.10.11 ACE22 Supplement.indd 6
21/10/2022 17:10
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