July 2024

In this month’s newsletter we’ll be taking a deeper look at our 2024 Impact Report, how to optimise your pension oversight group and Hymans Robertson Personal Wealth’s (HRPW) midlifer survey research on financial wellbeing.

We're excited to share this year's Impact Report, our first since becoming B Corp certified last summer. Joining the B Corp community was a major milestone for us. Beyond providing better financial futures for millions, we strive to positively impact our people, communities, and the environment, which we deliver through a wide programme of activities and initiatives. A few of our key achievements in the last year included:??

• Reducing our core emissions by 57%.?

• Over 2,200 volunteering hours recorded by our people.?

• Supporting 1,270 young people through the Hymans Robertson Foundation and donating over ￡150,000 to eight charity partners.??

Discover more in our full report here:?https://bit.ly/3WtlA1Y

Your organisation's pension scheme is a significant investment with inherent risks and responsibilities. An effective oversight group is vital for maximising value and ensuring great retirement outcomes for employees. Consider these four key elements for an effective pension oversight group: an engaged and diverse group, clear aims and processes, leveraging support and advice, and alignment with your corporate strategy. Learn more here: What makes an effective pension oversight group? - Hymans Robertson ?

How can you test the effectiveness of your oversight group? Ensuring good member outcomes and providing adequate retirement support are top priorities, with increased focus from government policy and regulators. Ask yourself these key questions:?

• Are members actively supported in achieving good outcomes in retirement??

• Are you achieving measurable value from your pension spend??

• ?Do you ensure your members are considered as a distinct group??

• Are your corporate objectives for pension provision still being met??

• Is there clear consistency with your declared corporate commitments and policies??

Discover more here: Five key tests for effective oversight of your pension scheme in 2024 - Hymans Robertson ?

HRPW surveyed over 2,000 midlifers, 40–60-year-olds, and found many are feeling disillusioned and anxious about their financial futures. Many were too late to benefit from auto-enrolment but were too young to be cushioned by generous DB pensions. Some of the key statistics were:?

• 1 in 4 support both their children and ageing parents?
• 1 in 3 didn't start saving for a pension until after age 30?
• 37% only began saving into a workplace pension when auto-enrolled?
• 41% aren't confident they'll achieve their retirement plans?

Discover key insights from the research here ?

To learn more from HRPW's research and find out how employers can help improve the financial wellbeing of their midlifer employees, sign up to their upcoming webinar here: Supporting your midlife employees' financial wellbeing

Excellence in buying out your Scheme and the role of the sponsor - Hymans Robertson ?

Solvency UK finally takes shape - Hymans Robertson ?

Using your DB surplus to fund DC - Hymans Robertson ?

Preparing for your 2025 valuation: what can you do now to get ahead? - Hymans Robertson ?

Insurance & Financial Services 10th Annual Conference –? 3:30pm, 18 September 2024?

Shaping corporate pension strategies for the future – 5:30pm, 26 September 2024?

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