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20 August 2021

Supporting good member decision making

Read PMI Academy partner Spence’s manual on decision making.

Why bother?

Why should trustees bother to help pension scheme members with their choices, beyond any legal requirements?

Well, there are a few points worth considering:

  • Most people find the subject of pensions, especially defined benefits (DB), difficult to understand.
  • The average reading age in UK is 12.
  • 49% of the UK population have the numeracy skills of an 11 year old.
  • For some members, their pension can represent a big chunk of their personal wealth.
  • Financial advice is increasingly unaffordable for the average scheme member.
  • The average DB transfer value is now larger than the average UK house price.

Download the manual below.


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Last update: 7 September 2021

Interim Pension Officer/Manager - In House 18m FTC

Salary: £50000 - £70000 pa

Location: Northamptonshire

Pensions Administrator - W. Yorkshire

Salary: £23000 - £29000 pa

Location: West Yorkshire

Pensions Administrator - Hampshire

Salary: £20000 - £30000 pa

Location: Hampshire