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Press comment: AE a sucess but work is not done

24/10/2019

If you’re covering The Pensions Regulator’s annual automatic enrolment report please see the following comment from Ian Browne, pensions expert at Quilter:

Ian Browne“Automatic Enrolment is a good news story during what otherwise has been  a challenging time for politics. It’s success is hard to argue with as the report shows not only has the overall number of people now in a pension increased, more people are proactively asking to join a scheme and the gender pension gap is decreasing.

“However, the job is not done. How many of those enrolled have looked to see if the default fund is appropriate? Are they aware that by itself minimum contribution saved through AE are unlikely to give them enough for a comfortable retirement?

“Engagement is going to be harder to achieve and measure, but it needs to be a focus. One of the best ways to realise just how far your money will stretch is to engage a financial adviser. They can paint a realistic picture of how much you can live on day by day in retirement and whether you’re on track to achieve that goal. Given AE has been facilitated through employers, the onus is on them to find a way to either promote or provide financial advice and guidance.”

For more information contact

Kathleen Gallagher023 8072 629307990 004932kathleen.gallagher@quilter.com

Notes to Editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.7 billion in investments (as at 30 September 2019).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

Wealth Platforms includes Old Mutual Wealth UK platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

The Quilter plc businesses are being re-branded as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Charles Derby Group (becoming Quilter Financial Advisers)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.