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The Actuary The magazine of the Institute & Faculty of Actuaries

ACA survey 2005

In an echo of the Pensions Institute report the latest published results of the Association of Consulting Actuaries’ (ACA) 2005 pension trends survey underscore that employers’ greatest concern for the future is the impact of legislation on benefits and funding costs. These worries, in the light of ongoing pension scheme deficits equating to over £130bn reported by the survey , run ahead of all others and underpin employers’ pessimism about the effect of the 2004 Pensions Act measures on occupational pension provision.

Commenting on the survey findings at the ACA’s annual dinner, chairman Adrian Waddingham said: ‘The number of employees covered by any form of occupational pension scheme is in rapid decline – this is not disputed. The policy-mix must be wrong for this to be happening. 68% of employers say present policies to promote occupational pensions are not moving in the right direction .’

More on the results of the survey and on the ACA pension reform manifesto can be found at www.aca.com.