News in brief - 12 August 2022

The Pensions Management Institute (PMI) has unveiled the trailer for the new documentary series, Purposeful Pensions.

The new multi-part documentary series will investigate how investing money with purpose can help businesses grow, support the world in becoming more sustainable, and help to deliver a more comfortable and meaningful income in retirement. The series, created by Zinc Communicate, will be showcased at the PMI’s Pinnacle Awards, before being made available to watch on the PMI website. PMI chief executive, Gareth Tancred, explained that the video was commissioned to show the benefits the pension industry brings to people's lives and the economy, and to encourage more people to engage with their pension and consider a career in the industry.

New research has revealed a “significant discrepancy” between how people share their goal of a good retirement with family and a financial adviser.

Canada Life suggested that financial advisers could have a “major opportunity” to leverage the power of family influence to improve relationships and build better engagement, after research revealed that while two-thirds (66 per cent) of savers have shared their vision of their retirement with their family, less than a quarter (23 per cent) have communicated this to a financial adviser. In light of the findings, Canada Life marketing director, Lara Bealing, said that by recognising the important role families play in savers’ thinking, there is an opportunity for advisers to “leverage the emotional connections and psychology that sits behind this to build better engagement with their clients and encourage a longer-term mindset to financial planning”.

The government is to respond to petition calling for £200 minimum pension guarantee (MPG).

A new petition calling for a MPG of at least £200 per week for state pensioners has surpassed 10,000 signatures, with the government now expected to respond within seven days. The petition has called for an MPG of at least £200 per week to be set for all state pensioners, irrespective of gender, marital status or contribution record, to remove anomalies in the pension system, including the growing discrepancy between the old and new state pensions. The petition has reached 13,984 signatures, therefore surpassing the 10,000 signature threshold required to warrant a government response.

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