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GLOSSARY

Pensions Policy Institute definition

Published by a LexisNexis Pensions expert

What does Pensions Policy Institute mean?

A charitable academic organisation funded by the industry and well-wishers to provide independent research on pensions and pensions policy.

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All key pensions bodies

All key pensions bodies Association of Consulting Actuaries (ACA) The Association of Corporate Trustees (TACT) Association of Pension Lawyers (APL) Association of Professional Pension Trustees (APPT) Confederation of British Industry (CBI) Department for Work and Pensions (DWP) Financial Assistance Scheme (FAS) Financial Conduct Authority (FCA) Financial Reporting Council (FRC) Government Actuary's Department (GAD) HMRC Pension Schemes Services Institute and Faculty of Actuaries (IFoA) Institute for Fiscal Studies (IFS) Investment Association (IA) Money and Pensions Service (MaPS) (previously known as the Single Financial Guidance Body (SFGB)), which has brought together The Pensions Advisory Service (TPAS), Pension Wise and the Money Advice

Artificial intelligence (AI) and pensions

Artificial intelligence (AI) and pensions FORTHCOMING DEVELOPMENT: On 3 February 2025, the House of Commons Treasury Committee launched an inquiry into AI in financial services to explore how UK financial services, including pensions, can take advantage of opportunities in AI while at the same time mitigating threats to financial stability (eg cybersecurity risks) and safeguarding financial consumers, particularly vulnerable customers who may be at risk of bias. For further information, see LNB News 04/02/2025 12. What is artificial intelligence (AI)? Artificial intelligence (AI) refers to computer software and systems that are capable of demonstrating human intelligence. They can learn, plan, reason or process natural language as they go rather than only relying on pre-programmed tasks. With AI expected to transform financial services, it is in the best interests of pensions professionals, trustees, employers, providers and others involved in the running of pension schemes to consider the opportunities and risks which AI may present (both now and in the future). Any consideration of AI will inevitably require some familiarity...

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Survey finds over one million gig workers ‘can’t afford’ to save for a pension

Law360: More than a million 'gig' workers in the UK cannot afford to save into a pension, a retirement savings company has said, amid growing fears that younger and more precarious workers will not have adequate savings in later life.