Alexandra Miles, senior strategy manager at L&G, joins Paul Kitson, head of UK pensions consulting at EY and Charlotte Moore, co-founder of Moore Squared Communications, on the latest episode of EY’s Re-imagining Pensions Podcast.
Alexandra does much more than her day job – she’s also chair of the IFoA’s pension gap and ageing populations working parties. She recently wrote a report looking at how to Re-imagine retirement, making her the perfect guest for the show.
Alexandra kicks off the episode sharing her three killer facts about retirement – which includes the size of the pensions wealth gap – all of which illustrate there is more to be done to make our retirement fit for the future.
She tells us about the retirement sketches she worked on – explaining the difference in pensions prospects for Renee and Paul. This illustrates the pensions gender gap challenge.
Not only do women lose out on pensions contributions when they have children but as they live longer than men, they need more money for care in retirement.
This is not the only pensions gap. Alexandra has investigated the pensions assets of different ethnic groups as well as thinking how we can bridge the gap between the employed and the self-employed.
We talk about the importance of community pensions and deliberative democracy can help to make citizens feel greater ownership of their retirement wealth.
And we also unpack how an ageing population is fundamentally reshaping out society but no policy makers are grappling with full magnitude of the changes. Alexandra explains how actuaries can help to make this change more real to policy makers and quantify the risks.
Finally, Alexandra tells us what she would change if she had a magic wand. And it has nothing to do with GMP equalisation!
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