Risk of recession has passed, but people now need to look to their future
More than 50 finance, HR and pension professionals attended Quantum Advisory’s latest Breakfast Seminar at the Celtic Manor Twenty Ten Clubhouse which saw speakers discuss the UK economy, global investment markets, cybersecurity breaches and the state of the nation’s pensions.
Paul Francis, Principal Investment Consultant at Quantum Advisory, opened the event with an overview of how investment markets and UK and global economies have been performing despite geopolitical tensions and industrial unrest. Paul explained that with interest rates now normalising and inflation potentially at its peak, the current risk of a recession has reduced. Paul also talked about the Chancellor’s ambitious new ‘Mansion House Reforms’ which could increase pensions by over £1,000 a year for an average earner as well as boosting investment in promising UK ‘high-growth’ companies.
Chris Heirene, Partner and Head of Information Security at Quantum Advisory, examined the recent Capita cybersecurity breach which resulted in 90 companies being affected and cost more than £20m to rectify. Chris used his segment to explain simple steps that attendees can take to create a cybersecurity framework and ensure that, when a breach does occur, you get the best outcome for your organisation and the people whose data you are entrusted.
Stuart Price, Partner and Actuary at Quantum Advisory, concluded the seminar by highlighting the potential pension ticking time bomb the UK is facing where people are not saving enough for their retirement.
Stuart said: “Only 8% of people are currently saving enough to be able to enjoy a comfortable retirement with a car and holidays. Shockingly, nearly two thirds are saving the bare minimum. I think key to creating more awareness about pension saving and ensuring people take control over their retirement funds is financial education. We need to start engaging children with financial literacy at school and continue reinforcing this throughout their employment.”
Click here to view a brief video and hear more about what the speakers said during their presentations.
About Quantum Advisory
Quantum Advisory has offices in Amersham, Birmingham, Cardiff, and London and provides pension and employee benefits services to employers, scheme trustees and members. To keep up-to-date with its latest events or for more information about Quantum Advisory, please visit: https://quantumadvisory.co.uk/events.