Who’s Who in finance: The Pensions Expert – With Kevin LeGrand of the PMI

by Mar 21, 2017

Invstr’s Lea Jakobiak got an overview of how the pensions industry works from Kevin LeGrand of The Pensions Management Institute.

Video Transcript

Kevin Legrand (President, PMI): 

The pension system is broadly funded which means that people, individuals, and their companies if they’re employed by companies pay money into a pot, into an arrangement, and then that’s invested over the working life of the individual and then at the end of the working life, when the individual comes to retire, that money is then used to pay out retirement. To the extent that it’s funded there’s about 1.5 trillion pounds worth of assets currently being used to manage those to provide those pensions to people. It means that everybody who is employed by an employer will get put into a pension arrangement. Broadly speaking, it’s a 1 5 5 pounds a week bigger that go to apply in most cases. So therefore you really do need to be putting some money away to have an additional pension to top that up if you are going to have any kind of meaningful nice retirement.

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