{"id":9749,"date":"2023-11-27T15:19:29","date_gmt":"2023-11-27T15:19:29","guid":{"rendered":"https:\/\/www.isio.com\/?post_type=person&p=9749"},"modified":"2024-04-17T07:51:36","modified_gmt":"2024-04-17T06:51:36","slug":"paul-moffatt","status":"publish","type":"person","link":"https:\/\/www.isio.com\/person\/paul-moffatt\/","title":{"rendered":"Paul Moffatt"},"content":{"rendered":"\n<section class=\"bg-white py-24 lg:py-40\">\n <div class=\"container\">\n <p class=\"text-3xl md:text-4xl font-light leading-[3rem] lg:max-w-[75%] text-brandGreen-100\">\n I\u2019m a Director in our public service team and lead our work in the healthcare sector, on the unfunded public service schemes and on pensions tax. I\u2019m also part of the leadership team in our Leeds office working with a brilliant, dynamic group of people, from our talented new graduates to our senior team, many of whom I\u2019ve worked with for over a decade. Becoming Isio has been an exciting journey and I\u2019m certain we will continue to grow and make our mark on the industry. <\/p>\n <\/div>\n<\/section>\n\n\n\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n <section class=\"bg-brandGrey-100 py-24 lg:py-40 overflow-hidden bg-contain bg-no-repeat bg-left\" style=\"background-image: url('')\">\n <div class=\" container quoteSwiper overflow-hidden\">\n <div class=\"swiper relative\">\n <div class=\"swiper-wrapper mb-14\">\n\n <div class=\"swiper-slide\">\n <div class=\"px-5 md:flex items-center md:gap-24 max-w-[500px] md:max-w-none md:w-3\/4\">\n <div class=\"text-left md:w-1\/2 \">\n <p class=\"text-brandGreen-100 text-[1.375rem] font-medium leading-6 mb-6 pQuote \"> Defined benefit is not dead! There are around 6 million public service workers who are active members of such schemes. Will the gap between public and private sector pension provision close over time? <\/p>\n <p class=\"text-brandGreen-100 font-semibold \">Paul Moffatt<\/p>\n <p class=\"quote-company text-base text-black font-light\">Director & Leeds Office Head<\/p>\n <\/div>\n <\/div>\n <\/div>\n \n\n <\/div>\n <div class=\"swiper-button-next right-[36%] md:right-[42%] -bottom-[55px] top-auto\"><\/div>\n <div class=\"swiper-button-prev left-[36%] md:left-[51%] -bottom-[55px] top-auto\"><\/div>\n \n <\/div>\n <\/div>\n <\/section>\n\n\n\n\n\n\n<section class=\"text-wrapper text-block small \">\n <div class=\"container\">\n <div class=\"acf-innerblocks-container\">\n\n<p>I am proud to be on the steering committee of the Living Wage Foundation\u2019s Living Pension project. The launch of this standard in March 2023 has changed the conversation about the minimum level of contributions to DC schemes required for a comfortable standard of living in retirement. The next phase of the project is to consider how the standard can be applied to defined benefit schemes.<\/p>\n\n\n\n<p>Thinking about the defined benefit schemes in the public sector through this lens is interesting. Average member contributions to the NHS pension scheme are 9.8% of pay. This is much higher than the 5% assumed in the Real Living Wage calculation and is why many low paid workers in the NHS are opting out on affordability grounds. Every 1% counts in a cost of living crisis.<\/p>\n\n\n\n<p>The answer has to be more flexibility, giving people the opportunity to change the balance between current pay, short term savings and long term savings (pension) to suit their circumstances. This will improve staff retention so is a \u201cwin win\u201d for employers and employees. It can be done!<\/p>\n\n<\/div>\n <\/div>\n<\/section>\n\n<\/blockquote>\n\n\n\n<div class=\"get-in-touch md:h-[250px] bg-no-repeat bg-bottom xl:bg-left-bottom bg-brandGreen-light py-14 md:py-0\">\n\t<div class=\"container text-white flex flex-col md:flex-row items-center space-between h-full\">\n\t\t<div class=\"flex flex-col xl:flex-row items-center md:items-start xl:items-center\">\n\t\t\t<h2 class=\"text-left text-5xl xl:basis-[400px] mb-8 xl:mb-0\">Get in touch<\/h2>\n\t\t\t<p class=\"text-2xl px-5 md:px-0 xl:basis-[320px] mb-6 md:mb-0\">Talk to us today to see how our bolder thinking can get you better results.<\/p>\n\t\t<\/div>\n\t\t<div class=\"flex flex-col xl:flex-row items-center\">\n\t\t\t\t\t\t\t<a href=\"tel: +44 (20) 7123 6000\" class=\"xl:w-[280px] font-semibold text-[26px] whitespace-nowrap\">+44 (20) 7123 6000<\/a>\n \t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":11264,"template":"","meta":{"_acf_changed":false,"footnotes":""},"department":[13],"class_list":["post-9749","person","type-person","status-publish","has-post-thumbnail","hentry","department-actuarial-and-consulting"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - 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