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PENSIONS
There are 1067 articles for the PENSIONS category
Over half (57%) of pensions accessed for the first time in the 2022/23 financial year were fully withdrawn, NFU Mutual has found
Posted: 17/04/2024
Nearly £2bn has been lost from pension savings since 2019, new data from the Financial Services Compensation Scheme (FSCS) has revealed
Posted: 17/04/2024
Over half (53%) of savers have said they see the move towards a pot for life as a positive change to the UK pension system, Barnett Waddingham has revealed
Posted: 16/04/2024
Retirees have an average £131,000 in retirement savings, despite hoping to save £250,000 into their pension pots, Standard Life has found
Posted: 11/04/2024
More than one in 10 (11%) of Generation X (born between 1965-1980) are paying more than the new state pension amount to care for family and friends, Just Group has found
Posted: 09/04/2024
The Epson (UK) Limited Pension Scheme has completed a £60m buy-in with Just Group, securing the benefits of 113 pensioners and 289 deferred members
Posted: 08/04/2024
Upping investment or pension contributions in line with inflation can increase the size of saving pots by up to £124,000 over 40 years, interactive investor has found
Posted: 08/04/2024
Only a third of high net-worth-individuals (HNWIs) have contributed more than £40,000 to their pension fund, 12 months after the allowance was increased to £60,000, Saltus has found
Posted: 05/04/2024
Forty-seven per cent of Gen Z are planning on moving to part-time work as they approach retirement in a bid to boost their retirement savings, research by Standard Life has indicated
Posted: 04/04/2024
The Energizer UK Pension Plan has completed a £44m full buy-in deal with Just Group, securing the benefits of all scheme members, including 409 pensioners and 358 deferred members
Posted: 03/04/2024
The gap between the poorest and richest single pensioners has increased "considerably" over the past decade, Broadstone has found
Posted: 03/04/2024
De Beers UK Pension Scheme has completed an £870m full buy-in with Pension Insurance Corporation (PIC), securing the pensions of 1,464 current pensioners and 473 deferred members
Posted: 02/04/2024
Over a third (34%) of adults have stated that the cost of childcare has stopped them from saving for their retirement, Phoenix Group has found
Posted: 02/04/2024
The trustee of the 2013 Next Group Pension Plan has completed a £510m full scheme buy-in deal with Pension Insurance Cooperation (PIC), fully insuring the pension liabilities of over 3,600 pensioners and deferred policyholders
Posted: 26/03/2024
Just under two fifths (39%) of savers are on track for a moderate retirement income, although some savers, particularly higher earners and homeowners, are doing better than average, according to Hargreaves Lansdown’s latest savings and resilience barometer
Posted: 25/03/2024
M&G has agreed its third bulk purchase annuity (BPA) deal since re-entering the market in 2023, signing a £309m premium on 15 March 2024
Posted: 22/03/2024
Almost three quarters (74%) of 18 to 34-year-olds have maintained their pension contributions despite the rising cost of living, according to a survey by Brown Shipley
Posted: 19/03/2024
Over £50bn in pension savings are at risk of being misplaced in abandoned accounts or scattered across multiple lost pots, PensionBee has found
Posted: 19/03/2024
Almost half (44%) of British people believe they will retire by their current retirement age, despite many not having a clear financial plan in place, according to research by SmartSave
Posted: 15/3/2024
One in seven (14%) retirees have returned to work, as their pension pot is not sufficient enough to fund retirement, Standard Life has found
Posted: 14/3/2024
The pension scheme for an unnamed engineering and construction company has agreed a £37m buyout with Just Group, securing the retirement benefits of 34 pensioners and 132 deferred members
Posted: 14/3/2024
Nearly half (48%) of pension savers are concerned that their savings will not last them through retirement, Investec Wealth and Investment (UK) has found
Posted: 13/3/2024
Almost a quarter (23%) of women aged between 22 and 29 would be frustrated if they could not retire by the time they reached 60, research from Scottish Widows has found
Posted: 11/03/2024
Just over 11 million savers have been newly enrolled into a workplace pension since auto-enrolment (AE) was introduced in 2012, data from The Pensions Regulator (TPR) has shown, as it announced plans to boost its employer compliance efforts
Posted: 05/03/2024
Almost three quarters (73%) of pension savers in the UK said they would consider opting for a ‘pot for life’ pension, PensionBee has found
Posted: 4/3/2024
A quarter (25%) of retirees aged between 55 and 64 are unaware of the option to defer their state pension, Just Group has found
Posted: 27/02/2024
Standard Life and Fidelity International have announced a strategic partnership with the forthcoming launch of the Standard Life Smoothed Return Pension Fund
Posted: 26/02/2024
Over seven in 10 (71%) financial advisers said that their clients’ biggest concern is outliving their pension savings, NextWealth has found
Posted: 22/02/2024
More than three quarters (77%) of adults in the UK do not feel confident about accessing their pension savings, research from Standard Life has found
Posted: 20/02/2024
The number of female widows who are over the age of 80 is over four times that of the number of male widows in the same age group, raising "important questions" for couples about their later life financial preparations, Just Group has said
Posted: 20/02/2024
Most people will now have to work longer or contribute more to their pension in order to maintain the same level of the Pension and Lifetime Savings Association's (PLSA) retirement living standards (RLS), Hymans Robertson has found
Posted: 19/02/2024
Retirees waiting until later in life to purchase annuities are most at risk of missing out on extra lifetime income by failing to shop around, Just Group has found
Posted: 19/02/2024
Less than half (47%) of pension savers reviewed their pension scheme in the past year, with just under a fifth (18%) regularly reviewing their pension, research from Investec Wealth & Investment has revealed
Posted: 16/02/2024
Over a third (38%) of retirees have admitted they did not check their state pension forecast before they retired, Just Group has found
Posted: 13/02/2024
Forty-five per cent of UK adults between the ages of 45 and 54 have said that retirement planning is easier in a long-term relationship, research by Phoenix Insights has found
Posted: 12/02/2024
A single person must have a pension pot of £738,000 in order to achieve a comfortable retirement, Quilter has found
Posted: 07/02/2024
One in 10 (11%) of Gen Xers are financially supporting elderly relatives with care costs, paying on average more than the yearly state pension, Just Group has found
Posted: 06/02/2024
Almost a third (31%) of Gen X (people aged between 42-57) are uncertain about when to retire, compared to a fifth (19%) of baby boomers and older generations (aged 58 and over), Standard Life has found.
Posted: 06/02/2024
People aged between 45 and 54 would need around six times their current savings to achieve a comfortable retirement living standard, Phoenix Group has found
Posted: 30/01/2024
The UK's ageing population has been driving up demand for retirement advice, research from NextWealth, sponsored by Aegon, has found, with more than two thirds (67%) of advisers reporting a change in demand for retirement advice as savers live longer
Posted: 26/01/2024
Fewer than one in 10 (9%) over-65s feel confident about managing their retirement finances, spelling potential uncertainty ahead for thousands of retirees, according to Standard Life
Posted: 25/01/2024
The iPSL Section of the Unisys Payment Services Limited Pension Scheme and the Unisys Public Sector Pension Scheme have completed a £300m full scheme buy-in with Standard Life, covering the retirement benefits of around 2,400 scheme members
Posted: 24/01/2024
Only three in 10 (30%) high earners are on track for a comfortable retirement, Hargreaves Lansdown has found
Posted: 22/01/2024
Parents could face a £183,000 pension saving shortfall after taking time out of work to raise children, research from Royal London has found, with gender imbalances continuing to have a costly impact on retirement savings
Posted: 22/01/2024
More than two thirds (69%) of savers would prefer their employer pick their workplace pension, increasing to 85% among those aged over 55, research from the Pensions and Lifetime Savings Association (PLSA) has revealed
Posted: 19/01/2024
Half of firms (49%) offering retirement advice are seeing an increase in demand for their services because of changes in pensions tax allowances, new research from NextWealth commissioned by Aegon UK has indicated
Posted: 18/01/2024
The average pension transfer time increased by 17% over the three years to 2023, rising from 10.7 days in 2020 to 12.5 days last year
Posted: 17/01/2024
Over one in five (21%) of younger people in Britain have said they have greater consideration for how much money they need to live on due to high inflation, Standard Life has found
Posted: 16/01/2024
Concerns over savers’ retirement adequacy have grown, after analysis from Hargreaves Lansdown found that retirement resilience has dipped and is expected to fall further in 2024 as house prices continue to fall and asset values do not rise in line with inflation
Posted: 16/01/2024
Nearly half (49%) of Brits who are not already retired, representing around 19.2 million savers, plan to work beyond state pension age (SPA), research from Canada Life has revealed
Posted: 15/01/2024
Just Group has urged retirees to double check the pension benefits they are entitled to, after finding that eight in 10 (79%) pensioner homeowners are failing to claim
Posted: 09/01/2024
The CP Pharmaceuticals Limited Pension Scheme has secured a £28m full buy-in with Just Group, securing the benefits of all 317 previously uninsured scheme members
Posted: 04/01/2024
Nearly a third (30%) of people aged between 45 and 54 believe visualising what they want their retirement to look like is the best motivation for retirement saving, research by Phoenix Insights has found
Posted: 02/01/2024
Almost one in seven (15%) people in the UK said that preparing for retirement has impacted their mental health, Standard Life has found
Posted: 19/12/2023
Over half (52%) of Gen X said they are not confident that they will have enough money saved to achieve a good standard of living after finishing work, Just Group has found
Posted: 19/12/2023
The trustees of the Westminster Abbey 1972 Retirement and Death Benefits Scheme have completed a £25m full-scheme buy-in with Pension Insurance Corporation (PIC)
Posted: 18/12/2023
Almost half (45%) of over-50s have said they don’t know that annuities come in many forms and with various options, Standard Life has found
Posted: 18/12/2023
The majority of UK adults aged over 55 have a limited understanding of how to make the most of their retirement savings, research from LV= has found
Posted: 15/12/2023
Over half (55%) of retirees believe that employers harbour an ageist approach to hiring older workers, Just Group has found
Posted: 14/12/2023
The Government has been urged to consider a new approach to the state pension, designed to provide a basis for financial security in retirement and ensure the state pension has a sustainable long-term future
Posted: 13/12/2023
A quarter (24%) of UK adults have said they are not aware of their pension age, including 10% of those aged between 55 and 64, Standard Life has found
Posted: 12/12/2023
Annuity rates have increased by a record amount with a rise of 54% in the last two years, Canada Life has found
Posted: 11/12/2023
Nearly a quarter (23%) of young adults aged 18-24 years old have never heard of pension auto-enrolment (AE), despite upcoming proposals to extend AE to 18 year-olds, research from Standard Life has revealed
Posted: 08/12/2023
The Superior Pension Fund has completed a £10m bulk annuity deal with Just Group, insuring the pension liabilities for 78 members
Posted: 07/12/2023
A quarter (25%) of over-50s incorrectly think the best rates of annuity are given to those with underlying health conditions, Standard Life has found
Posted: 06/12/2023
Almost a third of adults in the UK suspect that they may have a pension pot that they are either unaware of or have not considered before
Posted: 05/12/2023
Over one in three (36%) pension savers have said they are not confident they can afford retirement, Hargreaves Lansdown has found
Posted: 05/12/2023
Almost one-third (31%) of pension savers have stated that they want to consolidate their pension pots, Hargreaves Lansdown (HL) has found
Posted: 27/11/2023
Over three-quarters (76%) of pension savers expressed that they would consider opting for the new ‘pot for life’ model, with just 5% of savers stating that they would not be interested in having their own pension into which employers can pay contributions, PensionBee has found
Posted: 23/11/2023
The aggregate funding position of FTSE 350 companies’ defined benefit (DB) has undergone a “complete reversal” over the past 18 months, Mercer’s latest Pensions Risk Survey data has found
Posted: 22/11/2023
Average annuity rates continued to rise in the UK in Q3, the Standard Life annuity rate tracker has found
Posted: 21/11/2023
Over one million pensioner households in the UK primarily rely on the state pension as their main source of retirement, Just Group has found
Posted: 21/11/2023
Almost one in eight (13%) pension savers have said they don’t think it is “worth the hassle” to combine pensions, Moneyhub has found
Posted: 20/11/2023
Pension contributions saw a 33% year-on-year increase in Q3 2023, despite savers enduring levels of high inflation during this period, research from PensionBee has revealed
Posted: 17/11/2023
Nearly one fifth (18%) of people don’t believe that the state pension will exist when they retire, while a further 26% are unsure, research from Hargreaves Lansdown has revealed
Posted: 14/11/2023
Legal & General (L&G) Assurance Society has completed a £500m buy-in with the Deutsche Bank pension scheme, securing the benefits of around 2,000 retirees and deferred members
Posted: 13/11/2023
A large majority (67%) of financial advisers believe their clients will be forced to postpone retirement due to the cost of living crisis, according to research from BNY Mellon Investment Management
Posted: 10/11/2023
Employers should be reviewing their defined contribution (DC) pension provider every three years and be more open to switching pension schemes, Hymans Robertson has said
Posted: 09/11/2023
Two fifths (41%) of over-50s have said the cost of living crisis is the main barrier preventing them from securing the retirement income they think they’ll need, Standard Life has found
Posted: 08/11/2023
Just Group has completed a buy-in transaction for Air France’s (UK) pension scheme trustees, covering approximately £32m of pension liabilities and almost 200 scheme members
Posted: 06/11/2023
The Rotork Pension & Life Assurance Scheme has agreed an £80m buy-in deal with Aviva, covering the pension benefits for 406 current pensioners and dependants in the scheme
Posted: 03/11/2023
Almost half (49%) of retirees have said they did not check or seek help to see if they could afford to retire, leaving many in a "retirement blind spot", Just Group has said
Posted: 02/11/2023
Almost half (49%) of people approaching retirement are rethinking their plans as the cost-of-living crisis cuts into their everyday finances, LiveMore has found
Posted: 01/11/2023
Pausing pension contributions, even for a short period, could lead to missing out on thousands of pounds when the time comes to claim retirement pots, Standard Life has found
Posted: 01/11/2023
Six in 10 (59%) 45-54 year-olds are taking action to save more for retirement, Phoenix Group has found
Posted: 31/10/2023
Over four in 10 (43%) young people have hinted that they would use a lifetime ISA (LISA) for retirement planning, Hargreaves Lansdown (HL) has found
Posted: 30/10/2023
Almost a quarter (22%) of consumers are unaware of the option to consolidate their pensions, leading to an estimated £26.6bn left sitting in lost pots, Standard Life has found
Posted: 27/10/2023
Pension savers appear to largely be in the dark in regards to how responsibly their pension is invested, Broadstone has said
Posted: 27/10/2023
Less than three quarters (73%) of the total amount of pension credit that could have been claimed in the 2022 financial year was not done so, the Department for Work and Pensions (DWP) has found
Posted: 26/10/2023
HM Revenue and Customs (HMRC) repaid a total of £61.3m to people who overpaid tax when they flexibly accessed their pensions in Q3 2023, up from £33m in Q3 2022, the latest Government pension schemes newsletter has revealed
Posted: 26/10/2023
Half of defined benefit (DB) pension scheme trustees say they have a clear endgame strategy in place, Standard Life has found
Posted: 25/10/2023
Almost seven million people over 50 have no private pension, putting them at risk of retirement poverty, according to SunLife
Posted: 24/10/2023
The majority (93%) of defined benefit (DB) pension schemes have seen a reduction in their asset base over the past 12 months as a result of falling bond and liability-driven investment (LDI) prices, analysis from PwC has revealed
Posted: 23/10/203
One-off pension contributions of £1,000 every five years could boost retirement savings by up to £23,000 by the time the saver reaches retirement, Standard Life has found
Posted: 19/10/2023
Four in 10 (41%) people aged 50 and over have said they have needed more money than expected in retirement, a recent survey by Legal & General (L&G) has found
Posted: 18/10/2023
A third (32%) of Brits have put pension admin at the bottom of their to-do list, and are more likely to prioritise managing hair and beauty appointments and planning holidays, Standard Life has found
Posted: 17/10/2023
Financial advisers are doing a “stellar job” in helping people to prepare for the possibility of needing care in later life, a Just Group care report has said
Posted: 17/10/2023
Nearly half (48%) of self-employed people are not on track for even the minimum retirement living standard defined by the Pensions and Lifetime Savings Association (PLSA), research from Scottish Widows has revealed
Posted: 13/10/2023
Nearly six in 10 (59%) over 75s are yet to arrange a power of attorney, equivalent to 3.4 million people, Just Group has found
Posted: 12/10/2023
Standard Life has concluded a £335m bulk purchase annuity (BPA) transaction with the London Stock Exchange Group (LSEG) pension scheme
Posted: 11/10/2023
Over a quarter (26%) of retirees over the age of 55 have said they have been “forced out” of work, meaning they have had to take retirement earlier than expected, Just Group has found
Posted: 11/10/2023
The defined benefit (DB) pension transfer market is in a “slump” amid an exodus of specialist advisers and falling transfer values, LCP has stated
Posted: 09/10/2023
The aggregate funding surplus of FTSE 350 companies’ defined benefit (DB) pension schemes nearly doubled over the first three quarters of 2023, according to Mercer’s latest Pensions Risk Survey
Posted: 05/10/2023
A quarter (25%) of pension savers have said they have never checked their pension, Moneyhub has found
Posted: 05/10/2023
People who put a pay rise into their pension pot are set to see an increase in their annual retirement income, PensionBee has found
Posted: 04/10/2023
One in seven people in the UK have said they have never checked their pension, according to new research by Standard Life
Posted: 03/10/2023
The Andrew Sykes Group Pension Scheme has completed a £30m buy-in with Canada Life, insuring the benefits of around 440 members, including 160 deferred members
Posted: 02/10/2023
Schemes can help protect their members from pension scams by keeping up with best-in-class administration, Broadstone has said
Posted: 29/09/2023
The KGM Pension and Life Assurance Scheme has completed a £4m full-scheme buyout with Just Group, covering 14 deferred and 10 pensioner members
Posted: 28/09/2023
Parents could provide more than £300,000 in pension wealth for their children by the time they reach retirement age by contributing to their child’s pension from the age of 18, new research from PensionBee has found
Posted: 28/09/2023
The total value of taxable payments withdrawn flexibly from pensions since 2015 when the pension freedoms were introduced is £72.2bn, HM Revenue and Customs (HMRC) has revealed
Posted: 27/09/2023
Hargreaves Lansdown (HL) has called on the Government to allow people to open lifetime ISAs (LISAs) and receive bonuses on contributions until the age of 55
Posted: 22/09/2023
The Cable and Wireless Superannuation Fund has agreed a £340m buy-in with Legal & General (L&G), securing the benefits of approximately 1,800 retirees and deferred members
Posted: 21/09/2023
Pension savers can add nearly £100,000 to their pension pots through strong investment performance and low charges, Broadstone has found
Posted: 19/09/2023
Employees who are closer to retirement are less likely to know how much money they have saved up in their various pensions, according to a new survey from Cushon
Posted: 15/09/2023
Nearly three in five (58%) UK adults over 40 have said that they are anxious about the prospect of retiring, with one in five (20%) stating they are "very anxious"
Posted: 13/09/2023
The number of UK adults receiving unsolicited approaches about their pensions has fallen substantially in the past five years, dropping by six and a half million people
Posted: 11/09/2023
Over one in 10 (13%) UK adults, which equates to one and a half million people, have said that they are never planning to give up work, new research by Canada Life has found
Posted: 07/09/2023
The defined benefit (DB) pension market is currently at a "crossroads" as many schemes are now well-funded, Mercer has said
Posted: 06/09/2023
Someone living until they are 100-years-old could need an extra £240,000 in their pension pot to give them a comfortable retirement, analysis by interactive investor has shown
Posted: 05/09/2023
The Association of British Insurers (ABI) pension and assurance scheme has completed an £18.4m buyout with Just Group
Posted: 04/09/2023
More than three in five people (62%) have said that saving for the future and retirement is currently a high priority for them, a survey by Pension Geeks has found
Posted: 04/09/2023
The average funding position and proportion of defined benefit (DB) schemes in surplus hit their highest levels since the start of the current funding regime in 2005, although there is a wide variation between schemes, analysis from Aon has found
Posted: 1/9/2023
Just Group has completed a £290m buy-in deal with the ITB Pension Funds (Open Fund), meaning that all of the scheme members’ benefits have now been secured
Posted: 31/8/2023
Pension savers can add up to £52,000 to their retirement pot by completing their mortgage repayments as early as possible, Standard Life has found
Posted: 31/8/2023
Just half (50%) of people claiming the new state pension are receiving the full amount, Responsible Life has found
Posted: 29/08/2023
Many people who were ill-advised to transfer out of their defined benefit (DB) pension are now likely to receive significantly less compensation, analysis from OAC has found
Posted: 29/08/2023
A gap in trust and engagement in pensions has emerged, notably at its widest among younger savers, according to new research from Broadstone
Posted: 25/8/2023
Almost three quarters (73%) of people don’t know it is possible to contribute to someone else’s pension, Hargreaves Lansdown has found
Posted: 23/08/2023
Improvements in funding levels have accelerated the need for many defined benefit (DB) pension trustees to consider the illiquid assets in their schemes, Standard Life has found
Posted: 23/08/2023
Over four in five (84%) of people with a defined benefit (DB) pension scheme have said that they haven’t considered switching to a more flexible option, according to the Financial Conduct Authority’s (FCA) financial lives research
Posted: 22/08/2023
At least half of retirees could be losing out on hundreds of pounds worth of interest each year in savings accounts with rates of 3% or less, new research from PensionBee has found
Posted: 21/08/2023
A single pensioner would have to accumulate £50,000 in addition to their state pension for a minimum standard of living, Standard Life analysis has found
Posted: 16/08/2023
The number of pensions credit claims made to the Department for Work and Pensions (DWP) more than doubled in the most recent tax year
Posted: 11/08/2023
Rothesay has completed a £260m buy-in transaction with the Smith & Nephew UK Pension Fund
Posted: 08/08/2023
Retirees who buy annuities later in life are most at risk of missing out on extra lifetime income by failing to explore the market, Just Group has found
Posted: 07/08/2023
Over eight in 10 (86%) of defined benefit (DB) pension scheme trustees have said that they are expecting to approach an insurer in the next five years to discuss de-risking, new research by Standard Life has found
Posted: 07/08/2023
Over a third (37%) of savers contributing to at least one defined contribution (DC) pension are unaware of how much is being paid into their pot, personally and by their employer, Broadstone has found
Posted: 04/08/2023
The funding position of the FTSE 350 pension funds showed a slightly higher surplus at the end of July compared to June, according to Mercer’s latest Pensions Risk Survey
Posted: 03/08/2023
Hymans Robertson has announced that it has achieved B Corp certification and has joined the B Corp movement
Posted: 02/08/2023
People approaching retirement age are currently feeling the financial strain of the cost of living crisis the most, research by Aegon has found
Posted: 02/08/2023
Fewer than one in five (18%) retirement savers who accessed a defined contribution (DC) pension in the last four years had a telephone or face-to-face appointment with Pension Wise, the Financial Conduct Authority (FCA) has found
Posted: 02/08/2023
Just under seven in 10 (69%) of people who have transferred a defined benefit (DB) pension to a defined contribution (DC) pension in the past four years have said that they are satisfied with their choice, OAS has found
Posted: 31/07/2023
One in two (50%) pension savers who bought annuities in the four years up to mid-2022 did not compare deals from different providers, the Financial Conduct Authority (FCA) has found.
Posted: 31/07/2023
Pension saving levels in the UK have remained resilient despite rising costs placing pressure on household budgets, research from the Financial Conduct Authority (FCA) has revealed
Posted: 28/07/2023
Savers contributed over 20% more to their pensions in Q2 2023 compared to the same period last year, despite persistent levels of high inflation, analysis from PensionBee has revealed
Posted: 28/07/2023
Canada Life has completed its first-ever deferred member buy-in worth £58m with an undisclosed pension scheme
Posted: 27/07/2023
Standard Life, part of Phoenix Group, has concluded a £1.2bn bulk purchase annuity (BPA) transaction covering c. 20,200 members of the Mitchells & Butlers Pension Plan
Posted: 27/07/2023
The average yearly spending by retired households has increased to £23,675, a jump of 19% compared to 2021, research by iSIPP has found
Posted: 26/07/2023
Annuity rates have increased by 20% in the 12 months to June 2023, adding over £25,000 to lifetime income, Standard Life has found
Posted: 20/07/2023
The implementation of new Consumer Duty rules is set to increase consumer retail investment with single-investment personal pensions (SIPPs), iPensions Group has found
Posted: 11/07/2023
The Chancellor has announced the launch of his ‘Mansion House Reforms’, which could see pensions increase by over £1,000 a year in retirement for the average earner who saves over the course of their career
Posted: 11/07/2023
The defined contribution (DC) market must embrace innovative thinking if its members are to receive the income they’ll need in retirement, a report by Hymans Robertson has said
Posted: 10/07/2023
Errors in the national insurance (NI) system has led to some women losing out on over £4,000 in state pension each year, with some missing out on over £90,000 in state pension over 20 years
Posted: 7/72023
FTSE 350 pension schemes have seen a reduction in funds between May and June 2023, despite remaining in surplus, Mercer has found
Posted: 6/7/2023
Standard Life has concluded a £1bn bulk purchase annuity (BPA) transaction across two pension schemes, the Chubb Pension Plan and the Chubb Security Pension Fund, which are both sponsored by subsidiaries of APi Group Corporation
Posted: 5/7/2023
Consumers in the UK are more likely to increase their pension contributions rather than reduce them, due to improving savings rates as a result of continued rate rises by the Bank of England the latest findings from GlobalData have revealed
Posted: 5/7/2023
Nearly a fifth (18%) of over-55s do not intend to access their tax-free pension lump sum, so they can pass more wealth on to loved ones without paying incurring inheritance tax (IHT) charges, Standard Life has found.
Posted: 4/7/2023
Those who start saving between 40 and 66 are likely to be nearly £200,000 worse off compared to those who start saving consistently at 22, despite an increase in wages, Standard Life has found.
Posted: 29/06/2023
An estimated 19 million people aged over the age of 50 may be overlooking a pension option that could guarantee a regular retirement income, research by the Financial Services Compensation Scheme (FSCS) has found
Posted: 28/06/2023
Nationwide Pension Fund has completed a £1.7bn longevity risk transfer transaction with Zurich Assurance and Prudential Financial Inc (PFI), covering the longevity risk for around 7,000 in-pay members in the UK
Posted: 23/06/2023
Standard Life has concluded a £80m bulk purchase annuity (BPA) transaction with the MGM Assurance Staff Pension Plan.
Posted: 19/06/2023
The funding position of the FTSE 350 pension funds reached a record high in May, reaching £69bn by the end of the month, according to Mercer’s Pensions Risk Survey data analysis.
Posted: 14/06/2023
Scottish Widows has agreed a £400m full scheme buy-in with the Harrods Group Pension Plan, securing retirement benefits for around 1,900 pensioners and 2,100 deferred members
Posted: 13/06/2023
The best and worst rates of guaranteed income for life solutions have widened to nearly 18%, Just Group has found, the highest in over four years
Posted: 13/06/2023
Defined benefit (DB) schemes that held under-hedged positions, downside protection strategies and private market investments performed the best during 2022, according to a new report from Barnett Waddingham
Posted: 09/06/2023
Annuity rates have hit a six-month high, with an average 65-year-old in possession of a £100,000 pension pot able to receive up to £7,017 a year for a single life five-year guarantee deal, and a 70-year-old with the same amount able to get £7,838 per year in some cases
Posted: 07/06/2023
The aggregate surplus of UK defined benefit (DB) pension schemes rose to £110m over May, after a significant rise in long-term gilt yields of 0.5% led to a decrease in the value of liabilities, analysis from XPS Pensions Group has revealed
Posted: 06/06/2023
The trustee of the Aegon UK Staff Retirement and Death Benefit Scheme has completed a £160m partial buy-in with Scottish Widows, covering the interest rate, inflation and longevity risk relating to around 500 members
Posted: 05/06/2023
Annuity sales increased by 22% in Q1 2023 compared to Q4 2022, according to data from the Association of British Insurers (ABI)
Posted: 30/05/2023
Pension transfer activity fell by nearly 12% during April to an annualised rate of 34 members per 100,000 transferring out of their scheme to an alternative arrangement, according to XPS Pensions Group’s Transfer Activity Index
Posted: 26/05/2023
Just Group has completed a £100m full scheme buy-in with the Timpson Group Pension Scheme, securing the retirement benefits for 369 pensioners and 694 deferred members
Posted: 24/05/2023
There has been a “major reduction” in the availability of defined benefit (DB) transfer advice, analysis from Aegon and Next Wealth has found
Posted: 22/05/2023
Industry experts have suggested that a retirement planning shift is needed, after figures from the Office for National Statistics (ONS) revealed an increase in co-habiting and single person households
Posted: 19/05/2023
The British Steel Pension Scheme (BSPS) has agreed a £2.7bn buy-in with Legal & General, the fourth and final buy-in for the scheme, making it the largest scheme in the UK to have secured full insurance
Posted: 18/05/2023
The But Retirement Benefits Scheme has secured a £40m buy-in with Just Group, with the scheme now expected to proceed to full buyout and wind-up
Posted: 17/05/2023
The Department for Work and Pensions (DWP) has launched a call for evidence on the alternative quality requirement for defined benefit (DB) pension schemes that are used for automatic enrolment (AE)
Posted: 15/05/2023
Nearly two thirds (64%) of Brits do not feel confident about their retirement, while 36% don’t feel confident about planning for retirement, research from Penfold has revealed
Posted: 12/05/2023
The state pension underpayment rate was 0.6% in 2022/23, the highest underpayment rate on record, with £670m underpaid during the year, the Department for Work and Pensions (DWP) has revealed
Posted: 11/05/2023
The aggregate surplus of defined benefit (DB) pension schemes rose by £19.3bn in April, increasing from £359.3bn to £378.6bn, the latest Pension Protection Fund (PPF) 7800 Index has revealed
Posted: 09/05/2023
Aviva has secured a £900m buy-in with the trustees of the Thomas Cook Pension Plan, providing benefits at or in excess of Pension Protection Fund (PPF) levels for the scheme’s 12,500 members
Posted: 05/05/2023
Less than one in five (19%) people renting housing are on track for a moderate retirement, according to research by Hargreaves Lansdown
Posted: 03/05/2023
The Repsol Sinopec defined benefit (DB) pension scheme has completed a £160m full buy-in with Rothesay
Posted: 02/05/2023
The pension scheme sponsored by Batt Cables has completed a £34m buy-in with Just Group, covering 193 deferred members and 71 pensioners
Posted: 28/04/2023
HMRC repaid a total of £48.5m to people who overpaid tax when they flexibly accessed their pensions in Q1 2023, pushing the total repayments since the introduction of pension freedoms in 2015 past £1bn
Posted: 26/04/2023
The cost of living crisis has pushed over 50,000 people to leave the NHS Pension Scheme this tax year over affordability concerns, a freedom of information request from Quilter has revealed
Posted: 25/04/2023
Defined benefit (DB) pension transfer activity fell slightly during March, with an annualised rate of 38 members per 100,000 transferring out of the current scheme to an alternative arrangement, the XPS Transfer Activity Index has revealed
Posted: 24/04/2023
Total pension scheme buy-in and buyout volumes reached £15.8bn in the second half of 2022, after “unparalleled market volatility” resulted in an “extremely busy” second half the year, according to analysis from Hymans Robertson
Posted: 21/04/2023
The group trustees of the Carillion Group of the Electricity Supply Pension Scheme have completed a £15m buy-in with Just Group, securing benefits at a level above Pension Protection Fund (PPF) compensation
Posted: 20/04/2023
Over two thirds (69%) of independent financial advisers (IFAs) think that it would be risky for clients to plan around the lifetime allowance (LTA) removal being in place in the long-term, according to research from Standard Life
Posted: 19/04/2023
The Sleepeezee Retirement Benefits Plan 1975 has agreed a £18m buy-in with Legal & General (L&G), securing the benefits of around 200 retired and deferred members
Posted: 18/04/2023
Three quarters (75%) of UK adults don’t know how much is in their pension pot, rising to a “worrying” 79% among 55 to 64-year-olds, research from Standard Life has revealed
Posted: 17/04/2023
The vast majority (97%) of institutional investors, including wealth managers and pension funds, have already increased their allocations to alternatives in the past 12 months, according to research from Managing Partners Group (MPG)
Posted: 14/04/2023
Plans to abolish the lifetime allowance (LTA) have been branded a “£1bn bung”, after analysis by the Labour Party suggested that working people with average earnings would have to work for 400 years before they would benefit from the tax cut
Posted: 13/04/2023
Pensions industry organisations have warned that further reforms could still be needed to ensure individuals are saving adequately for retirement, after the state pension saw a record increase this week
Posted: 12/04/2023
Almost half (45%) of financial advisers experienced an increase in enquiries from clients following the raft of pension changes announced in the March Budget, Standard Life research has revealed
Posted: 11/04/2023
More than 500 doctors have unnecessarily paid £17.7m in lifetime allowance (LTA) charges, according to a freedom of information request from Quilter
Posted: 11/04/2023
The cost-of-living crisis could be exacerbating the pensions gender gap, research from TPT Retirement Solutions has suggested, revealing that nearly half (46%) of women in their 50s expect to work for longer to afford retirement given rising prices
Posted: 11/04/2023
One in seven (14%) high-net worth individuals, those with assets of £250,000 or more, have reduced their pension contributions within the past six months, whilst a further 14% plan to in the next six months, research from Saltus has revealed
Posted: 06/04/2023
The Consort Equipment Products pension scheme has completed a £4m full scheme buy-in with an unnamed insurer, covering 31 pensioners and six deferred members
Posted: 05/04/2023
The trustees of the Deutsche Bank Defined Benefit (DB) (UK) Pension Scheme have completed a £400m bulk purchase annuity buy-in with Aviva, securing the pension scheme benefits for nearly 1,300 members
Posted: 04/04/2023
The Department for Work and Pensions (DWP) has confirmed that the government will not bring forward the date the state pension age (SPA) will rise to 67
Posted: 30/03/2023
The trustee of the SA Brain and Company Limited Group Pension Scheme and the Crown Buckley Limited Pension Scheme has completed a £70m full scheme buy-in with Just Group, securing the benefits of around 420 pensioners and 200 deferred members
Posted: 29/03/2023
The Shoe Zone Group Pension Scheme has secured a £34m buy-in with Rothesay, covering the benefits of over 500 members, including 367 pensioners and dependents and 166 deferred members
Posted: 28/03/2023
HMRC has shared new guidance on the lifetime allowance (LTA) changes, following the news that the LTA will be fully abolished from the 2024 to 2025 tax year, also announcing plans for an LTA working group
Posted: 27/03/2023
The government has reportedly delayed plans to raise the state pension age (SPA) to 68 amid concerns over life expectancy in the UK and warnings from Tory MPs
Posted: 22/03/2023
Chapelthorpe Plc Pension Fund has completed a £34m buy-in with Aviva, securing the benefits of the remaining 805 uninsured members in the scheme
Posted: 21/03/2023
Around one in six (16%) people who stopped or reduced their pension contributions over the past year did so because of a change in their employment status, representing around 1.7 million of the UK’s total of 45 million-plus retirement savers, research from ISIPP has revealed
Posted: 17/03/2023
Labour has said it would reinstate the pensions lifetime allowance (LTA) if elected, arguing that the government’s plan to abolish the allowance is the “wrong priority, at the wrong time, for the wrong people”
Posted: 16/03/2023
The Chancellor has announced that he is abolishing the lifetime allowance on tax-free pension savings
Posted: 15/03/2023
The aggregate surplus of FTSE 350 companies’ defined benefit (DB) pension schemes increased from £33bn at the end of January to £47bn at the end of February 2023, analysis from Mercer has revealed
Posted: 14/03/2023
More than two fifths (44%) of 55-64 year-olds plan to move into ‘semi-retirement’ before they reach 65 to allow them to draw on their pension savings while continuing to work part-time, research from Aviva has revealed
Posted: 13/03/2023
The Financial Conduct Authority (FCA) has given regulatory approval for Schroders to launch the UK’s first Long-term Asset Fund (LTAF)
Posted: 09/03/2023
Full scheme transactions now “dominate” the defined benefit (DB) pensions bulk annuity landscape, constituting all £10bn worth of deals made so far this year, XPS Pension Group has revealed
Posted: 08/03/2023
The trustees of the Spirent Communications plc Staff Pension & Life Assurance scheme have completed a £142m buy-in, meaning that all defined benefit (DB) liabilities for the scheme have now been fully insured
Posted: 07/03/2023
Calls for the government to reform auto-enrolment have grown, after data from the Department for Work and Pensions (DWP) revealed that 38% of working age people, around 12.5 million savers, are under-saving for retirement
Posted: 06/03/2023
The money purchase annual allowance (MPAA) has created a pensions “tax trap” for millions of over-55s, according to new research from Canada Life
Posted: 03/03/2023
The pension scheme buy-in market is forecast to record a paradigm shift in 2023 amid a wave of new business volumes, new research by Hymans Robertson has indicated
Posted: 02/03/2023
More than £25bn of bulk annuity transactions were completed between pension schemes and insurers in 2022, according to Legal & General (L&G)
Posted: 28/02/2023
RSA Group has concluded the largest ever pension bulk annuity transaction with a £6.5bn buy-in for two of its pension schemes with Pension Insurance Corporation (PIC)
Posted: 27/02/2023
The Financial Conduct Authority (FCA) has formally required two firms to stop making unsolicited settlement offers to former members of the British Steel Pension Scheme (BSPS), after previously warning firms to withdraw any existing settlement offers
Posted: 24/02/2023
Demand for retirement advice has increased amid the cost of living crisis, with advisers estimating that over half (58%) of the assets they advise on are for clients receiving retirement advice, up from 55% in 2021, research from Aegon has revealed
Posted: 23/02/2023
The Wiltshire (Bristol) Limited Retirement Benefits Scheme, a legacy arrangement sponsored by Auto Trader, has agreed a £15m full scheme buy-in with Just Group, covering the pension liabilities of over 150 pensioner and deferred members
Posted: 21/02/2023
The number of small pot transfers, £10,000 or under, increased by 42% over the past two years, while the number of pension transfers under £1,000 rose by 32%, analysis from Origo has revealed
Posted: 20/02/2023
The pension scheme for an unnamed manufacturing business has agreed a £53m buyout with Standard Life, covering 235 pensioners and 163 deferred members
Posted: 16/02/2023
The aggregate surplus of defined benefit (DB) pension schemes has more than doubled over the past year, despite falling slightly to £374.4bn at the end of January 2023, according to the Pension Protection Fund’s (PPF) 7800 Index
Posted: 15/02/2023
The trustees of the Amey Services Section of the Citrus Pension Plan have agreed a £6.5m buy-in with Legal & General Assurance Society Limited
Posted: 14/02/2023
The trustee of the Arcadia Group and Arcadia Group Senior Executive Pension Schemes has agreed an £850m buy-in with Aviva, securing benefits in excess of Pension Protection Fund (PPF) levels for 8,800 members
Posted: 10/02/2023
Pension trustees have been encouraged to focus on long-term value over short-term cost, after analysis from Hymans Robertson suggested that up to £250bn of defined contribution (DC) assets could be committed to private equity investments by the end of the decade
Posted: 09/02/2023
Half (50%) of UK consumers think information around pensions and retirement is “overwhelming”, new research from Standard Life has revealed
Posted: 08/02/2023
Proposals for the government to “even out” pensions tax support have received mixed reaction from the pensions industry, as experts warned that the reforms could bring unintended consequences and potentially disincentivise savers
Posted: 07/02/2023
The government has faced further calls to introduce auto-enrolment reforms, after research from the Social Market Foundation (SMF) found that 25% of people from ethnic minorities have a workplace pension, compared to a national rate of 38%
Posted: 06/02/2023
The trustee of the IMI 2014 Deferred Fund has agreed a £175m partial buy-in with the Pension Insurance Corporation (PIC), covering liabilities for the remaining 1,378 uninsured scheme members, around 97% of which are deferred members
Posted: 03/02/2023
The Veitchi (Holdings) Limited Retirement Benefits Scheme has completed an £8m full buy-in with Just Group, securing the benefits of its remaining 82 uninsured members
Posted: 02/02/2023
The 1967 Section of the Morrisons Retirement Saver Plan has agreed a £762m buy-in with Rothesay, securing the pension benefits of more than 8,000 members
Posted: 01/02/2023
HMRC repaid a total of £45,026,065 in Q4 2022 to people who overpaid tax when they flexibly accessed their pensions, the latest government Pension Schemes Newsletter has revealed, pushing the total repayments for the year up to £134m
Posted: 31/01/2023
All automatic enrolment (AE) thresholds will be maintained at their 2022/23 levels for 2023/24, Pensions Minister, Laura Trott, has confirmed
Posted: 27/01/2023
New funding rules for defined benefit (DB) pension schemes could cost British industry up to £34bn, based on official estimates included in The Pensions Regulator’s (TPR) consultation documents, LCP analysis has suggested
Posted: 23/01/2023
The Amey OS Pension Scheme has completed a partial buy-in with PIC, insuring approximately £400m of pension liabilities
Posted: 16/01/2023
The Interserve Pension Scheme has completed a £400m buy-in with Aviva, securing the benefits of more than 7,000 of its members
Posted: 12/01/2023
Isio has signed an agreement to acquire the UK pensions advisory business of Deloitte, Deloitte Total Reward and Benefits Limited (DTRB), for an undisclosed amount, subject to approval from the Financial Conduct Authority (FCA)
Posted: 11/01/2023
Financial advisers have a “huge opportunity” to support people’s planning for later life care, given the current pressures on the NHS and social care systems, Just Group has stated
Posted: 11/01/2023
The accounting surplus of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies saw a marginal increase at the end of December, to £35bn
Posted: 10/01/2023
The Financial Services Compensation Scheme (FSCS) has welcomed the review of the compensation limits for pension claims, warning that “far too many customers” are losing more money from their pensions than the FSCS is able to return
Posted: 05/01/2023
One fifth of savers have reduced or stopped their pension contributions over the past 12 months, while a further 20% are considering doing so over the coming months, according to research from the Pensions Management Institute (PMI)
Posted: 03/01/2023
The Financial Conduct Authority (FCA) has announced that it is planning to review the Financial Services Compensation Scheme’s (FSCS) compensation limits for pension claims
Posted: 15/12/2022
The Bank of England (BoE) has recommended that The Pensions Regulator (TPR), in co-ordination with the Financial Conduct Authority (FCA) and overseas regulators, takes regulatory action to ensure liability-driven investment (LDI) funds remain resilient
Posted: 14/12/2022
Three directors have been disqualified from acting as directors of any company for their role in pension mis-selling, which took over £44m from would-be investors
Posted: 12/12/2022
The number of active members in private sector defined benefit (DB) and hybrid pension schemes has fallen 62.6 per cent in the past decade, with only 9 per cent of schemes still open to new members, according to new data from The Pensions Regulator (TPR)
Posted: 09/12/2022
The accounting surplus of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies saw a marginal increase to £31bn at the end of November, new data from Mercer has shown
Posted: 07/12/2022
Over a third (37%) of over-55s that are not retired think they will need to work beyond their state pension age, according to new research from Canada Life
Posted: 07/12/2022
SimplyBiz has appointed PX Pension Exchange to its defined benefit (DB) pension transfer referral bureau panel
Posted: 07/12/2022
The Coats UK Pension Scheme has completed a £350m bulk purchase annuity buy-in transaction with Aviva, securing the benefits of around 3,700 members
Posted: 06/12/2022
Over a quarter (28 per cent) of those aged 45-65 haven’t given any thought at all to their retirement plans, including 25 per cent of 56- to 65-year-olds, research from Just Group has revealed
Posted: 01/12/2022
Fundamental change may be needed to build a pension system that is fit for purpose, Link Group has said, after research revealed that nearly a third of (32 per cent) of UK adults don't feel like they're in control of their pension and retirement savings
Posted: 30/11/2022
A total of £209.3m of state pension underpayments have been identified so far by the government, new data published by the Department for Work and Pensions (DWP) has revealed
Posted: 29/11/2022
The Financial Conduct Authority (FCA) has confirmed plans to deliver a redress scheme for former members of the British Steel Pension Scheme (BSPS) who received unsuitable advice to transfer out, with over 1,000 customers expected to receive redress
Posted: 28/11/2022
Workplace pension scheme members could be losing out on around £1.7bn a year during their transition into and in retirement as a result of choosing costly pathways to access their money, research from HSBC Tomorrow Master Trust has revealed
Posted: 23/11/2022
Defined benefit (DB) pension scheme trustees have been urged to provide more support for savers, after research from Barnett Waddingham revealed that 13 per cent of DB members are more likely to transfer out of their pension due to the rising cost of living
Posted: 22/11/2022
The TT Group (1993) Pension Scheme has agreed a £400m buy-in with Legal & General Assurance Society Limited, securing the benefits of around 5,000 retirees and deferred members
Posted: 21/11/2022
The Pensions Dashboards Regulations 2022 have now been approved by MPs and peers, in what has been highlighted as a "major step" in formalising dashboard duties by the Pensions Dashboards Programme (PDP)
Posted: 18/11/2022
Two fifths (40 per cent) of over 55s who anticipated gradually moving into retirement in the next five years now worry that the rising cost of living could throw this into jeopardy, research from Legal & General (L&G) has revealed
Posted: 09/11/2022
The aggregate surplus of defined benefit (DB) pension schemes in the UK increased to £374.7bn at the end of October 2022, up from £374.5bn at the end of September 2022, the Pension Protection Fund’s (PPF) 7800 Index has revealed
Posted: 08/11/2022
HMRC has announced that it will not proceed with plans for a digital interim claims service for the relief at source system, after work on this proved “more complex than originally thought”
Posted: 04/11/2022
HMRC repaid a further £33,088,782 to people who overpaid tax when they flexibly accessed their pensions Q3 2022, meaning that HMRC has now repaid over £900m since Pension Freedoms were introduced in 2015
Posted: 03/11/2022
The Agfa UK Group Pension Plan has completed a £200m buy-in with Standard Life, securing the benefits of 770 scheme members
Posted: 02/11/2022
The Financial Conduct Authority (FCA) has published the final rules on pensions dashboards for pension providers
Posted: 01/11/2022
A quarter (25 per cent) of adults have stopped or are planning to stop contributing to their workplace pensions in order to keep up with the rising cost of living, according to research from Charles Stanley
Posted: 31/10/2022
The Cobham Pension Plan has completed a £530m buy-in with Standard Life, securing retirement benefits for around 3,000 members of the scheme
Posted: 28/10/2022
The total value of pension pots that have been “lost” has risen by £7.2bn over the last four years, new data published by the Pensions Policy Institute (PPI) has revealed
Posted: 27/10/2022
FTSE 350 companies’ defined benefit (DB) pension deficits could be “a thing of the past” with six months of dividend payments reallocated to pensions, according to analysis by Barnett Waddingham
Posted: 26/10/2022
Auto-enrolment progress has remained stable despite a turbulent year for both the labour market and households due to the impact of the Covid-19 pandemic, according to research from Nest Insight
Posted: 25/10/2022
Almost a quarter (23 per cent) of people have lost track of a pension, research conducted by Opinium on behalf of Hargreaves Lansdown has revealed
Posted: 24/10/2022
A £13m full scheme buy-in has been agreed between Legal & General (L&G) Assurance Society Limited and the Jarvis Limited Pension Plan
Posted: 20/10/2022
SimplyBiz has appointed Retirement Solution Services (RSS) to its defined benefit (DB) pension transfer referral bureau panel
Posted: 20/10/2022
Recent comments from the new Chancellor, Jeremy Hunt, have prompted uncertainty over the future of the state pension triple lock, with industry experts suggesting that there could be a “genuine tussle” between politics and ensuring the sustainability of public finances
Posted: 18/10/2022
The Pensions Regulator (TPR) has defended itself against accusations of having not taken "stronger action" to prevent the recent turmoil experienced by some defined benefit (DB) schemes that employ liability-driven investment (LDI) strategies
Posted: 13/10/2022
Three in 10 (30%) retirees in the UK are concerned they don’t have enough money to fund their retirement, research by Fidelity International has suggested
Posted: 11/10/2022
The total number of pension plans accessed for the first time in 2021/22 increased by 18%, figures published by the FCA have revealed
Posted: 06/10/2022
Sixteen point three per cent of older workers who rent are on track for a moderate retirement income, according to Hargreaves Lansdown’s Savings and Resilience Barometer, compared to 57.7% of those who own their own home
Posted: 05/10/2022
Average annuity rates have hit a 14-year high, having increased by 52% in the past nine months, according to new data from Canada Life
Posted: 05/10/2022
Almost half (46%) of UK workers aren’t confident that they’ll have enough saved for a comfortable retirement, despite auto-enrolment bringing improvements in participation rates, research from Barnett Waddingham has revealed
Posted: 04/10/2022
Only a minority (16%) of UK employees are confident that the amount they are currently saving is sufficient for retirement, while 40% of workers have little or no idea how much they need to save for retirement, according to research from Royal London
Posted: 03/10/2022
Calls for the government to review the pension lifetime allowance (LTA) have grown, after figures from HMRC revealed an 11% increase in LTA charges in 2020/21
Posted: 28/09/2022
A record £3.57bn was withdrawn ‘flexibly’ by pension savers in Q2 2022, new figures published by HMRC have shown
Posted: 28/09/2022
The Financial Conduct Authority (FCA) has been urged to engage with HM Treasury, amid concerns that those receiving redress under the British Steel Pension Scheme (BSPS) compensation scheme could face tax issues
Posted: 27/09/2022
HM Treasury is to review the pensions lifetime allowance, a report has suggested, amid concerns it may be forcing people to retire early
Posted: 26/09/2022
Annuity rates are continuing to soar – increasing by 35% this year alone – reaching a level not seen for more than a decade, figures published by Hargreaves Lansdown have shown
Posted: 22/09/2022
The government has been urged to consider key reforms to pension tax relief, followed by a period of stability, after the Association of Consulting Actuaries (ACA) raised concerns over the complexity of the restrictions surrounding the current regime
Posted: 20/09/2022
Over a quarter (26 per cent) of UK adults are not confident in choosing and managing their workplace pension, research from the Financial Services Compensation Scheme (FSCS) has revealed
Posted: 14/09/2022
Pension schemes should be wary of several risks when they attempt to engage in impact real estate investing, a report from Bfinance has stated
Posted: 12/09/2022
Just Group has completed a £484m full scheme buy-in with the Trustee of the Barloworld UK Pension Scheme
Posted: 07/09/2022
There is a generational divide when it comes to support for the pensions triple lock, new research from Canada Life has found
Posted: 06/09/2022
Defined benefit (DB) pension trustees should take steps to prepare for the consequences of high inflation, including reviewing investment strategies and member communications, Atkin Pensions has said
Posted: 05/09/2022
Newly identified state pension underpayment issues may not be fixed for "several years", LCP has warned, urging those impacted to take action themselves through a new campaign
Posted: 02/09/2022
Nearly a third (31 per cent) of people below state pension age expect it to be their main source of income when they retire, despite more than half of savers stating that this won't be enough for a comfortable retirement, research by Royal London has revealed
Posted: 30/08/2022
The vast majority (96 per cent) of pension scheme executives think that real estate can play a "crucial role" in helping defined benefit (DB) schemes with de-risking, according to research from Downing
Posted: 25/08/2022
The proportion of members transferring their pension increased to an annualised rate of 41 members per 100,000 in July 2022, a 41 per cent month-on-month rise, XPS Pension Group has revealed
Posted: 24/08/2022
The gender pensions gap narrowed by £40 per month in 2021 but there remains a “long way to go” to reach pensions equality, equity release lender more2life has stated
Posted: 23/08/2022
The number of people receiving less than £100 per week in state pension has dropped to 1.9 million as of February 2022, of which just under 1.5 million are women, according to new statistics released by the Department for Work and Pensions (DWP)
Posted: 22/08/2022
People who rent their homes and single parents are likely to struggle to save enough into their pensions for a moderate standard of living in retirement, according to Hargreaves Lansdown’s Savings and Resilience Barometer
Posted: 16/08/2022
The number of savers choosing to opt out of their workplace pension scheme increased by 29% between March and July this year, new research from Penfold has shown
Posted: 16/08/2022
More than one million people in the UK with a workplace pension are planning to reduce their contributions to cope with rising living costs, a new study from Barnett Waddingham has found
Posted: 15/08/2022
The majority (86 per cent) of UK pension schemes think an increasing focus on environmental, social and governance (ESG) considerations within property development could drive more institutional investment in this space, according to a survey from Downing
Posted: 11/08/2022
Approximately one in seven (13 per cent) UK adults that are looking at ways to increase their income amid the cost-of-living crisis expect to access their pension earlier than planned or have already done so, research from Canada Life has found
Posted: 10/08/2022
Smaller employers must do more to boost pension saving as 1.2 million eligible employees are missing out on money that companies and the government contribute, according to consultancy firm Broadstone
Posted: 09/08/2022
WH Smith Pension Trust has completed a £1bn full scheme buy-in with Standard Life, insuring the liabilities of 12,950 members
Posted: 08/08/2022
The accounting surplus of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies decreased by £9bn during July, according to the latest Pensions Risk Survey from Mercer
Posted: 03/08/2022
Applications for collective defined contribution (CDC) pension schemes officially opened today (1 August), in what has been highlighted as an “injection of innovation” for the industry, with plans to consult on new forms of CDC pensions confirmed for later this year
Posted: 01/08/2022
Around 85 per cent of workers, equal to 16 million people, are not saving at levels likely to deliver an acceptable standard of living in retirement, new research has found, prompting calls for the development of a 'Living Pension Standard'
Posted: 29/07/2022
Industry experts have urged the government to follow the Financial Conduct Authority's (FCA) lead on pre-retirement communications to ensure a consistent approach across trust- and contract-based pension schemes
Posted: 25/07/2022
SimplyBiz has announced the appointment of HUB Pension Consulting, part of Just Group, to its defined benefit (DB) pension transfer referral bureau panel
Posted: 22/07/2022
Fewer pension savers are taking advice when buying income drawdown and guaranteed income for life solutions, research by Just Group has suggested
Posted: 19/07/2022
The government has been urged to introduce an automatic enrolment (AE) system for the self-employed, and to work with the financial services industry to develop more flexible savings products to help people save for a rainy-day fund and their retirement
Posted: 18/07/2022
Homeowners releasing equity from property worth the average house price can boost the average pension pot by as much as 181%, according to new research
Posted: 15/07/2022
Pension credit claims more than doubled during the Department for Work and Pensions’ (DWP) recent Pension Credit Day of Action, with over 10,000 claims made during the week of 13 June, marking a 275 per cent year-on-year increase
Posted: 13/07/2022
Hargreaves Lansdown has called for the government to refrain from increasing minimum auto-enrolment (AE) pension contributions beyond the current 8 per cent and look at how to get people to boost their contributions voluntarily instead
Posted: 11/07/2022
More than one million people with a workplace pension are planning to reduce their contributions to cope with the rising cost-of-living, a new study has indicated
Posted: 08/07/2022
Over a quarter (28 per cent) of people have three or more pension pots, Hargreaves Lansdown has found
Posted: 06/07/2022
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies moved to a surplus over the course of June, new data published by Mercer has revealed
Posted: 05/07/2022
The aggregate defined benefit (DB) pension scheme surplus in the UK increased by £60bn to £250bn in June, according to the PwC Pension Trustee Funding Index, marking the highest surplus recorded since the launch of the index in 2015
Posted: 04/07/2022
A combined £2.5bn of pension contributions could be 'lost' as a result of the cost-of-living crisis, analysis from Scottish Widows has suggested, after finding that 11 per cent of UK adults have already cut back or stopped their pension contributions
Posted: 29/06/2022
HMRC has confirmed that its systems are not currently capable of allowing individuals with multiple earnings that cumulatively exceed the £10,000 earnings trigger for automatic enrolment (AE) to be enrolled into a pension scheme
Posted: 24/06/2022
Employee and employer contributions for private sector defined contribution (DC) schemes increased again in Q4 2021, alongside increases in the number of active members, figures from the Office for National Statistics (ONS) have revealed
Posted: 23/06/2022
The aggregate funding ratio of defined benefit (DB) pension schemes in the UK reached a record high of 118.9% at the end of May, up from 114% a month prior, according to the Pension Protection Fund (PPF) 7800 Index.
Posted: 15/06/2022
The average worker is on track to exceed the current lifetime allowance of £1,073,100 by the typical retirement age of 64-65 in the UK, according to new modelling from online pension provider PensionBee
Posted: 13/06/2022
Women would need to work an additional 18 years in full-time employment to save the same amount of money into their pension as men, a new report by Now: Pensions and the Pensions Policy Institute (PPI) has revealed
Posted: 08/06/2022
The accounting deficit of FTSE 350 companies’ defined benefit (DB) pension schemes fell by £41bn in May to £4bn at the end of the month, according to Mercer’s Pensions Risk Survey data
Posted: 07/06/2022
The FCA has announced that pensions providers must from today give consumers a “stronger nudge” to Pension Wise guidance when they decide to access their pension savings
Posted: 01/06/2022
The aggregate defined benefit (DB) pension scheme surplus in the UK increased by £60bn to £190bn in May, according to the PwC Pension Trustee Funding Index
Posted: 31/05/2022
The Financial Services Compensation Scheme (FSCS) has called for a review of the £85,000 limit it is able to pay out to people making pension claims, stating that it believes it should be higher
Posted: 27/05/2022
Nine in 10 people are struggling to make ends meet due to the cost-of-living crisis, new research commissioned by Cushon has revealed, increasing fears that many will be unable to adequately provide for themselves in retirement
Posted: 27/05/2022
A record 78 per cent of pension transfers showed at least one warning sign of potential scam activity in April, according to XPS Pensions Group’s Scam Flag Index tracker
Posted: 24/05/2022
Nearly two-fifths (39 per cent) of ‘amber flags’ raised by pension trustees of a transferring pension scheme were due to overseas investments, according to a Freedom of Information (FOI) request by Quilter
Posted: 17/05/2022
The health of defined benefit (DB) pension schemes in the UK continued to improve in the first quarter of 2022, reaching a new high as of 31 March 2022, data published by Legal & General Investment Management (LGIM) has revealed
Posted: 12/05/2022
The government has widened a ban on exclusivity causes for low-income workers to allow them to work multiple jobs and boost their income, although Interactive Investor (II) has raised concerns over low-paid workers' state pensions
Posted: 10/05/2022
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies fell by £24bn over the course of April, according to Mercer’s latest Pensions Risk Survey
Posted: 04/05/2022
The closed defined benefit pension scheme for Nationwide Building Society has completed a £172m bulk annuity transaction with Canada Life
Posted: 03/05/2022
The average time taken to complete a pension transfer has increased by 45% between 2018/19 and 2021/22, new analysis by PensionBee has found
Posted: 28/04/2022
Pausing pension contributions in April due to the ‘triple whammy’ of increasing inflation, a freeze in income tax thresholds and the rise in National Insurance could be dangerous for savers, Aegon has warned
Posted: 25/04/2022
Experts from across the pensions industry have warned that the cost-of-living crisis is likely to affect people’s abilities and willingness to adequately save for retirement, especially those not in scope of auto-enrolment (AE)
Posted: 21/04/2022
Over seven in 10 (72%) UK adults have never completed an expression of wish form, new research from Canada Life has indicated
Posted: 20/04/2022
Bfinance has become an official adopter of the Impact Investing Principles for Pensions from the Impact Investing Institute, it has announced
Posted: 19/04/2022
More than £250bn of defined contribution (DC) pension scheme assets could be potentially used for illiquid investment by 2030, with over £100bn specifically for infrastructure investment, analysis by Hymans Robertson has revealed
Posted: 06/04/2022
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies fell by £7bn over the course of March, to stand at £69bn at the end of the month
Posted: 04/04/2022
Two-thirds (66 per cent) of people retiring in 2022 do not plan to give up work completely, compared to 56 per cent of those retiring in 2021 and 34 per cent of 2020 retirees, according to Abrdn’s latest ‘Class Of’ report
Posted: 30/03/2022
Flexible pension withdrawals increased to £8.3bn for the period of April – December 2021, an increase of 19 per cent compared to the same period in 2020, HMRC has revealed
Posted: 23/03/2022
Just Group has confirmed that it completed a £58m buy-in transaction with the trustees of Keysight Technologies UK Limited Retirement Benefits Plan in December
Posted: 22/03/2022
A further £100bn could be removed from the long-term liabilities of UK defined benefit (DB) pension schemes if longer-term gilt yields were to increase in line with The Bank of England’s recent base rate change, analysis from XPS Pensions Group has found
Posted: 18/03/2022
The CSM Limited (UK) Pension Scheme has completed an £86m full scheme buy-in with Just Group
Posted: 16/03/2022
Nearly half a million over-50s have been forced into retirement earlier than they planned since the start of the pandemic in 2020, figures from the Office for National Statistics (ONS) have revealed
Posted: 14/03/2022
Protecting savers from scammers must be a central priority in the rollout of pensions dashboards, AJ Bell has argued
Posted: 10/03/2022
The Department for Work and Pensions’ (DWP) current proposals in its consultation could risk creating ‘dumb’ pensions dashboards of limited initial use to consumers, LCP has warned
Posted: 09/03/2022
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies fell by £4bn during February, to stand at £76bn at the end of the month
Posted: 02/03/2022
Around 850,000 UK pensioners could be missing out on a total £1.7bn of pension credit, analysis by Just Group has found
Posted: 24/02/2022
People approaching their retirements and planning to buy an annuity would ideally require an annual income of £22,500 on average, analysis from Canada Life has indicated
Posted: 23/02/2022
Three in 10 over-55s (30%) who have private pension savings are planning to release equity from their home as part of their retirement income funding, according to new research from Canada Life
Posted: 18/02/2022
Greater consolidation of smaller defined benefit (DB) pension schemes could lead to around £100m being retained for investment by UK businesses over the next 20 years, according to analysis by Stoneport, part of Punter Southall
Posted: 15/02/2022
The Department for Work and Pensions (DWP) has launched a call for evidence on what metrics should be considered when setting the state pension age, to support its ongoing review of the state pension
Posted: 10/02/2022
The government has confirmed it is freezing the minimum earnings level for automatic enrolment into a workplace pension scheme at £10,000 for 2022/23
Posted: 08/02/2022
The Bank of England’s decision to raise base rates from 0.25 per cent to 0.5 per cent could remove £100bn from the long-term liabilities of defined benefit (DB) pension schemes in the UK, according to XPS Pensions
Posted: 04/02/2022
Investment platform, AJ Bell, is urging the government to scrap the age restrictions and exit penalty for the Lifetime ISA (LISA)
Posted: 03/02/2022
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies saw an increase of £4bn over the course of January, new figures published by Mercer have revealed
Posted: 02/02/2022
UK pension savers currently stand to lose thousands of pounds if they do not move older pensions to pots that offer better value for money, research from the Institute for Fiscal Studies (IFS) has indicated
Posted: 01/02/2022
The Department for Work and Pensions (DWP) has launched a consultation on the draft regulations for the introduction of pensions dashboards
Posted: 31/01/2022
Occupational defined contribution (DC) trust-based pension scheme membership and assets continued to increase in 2021, The Pensions Regulator (TPR) has revealed, as the market consolidated further
Posted: 27/01/2022
The Work and Pensions Committee has proposed a series of reforms to improve government support for savers accessing their retirement pot
Posted: 18/01/2022
More than £42m was refunded in the fourth quarter of 2021 to savers who had been overtaxed on their pension freedoms withdrawals, new HMRC figures show
Posted: 17/01/2022
Adults in the UK have £1trn more wealth in pensions than they do in property, figures from the Office for National Statistics have suggested
Posted: 13/01/2022
The private member’s bill that is seeking to outline the roadmap for the extension of auto-enrolment (AE) policy to low earners and those aged 18 and over has had a date set for its second reading
Posted: 07/01/2022
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies finished 2021 at £76bn, according to the latest Pensions Risk Survey by Mercer
Posted: 05/01/2022
Expanding automatic enrolment to young and low earners could boost pension savings by £2.8trn, according to a new report
Posted: 05/01/2022
The government has confirmed that the Work and Pensions Committee is to examine saving for later life and what more needs to be done to help people plan for their retirement
Posted: 16/12/2021
The Department for Work and Pensions (DWP) has launched a new £510m fund to target fraudsters lying about their benefit claims
Posted: 13/12/2021
Over one million workers in the UK (6%) believe that they will never retire, according to a new study carried out by Canada Life
Posted: 06/12/2021
Over half (58%) of pre-retirement pension holders with two or more pots are keen to consolidate their pension accounts, according to research from Boring Money
Posted: 03/12/2021
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies climbed by £10bn over the course of November
Posted: 02/12/2021
New measures to protect pension savers from scam transfers have come into force today, the government has confirmed
Posted: 30/11/2021
Proposals made in the House of Lords to retain the state pension triple-lock have been rejected by the House of Commons
Posted: 16/11/2021
Around one third of people would rely on their partner’s pension in retirement, according to a survey from Hargreaves Lansdown
Posted: 15/11/2021
New measures to protect pension savers and help stop scam transfers have now become law, the government has announced
Posted: 08/11/2021
The House of Lords has voted 220 to 178 in favour of retaining the state pension triple-lock next year
Posted: 03/11/2021
The accounting deficit of defined benefit (DB) pension schemes and other post-retirement benefit plans for the UK’s 350 largest listed companies climbed by £6bn over the course of October
Posted: 02/11/2021
A significant proportion of young people are prepared to turn away from traditional pensions to invest in cryptocurrency, stocks and shares ISAs or other investments instead, a new study has found
Posted: 01/11/2021
HMRC repaid £44,659,174 in overpaid tax on flexible pension withdrawals in Q3 2021, with an average reclaim of £3,352, the government’s latest Pension Schemes Newsletter has revealed
Posted: 29/10/2021
The government has announced plans to introduce a top-up system for low earners in net-pay arrangements from 2024-25 in an effort to “broadly equalise outcomes for all lower earning pension savers”
Posted: 28/10/2021
The government has confirmed that it will consult on further changes to the regulatory charge cap for pension schemes in an effort to unlock institutional investment to drive innovation
Posted: 27/10/2021
The UK state pension is set to increase by 3.1% in 2022/23, in line with September’s Consumer Prices Index (CPI) inflation figure published today by the Office for National Statistics (ONS)
Posted: 20/10/2021
More than a quarter of adults (26%) have at least one pension pot of less than £5,000, while 15% do not know if they have one or not, a new Aegon study has found
Posted: 12/10/2021
The majority of large UK pension schemes have failed to act on climate ahead of COP26, according to research from Make My Money Matter, with 71 of 100 major schemes yet to make robust net zero commitments
Posted: 11/10/2021
The cost of pensions tax relief increased by £4.4bn to £41.3bn between 2017/18 and 2019/20, figures from HMRC have revealed
Posted: 01/10/2021
Almost one in six people (16%) say the pandemic has convinced them to retire earlier voluntarily, a study from Key has found, with 8% saying they have been forced to stop work earlier than they intended
Posted: 27/09/2021
Around 1.5 million widows in the UK aged 55 and over say they have lost out on pension income in later life following the death of their partner, new research has revealed
Posted: 23/09/2021
Around 134,000 pensioners have been underpaid more than £1bn in state pensions, a new report from the National Audit Office (NAO) has found
Posted: 22/09/2021
HMRC has confirmed it cannot tell how many individuals have paid pension contributions above the money purchase annual allowance (MPAA), and as a result had to pay an additional tax charge, according to a Freedom of Information (FOI) request from Aegon
Posted: 21/09/2021
More than one in three people aged between 50 and the state pension age of 66 would consider taking their pension early at a lower rate if the option was offered, new research from AJ Bell has found
Posted: 14/09/2021
The government has confirmed it is scrapping the earnings element of the pensions triple lock
Posted: 07/09/2021
The Treasury Committee has called on Rishi Sunak to temporarily suspend the earnings element of the pensions triple lock
Posted: 06/09/2021
Pension Wise may face capacity challenges to cope with a surge of new “stronger nudges”, Aegon has stated
Posted: 03/09/2021
The accounting deficit of defined benefit (DB) pension schemes across the UK’s 350 largest listed companies increased by £2bn during August, according to Mercer’s latest Pensions Risk Survey data
Posted: 02/09/2021
The number of people saving into a workplace pension scheme has remained stable through the pandemic, new government figures have revealed
Posted: 02/09/2021
A move to allow individuals to take their state pension earlier than the age of 66 would have to be subject to a reduction in its weekly amount to make it “financially fair”, Aegon has stated
Posted: 01/09/2021
The money purchase annual allowance (MPAA) is posing a hidden risk to over-55s who have accessed their pension early because of the coronavirus pandemic, Aegon has warned
Posted: 24/08/2021
Only 14% of retirees over the age of 55 took regulated advice or guidance before taking retirement, according to new research from Just Group
Posted: 19/08/2021
If the State Pension were to increase by 8% it would still leave a £730-a-year income gap compared to the Joseph Rowntree Foundation’s Minimum Income Standard, according to new analysis from Just Group
Posted: 17/08/2021
Forty-six per cent of UK adults believe the state pension triple lock should stay as it is, new research from Canada Life has revealed
Posted: 16/08/2021
The gender pensions gap could be as much as £183,936, according to research published by equity release lender, more2life, and economics consultancy, Cebr
Posted: 10/08/2021
UK defined benefit (DB) pension scheme funding levels failed to improve over the past quarter for the time since the onset of the pandemic, although they still remain “far stronger" than pre-Covid levels, according to Legal & General Investment Management (LGIM)
Posted: 09/08/2021
Boris Johnson and Rishi Sunak have written an open letter calling on UK pension schemes to spur a UK “investment big bang”
Posted: 05/08/2021
Chancellor Rishi Sunak is again reportedly considering modifying the triple lock to address concerns that a rise in earnings figures could drive a sharp increase in the state pension
Posted: 02/08/2021
Over 3.6 million UK adults are unaware how many pensions they have and risk paying more in fees than necessary, according to new research by Scottish Widows
Posted: 29/07/2021
Almost one in three (31%) UK homeowners over the age of 40 who are not yet retired are intending to work beyond their state pension age, according to new research from Canada Life
Posted: 21/07/2021
Draft legislation has been issued by HMRC around the increase in the minimum pension age from 55 to 57
Posted: 20/07/2021
An increase in earnings growth across the UK could “pile pressure” on Chancellor Rishi Sunak when considering the costs of maintaining the government’s Manifesto commitment to the state pension triple lock, Aegon has warned
Posted: 15/07/2021
Sixty-eight per cent of adults in the UK are unaware of the government’s planned change to the age that people can access their state pension, new research from Aegon has revealed
Posted: 14/07/2021
Defined benefit (DB) pension scheme members could have an income 76% higher than an equivalent defined contribution (DC) saver without breaching the lifetime allowance, according to new analysis from AJ Bell
Posted: 13/07/2021
Only a quarter of homeowners over 40 say they will retire at their state pension age due to changes to state pension legislation, according to new research from Canada Life
Posted: 07/07/2021
Workers earning between £10,000 and £20,000 a year who lost income during the pandemic have missed out on a collective £122m in pension savings from their employers, according to research from Scottish Widows
Posted: 07/07/2021
More than £2m has been reportedly lost to pension scammers since the start of 2021, new FCA research has revealed
Posted: 07/07/2021
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies fell by £9bn over the course of June, according to Mercer’s latest Pensions Risk Survey
Posted: 02/07/2021
The number of advised clients who are gradually phasing into retirement has halved as a result of the coronavirus pandemic, according to findings from Aegon
Posted: 01/07/2021
The total value of pension contributions that were reported by savers as exceeding the annual allowance (AA) fell from £912m in 2017/18 to £817m in 2018/19, HMRC has revealed
Posted: 30/06/2021
Around one in 10 adults reduced their pension contributions amid the pandemic, whilst 6% stopped them altogether, according to industry research
Posted: 28/06/2021
Data from the Financial Conduct Authority (FCA) has shown that defined benefit (DB) pension members using advice firms that used a contingent charging structure were more like to transfer than those using firms not using contingent charging
Posted: 28/06/2021
Over two-thirds (68%) of private sector defined benefit and hybrid (DBH) employer pension contributions in Q4 2020 were deficit reduction contributions (DRCs), according to figures from the Office for National Statistics (ONS)
Posted: 25/06/2021
The Treasury is planning a pensions tax raid in the autumn to help cover the cost of government spending during the COVID-19 pandemic, according to reports
Posted: 21/06/2021
A quarter (25%) of over-65s are unaware that they could receive a higher weekly payment or a lump sum by deferring the date they started to receive the State Pension, according to research by Just Group
Posted: 15/06/2021
Eighty-seven per cent of defined contribution (DC) pension members do not understand the importance of having their pension scheme aligned to a net-zero goal, new research has revealed
Posted: 14/06/2021
Fundamental aspects of pensions remain a mystery to many people, according to new research from Royal London, after 27% of people admitted they have never heard of tax relief
Posted: 26/05/2021
Delays on policy decisions have cost lower earners nearly £150m in pension funds, according to new calculations from Quilter
Posted: 17/05/2021
A quarter (25%) of people between the ages of 55 and 64 are still not aware of pension freedoms, despite the reforms being introduced more than six years ago, new research from Fidelity International has revealed
Posted: 11/05/2021
The Institute for Fiscal Studies (IFS) has encouraged savers to substantially increase the proportion of earnings they set aside for retirement through their working life
Posted: 10/05/2021
Workers on the lowest salaries with more than one job are losing out on £76m a year in employer pension contributions due to an “unfair” system, according to a new study from Scottish Widows
Posted: 05/05/2021
The FTSE 350 pension scheme deficits fell in April as the UK started to emerge from its national lockdown, the latest Pensions Risk Survey from Mercer has revealed
Posted: 05/05/2021
The number of people with multiple pension pots has climbed by 11% in the last five years, new research from Aegon has revealed
Posted: 04/05/2021
The first three months of 2021 have seen £2.6bn withdrawn from pensions flexibly, according to new HMRC data
Posted: 30/04/2021
Forty-four per cent of working aged women with a workplace or a private pension have taken action regarding their pension in light of hearing about the gender pensions gap, according to new research published by Barnett Waddingham
Posted: 29/04/2021
More than one in 10 (14%) working over-55s have flexibly accessed their pension over the last year, according to a Canada Life survey
Posted: 28/04/2021
Women in some areas of the country are retiring with a pension pot that is almost half (49.6%) the size of men’s pension savings, research from Profile Pensions has revealed, with “significant differences” across the UK
Posted: 27/04/2021
The incomes of newly retired workers are expected to fall at a much more dramatic rate over the coming decades than previously anticipated, with research from LCP warning of a potential "ski slope of doom" and prompting calls for "urgent action" in light of this
Posted: 27/04/2021
Industry experts have urged the government to take a simpler approach to its proposed plans to increase the normal minimum pension age (NMPA), with a number of alternative implementation approaches suggested
Posted: 23/04/2021
Action Fraud has warned savers to remain vigilant and protect their pensions, as figures from the national reporting centre for fraud and cyber crime revealed £1.8m has already been lost to pension fraud this year
Posted: 22/04/2021
A freeze in the money purchase annual allowance (MPAA) along with changing tax thresholds is set to “squeeze” many more basic rate taxpayers, according to Just Group
Posted: 12/04/2021
Employee contributions to private sector defined contribution (DC) pension schemes jumped by 12% to £1.8bn in the three months to September 2020, new data published by the Office for National Statistics (ONS) has revealed
Posted: 29/03/2021
A long-term drop in reporting of pension scams needs to prompt the pensions industry into raising more suspected cases of fraud, according to The Pensions Regulator (TPR)
Posted: 25/03/2021
Nearly one in five (19%) employees aged between 65 and 74 have delayed their retirement as a result of the pandemic, according to a new report from Close Brothers
Posted: 24/03/2021
Scrapping higher-rate pension tax relief would risk landing employees who earn over £50,000 with “eye-watering tax bills”, according to AJ Bell
Posted: 22/03/2021
SimplyBiz has announced the appointment of Pension Works to the panel of its Pension Transfer Bureau
Posted: 18/03/2021
The Chancellor is expected to announce a freeze in the lifetime allowance at £1,073,100 for the rest of this Parliament, according to reports
Posted: 26/02/2021
The number of people receiving a State Pension fell by 1.6% in the year to August 2020, new figures published by the Department for Work and Pensions (DWP) have revealed
Posted: 23/02/2021
Up to three million public sector workers affected by a Court of Appeal ruling which found that reforms to their pensions introduced in 2015 were discriminatory will now be able to choose between the old scheme and the reformed scheme, the Treasury has confirmed
Posted: 04/02/2021
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies reached £66bn at the end of January, new data from Mercer has revealed
Posted: 01/02/2021
UK savers withdrew £9.4bn flexibly from their retirement pots during 2020, new HMRC data has revealed
Posted: 29/01/2021
A person saving for a comfortable retirement could save over £140,000 by consolidating multiple pension pots into just one, new analysis from Quilter has found
Posted: 19/01/2021
Cushon has announced it is launching the world’s first “net zero” pension fund
Posted: 18/01/2021
Employee pension contributions towards workplace defined contribution (DC) schemes fell by 11% between the first and second quarters of 2020, as the impact of coronavirus struck the UK
Posted: 13/01/2021
Up to £800m in pensions and investments assets could be unlocked following a major expansion of the UK’s ‘Dormant Assets Scheme’, the government has confirmed
Posted: 11/01/2021
One in eight people do not know how many old workplace pension pots they have, according to a poll carried out by interactive investor
Posted: 06/01/2021
The Work and Pensions Select Committee’s industry cooperation to tackle pension fraud has been welcomed by Canada Life
Posted: 06/01/2021
Divorce was the second biggest cause of a derailment to retirement plans after personal illness last year, according to research by interactive investor
Posted: 04/01/2021
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies finished 2020 at £70bn, data from Mercer has confirmed
Posted: 04/01/2021
The government has launched a consultation on the options to increase the general levy on occupational and personal pension schemes, including plans to restructure the levy
Posted: 16/12/2020
LV= has agreed to a £530m acquisition of its savings & retirement and protection businesses with Bain Capital Credit
Posted: 15/12/2020
Prospective retirees over 50 are facing a “ticking time bomb” in retirement, with 66% having made either no firm plans or no plans at all for their retirement finances, according to industry research
Posted: 14/12/2020
One in eight UK adults (13%) over the age of 55 who expect to retire in the future are planning to delay their retirement due to the coronavirus pandemic, according to a study by Smart
Posted: 02/12/2020
SimplyBiz Group has announced the addition of P&B Wealth to its defined benefit (DB) pension transfer referral panel
Posted: 01/12/2020
The proportion of homeowners over the age of 55 who are worried about running out of money in retirement has jumped to 34%, up from 27% a year ago
Posted: 25/11/2020
A total of £2.3bn was withdrawn flexibly from pensions by 347,000 people during the third quarter of the year, new HMRC statistics have revealed
Posted: 30/10/2020
Equity release adviser, Key, has highlighted the role of property wealth in bridging the pension gender gap, following research from Nest that revealed women could end up more than £70,000 worse off than men in retirement
Posted: 28/10/2020
Investment platform, AJ Bell, has warned that millions of people could be sleepwalking into “retirement misery”
Posted: 16/10/2020
Pensions Minister, Guy Opperman's, suggestion that he is exploring ways for pensions to be used for house deposits has been described as “disappointing” by The People’s Pension (TPP)
Posted: 12/10/2020
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies rose slightly to £73bn at the end of September, new data from Mercer has revealed
Posted: 02/10/2020
Only 6.6% of pension fraud reports submitted to Action Fraud in 2019 passed the review process and were given to the police to investigate, according to new research from Quilter
Posted: 14/09/2020
Funding retirement is the biggest money worry for employees in the UK, according to a new report from Close Brothers
Posted: 14/09/2020
There were 13 overseas transfer charges paid to HMRC in 2019/20 from pension transfers to Qualifying Recognised Overseas Pension Schemes (QROPS), a 46% fall compared to 2018/19, a freedom of information request from Canada Life has revealed
Posted: 11/09/2020
One in 10 workers have paused their pension contributions since the start of lockdown, with a further 13% considering pausing contributions, according to research by Canada Life
Posted: 10/09/2020
The government has confirmed that the age at which individuals can access their private pension will increase from 55 to 57 in 2028
Posted: 04/09/2020
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies fell from £103bn at the end of July, to £82bn on 28 August, according to Mercer’s latest Pensions Risk Survey
Posted: 02/09/2020
A total of £30,857,329 has been reportedly lost to pension scammers since 2017 according to complaints filed with Action Fraud, data from the FCA and The Pensions Regulator has revealed
Posted: 26/08/2020
More than four million people within a decade of pension access are oblivious to free government-backed guidance, according to new research published by Just Group
Posted: 25/08/2020
Two in five people aged between 18 and 34 have either reduced (28%) or stopped (12%) their pension contributions as result of the COVID-19 pandemic, according to new research from Royal London
Posted: 12/08/2020
Pension schemes could offer a solution to UK businesses struggling with cash flow difficulties resulting from the coronavirus pandemic, according to research from Old Mill
Posted: 10/08/2020
FTSE350 companies with defined benefit (DB) pension schemes have been hit “especially hard” by the economic crisis resulting from COVID-19, according to research from Barnett Waddingham
Posted: 10/08/2020
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies increased to £103bn on 31 July, up from £90bn at the end of June, according to new data from Mercer’s Pensions Risk Survey
Posted: 03/08/2020
A total £2.3bn was withdrawn flexibly from pensions between April and June as COVID-19 took its grip on the UK, according to new data published by HMRC
Posted: 31/07/2020
The Work and Pensions Committee is to investigate pensions scams in the first strand of a three-part inquiry into the impact of the pension freedoms and the protection of pension savers
Posted: 28/07/2020
Yesterday’s Call for Evidence on pension tax relief administration from the Treasury reiterates the Government’s position on pension tax relief and “appears to pour cold water” on recent calls for fundamental reform, according to AJ Bell
Posted: 22/07/2020
The Treasury has unveiled plans to revisit radical public sector pension reforms made in 2015, after the Court of Appeal ruled that transitional protections provided to those within 10 years of retirement were discriminatory
Posted: 16/07/2020
Men accumulate £135,000 more than women for their pension by the time they are ready to access it, a new report from Fintuity has said
Posted: 13/07/2020
Almost £10bn was transferred out of defined benefit (DB) pensions in the final quarter of 2019, up from just over £5bn in the previous quarter, according to new data released by the Office for National Statistics (ONS)
Posted: 29/06/2020
A flat rate of tax relief on Defined Contribution (DC) pension contributions would increase the proportion of DC pension tax relief associated with basic rate taxpayers from 26% to 42%, according to a new report
Posted: 23/06/2020
The number of new people reaching pension freedoms age will reach a peak in 2020, new analysis by Aegon has revealed
Posted: 08/06/2020
The FCA has announced a ban on contingent charging as part of a package of measures to address “weaknesses” across the defined benefit (DB) transfer market
Posted: 05/06/2020
More than three million people have reduced or completely stopped their pension payments as a result of the COVID-19 pandemic, new research has revealed
Posted: 01/06/2020
Twenty-nine per cent of Brits are now fearing an economic crash could hamper their retirement plans, according to a new survey from Sanlam
Posted: 18/05/2020
Forty-seven per cent of adults in the UK aged between 55 and 64 didn’t know that deferring the State Pension would deliver a higher weekly guaranteed, inflation-linked pension when starting to claim their pension benefits, according to new research from Just Group
Posted: 11/05/2020
More than a third (35%) of women and a fifth (20%) of men over the age of 50 do not have a private pension, according to new research from SunLife
Posted: 05/05/2020
The 2019/20 tax year was a record year for the amount of emergency tax applied to pension withdrawals, with HMRC revealing it repaid £166,619,969 to people it had initially deducted too much tax from
Posted: 30/04/2020
There was £2.5bn withdrawn from pensions flexibly in the first quarter of the year, a 19% increase from £2.1bn in the opening quarter of 2019, new HMRC data has revealed
Posted: 30/04/2020
Furloughed employees during the coronavirus will continue to benefit from employer pension contributions of up to £75 a month
Posted: 02/04/2020
A government change to the way the Retail Prices Index (RPI) is calculated is set to result in a fall of up to 21% the value of payments made to members of pension schemes and annuity holders, according to new research published by the Pensions Policy Institute (PPI)
Posted: 01/04/2020
The Government has confirmed that grants to pay the wages of workers who are “furloughed” during the coronavirus pandemic will also cover employer auto-enrolment pension contributions
Posted: 27/03/2020
The FCA has revealed that changes to rules around Defined Benefit (DB) pension transfers have been delayed by up to six months
Posted: 26/03/2020
Former pensions minister, Steve Webb, has urged the Treasury to relax rules which could act as a barrier to people seeking to rebuild their pensions when the coronavirus crisis is over
Posted: 23/03/2020
AJ Bell has urged pension savers to “be on their guard” against a potential surge in scam activity during the period of economic uncertainty caused by the coronavirus pandemic
Posted: 20/03/2020
There is no “one-size fits all approach” to helping people achieve a higher standard of living, according to a new report published by the Pensions Policy Institute (PPI), which has identified several ways that homeowners and renters can be supported to achieve “greater adequacy” in terms of their retirement income
Posted: 18/03/2020
Around half of homeowners over the age of 65 have never checked whether they are entitled to State Benefits in addition to their State Pension, new research from HUB Financial Solutions has revealed
Posted: 16/03/2020
More than half the UK’s workers aged between 50 and 65 years who are expecting to retire don’t know how much annual income they’ll receive from their pension and savings, according to new research from Standard Life
Posted: 09/03/2020
There are 1.6 million people in the UK aged between 55 and 64 facing retirement without any pension savings, research from Just Group has revealed
Posted: 04/03/2020
One-third of the adults in the UK to have been forced into an early retirement have indicated they would like to be back in work, according to a new study by Just Group
Posted: 25/02/2020
Almost one in three people in their 60s have left their pension pots untouched, according to new research published by LV=
Posted: 25/02/2020
Plans to remove higher rate tax relief from pension contributions could kill off remaining defined benefit schemes in the private sector and raise major issues for those in the public sector, Aegon pensions director Steven Cameron has said
Posted: 19/02/2020
Auto-enrolment has helped more than 10 million employees save in a workplace pension, although an 8% contribution is unlikely to provide the level of income in retirement that most people aspire to, according to new analysis by Aegon
Posted: 18/02/2020
There were an estimated 974,000 people in employment on a ‘zero-hour contract’ in their main job between October and December 2019, representing a record 3% of all people in employment, new data published by the Office for National Statistics (ONS) revealed
Posted: 18/02/2020
Thirty-nine per cent of UK financial advisers view a new deal on social care funding as their number one priority for the next Budget, according to new research from Aegon
Posted: 17/02/2020
Amidst growing speculation that the Government could cut the tax relief on pension contributions for higher earners, Aegon has warned that rushing to cut pensions tax relief could do long-term damage to UK retirement savings
Posted: 10/02/2020
UK adults are paying three times more on average than they should for their pension which could cost savers £18,000 over 20 years and push retirements back by two years, new research from Profile Pensions has revealed
Posted: 10/02/2020
The Pensions Regulator (TPR) announced it is carrying out compliance spot checks on some of the UK’s largest employers to ensure thousands of staff continue to receive the pensions they are due
Posted: 05/02/2020
Hargreaves Lansdown has called on the Government to announce a review on pension taxation in the forthcoming Budget on 11 March
Posted: 05/02/2020
Almost 40% of employers have indicated the issue of pensions tax relief for their higher earners is now a challenge, according to new research from Smarterly
Posted: 05/02/2020
UK workers are failing to adequately prepare for a comfortable standard of living in retirement, according to new research by Portafina
Posted: 04/02/2020
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies increased from £40bn at the end of December 2019 to £57bn on 31 January, new data from Mercer revealed
Posted: 03/02/2020
There was £2.2bn withdrawn from pensions flexibly in the final quarter of 2019, an 18% increase from £1.9bn withdrawn during the same quarter a year earlier, new statistics published by HMRC revealed
Posted: 30/01/2020
The FCA is concerned that 76% of firms with defined benefit (DB) transfer advice permission in the market are providing potentially harmful advice to pension scheme members, according to a Freedom of Information (FOI) request submitted by Buck
Posted: 27/01/2020
The Government’s delay in lowering the age limit for automatic enrolment from 22 to 18 will cost the typical school leaver around £18,000 on their pension pot, new research by Royal London revealed
Posted: 20/01/2020
Almost two-thirds of people who retired earlier than expected were forced out of work rather than choosing to leave because they no longer needed the income, according to a new study by Just Group
Posted: 20/01/2020
Over £30bn has been flexibly withdrawn from retirement pots since the pension freedoms launched in April 2015, and in the same time homeowners have used property wealth to deliver £13bn in extra income via equity release, according to new analysis from AJ Bell
Posted: 16/01/2020
Only 55% of pension savers entering drawdown since 2014 have taken income, with 45% simply taking their tax-free cash, new research from Hargreaves Lansdown revealed
Posted: 13/01/2020
Two-thirds of pensioner homeowners are failing to claim their full benefits entitlement, according to new research from Just Group
Posted: 13/01/2020
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies increased from £38bn at the end of November to £40bn on 31 December 2019, according to new data from Mercer’s Pensions Risk Survey
Posted: 07/01/2020
Eighty-seven per cent of employers are looking to review their pension provider in the next 12 months, according to new research conducted by Smarterly.
Posted: 07/01/2020
A leading investment platform has suggested there is a ‘whiff of radicalism’ about Boris Johnson’s new Government, and that his Chief Adviser, Dominic Cummings, is recruiting ‘assorted weirdos’ to drive reform
Posted: 07/01/2020
Approximately 11,000 people in the UK are set to face a cut to their state pension in April 2020, according to a response made to a Freedom of Information request by Royal London
Posted: 06/01/2020
Seventy-three per cent of employers believe that workplace savings should no longer just be focused around pensions, according to new research from Smarterly
Posted: 16/12/2019
The board of Phoenix Group Holdings has announced the proposed acquisition of ReAssure Group for £3.2bn
Posted: 06/12/2019
The UK’s total private pension wealth was £6.1trn between April 2016 and March 2018, 42% of total wealth, new figures published by the ONS revealed
Posted: 05/12/2019
Pension plan trustees are continuing to face a dilemma over how engaged they should be in ensuring members get the right advice about whether to transfer, according to a new report jointly published by Royal London and Eversheds Sutherland
Posted: 04/12/2019
Only 42% of UK adults would admit to currently having life insurance, although this was a figure 9% higher than in 2018, according to the latest research from MoneySuperMarket
Posted: 02/12/2019
HMRC has issued a warning that higher earners are failing to report pensions growth on their tax returns, meaning taxpayers could face huge bills for undeclared pension contributions, according to Royal London
Posted: 27/11/2019
Only 28% of under-35s and 35% of those aged between 35 and 54 think the State Pension will still be around when they reach retirement, new research from Hargreaves Lansdown revealed
Posted: 26/11/2019
Fewer than one in 10 UK adults are confident they will have saved a comfortable amount into their pension when they stop working, according to a new survey commissioned by NFU Mutual
Posted: 22/11/2019
Labour has announced plans to freeze any increases to the State Pension Age beyond 66, should it get into power after the General Election
Posted: 21/11/2019
The Liberal Democrats party has published its manifesto for the upcoming General Election, which includes a promise to scrap the Capital Gains tax allowance, and to change the rate of income tax
Posted: 21/11/2019
More women live to the age of 100 years old compared to men in the UK, according to new analysis from retirement specialist Just Group, who suggested that life expectancy remains the cornerstone of later-life financial planning
Posted: 14/11/2019
Most people reaching the State Pension age are not receiving their full pension amount, new DWP figures have revealed
Posted: 13/11/2019
Retired households with the lowest incomes are receiving the least support from the State, raising concerns that many cash-strapped pensioners may not be checking their entitlement to benefits because they own their home, new research from HUB Financial Solutions has revealed.
The advisory firm announced that the lowest income group of retired households has a home ownership rate of 88% – higher than all but the richest quintile, at 90%
Posted: 11/11/2019
Pension scam victims could lose 22 years’ worth of savings within 24 hours, according to new analysis from The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA).
The research, part of the regulators’ joint ScamSmart campaign, has revealed that it could take 22 years for a saver to build a pension pot of £82,000 – the average amount victims lost to scams in 2018
Posted: 08/11/2019
A 25 year old on average earnings who becomes self-employed after 10 years, and maintains personal contributions into their pension at 5%, risks having a pension fund shortfall of £115,300 (39%) compared to if they had stayed in a workplace pension , according to new research by Aegon
Posted: 06/11/2019
Almost half of adults in the UK are opting against speaking with an adviser to plan their finances, according to a new Sanlam UK report, titled What’s your Number?
Posted: 04/11/2019
Three-quarters of employers want the pension tax regime simplified, with 67% saying more help should be targeted on lower earners even if this would mean reducing relief for higher income groups, results published in the ACA 2019 Pension trends survey have revealed
Posted: 04/11/2019
The Department for Work and Pensions (DWP) has published a new consultation on simplifying the annual statements sent to defined contribution pension scheme members
Posted: 01/11/2019
New rules have been announced aimed at helping pension savers make the most of their pensions, but putting on a brave face could be costly for retirees seeking to turn their pensions into guaranteed lifetime income, Just Group has warned.
The retirement specialist said the new rules should encourage retirees to fully disclose their health and lifestyle information, which could enable them to secure higher incomes
Posted: 01/11/2019
More than £3.35bn has been emptied from pensions by UK savers since April 2015 under ‘small pot lump sum’ rules, new figures from HMRC have revealed
Posted: 31/10/2019
A record £54m was repaid to savers who were overtaxed on pension freedoms withdrawals in the three months to September 2019, new figures from HMRC have revealed
Posted: 30/10/2019
As the UK’s two main political parties contend for support from the 10 million savers introduced to pension saving through automatic enrolment, pensions are likely to take a central role in the forthcoming General Election campaign, according to AJ Bell
Posted: 30/10/2019
A total of £30bn has been withdrawn ‘flexibly’ from pensions, taking advantage of the new ‘pension freedoms’ introduced in 2015, new figures published by HMRC have shown
Posted: 30/10/2019
People in their 70s and 80s are vulnerable to making decisions that lead to financial deprivation if they do not seek support, the Pensions Policy Institute (PPI) has said
Posted: 22/10/2019
The total number of over-65s living alone in the UK is on course to outnumber those aged under-65 for the first time on record within the next three years, according to new findings by the Equity Release Council (ERC).
The representative trade body for the equity release sector has estimated that more than 4 million over-65s will be living alone by 2020 – with this age group set to make up half of single-person households by 2022 – as life expectancies and the rate of divorce in later life increases
Posted: 22/10/2019
The population of the UK is expected to grow by approximately 3 million people by 2028, though according to the latest ONS data, this won’t affect the number of people of pensionable age
Posted: 21/10/2019
More than three-quarters of UK workers are unaware how much their pension value is worth, according to a new survey by Portafina.
Research by the pension advice specialist has revealed that workers are struggling to keep track of their own pension savings – meaning they could be missing out on thousands of pounds in retirement
Posted: 17/10/2019
Retirees are in line for a bumper 3.9% state pension increase, after the September inflation figure was confirmed at 1.7%
Posted: 16/10/2019
Almost 5 million people are classed as self-employed in the UK, an increase of 162,000 compared to a year ago, according to new research by AJ Bell
Posted: 15/10/2019
The Queen’s Speech has today outlined government proposals relating to pension dashboards, irresponsible pension scheme management and the issue of pension scamming
Posted: 14/10/2019
New measures to provide simpler oversight of pensions savings are to be brought forward, and a commitment to protect people’s retirement pots with new laws providing greater powers to tackle irresponsible management of private pension schemes, are among the government’s policies announced today in the Queen’s speech
Posted: 14/10/2019
The Office of Tax Simplification (OTS) has urged the Treasury to review a series of complex pension tax measures, in a latest report, with the impact of the money purchase annual allowance (MPAA), annual allowance and lifetime allowance all under the microscope
Posted: 11/10/2019
The number of customer complaints made to the Financial Ombudsman Service (FOS) relating to defined benefit (DB) transfers rose by 44% in 2018/19 in comparison to the previous year, according to research from Duff & Phelps
Posted: 09/10/2019
The Opposition has responded to yesterday’s High Court decision in the state pension age case, offering to support the women affected if it were to win the next General Election
Posted: 04/10/2019
The UK government is writing to British pensioners living in the EU to reassure them that their state pensions will continue to be paid when the UK leaves the EU, even in the event of a no deal Brexit.
Posted: 27/09/2019
Over 190,000 retirement plans entered drawdown and were not fully withdrawn in 2018/19, new FCA figures have shown
Posted: 25/09/2019
Four out of every five (80 per cent) savers underestimate how much money they will need to save to see them through retirement, according to research from Scottish Widows
Posted: 06/09/2019
Keeping income withdrawal rates within sustainable levels is crucial to the long-term success of income drawdown portfolios, according to Royal London
Posted: 03/09/2019
British expatriates in EU countries will continue to have their state pensions uprated in a no-deal Brexit scenario, the government said over the weekend
Posted: 02/09/2019
Increasing the higher rate income tax threshold from £50,000 to £80,000 would create “income tax winners” for those earning above £50k, but pension savers earning between these two values “will need to swallow the loss of higher rate pensions tax relief or take a 25% cut in future pension”, Aegon has said
Posted: 27/08/2019
Work and Pension Secretary Amber Rudd has said the state pension age (SPA) will not be increased to 75, as proposed by think tank The Centre for Social Justice (CDJ)
Posted: 21/08/2019
Half of advisers advising DB members think that a ban on contingent charging would result in a fall in demand for DB advice, effectively increasing the advice gap
Posted: 13/08/2019
Former Pensions Minister Steve Webb has branded “reckless caution” a fault of pension freedoms, labelling it as the thing that has “gone wrong” with the policy
Posted: 09/08/2019
The Work and Pensions (W&P) Committee is “unconvinced” the industry can illustrate how they are providing value for money to customers and has called on the government to compel them to do so
Posted: 05/08/2019
Pension savers hit with the emergency ‘Month 1’ tax bills from HMRC for accessing their pension reclaimed a record £47m using official forms in Q2 2019, according to latest figures
Posted: 31/07/2019
The number of pension transfers to QROPS remained relatively flat in the 2018/19 tax year at 5,000 transfers (up 6%) worth a total of £640m (down 14%) compared to the previous tax year (4,700 transfers worth £740m), highlighting the effect that the QROPS charge has had
Posted: 31/07/2019
Proposals set out today by the FCA around banning contingent charging for pension transfer advice, particularly for DB to DC transfers, is estimated to result in up to a £445m pa reduction in adviser revenue
Posted: 30/07/2019
The majority of advisers feel that they are relied upon ‘completely’ by newly established business clients to help them through their auto-enrolment (AE) responsibilities, The Pensions Regulator (TPR) has revealed
Posted: 29/07/2019
Locally administered pensions schemes are struggling to get to grip with their responsibilities, The Pensions Regulator (TPR) has revealed
Posted: 29/07/2019
Long-term charges on auto-enrolment (AE) schemes are costing savers up to nearly £7,000 of their pension pots over two decades of saving, Now Pensions has revealed
Posted: 26/07/2019
The pensions industry has reacted to the election of Boris Johnson as leader of the Conservative Party, with one expert asking him not to 'neglect' the domestic pensions agenda in the UK
Posted: 24/07/2019
The government has no plans to uprate the ‘age additional amount’ of 25 pence per week paid out to state pension recipients over the age of 80, Pensions Minister Guy Opperman has said
Posted: 23/07/2019
Drawdown investors' pension savings could have increased by up to £62,000 since the introduction of pension freedoms, research from Aegon has revealed
Posted: 23/07/2019
The Pensions Regulator’s (TPR) latest annual report has highlighted its increase in regulatory activity following its change to a ‘quicker, clearer, tougher’ approach
Posted: 22/07/2019
Almost three-quarters (74 per cent) of businesses want auto-enrolment (AE) to be extended to include the self-employed and those earning less than £10,000, a study has shown
Posted: 19/07/2019
Around 90 per cent of cases heard by The Pensions Ombudsman are concluded without the intervention of the pensions ombudsman, Anthony Arter, himself taking part
Posted: 19/07/2019
HMRC does not know how many people they are fining each year over breaches to pension tax relief regulations, Royal London has revealed
Posted: 18/07/2019
The number of self-employed workers in the UK has increased by 17 per cent to 5 million since the introduction of auto-enrolment (AE), according to the Office for National Statistics (ONS), leading to further calls for the government to amend AE legislation
Posted: 18/07/2019
The average FTSE 250 employer contribution rate into defined contribution pension schemes has risen by 40 per cent year-on-year, from 4.3 per cent to 6.1 per cent
Posted: 16/07/2019
Companies with defined benefit pensions are paying out nearly five times more in dividends than in DB scheme contributions, research from the University of Bath has shown
Posted: 12/07/2019
Women could be over £100,000 worse off than men by the time they reach retirement as they seek to balance caring responsibilities by working part time, new research has found
Posted: 12/07/2019
The number of savers who have sought guidance from Pension Wise in 2018/19 increased by more than 55,000 year-on-year, to 167,726
Posted: 11/07/2019
Defined benefit transfer values fell slightly over June 2019, according to XPS Transfer Watch
Posted: 11/07/2019
The deficit of schemes eligible for the Pension Protection Fund (PPF) decreased by £18.2bn to £51.7bn over June, as total scheme assets increased by 1.6 per cent over the month
Posted: 10/07/2019
The amount of people in the UK saving enough for a comfortable retirement has reached a record 59 per cent, research from Scottish Widows has revealed
Posted: 10/07/2019
The income gap between pensioner couples in the top and bottom income bands has widened over the past ten years, analysis from Aegon has revealed
Posted: 08/07/2019
The pension deficit for defined benefit schemes in the FTSE 350 decreased by £9bn over June to £48bn, Mercer has revealed
Posted: 05/07/2019
Nearly half (46 per cent) of people aged 55 and over do not feel prepared for retirement, research from Close Brothers has found
Posted: 04/07/2019
Savers have been facing a more challenging investment market in a period where they have had to take more individual responsibility of their savings, Financial Conduct Authority (FCA) chief executive, Andrew Bailey, has warned
Posted: 04/07/2019
The government has published a roadmap aimed at reducing financial instability for women in later life, including pensions wealth
Posted: 03/07/2019
The value of aggregate funding liabilities for UK defined benefit pension schemes has increased by £55bn over the past eight weeks, analysis from Buck has revealed
Posted: 03/07/2019
The Money and Pension Service (Maps) should be given “greater scope” to be able to provide stronger financial guidance, the Pensions and Lifetime Savings Association (PLSA) has said
Posted: 02/07/2019
Pensions freedoms are failing to meet the needs of consumers and could lead to a scandal in the next few years, a new paper by Age UK has said
Posted: 01/07/2019
The Department for Work and Pensions (DWP) has estimated that it will cost £2.5bn to uprate the state pension by 2.6 per cent in 2019/20
Posted: 28/06/2019
Roughly 9.5 million people who plan to work past retirement age fear their health will make it too difficult to do so, new research has found
Posted: 27/06/2019
The government has estimated that it will spend over £120bn on pension benefits in 2019/20, including £99bn of expenditure on the state pension
Posted: 26/06/2019
The Pensions Regulator (TPR) “must increase its focus on savers” in light of rising membership through auto-enrolment and increased saver risk due to pensions freedoms, according TPR chief executive Charles Counsell
Posted: 26/06/2019
The rules which reduce pension tax relief limits for higher earners are causing confusion for taxpayers which HMRC “simply does not grasp”, according to Royal London director of policy Steve Webb
Posted: 25/06/2019
Liberal Democrat MP for Eastbourne Stephen Lloyd has written to Chancellor Philip Hammond urging him to fix the net pay pension tax anomaly
Posted: 21/06/2019
Total membership of workplace pension schemes in the UK has increased by 4.5 million year-on-year to a record 45.6 million in 2018, according to the latest Office for National Statistics data
Posted: 21/06/2019
There are around 70 per cent more women saving into workplace pension schemes than before the introduction of auto-enrolment (AE), Equiniti has revealed
Posted: 20/06/2019
The number of people earning below the personal allowance threshold who contribute to a net pay or relief at source pension scheme steadily increased over three years, HMRC has revealed
Posted: 20/06/2019
Over half (52 per cent) of drawdown investors are unaware they can vary their income, according to research by Zurich
Posted: 19/06/2019
Three quarters (75 per cent) of UK defined benefit pension schemes are paying out higher benefit payments than they are receiving in contributions, Buck has revealed
Posted: 18/06/2019
Roughly 1.75 million low earners in net pay pension schemes are missing out on up to £111m of pensions tax relief, research from Now Pensions has found
Posted: 18/06/2019
Retirement savers in the UK are expected to outlive their savings by over a decade, according to new research from the World Economic Forum (WEF)
Posted: 17/06/2019
Transfer values were recorded at £241,500 over May, close to the £251,000 peak recorded in March, XPS Pensions Group has revealed
Posted: 13/06/2019
The rising level of employment is being driven by older workers as state pension age changes, improved life expectancy and transitional retirement’s growing popularity take effect
Posted: 12/06/2019
After dropping to a low of £6.4bn at the end of last month, the Pension Protection Fund has revealed the aggregate deficit of schemes in the PPF 7800 Index jumped up to £69.9bn at the end of May 2019
Posted: 12/06/2019
The number of pension transfers with reports of scam ‘red flags’ has increased by 21 percentage points over the past year, according to XPS Pensions Group
Posted: 11/06/2019
Plans announced by Boris Johnson, who is standing to be leader of the Conservatives, to raise the higher rate income tax threshold from £50,000 to £80,000 would have a knock-on impact for pensions tax relief
Posted: 11/06/2019
All pension schemes should appoint a pensions manager to oversee their investment responsibilities, a leading chief investment officer (CIO) has suggested
Posted: 10/06/2019
The government has estimated that it would cost a total of £181.4bn to reverse the state pension age (SPA) for women back to 60 between now and 2025/26
Posted: 07/06/2019
Pension fraudsters are playing the long game when it comes to scamming members, The Pensions Ombudsman (TPO) has warned
Posted: 07/06/2019
The Institute of Fiscal Studies (IFS) has said that the current pensions system loads “too much risk onto individuals”
Posted: 06/06/2019
Eligible employees participating in a workplace pension increased to 87 per cent over 2018, a 3 per cent rise on the previous year, government stats have revealed
Posted: 05/06/019
Women born in the 1950s that have had increases to their state pension age are heading to the High Court today as a judicial review commences looking into whether they were told about the changes sufficiently
Posted: 05/06/019
Pensions Minister Guy Opperman has admitted there has been a “significant problem”, as 3 per cent of online state pension forecasts were erroneous due to issues with HMRC data
Posted: 04/06/2019
One third (34 per cent) of people who accessed their pension savings via drawdown for the first time during a six-month period in 2018 did so without taking any advice
Posted: 03/06/2019
Her Majesty’s Revenue and Customs (HMRC) has withdrawn its appeal in a key court case regarding savers who breach their lifetime allowance (LA) fixed protection terms
Posted: 03/06/2019
Over 23 million UK workers are expected to need to work beyond the age of 65 due to cost of living increases and poor financial returns, research from Canada Life has revealed
Posted: 29/05/2019
Women expect to have nearly £100,000 less in pension savings than men when they reach retirement age, according to research from Brewin Dolphin
Posted: 29/05/2019
The number of employers providing their employees with information on their pensions has increased significantly over the past three years, according to the Department for Work and Pensions (DWP)
Posted: 28/05/2019
The Money and Pensions Service (Maps) has a total of £8.2m in funding for the implementation for the non-commercial pensions dashboard, Pensions Minister Guy Opperman has revealed
Posted: 24/05/2019
New templates aimed at delivering cost transparency across the pensions industry have been launched today, 21 May, by the Cost Transparency Initiative (CTI)
Posted: 22/05/2019
Upcoming changes to accounting standards rules could leave FTSE 100 pension schemes up to £100bn worse off, twice as much as previously predicted
Posted: 21/05/2019
Retirees living in Europe have seen the purchasing power of their pension decrease by 14 per cent over in the three years since Brexit, due to volatility in the currency market
Posted: 21/05/2019
The Midlands is home to six of the 10 areas with the lowest annual pension incomes in the UK, research by Salisbury House Wealth (SHW) has revealed
Posted: 20/05/2019
The Financial Ombudsman Service (FOS) saw a 24 per cent increase in pensions and investments complaints over 2018/19 as pension freedoms continue to have an effect, its annual review has revealed
Posted: 20/05/2019
HMRC has announced that it is delaying its deadline for providing potentially vital data that would allow schemes to pay out the guaranteed minimum pension (GMP) benefits its members are entitled to
Posted: 20/05/2019
The Pensions Regulator used its automatic enrolment powers 15 per cent more in the first quarter of 2019 than the previous quarter, it has revealed
Posted: 17/05/2019
The Pensions Regulator has secured an additional £7.6m of levy funding from the Department for Work and Pensions for the 2019/2020 tax year, it has revealed
Posted: 17/05/2019
There are four types of pension savers that members fit, which affect the way they engage with saving, new research by an academic working with the Pensions Policy Institute has found
Posted: 16/05/2019
There has been a ‘steady decline’ in transfer activity since mid-2018, according to XPS Pensions Group
Posted: 15/05/2019
Pension trustees have warned that scheme members are not prepared for the risks they may face in retirement, according to new research
Posted: 15/05/2019
The PPF 7800 deficit fell to £6.4bn over the month of April, down from £43.9bn at the end of March, according to the Pension Protection Fund
Posted: 14/05/2019
Defined benefit schemes are offering more support and flexibility to members, according to Aon’s 2019 Member Options Survey
Posted: 14/05/2019
The Pensions Regulator (TPR) has said it will launch two consultations over the next year to give a clearer idea on how defined benefit pensions should be funded
Posted: 13/05/2019
The Association of Consulting Actuaries (ACA) has proposed an industry-wide ‘model scheme’ to act as a guideline for schemes to simplify their pension benefits
Posted: 10/05/2019
Every pension scheme should consider offering partial transfers so members are not forced to make an “all-or-nothing decision” on their pension benefits, XPS Group has said
Posted: 09/05/2019
Government ministers have estimated that £33m was saved from “falling into the wrong hands” through the joint-regulator campaign against pension scams, Action Fraud
Posted: 07/05/2019
Over-taxation of pension freedoms has meant that a total of £433m has been reclaimed from HMRC by members withdrawing their pensions in the past four years
Posted: 01/05/2019
The total amount of pensions that has been flexibly withdrawn since the inception of pension freedoms has topped £25bn, HMRC has revealed
Posted: 01/05/2019
The government has reiterated its position on the net pay anomaly, after it said that it is “not cost effective” to reform pensions tax relief which could see workers miss out on up to £60m a year
Posted: 30/04/2019
Actuaries have been warned of the risks of giving “poor quality advice” that would result in trustees and employers unable to respond effectively to the challenges facing occupational pensions
Posted: 26/04/2019
The government should consider scrapping the triple lock for state pensions in favour of uprating the state pension in line with average earnings, a House of Lords committee has said
Posted: 25/04/2019
“Improving awareness of retirement savings” is key when it comes to increasing the amount of extra income above the state pension in retirement, according to Equiniti
Posted: 25/04/2019
Over 60 per cent of people chose to increase their monthly pension payments when their employer agreed to match the increases, analysis from Hargreaves Lansdown has found
Posted: 24/04/2019
Women of all age groups are at risk of a “financial meltdown” in the event of a relationship breakdown because of their lack of individual pension rights or even financial plans, according to new research by Royal London
Posted: 18/04/2019
Over 75 per cent of trustees would not ever consider moving to a commercial consolidators, according to a report by Hymans Robertson
Posted: 17/04/2019
Pension scheme members who use Pension Wise have a “greater understanding of the facts” regarding what they can do with their pension savings than non-users, analysis from the Department for Work and Pensions (DWP) has revealed
Posted: 15/04/2019
Over three-quarters (76 per cent) of workers in the UK were enrolled in occupational pensions schemes in 2018, research from the Office for National Statistics (ONS) has revealed
Posted: 12/04/2019
Three-quarters of consumers are unaware that pensions products are protected by the Financial Services Compensation Scheme (FSCS), research has found
Posted: 12/04/2019
The European Commission wants EU member states to continue allowing citizens to export their pension benefits to the UK in the event of a no-deal Brexit
Posted: 11/04/2019
The PPF 7800 Index deficit increased from £8.6bn to £43.9bn over March, an increase of £35.3bn, the Pension Protection Fund (PPF) has revealed
Posted: 10/04/2019
The average pension pot size of people aged 43-54 years-old is only 37 per cent of the amount recommended for a comfortable retirement, research from Salisbury House Wealth has revealed
Posted: 09/04/2019
Around one in eight companies have said they will adopt a Collective Defined Contribution (CDC) pension scheme of some sort by 2025, a survey from Willis Towers Watson (WTW) has found
Posted: 08/04/2019
Thousands of retirees shifting their pensions into drawdown are failing to calculate how much they can afford to take from their pot, putting them in danger of potentially draining their savings too soon, according to research from Zurich
Posted: 08/04/2019
The government has given the go ahead for the pensions dashboard, with the expectation that pension schemes can complete delivery within a three to four year window, it has revealed
Posted: 05/04/2019
Pension schemes hedged over £1trn of liabilities in 2018, a 6 per cent increase on the previous year, an XPS Investment survey has revealed
Posted: 04/04/2019
Workers saving into a pension through automatic enrolment (AE) could be £40,000 worse off in retirement due to the way minimum contributions are calculated, according to Now Pensions
Posted: 03/04/2019
Having adequate funding in retirement is the most common financial worry for UK employees, according to a new survey from Close Brothers
Posted: 02/04/2019
The government is forming a working group to consider the pensions tax issues arising from guaranteed minimum pensions (GMP) equalisation, almost five months after the High Court ruling
Posted: 29/03/2019
Only around a third (32 per cent) of people aged over 55 who have accessed their pension use a financial adviser for help with financial planning, research from Canada Life has revealed
Posted: 29/03/2019
Participation in workplace pension schemes has increased to 71 per cent, up from 49 per cent, since the introduction of automatic enrolment (AE) in October 2012
Posted: 29/03/2019
Lower employee pension participation rates among smaller employers remains a “puzzle”, despite the gap being reduced through auto-enrolment, the Institute for Fiscal Studies (IFS) has found
Posted: 27/03/2019
Despite companies’ willingness to help their employees make the right decisions when it comes to retirement, the tools and processes they utilise are not currently meeting these needs, according to Aon
Posted: 27/03/2019
A pensions specialist is urging people not to opt out of their workplace pension when their pension contribution increases from 3 per cent to 5 per cent on 6 April
Posted: 26/03/2019
Hundreds of pension schemes are now able to calculate transfer values to allow for guaranteed minimum pension (GMP) equalisation, JLT Employee Benefits has said
Posted: 26/03/2019
Savers did not regret flexibly accessing their pension savings as part of pension freedoms, despite the majority not using an adviser to help with their financial planning
Posted: 26/03/2019
Public and Commercial Services (PCS) Union has called on the government to freeze pension payments that are set to be cut, after a calculation error was exposed in relation to guaranteed minimum pension (GMP) payments
Posted: 25/03/2019
Prime Minister Theresa May has refused to budge on the government’s stance on Waspi women, adding that the government has already put extra money in following the increase in women’s state pension age
Posted: 22/03/2019
Pension transfers dropped from £8bn to £6.3bn in Q4 2018, a decrease of 20 per cent, according to the latest Office for National Statistics (ONS) figures
Posted: 22/03/2019
The cost of equalising guaranteed minimum pensions (GMP) is likely to cost almost half of the £15bn anticipated by the industry after the ruling, new analysis has found
Posted: 21/03/2019
Defined benefit pension scheme consultants must focus on the “end game” as schemes near towards the end game, according to Barnett Waddingham head of actuarial consulting Paul Houghton
Posted: 21/03/2019
The government should refrain from increasing the minimum contribution level for auto-enrolment schemes further, once the April increase comes into force, according to Hargreaves Lansdown senior analyst, Nathan Long
Posted: 20/03/2019
Legal & General (L&G) has completed a £230m buy-in for all of the pensioner and deferred members of the Howden Group Pension Plan
Posted: 20/03/2019
The surplus of UK broker company TP ICAP’s defined benefit (DB) pension scheme fell by £2m year-on-year to £55m, as of 31 December 2018
Posted: 19/03/2019
The government has announced that it will be pushing ahead with the introduction of collective defined contribution (CDC) pension schemes to improve the retirement outcomes for both employees and employers
Posted: 18/03/2019
Pension funds were “falling short” of best practice on their private equity investments, according to alternative investment solutions provider Efront
Posted: 15/03/2019
Pension transfer values closed February unchanged at £235,000, after initially increasing during the month, according to XPS Pensions Group
Posted: 15/03/2019
HSBC has announced that it will reduce the amount of money executive directors can receive in lieu of pension contributions, following criticism of its previous policy
Posted: 15/03/2019
Savers have accessed over £3.2bn of their savings through pension freedoms without taking any financial advice, new research from Saga has revealed
Posted: 14/03/2019
Over a third (37%) of over 50s said they think the UK will leave the European Union (EU) without a deal, with their biggest concerns being the rise of living costs and pension values falling, new research has revealed
Posted: 13/03/2019
Around 28 per cent of pension income will be from defined contribution schemes by 2060, up from 5 per cent in 2016/17, according to the Pensions Policy Institute (PPI)
Posted: 13/03/2019
A “radical reshaping” of financial advice firms used by pension providers for long-term investment strategies will benefit millions of savers and “boost” the UK’s £1.6trn retirement assets, plans published by government unveiled today
Posted: 12/03/2019
The PPF 7800 Index deficit dropped from £23.1bn to £8.6bn over February, a decrease of £14.5bn, the Pension Protection Fund has revealed
Posted: 12/03/2019
Around £3.3bn worth of money withdrawn from the pension pots of those accessing pension freedoms has been put in bank accounts, but these savers could face "double jeopardy"
Posted: 11/03/2019
The Women’s Trades Union Congress (TUC) has passed a Prospect motion calling for greater action to tackle the gender pension gap as it “deplores” the lack of progress being made
Posted: 08/03/2019
Investment in private markets and careful planning could increase defined contribution pension scheme investment returns by 15 per cent
Posted: 08/03/2019
Auto-enrolled pension savers have been warned that opting out of their workplace pension scheme could lose them £542,000 in pension savings over a lifetime, Aegon has warned
Posted: 07/03/2019
Following the publication of today’s Personal Income Statistics by HM Revenue & Customs (HMRC), Royal London has urged women to “get ahead of the curve” when it comes to pension saving, with figures revealing that women hit their peak median income in the 35 to 39 age range
Posted: 06/03/2019
As we approach the end of the tax year, Hargreaves Lansdown has predicted that more do it yourself (DIY) drawdown investors will take out cash, as the average amount taken increases by 28 per cent in March and 40 per cent in April, with 15 per cent of all pension cash outs occurring in March
Posted: 05/03/2019
Pensioners expecting to rely solely on their state pension could face a £68,000 shortfall in retirement, research by Nationwide Building Society has shown
Posted: 05/06/2019
The accounting deficit of DB pension schemes for FTSE 350 firms increased by £4bn to £45bn during February, Mercer’s latest Pension Risk Survey has revealed
Posted: 05/03/2019
Half (50 per cent) of people currently in retirement stopped working earlier than they had planned to, new research from Aegon has revealed
Posted: 04/03/2019
The combined deficit of the FTSE 100 defined benefit pension schemes fell by £8bn to £13bn over February, according to JLT Employee Benefits latest index figures
Posted: 01/03/2019
Over a fifth (22%) of those over the age of 40 said they have not yet started saving for their retirement, according to a survey conducted by Equity Release Supermarket (ERS), despite almost half claiming that they want to travel regularly in their “golden years”
Posted: 01/03/2019
The relative infancy of pension freedoms is causing confusion amongst the younger generation, who need more guidance on planning for their retirement, according to Prudential UK director of propositions, Stuart Paton Evans
Posted: 01/03/2019
The Pensions Regulator (TPR) is prosecuting a former head of a charity for the disabled on suspicion of having defrauded the charity’s pension scheme
Posted: 28/02/2019
The Government has today published an impact assessment following its decision to strip mixed-age couples of the right to claim Pension Credit
Posted: 28/02/2019
An accountant who acted as a trustee and administrator to pension schemes has admitted transferring more than £280,000 of pension funds to support his own businesses and investments
Posted: 27/02/2019
Pensions Minister Guy Opperman has reiterated the government’s commitment to reducing the automatic enrolment age limit from 22 to 18
Posted: 26/02/2019
“Very few” workers are aware that there will be changes to automatic enrolment contribution levels in April, new research from the Department for Work and Pensions (DWP) has revealed
Posted: 26/02/2019
Pension savers attempting to cash in on their final salary schemes could lose out on up to 55 per cent of the market value of their pension due to low transfer value offers, according to Telegraph Money
Posted: 25/02/2019
A majority (54%) of adults in the UK are unaware that their pension typically goes to the person who is named on their pension policy, rather than their will, putting them at risk of leaving their money to the wrong people, new research has found
Posted: 25/02/2019
The upcoming minimum contribution rise for those that have been automatically enrolled into a pension scheme will cause “minimal” opt-outs, according to analysis by Royal London
Posted: 25/02/2019
A housing association with nearly 10,000 homes has been judged non-compliant by the Regulator of Social Housing (RSH) after an unnamed executive was granted access to their pension before it matured
Posted: 22/02/2019
More than half (54 per cent) of Brits expect they will have to keep earning in retirement, while 13 per cent believe they will have to work for the rest of their lives, a survey has found
Posted: 21/02/2019
The number of new female claims for state pension benefits has fallen by 202,000 in one year following changes to the state pension age, new Department for Work and Pensions (DWP) figures have shown
Posted: 20/02/2019
Millions of workers could see their take-home pay fall in six weeks’ time when the minimum contribution amount through auto-enrolment increases
Posted: 18/02/2019
Pensions Minister Guy Opperman has reiterated the government’s commitment to the triple lock and reducing the level of poverty amongst pensioners
Posted: 15/02/2019
Pensioners are three times more likely to be targeted by fraudulent financial advisers, usually through the internet, than a cold calling phone scammer, according to data seen by Telegraph Money
Posted: 15/02/2019
The Pensions Ombudsman has upheld a complaint against Prudential with regards to the company not providing information to a member of a pension scheme it administered
Posted: 14/02/2019
The Competition and Markets Authority (CMA) has published its draft order of its suggested remedies into the investment consultant and fiduciary management markets
Posted: 14/02/2019
The aggregate deficit of DB schemes in the PPF 7800 Index fell by £8.8bn in ‘the best January for stocks in 30 years’, new figures from the Pension Protection Fund (PPF) have revealed
Posted: 12/02/2019
The Department for Work and Pensions (DWP) is looking into new ways it can gather information on the attitudes to working of older people, to avoid “missed opportunities” when policy making
Posted: 11/02/2019
The Pensions Minister, Guy Opperman, has confirmed that pension providers will be obligated to provide data for the upcoming pensions dashboard in a parliamentary debate held on 6 February
Posted: 08/02/2019
Government delays to pension reforms could result in low earners being thousands of pounds worse off, according to analysis from Trades Union Congress (TUC)
Posted: 06/02/2019
The accounting deficit of DB pension schemes in the FTSE 350 remained unchanged at £41bn in January, Mercer’s latest figures have revealed
Posted: 05/02/2019
Some industry members insisted that member outcomes could improve if defined benefit pension consolidation becomes commonplace in their responses to the government’s consultation
Posted: 05/02/2019
One third of UK workers plan on continuing to work once they reach state pension age, research from Rest Less has found
Posted: 04/02/2019
The combined deficit of FTSE 100 DB pension schemes increased by £1bn to £21bn during January 2019, JLT Employee Benefits' latest monthly funding update has revealed
Posted: 04/02/2019
The government faces increased public pension costs of around £4bn per year following the defeat of its appeal in the courts
Posted: 01/02/2019
Pension providers and advisers will be expected to pay £240m levy to the Financial Services Compensation Scheme (FSCS) over 2019/20, an increase of £43m on the previous nine months
Posted: 31/01/2019
The Department for Work and Pensions (DWP) should “seize the moment” over DB pensions benefit simplification, according to Royal London director of policy, Steve Webb
Posted: 31/01/2019
Brexit could result in British pensioners living in the European Union (EU) not receiving their annual state pension increases
Posted: 30/01/2019
The Equity Release Council has written to the government arguing for “housing wealth” to be included in the design of the pensions dashboard, so people are better able to see how it can support them in retirement
Posted: 30/01/2019
Some victims of pension scams have lost more than £1m in savings to fraudsters, The Pension Regulator has revealed
Posted: 29/01/2019
The Financial Conduct Authority (FCA) is consulting on plans to introduce ‘investment pathways’, as well as introducing new rules on ‘wake up packs’, in order to stop 100,000 consumers a year losing out on pension income
Posted: 28/01/2019
The short supply of illiquid assets in the UK could lead to a capacity crux in the bulk annuity market over the longer term, Legal and General has warned
Posted: 28/01/2019
The average value of pensions freedoms withdrawals per person fell to a record low of £7,197 in Q4 2018, down from £7,597 in the previous quarter, according to new figures from HMRC
Posted: 25/01/2019
The cost of GMP equalisation could be less than 1 per cent of total scheme liabilities for more than half of all pension schemes, XPS has found
Posted: 25/01/2019
The average default fund fell on average by 5.63 per cent in 2018, which proved to be “a tricky year for pension investors”, according to new research from Hargreaves Lansdown
Posted: 24/01/2019
More than 200,000 parents risk missing out on their future state pension entitlements in families where one parent does not work due to childcare commitments, HMRC has warned
Posted: 24/01/2019
The aggregate FTSE 100 DB pension scheme allocation to bonds rose to 66 per cent, as of 30 June 2018, up from 63 per cent on 30 June 2017, JLT Employee Benefits has revealed
Posted: 23/01/2019
The number of women working part-time compared to men risks making the pensions savings gap even worse, Aegon has warned
Posted: 23/01/2019
Pensions Minister Guy Opperman has responded cagily to a question asking whether the Department for Work and Pensions (DWP) had made an assessment of the effect on mixed-age couple the changes to eligibility for Pension Credit will have
Posted: 22/01/2019
The real world applications of Open Banking are beginning to unfold and should be “commonplace” by the end of 2019, according to the regulatory initiative’s policy chief
Posted: 22/01/2019
Employers lack the confidence and knowledge required to support their staff with financial concerns, despite workplace absence brought about by a lack of financial wellbeing costing businesses 4.2 million worker days each year, research from Aegon has revealed
Posted: 21/01/2019
Tens of thousands of savers risk a savings shortfall in later life due to neglecting their remaining pot after taking a tax-free cash lump sum, Zurich has warned
Posted: 21/01/2019
The Insolvency Service has applied to wind-up 24 companies, connected to 3,750 pension-scam victims, for “pension misuse” since 2015, according to its latest figures
Posted: 21/01/2019
Work and Pension Committee chair Frank Field has written to the Secretary of State for Work and Pensions Amber Rudd, asking for her to clarify a number of issues arising from the government’s changes to the Pension Credit
Posted: 21/01/2019
The government should switch to using one single general measure in order to fix an error in the retail price index (RPI), in a move which could negatively affect private sector pension deficits
Posted: 18/01/2019
The pensions industry could be facing a “capacity crunch” once schemes fully understand the process of equalising guaranteed minimum pensions (GMP), it has been suggested
Posted: 18/01/2019
The Competition and Markets Authority (CMA) is set to consult on the draft order of its suggested remedies into the investment consultant and fiduciary management markets in mid-February, it has confirmed
Posted: 17/01/2019
Workers who need to top up their state pension to fill in past contribution gaps should do so before 6 April, or risk paying a hike in contributions, experts have warned
Posted: 16/01/2019
The Department for Work and Pensions (DWP) has “sneaked out” an announcement that will cut benefits available to some older ‘mixed age’ couples by over £7,000 per year
Posted: 15/01/2019
Under fire self-invested personal pension (SIPP) provider Liberty SIPP has been accused putting pension investments at risk when allowing clients to invest in unregulated overseas carbon credits schemes
Posted: 15/01/2019
Hargreaves Lansdown has warned that there will be “winners and losers” in its response to the government’s collective defined contribution (CDC) scheme consultation
Posted: 15/01/2019
Those approaching or in retirement could be faced with unexpected tax bills due to low levels of awareness of the Money Purchase Annual Allowance (MPAA), with 22 per cent of consumers unaware of the annual limit you can pay into your pension after drawdown, new research from Canada Life has found
Posted: 14/01/2019
The number of people who have been automatically enrolled into a pension scheme has increased to 9.985 million over December, according to The Pension Regulator’s (TPR) latest figures
Posted: 14/01/2019
Consumers lacking an “adequate” retirement income is the “central challenge” facing the pensions sector in 2019, according to the Financial Conduct Authority (FCA)
Posted: 11/01/2019
Pension transfer values increased from £230,000 to £235,000 over a volatile December, XPS Pensions Group has revealed
Posted: 11/01/2019
Nearly seven in 10 (69 per cent) home owning pensioners eligible for state support were failing to claim their full benefits entitlement in 2018, according to new research by Just Group
Posted: 10/01/2019
The pension cold-calling ban will take effect today, 9 January, making it illegal for any member to receive unsolicited calls about their pension
Posted: 09/01/2019
Britons under the age of 32 are the most optimistic about the age at which they plan to retire, despite being the age group that is least financially prepared, research from Navigate Wealth has found
Posted: 09/01/2019
The aggregate deficit of DB schemes in the PPF 7800 Index increased by £46.2bn over December, the Pension Protection Fund has revealed
Posted: 08/01/2019
Compensation payouts to members who have been wrongly advised to transfer out of DB schemes have doubled to £40m in two years, new data from the Financial Services Compensation Scheme (FSCS) has revealed
Posted: 08/01/2019
The Work and Pensions Committee has launched an inquiry into contingent charging in order to gather evidence around the likelihood it increases bad advice, it has been revealed
Posted: 07/01/2019
Those poorest in retirement are the ones gambling most with pension freedoms, leaving them acutely vulnerable to a downturn, new analysis from retirement specialist Responsible Life has revealed
Posted: 07/01/2019
The average divorced woman over 50 has a pension wealth of £131,000 compared with £454,000 for the average married couple, new research from Royal London has found
Posted: 07/01/2019
The FTSE 350 DB pension deficit increased by 28 per cent in 2018, from £32bn to £41bn, figures from Mercer have revealed
Posted: 07/01/2019
Some industry members have questioned the Resolution Foundation's recent proposal of capping tax-free lump sums for pensions at £40,000
Posted: 07/01/2019
Almost 5,000 pension transfers were completed by firms who were later told to exit the market, after the Financial Conduct Authority (FCA) found issues with their advice, it has been revealed
Posted: 07/01/2019
The combined deficit of FTSE 100 DB pension schemes dropped by £13bn to £20bn over the past 12 months, according to JLT Employee Benefits' latest monthly funding update
Posted: 02/01/2019
Employers would support a “small increase” in automatic enrolment pension contributions after the planned April 2019 rise, a report from the Association of Consulting Actuaries (ACA) has found
Posted: 02/01/2019
The Pensions Ombudsman has released a consultation on making a new provision for dispute resolution, in particular “a function for early resolution of disputes before a determination”
Posted: 21/12/2018
Pension withdrawals through drawdown or cash withdrawals totalled £5.7bn in 2017, new data from the Association of British Insurers (ABI) has revealed
Posted: 21/12/2018
The ban on pension cold-calling has been approved by parliament and will take effect from 9 January 2019 to help tackle pension scams
Posted: 20/12/2018
The UK government has released guidance confirming that UK nationals living in the European Union (EU) will still receive their state pension in a no deal Brexit scenario
Posted: 19/12/2018
The Pensions Regulator has named Charles Counsell as its new chief executive, taking over from Lesley Titcomb who will leave in February 2019
Posted: 18/12/2018
The government has announced that it will publish a paper setting out “targeted interventions and partnerships” to boost pension saving amongst the self-employed early next year
Posted: 18/12/2018
State pension income made up an average of 57 per cent of the total retirement income for those aged over 65, with the state pension age providing “the bedrock for later life”, according to research from Just Group
Posted: 17/12/2018
Women and men both face years in “not good” health before they reach retirement, data from the Office of National Statistics has shown
Posted: 14/12/2018
Defined benefit pension transfer values increased to £8.6bn in the third quarter of 2018, data from the Office for National Statistics has revealed
Posted: 13/12/2018
The “squeezed middle” are the people that are most worried about having adequate retirement savings, Aon has revealed
Posted: 13/12/2018
The number of people who have been automatically enrolled into a pension scheme has increased to 9.96 million over November, according to The Pension Regulator’s latest figures
Posted: 12/12/2018
A hard Brexit scenario could result in a £219bn increase in the aggregate buyout deficit of UK pension funds, according to Cardano
Posted: 11/12/2018
Pension transfer values fell from £235,000 to £230,000 over November, fluctuating throughout the month, XPS Pensions Group has revealed
Posted: 10/12/2018
Royal London director of policy Steve Webb is in the running to become the next chief executive of The Pensions Regulator
Posted: 10/12/2018
A new legislative and regulatory regime requiring defined benefit superfunds to be authorised will be put in place under new plans announced by the government today, 7 December
Posted: 07/12/2018
Brexit secretary Stephen Barclay has pledged to increase state pensions of UK nationals living in the European Union (EU) in the event of a no-deal, though the EU must reciprocate the agreement
Posted: 06/12/2018
Four in five (80 per cent) of pension schemes think they are likely to become cash flow negative within the next five years, according to research by PwC
Posted: 06/12/2018
The state pension age begins increasing to the age of 66 from 65 today, as analysis by Aegon reveals the proportion of people in receipt of the state pension has dropped in the past 10 years
Posted: 05/12/2018
The total deficit of FTSE 350 DB pension schemes fell to £17bn, as of 30 November, according to research from Mercer
Posted: 05/12/2018
Pensions Minister Guy Opperman has confirmed that the auto-enrolment earning threshold will stay frozen at £10,000 for 2019/20
Posted: 05/12/2018
The government has released its dashboard consultation and feasibility study, which has revealed its plan to have multiple pensions dashboards
Posted: 04/12/2018
Workers approaching retirement have named not having enough money as their biggest retirement fear, according to data from Hargreaves Lansdown
Posted: 04/12/2018
The combined deficit of FTSE 100 pension schemes dropped by £21bn to £1bn over the past 12 months, according to JLT Employee Benefits' latest monthly funding update
Posted: 03/12/2018
Prime Minister Theresa May has reaffirmed her support for the delivery and launch of the pensions dashboard
Posted: 03/12/2018
A judge has granted permission for a judicial review to be conducted to look into the alleged mishandling of raising the state pension age for women born in the 1950s
Posted: 03/12/2018
Nearly all employers (97 per cent) are planning on either maintaining or increasing their spending on employee benefits over the next two years, according to new research from the CIPD and LCP
Posted: 30/11/2018
The deficit of UK defined benefit pension funds at the end of November was £230bn, the same level as the end of the previous month, according to new data from PwC
Posted: 30/11/2018
Almost one-third of 25-44 year-olds have received no form of correspondence from any of their pension providers, new research has found
Posted: 30/11/2018
Just under a quarter (23 per cent) of people believe their retirement is likely to be a financial struggle, according to new research from Aviva
Posted: 29/11/2018
The Financial Services Compensation Scheme (FSCS) has confirmed that it will increase its retail pool levy by £69m to cover its running costs
Posted: 29/11/2018
Those under the age of 40 are savvy when it comes to their saving habits, but are failing to focus on their pension and retirement planning, according to new research from The Nottingham Building Society
Posted: 28/11/2018
Baby boomers may be enjoying a “financial golden age”, but one in three (33 per cent) approaching retirement do not feel that they will have enough savings to retire on, according to new research from LV=
Posted: 28/11/2018
The requirement for pension providers to guide consumers towards Pension Wise for advice does not come early enough, according to Royal London director of policy, Steve Webb
Posted: 28/11/2018
Savers who want to retire at 65 will need to “bridge the gap” created by the increasing state pension age and gender equalisation to ensure a comfortable retirement, according research from Aegon
Posted: 27/11/2018
More people have cashed their pension pot entirely after consulting Pension Wise (28%), when compared to those who have not utilised the service (17%), new research has revealed
Posted: 27/11/2018
Just 24 per cent of 40 to 79 year-olds receiving professional financial advice are women, new data from Selectapension has revealed
Posted: 27/11/2018
Nearly six in 10 retirees aged between 50-65 were forced to quit work rather than choosing to leave because they did not need the income, according to new research from Just Group
Posted: 26/11/2018
Young workers risk being overconfident in their pension savings, which could cost them in the long run, according to research from BlackRock
Posted: 26/11/2018
Women affected by the equalisation of the state pension age, and the lack of communication thereafter, have been left in a “grotesquely disadvantaged” situation, according to Work and Pensions Committee chair, Frank Field
Posted: 23/11/2018
Up to eight out of 10 pension schemes’ employers could face additional costs due to the High Court ruling on GMP equalisation, according to XPS Pensions Group (XPS)
Posted: 23/11/2018
Guy Opperman has defended the amount of newspaper coverage that state pension age equalisation has received, following complaints about the lack of communication
Posted: 22/11/2018
Savers must have flexibility in the future pensions landscape to combat key challenges, Pensions Policy Institute (PPI) research has said
Posted: 21/11/2018
Growth in fiduciary management mandates has slowed in 2018, growing by 9 per cent in the 12 months to June, compared to 30 per cent in 2017, analysis by KPMG has found
Posted: 20/11/2018
Poor choices in pension savings can lead to people feeling “depressed in later life”, according to the English Longitudinal Study of Ageing (ELSA) study
Posted: 20/11/2018
The creation of a ‘Pensions Pound’ could lead to “radical simplification” of defined benefit pension rights, the Association of Consulting Actuaries (ACA) and Royal London have suggested
Posted: 19/11/2018
With the personal allowance set to increase to £12,500 in April 2019, the amount of tax relief being missed for those savers in net pay schemes will increase to £64 per year, new research has revealed
Posted: 19/11/2018
Women’s pensions pots are 27.5 per cent smaller than men's, of those who shop around for a high guaranteed life income, according to LEBC analysis
Posted: 19/11/2018
The recent High Court judgement on GMP equalisation could mean that up to £50bn of buy-ins may need to be “restructured”, Aon has suggested
Posted: 16/11/2018
Over half (53 per cent) of income drawdown customers are withdrawing an income that is not sustainable for the rest of their life, according to analysis by Royal London
Posted: 15/11/2018
More than 156,000 pensioners who keep their pot invested throughout retirement do not have a cash “safety net” in the event of a falling market, Zurich has found
Posted: 15/11/2018
UK pension savers need to save seven times their annual household income by the time they hit 68, in order to maintain their lifestyle in retirement, Fidelity International has found
Posted: 14/11/2018
Increases to the state pension age mean approximately 670,000 people each year will have to wait longer before benefitting, while the government could save £11bn a year in this time, according to analysis from Aegon
Posted: 14/11/2018
Seventy-four per cent of defined contribution members are interested in comparing the performance of their pension scheme with others in the market, it has been revealed
Posted: 14/11/2018
DB pension schemes and advisers have been left unsure of how to proceed with pension transfers following the High Court ruling on guaranteed minimum pensions (GMPs), according to Royal London
Posted: 12/11/2018
Though half of today’s over-40s have a basic understanding of the key retirement factors that will influence their retirement decisions, one in 14 are at “high risk” of failing to meet their requirements, according to new data published today
Posted: 12/11/2018
Defined benefit pension transfer values fluctuated and had the biggest monthly change for over a year during October 2018, increasing by the end of month to £235,000
Posted: 08/11/2018
Twenty-nine per cent of pension savers said they would invest more into their pension if they knew the Financial Services Compensation Scheme (FSCS) protected it, new research has revealed
Posted: 08/11/2018
More than half (54 per cent) of self-employed workers would welcome further government support in pensions saving, according to research conducted by Prudential
Posted: 07/11/2018
The Department for Work and Pensions (DWP) has launched its consultation on collective defined benefit (CDC) schemes
Posted: 07/11/2018
The collective FTSE 350 pension scheme deficit hit £36bn over October in the “largest swing in month end deficits” since August 2016, Mercer has said
Posted: 06/11/2018
Women’s state pension age will be equal to men’s state pension age from Tuesday the 6 November, after legislation was first passed in 1995
Posted: 05/11/2018
Flexible pension withdrawals hit a record high of 585,000 in Q3 2018, according to HMRC, up from 574,000 in Q2 2018
Posted: 02/11/2018
The combined defined benefit deficit of schemes in PwC’s Skyval Index soared to £230bn at the end of October
Posted: 01/11/2018
Over £38m has been reclaimed by savers who were overtaxed on their pension freedoms withdrawals in the third quarter of 2018, marking the highest figure on record, according to HM Revenue & Customs (HMRC) most recent Pension Schemes Newsletter
Posted: 31/10/2018
Nearly half of women (49 per cent) do not feel confident that they will have a comfortable retirement, compared to 33 per cent of men, according to research from Aegon
Posted: 31/10/2018
The “burden” of auto-enrolment will “ultimately be borne by workers” as the policy is set to directly impact projected wage growth, according to the Office for Budget Responsibility (OBR)
Posted: 31/10/2018
HMRC could be in line to jump ahead of pension schemes for funding when a business enters insolvency, is has been suggested
Posted: 29/10/2018
The Chancellor Philip Hammond has paved the way to use billions of pounds of defined contribution pension money to fund fast-growing British technology companies
Posted: 29/10/2018
Chancellor Philip Hammond has not made any cuts to the pensions allowances in his Budget, today 29 October
Posted: 29/10/2018
One million more women in their 20s could be saving more adequately for retirement if they were able to access emergency cash from their pension, according to a new report published by Scottish Widows
Posted: 29/10/2018
Chancellor Philip Hammond will today launch a long-awaited consultation on introducing collective defined contribution (CDC) pensions in the UK, reports from this morning have suggested
Posted: 29/10/2018
Lloyds has lost a landmark High Court case after it ruled that it must now equalise pensions benefits for men and women in what could have huge consequences for thousands of companies
Posted: 29/10/2018
Chancellor Philip Hammond is expected to unveil plans to use billions of pounds of defined contribution pension money to fund fast-growing British technology companies
Posted: 26/10/2018
The average pension pot for a woman in the UK is five times less than a man’s, new research from the Chartered Insurance Institute (CII) has found
Posted: 25/10/2018
Pension fund returns are becoming more subdued and withdrawal rates are increasing, according to new data from Moneyfacts UK
Posted: 24/10/2018
Women who opt for a drawdown product have an income that is 37 per cent lower than men, according to new research by Zurich
Posted: 24/10/2018
A marked upward trend for pension sales, partly fuelled by auto-enrolment and an equally marked downward trend in ISA sales are two of the main observations to arise from the FCA’s Retail Product Sale Data published today
Posted: 23/10/2018
Nest has revealed its plans to encourage the self-employed to save more for their retirement, following its latest research that has identified three main sub-groups that the self-employed fall into
Posted: 23/10/2018
More than three quarters (76 per cent) of people aged over-55 do not know that medical conditions or lifestyle choices could increase the money they receive from an annuity
Posted: 23/10/2018
The UK remained in 15th place in the Melbourne Mercer Global Pension Index for 2018, but has seen its overall score on the Index improve slightly
Posted: 22/10/2018
The Pensions Minister has confirmed that there will be new pensions legislation in summer 2019, in a speech at the Pensions and Lifetime Savings Association’s annual conference yesterday, 18 October
Posted: 19/10/2018
The pensions industry cannot afford to be complacent despite the success of auto-enrolment, Pensions and Lifetime Savings Association chair Richard Butcher has said
Posted: 18/10/2018
The HSBC UK pension scheme will invest £250m in renewable energy in Britain, following a competitive tender process
Posted: 17/10/2018
Following today’s publication of the inflation rate for September, Royal London director of policy Steve Webb has said that, whilst the rates of working age benefits have been squeezed for many years, “pensioners look set to enjoy another above-inflation increase”
Posted: 17/10/2018
Around 37 per cent of pension schemes are in surplus against their funding target, according to new data released by Mercer
Posted: 17/10/2018
A group of 10 of the largest investment, savings and pensions trade bodies have endorsed a new joint venture aimed at delivering a long-term governance solution to transfers
Posted: 16/10/2018
Up to £20bn worth of pension pots could remain unclaimed, new research from the Pensions Policy Institute (PPI) has found
Posted: 16/10/2018
Pensions freedom and choice could result in a tax revenue increase of £19bn over the next 10 years, according to the latest research from the Pensions Policy Institute (PPI)
Posted: 15/10/2018
Seventy-eight per cent of employers think that the pensions tapered annual allowance should be re-thought, according to the Association of Consulting Actuaries
Posted: 15/10/2018
Defined benefit pension transfer values fluctuated over September, falling slightly by the end of month to £230,000
Posted: 12/10/2018
Over 90 per cent of small and micro employers said no members asked to leave their pension scheme following the increase of minimum auto-enrolment contributions in April 2018, The Pensions Regulator has revealed
Posted: 12/10/2018
The aggregate risk across FTSE 100 defined benefit pension schemes has fallen by 23.5 per cent since 2017, according to Cardano and Lincoln Pensions
Posted: 11/10/2018
Government regulatory “tinkering” and poor communication has led to a severe lack of trust in the UK pensions industry, it has been suggested
Posted: 10/10/2018
An employee earning the UK’s average income, who was auto-enrolled (AE) in October 2012 when it was introduced, and has contributed the minimum amount over the last six years, will have generated a pension pot of £3,353, new research from Aegon has revealed
Posted: 10/10/2018
The government is reportedly “looking at the opportunities” a digital tax system could bring to “tackle any differences” in the way pensions tax relief is paid
Posted: 10/10/2018
The deficit of defined benefit schemes in the PPF 7800 Index decreased by £26.6bn over September, ending the month on £38.7bn
Posted: 10/10/2018
Almost 70 per cent of the British public do not understand which pensions products they should be investing in, new research has found
Posted: 09/10/2018
Seventy-nine per cent of pension savers are “indifferent” to where their pension is invested, as long as it delivers a reasonable return, new research has found
Posted: 08/10/2018
NOW: Pensions CEO Troy Clutterbuck has signed a letter to Chancellor Philip Hammond, which aims to address the pay anomaly in the forthcoming Budget, and highlighted that “more than a million low earners are missing out on tax relief” on pension contributions
Posted: 05/10/2018
The accounting deficit of defined benefit pension schemes for the UK’s 350 largest listed companies increased by £5bn to £34bn between the end of June and the end of September, according to Mercer’s latest data
Posted: 05/10/2018
Unions from around the globe are joining forces with their pension trustees to put pressure on asset managers and regulators to come clean over the hidden costs of charges to pensions schemes, UNISON has said
Posted: 04/10/2018
The combined defined benefit pension deficit dropped by £20bn over September 2018, new figures have revealed
Posted: 03/10/2018
A pensions campaign group has urged the government to re-look at its options for granting pension freedoms to over five million pre-2015 retirees
Posted: 01/10/2018
The latest monthly defined benefit funding indexes have shown that FTSE 100 pension schemes’ deficits have decreased by £1bn to £2bn over the past month, JLT’s latest data revealed
Posted: 01/10/2018
A change in the discount rate used to value public sector pensions, which could lead to increased transfers from public sector employers to the Treasury, may create a £5bn shortfall in the delivery of frontline public services
Posted: 26/09/2018
Around 53 per cent of advisers said their clients had heard of annuities but had little understanding of their features and benefits, new data from Primetime Retirement has revealed
Posted: 26/09/2018
Almost two thirds (62%) of financial advisers want greater priority given to implementing a ‘cold calling’ ban on pensions and almost six in ten (59%) financial advisers are calling for greater government priority on a new deal on funding social care
Posted: 26/09/2018
Former BHS owner, Dominic Chappell, has lost his appeal against his conviction that found him guilty of failing to hand over information to The Pensions Regulator in relation to the collapsed retail chain's pension scheme
Posted: 21/09/2018
A potential cut to the pensions annual allowance at the Autumn Budget, in order to find extra money for the NHS, could drive doctors away, it has been suggested
Posted: 20/09/2018
Fifty-six per cent of advisers support an enabling of an effective triage process by the FCA for clients considering seeking advice on DB transfers, and there is also strong support for a continued contingent charging option, including among firms not offering DB transfer advice
Posted: 20/09/2018
The Pension Protection Fund has set its next levy estimate at £500m for 2019/20, a drop of £50m on the 2018/19 estimate
Posted: 20/09/2018
The Financial Conduct Authority’s chief executive, Andrew Bailey, has said he is “not convinced” of introducing a charge cap on drawdown products
Posted: 19/09/2018
The Home Secretary Sajid Javid has recommended scrapping automatic enrolment if Britain were to leave the European Union without a deal
Posted: 18/09/2018
On 15 September 2016, annuity rates for a 65 year old plummeted to a low of £4,495, but have since increased by 19% reaching £5,341, based on a £100,000 pension, according to the figures released by Hargreaves Lansdown
Posted: 17/09/2018
Pensioners in London have only £6 left over on average after their monthly household spending, according to new research from the Office for National Statistics (ONS)
Posted: 14/09/2018
The success of automatic enrolment is in danger of being “oversold” once April 2019 contribution increases go through, it has been said
Posted: 14/09/2018
Defined benefit pension transfer values remained stable over August, fluctuating mildly over the month, according to the latest data
Posted: 13/09/2018
The DWP has had to halt and alter plans for new regulations regarding pension compensation for employees of companies that enter insolvency
Posted: 12/09/2018
The Department for Work and Pensions (DWP) has rejected a suggestion to allow individuals to retain their previous pension provider after they change jobs
Posted: 12/09/2018
The government has confirmed that trustees will not be required act on members’ views on how the pension scheme is invested, following initial confusion in its draft consultation
Posted: 12/09/2018
Small defined benefit schemes are “lagging behind” larger schemes when it comes to good governance, The Pensions Regulator has found
Posted: 11/09/2018
More than a fifth (21 per cent) of FTSE 350 companies with a DB pension scheme do not disclose their funding deficit or surplus position, according to new research from Lincoln Pensions
Posted: 10/09/2018
The number of people taking a full cash withdrawal from their pension pots has fallen by 9 per cent, Financial Conduct Authority (FCA) data has revealed
Posted: 10/09/2018
New figures released today from PwC’s Skyval Index revealed the deficit of defined benefit (DB) pensions funds stood at £170bn at the end of August 2018, £10bn less than the £180bn figure reported at the end of July 2018
Posted: 07/09/2018
Average contributions into private sector DC pension schemes during 2017 fell to 3.4 per cent, Office for National Statistics results have revealed
Posted: 07/09/2018
The sale of drawdown products continued to grow at a faster rate when compared to traditional annuity solutions, up 8% in the second half of 2017/18 from the same period in 2016/17, according to the Financial Conduct Authority’s (FCA) Data Bulletin September 2018
Posted: 06/09/2018
Fifty-three per cent of people are worried about the governments delay in implementing a cold calling ban, according to a recent study by Aegon
Posted: 05/09/2018
The FTSE 350 defined benefit pension deficit increased for the second consecutive month, from £32bn to £34bn, as of 31 August 2018, according to Mercer’s Pension Risk Survey
Posted: 04/09/2018
FTSE 100 pension schemes have slipped back into deficit, after breaking into surplus last month for the first time in ten years, according to JLT Employee Benefits (JLT) monthly index
Posted: 03/09/2018
An FCA clampdown on the ‘triage’ process when clients ask about pension transfers risks
"poor consumer outcomes", Royal London has argued, despite huge variations in how firms triage pension transfer inquiries.
A survey of almost 400 financial advisers by mutual insurer Royal London, found that more than two thirds of advice firms operate an initial triage process when approached about a potential transfer, but what this means in practice varies hugely. When asked ‘what percentage of clients are triaged and do not then take things further’, replies ranged from ‘NIL’ to ‘over 90%’
Posted: 03/09/2018
According to Sanlam UK’s report, The Generation Game, 33% of under 45’s claimed to have less than £10,000 in their pension pot, while a quarter of them said they do not know the value or do not have one at all
Posted: 03/09/2018
Around 10 million UK residents could retire with £15,000 less in their pension pots if the government abandons the pension dashboard
Posted: 31/08/2018
Prime Minister Theresa May aims to use money from pension funds to help generate up to a total of £8bn of public and private investments across Africa over the next four years
Posted: 30/08/2018
The government should consider allowing consumers to sell their annuities on a secondary market, Liberal Democrat spokesperson for work and pensions Stephen Lloyd MP has said
Posted: 30/08/2018
The Pensions Regulator has written to 14 pension schemes so far this year encouraging trustees to consider cutting the transfer values on offer when workers transfer out of the pension scheme
Posted: 29/08/2018
Public sector workers retire on a pension on average three times larger their private sector counterparts, a TaxPayers’ Alliance report has revealed
Posted: 29/08/2018
Chancellor Phillip Hammond is to consider cutting higher-rate pension tax relief in an effort to find extra money for the NHS
Posted: 28/08/2018
The government has warned that UK pensioners living in Europe, or UK pensioners with EU-pension entitlements, may lose access to their pensions in the event of a no-deal Brexit
Posted: 24/08/2018
Thirty-one per cent of the self-employed plan to rely entirely on the state pension in retirement, research by Prudential has found
Posted: 24/08/2018
The Liberal Democrat’s spokesperson for work and pensions, Stephen Lloyd, has blasted the government over its failure to implement a cold calling ban, especially in light of new figures on pension scams
Posted: 15/08/2018
Wealth tied up in people’s houses is no automatic ‘safety valve’ for people who have inadequate pension savings, according to new research by Royal London
Posted: 14/08/2018
Pension scam victims lose an average of £91,000 each as fraudsters see opportunity to loot pension pots, as Action Fraud revealed that a total of 253 victims reported losing more than £23m to scammers in 2017
Posted: 14/08/2018
Standard Life’s default fund returned less than half than that of the top performing provider, Zurich, over the last three years, despite having active management elements in the fund, it has been revealed
Posted: 13/08/2018
Legal & General (L&G) has completed £735m of pension risk transfer deals in the first half of 2018 and expects to close on a further £7bn of transactions in H2 2018
Posted: 10/08/2018
The aggregate pension deficit of the top 350 performing firms in the UK has fallen by £27bn to £35bn since the beginning of 2017, according to new data
Posted: 09/08/2018
Just 4 per cent of women have savings of over £300,000 in their pension funds, compared to 15 per cent of men, according to Aegon
Posted: 08/08/2018
Members with average transfer values of £230,000 could lose up to seven years of retirement income under freedom and choice, XPS Pensions Group has found
Posted: 07/08/2018
The deficit of the FTSE 350 grew by £3bn over July as the overall deficit grew from £29bn to £32bn, Mercer has said
Posted: 03/08/2018
Over a third (37 per cent) of eligible employees are unaware that they have been enrolled into a pension by their employer, according to the latest data from the Office for National Statistics
Posted: 02/08/2018
After ten years of deficits, FTSE 100 pension schemes have moved into surplus, according to the most recent JLT Employee Benefits (JLT) monthly index
Posted: 01/08/2018
The number of transfers to Qualifying Recognised Overseas Pension Schemes (QROPS) fell from 9700 in 2016 to 2017 to 4,700 in 2017 to 2018, according to latest figures published by HMRC
Posted: 31/07/2018
The second quarter of 2018 saw £2.27bn flexibility withdrawn through pension freedoms by 264,000 individuals, the most since the introduction of freedoms in 2015, HMRC has revealed
Posted: 31/07/2018
Over half, 53 per cent, of pension schemes leave it to the point of retirement, or within a year, before first contacting members about their retirement options, new research has found
Posted: 30/07/2018
Cashing in small pension pots at age 55 to rely on state benefits in retirement could leave thousands of people vulnerable and struggling to achieve an acceptable income in later life, suggested new analysis from Just Group
Posted: 30/07/2018
FTSE 100 DB schemes recently took “significant” steps to combat investment mismatching over the year to 31 December 2017, according to the most recent report from JLT Employee Benefits (JLT)
Posted: 30/07/2018
Over 80 per cent of pension decision makers have highlighted cost-efficiency as their greatest concern, new research has found
Posted: 24/07/2018
The government delays in implementing the cold-calling ban and the pensions dashboard are consequences of the Brexit process, Aegon has said
Posted: 23/07/2018
Around one in 10 people who are planning to retire this year expect to withdraw their entire pension savings in one lump sum, according to Prudential
Posted: 23/07/2018
The Association of British Insurers (ABI) has said there is “no credible reason” for the dashboard to be killed off, a letter to the Work and Pension Committee has revealed
Posted: 20/07/2018
Almost a quarter of millennials believe they will never be able to afford to give up working, with a fifth believing that the state pension will no longer be on offer when they reach retirement age, it has been found
Posted: 19/07/2018
The number of people in retirement has dropped by 265,000 over the five-year period from March to May 2013 to March to May 2018, according to the Office for National Statistics' (ONS) July UK Labour Market report
Posted: 18/07/2018
The government should set a “swift timetable” to allow companies to create collective defined contribution (CDC) schemes, as the opportunity presents a “new Beveridge” for pensions, the Work and Pensions Committee has said
Posted: 17/07/2018
The most popular defined contribution investment funds chosen by members who actively invest have beaten default strategy returns by 4.75 per cent over the last five years, it has been found
Posted: 13/07/2018
The government should halt its plans to switch off support for schemes trying to reconcile their Guaranteed Minimum Pension (GMP) records with those held by the State in October, Willis Towers Watson has argued
Posted: 12/07/2018
The good news for England fans is that our pension system is considerably better than our football team, or so analysis by Scottish Widows would have you believe
Posted: 11/07/2018
Pension funds could earn around 8 per cent a year undertaking a bank capital relief strategy, it has been said
Posted: 11/07/2018
An estimated 43 per cent of people think they will still be renting their home when they reach 70 years of age, Aegon has found
Posted: 09/07/2018
The pensions industry has expressed unanimous support for the new Pensions and Lifetime Savings Association (PLSA) report, hailing it as a “milestone” moment for the debate on pensions adequacy
Posted: 05/07/2018
BT Pension Scheme (BTPS) has completed the sale of its majority interest in Hermes Investment Management for £246m to US investment giant Federated Investors
Posted: 03/07/2018
More than one in four people think that they will still be working in some capacity once they reach 70, according to Aegon
Posted: 02/07/2018
The government should consider ‘decoupling’ the tax-free lump sum a person can withdraw from their pension from other decisions relating to their pension
Posted: 28/06/2018
The FCA has recently estimated that 37 per cent of consumers could receive more retirement income from their pot every year by investing in a mix of assets rather than cash, despite consumers welcoming the pension freedoms, in its consultation that accompanied the final report of the Retirement Outcomes Review
Posted: 28/06/2018
Thousands of people in drawdown are not adjusting their pension income levels to account for market volatility, leading to the fear of draining their retirement fund too quickly, warned the latest research from Zurich
Posted: 27/06/2018
A new report compiled by the Association of Independent Professionals and the Self-Employed (IPSE) has urged the government to dismiss the idea of auto-enrolling self-employed workers
Posted: 27/06/2018
A new code to combat pension scams has been published, providing a good practice guide for trustees, providers and administrators
Posted: 25/06/2018
Royal London pension customers can now access a range of sustainable funds managed by Royal London Asset Management at no extra cost through their workplace and individual pension plans
Posted: 25/06/2018
The administrators of a master trust failed to report the fact that they had not collected or invested nearly £900,000 of pension contributions on behalf of their members
Posted: 22/06/2018
The vast majority of these are likely to be people quitting guaranteed defined benefit schemes in favour of more flexible defined contribution plans
Posted: 21/06/2018
A trustee of the Optimum Retirement Benefits Plan has been suspended by The Pensions Regulator after police launched an investigation into pension fraud
Posted: 20/06/2018
Almost half, 48 per cent, of final salary pension holders have voiced their interest in releasing equity in their home to boost their retirement savings, while 27 per cent of personal pension savers would do the same, Hoxton Capital Management has found
Posted: 20/06/2018
Two million defined contribution savers that received and read their annual statement said they did not understand it, according to the Financial Conduct Authority, with many savers displaying a vulnerability to financial harm
Posted: 20/06/2018
Nearly six in ten UK adults have no cash savings or savings of less than £5,000, according to the FCA’s recent Financial Lives Survey
Posted: 20/06/2018
The government is facing questions over how it will find the extra £20bn a year Prime Minister Theresa May has promised for the National Health Service.
The money is expected to come from a combination of increased government borrowing, freezing existing tax thresholds and higher taxes (assuming economic growth doesn’t vastly outstrip current expectations)
Posted: 18/06/2018
Almost one fifth of pension savers would opt for a “green pension”, with those under 30 twice as likely to choose the eco-friendly option than those over 50, PensionBee research has found
Posted: 14/06/2018
Just one in five of people who are approaching retirement age are saving enough to maintain their lifestyle, according to research by Aegon
Posted: 14/06/2018
Pensions Minister Guy Opperman has confirmed that the terminally ill are not permitted to access their state pension earlier than the set age
Posted: 14/06/2018
Men are over twice as likely to have their pensions reviewed by a financial advice firm, according to research by Selectapension
Posted: 13/06/2018
Defined benefit (DB) transfer values as measured by the Xafinity Punter Southall (XPS) Pensions Group Transfer Value Index fluctuated during May 2018, with an overall rise throughout the month
Posted: 12/06/2018
A recent Scottish Widows Retirement Report has suggested that those with multiple jobs are missing out on £90m of employer pension contributions because they do not meet the minimum wage threshold
Posted: 12/06/2018
A total of 77 per cent of advisers have said that they are spending more time and resources on the provision of retirement advice since the launch of the pension freedoms
Posted: 08/06/2018
Just 31 % of over 50s plan to consult a professional financial adviser for information on their retirement options, a significant fall from the 42% figure recorded last year, according to new research from Retirement Advantage
Posted: 08/06/2018
The majority of the pensions industry (71 per cent) are in favour of multiple pension dashboards, rather than a single dashboard, according to research by the Tax Incentivised Savings Association (TISA)
Posted: 07/06/2018
The number of under 30s saving enough for retirement has risen sharply by 9%, according to the 14th annual Scottish Widows Retirement Report, despite more than one in five young people still saving nothing for later life
Posted: 06/06/2018
The total amount saved in workplace pensions has increased £4.3bn to £90.3bn in 2017, new government data has revealed
Posted: 05/06/2018
In its response to the latest FCA consultation paper CP18/17 on DB transfers, Aegon has warned the FCA that its draft guidance on triage places ‘considerable limitations’ on its likely effectiveness, and is also calling for a more “creative approach” to focus on what can, rather than what cannot be done within guidance
Posted: 04/06/2018
The trustee of the Littlewoods Pensions Scheme has completed a £880m buy-in with Scottish Widows, it has been announced
Posted: 01/06/2018
FTSE 100 defined benefit pension schemes are “close to showing an aggregate surplus” for the first time a decade, while all DB schemes’ funding continues to improve, JLT Employee Benefits has noted
Posted: 01/06/2018
Anthony Philip James & Co (APJ) has issued over 30 lawsuits against self-invested personal pension provider, Liberty Sipp, in what is believed to be the largest number of claims against the pension firm
Posted: 30/05/2018
Aegon has recently found that 64% of people have more than one pension pot and, of that 64%, 22% have lost track of one or all of their pensions
Posted: 29/05/2018
Just Group is planning to “disrupt” the defined benefit transfer market with launch of its new business, Hub Pension Solutions
Posted: 24/05/2018
Four in five retirees using the new pension freedoms to manage their retirement savings face a potential ‘later-life financial crisis’ as they have not set up a Lasting Power of Attorney (LPA), warned a report recently published by Zurich
Posted: 23/05/2018
FTSE 100 pension schemes recorded their first year-end accounting surplus since the financial crash in 2007/08, however funding dangers still loom, LCP has reported
Posted: 23/05/2018
“Worryingly” low levels of savers are seeking financial advice when planning for retirement and making other financial decisions
Posted: 22/05/2018
Those over the age of 65 are expected to owe around £86bn by the end of 2018, according to figures from the Centre for Economics and Business Research (Cebr) and More 2 Life
Posted: 22/05/2018
A total of 90 per cent of pension schemes have recorded a rise in transfer value requests from members over the last 18 months, Aon has found
Posted: 18/05/2018
On average, 64 per cent of advisers are unable to understand the rules around expression of wish forms and beneficiaries’ drawdown options, Curtis Bank has found
Posted: 16/05/2018
The average person will have to save £260,000 over their lifetime to enjoy a basic income during retirement, whereas those not on the property ladder will need £445,000, according to former pensions minister Steve Webb
Posted: 16/05/2018
Pension transfer values fell slightly over April 2018, from £235,000 to £232,000, according to the Xafinity Transfer Value Index
Posted: 11/05/2018
A decline in the number of active and open defined benefit contribution pension schemes has continued, with 53% of final salary schemes closed to new members and 43% closed to future accrual, leaving just 4% open to new members, according to a survey conducted by Barnett Waddingham
Posted: 02/05/2018
A freedom of information request submitted by Retirement Advantage revealed the “full impact” of the lifetime allowance since it was introduced in the 2006/07 tax year, representing a 1000% increase in the total value of annual tax collected as a result of an individual’s pension exceeding the limit
Posted: 02/05/2018
A third of people using drawdown to fund their retirement have no investment experience, though two in five of those have not received financial advice or guidance, revealed new research from Zurich UK
Posted: 02/05/2018
Providers will have to contribute 25% of advisers’ Financial Services Compensation Scheme bills, the FCA has ruled.
Despite opposition from some providers, and some advisers arguing that providers should have to pay up to 75% in response to the FCA’s consultation, the regulator has decided to proceed with proposals for providers to cover a quarter of advisers’ funding requirement
Posted: 01/05/2018
The Department for Work and Pensions has published new guidance that is intended to assist trustees in complying with the new regulations involving bulk transfers
Posted: 30/04/2018
The Financial Guidance and Claims Bill is expected to pass through the House of Lords next week, Minister for Pensions and Financial Inclusion Guy Opperman has confirmed
Posted: 27/04/2018
Pensions Minister Guy Opperman has called for the support of the pensions industry to implement quicker defined contribution transfer periods
Posted: 27/04/2018
We could be years off of “nudging” pension savers towards making more informed financial decisions at retirement, according to Just Group director Stephen Lowe, as government has failed to legislate for default pension guidance
Posted: 26/04/2018
Approximately 85% of advisers feel that the number of SIPP operators in the market will “continue” to contract, according to a survey conducted by Dentons Pension Management
Posted: 26/04/2018
A total of 67 per cent, two thirds of pension professionals, have stated that the Department for Work and Pensions’ defined benefit white paper will leave members of DB pension schemes better protected in the future
Posted: 25/04/2018
The £500 tax-free employer-arranged pensions advice amount should be doubled to £1000, Aegon has argued
Posted: 25/04/2018
Two men have been jailed for their involvement in an “elaborate pensions scam” stealing almost £1m from their victims
Posted: 23/04/2018
The government has “no plans” to review its decision regarding the secondary annuity market, HM Treasury economic secretary John Glen has said
Posted: 23/04/2018
Collective defined contribution (CDC) pension schemes are either 10 years too early or 10 years too late, Aon Hewitt senior partner Kevin Wesbroom has said
Posted: 20/04/2018
Defined benefit transfers could cost companies £25bn due to members transferring out in order to access pension freedoms, according to Xafinity Punter Southall
Posted: 18/04/2018
A single flat-rate of tax relief could help boost self-employed pensions and see 75 per cent of pension savers better off, the Royal Society of Arts (RSA) has said
Posted: 18/04/2018
Pension experts have criticised HMRC for failing to remove a flawed tax relief calculator, despite being aware that it was providing consumers with incorrect advice
Posted: 18/04/2018
It is "not the right time" to implement a pot follows member system into UK pensions, Pensions Minister Guy Opperman has said
Posted: 17/04/2018
Only three of the top 17 master trusts offer pension tax relief to their lowest paid members, Hymans Robertson has revealed
Posted: 16/04/2018
Robo advice for pension members would work better in data rich “big scheme environments”, but has yet to see good solutions in the at-retirement space, Aon has said
Posted: 16/04/2018
Just one in seven (14%) of advisers feel that FAMR’s key measures are helping to close the advice gap, despite 33% agreeing that FAMR’s key measures are beneficial, according to research conducted by Aegon
Posted: 13/04/2018
Pension transfer values increased in March, mainly due to a drop in gilt yields over the month, Xafinity Punter Southall has reported
Posted: 12/04/2018
Demand for Selectapension’s defined benefit transfer value analysis (TVAS) tool has outstripped demand for its money purchase tool for the first time, according to the investment software firm
Posted: 11/04/2018
Women in drawdown face a 37% shortfall in their annual retirement income compared to men, resulting in them being over £47,000 worse off, according to report, Drawdown: Is it working for consumers?, from Zurich UK
Posted: 11/04/2018
The majority of defined benefit pension schemes have seen between 20-30 per cent of their non-pensioner members aged over 55 transfer out to access greater flexibilities, Willis Towers Watson has reported
Posted: 10/04/2018
The PPF has recently released its monthly funding update, illustrating that the aggregate deficit of the 5,588 schemes in the PPF 7800 Index is estimated to have increased over the course of the month to £115.6bn at the end of March 2018
Posted: 10/04/2018
One of the “biggest barriers” to changing governance and investment policy for defined benefit pension plans is the lack of financial resources, BlackRock has found
Posted: 09/04/2018
The Financial Conduct Authority has reiterated its warning to firms offering “unsuitable pensions advice”, saying it will “not hesitate to intervene”
Posted: 09/04/2018
Savers planning to make ad-hoc pension freedoms withdrawals in the new tax year could be overtaxed by £3,000 on a £10,000 payment, and have to either wait at least 12 months to get the money back or contact HMRC to ask them to return it
Posted: 09/04/2018
There remains “much food for thought” for sponsors, trustees and advisers of defined benefit pension schemes when setting funding plans, Pensions and Lifetime Savings Association head of governance and investment Joe Dabrowski has said
Posted: 06/04/2018
The FTSE 350 pension deficit has fallen by £4bn to £72bn in the first quarter of 2018, figures by Mercer show
Posted: 06/04/2018
The government should allow Nest to provide decumulation products in order to drive competition from other providers, the Work and Pensions Committee has said
Posted: 05/04/2018
The Work and Pensions Committee has called for pension providers to offer default decumulation pathways for its members
Posted: 05/04/2018
Six pension and finance companies, involved in the operation of occupational pension schemes, have been placed into provisional liquidation by the High Court
Posted: 04/04/2018
The official UK pension incomes, as published by HM Revenue and Customs show a “shocking disparity” between regions, Royal London has argued
Posted: 04/04/2018
UK private sector defined benefit pension scheme deficits were “largely unchanged” in the 12 months to March 2018, JLT Employee Benefits has found
Posted: 03/04/2018
The rising auto-enrolment contribution rates next week, and in April 2019, are not likely to prompt a “significant negative behavioural response”, Nest Insight has claimed
Posted: 29/03/2018
Over two in five, 42 per cent, of businesses state that their ability to recruit and retain staff has been improved by their pension scheme, it has been reported
Posted: 27/03/2018
HM Revenue & Customs has confirmed it will maintain the requirement for savers giving up
‘safeguarded’ benefits worth £30,000 or more when transferring to an overseas pension scheme to take regulated advice from a UK-based adviser
Posted: 27/03/2018
Scammers and criminals have been using a variety of “sophisticated” methods in order to con people over the age of 50 out of their savings. Retirement Advantage has warned that people need to be “wary of unsolicited approaches” by email, telephone, text messages or in writing
Posted: 27/03/2018
Those who choose to avoid raising pension contributions post April 2018 could potentially lose out on over £250,000 over the course of their working life, according to Fidelity International
Posted: 26/03/2018
Pension savers are losing thousands of pounds from their pension pots as a result of high investment charges on drawdown schemes
Posted: 26/03/2018
Forty per cent of default funds are still targeted to annuities, which could be leaving members exposed to “unintended investment risks”, according to Aon
Posted: 23/03/2018
Almost 30 per cent of eligible employees don’t understand or are unsure of the benefits of auto-enrolment, the Department for Work and Pensions has found
Posted: 23/03/2018
The newly proposed Pension Superfund that will consolidate the pension assets and liabilities of UK defined benefit schemes looks to offer an “affordable solution” for employers to fulfil pension promises
Posted: 22/03/2018
Around 700,000 more pensioners could be living in poverty in 2050 if the pensions triple lock is scrapped, a new report has revealed
Posted: 22/03/2018
The Financial Conduct Authority and The Pensions Regulator have revealed plans on how they will work together over the next decade, in a bid to tackle low levels of retirement saving
Posted: 21/03/2018
Over seven out of 10, 71 per cent, of defined contribution pension holders are unaware of the charges they are paying, the Financial Conduct Authority has found
Posted: 20/03/2018
The Department for Work and Pensions (DWP) is to launch a consultation this year on the legislative framework and authorisation regime to enable the establishment of commercial consolidation vehicles for DB schemes, its Protecting Defined Benefit Pension Schemes white paper has revealed
Posted: 20/03/2018
The government has dropped plans to allow defined benefit pension schemes to change their indexation, whilst highlighting the British Steel Pension Scheme's arrangement as an alternative “positive outcome”
Posted: 19/03/2018
The Department for Work and Pensions (DWP) has confirmed its intention to legislate to introduce a criminal offence against those found to have committed “wilful or reckless behaviour” in relation to a pension scheme
Posted: 19/03/2018
Defined benefit transfers will “come to a head when stockmarkets fall”, an expert on a roundtable of pension specialists has predicted
Posted: 16/03/2018
Workers on national average earnings will be contributing over 20 per cent of their disposable income under auto-enrolment by 2019, leaving millions of pension savers facing an affordability crisis
Posted: 15/03/2018
The minimum auto-enrolment increase to 5 per cent next month will not lead to large-scale opt-outs by members, according to Royal London
Posted: 13/03/2018
HM Treasury forecasts that it will benefit from an additional £5.1bn in a ‘bonus’ tax take by April 2019 as a result of the pension freedoms policy of 2015
Posted: 12/03/2018
Former Barclays staff have lost their fight to prevent the bank moving its past pension promises away from its core retail banking business
Posted: 12/03/2018
Total pension liabilities of the UK rose by just over £1trn, to £7.6trn, between 2010 and 2015, latest figures published by the ONS have shown
Posted: 07/03/2018
A pensions cold calling ban is to be put in place by June this year, as the government has tabled an amendment to the Financial Guidance and Claims Bill
Posted: 07/03/2018
The Pensions Regulator has appointed David Fairs as its executive director for regulatory policy, analysis and advice, effective July 2018
Posted: 06/03/2018
“Informed inertia” is required to ensure that members remain auto-enrolled up to and following the planned contribution rises this year and in 2019, Now Pensions director of policy Adrian Boulding has said
Posted: 06/03/2018
Defined benefit transfer values remained stable throughout February, rising by just £1,000, according to the Xafinity Transfer Value Index
Posted: 06/03/2018
Liberal Democrat pensions spokesman Stephen Lloyd has called for a ban on contingent charging for advice on pension transfers following the scandal surrounding the British Steel Pension Scheme (BSPS)
Posted: 05/03/2018
Trustees are using pension schemes’ funds to pay for independent financial advice for their members, it has emerged
Posted: 05/03/2018
An average defined contribution pension pot could grow by 30 per cent as the minimum auto-enrolment contribution rises to 5 per cent in April
Posted: 02/03/2018
The Post Office Limited Section of the Royal Mail Pension Plan has secured its defined benefit liabilities through a £450m bulk annuity transaction with Rothesay Life
Posted: 01/03/2018
The Minister for Pensions Guy Opperman has admitted that the April rise to auto-enrolment contributions is his “biggest hurdle” to implementing the government’s 2017 AE Review recommendations
Posted: 01/03/2018
Auto-enrolled members of workplace pension schemes have been largely “side-lined” out of investment decisions, with only one UK provider having a member on its board, it has been highlighted
Posted: 01/03/2018
The deficit of all UK private sector schemes has fallen by £75bn in the 12 months to 28 February 2018, JLT Employee Benefits has reported
Posted: 01/03/2018
From tomorrow, 1 March 2018, all pension providers offering an annuity option to scheme holders will be required to show a market comparison alongside their offer, allowing consumers to judge whether they are being offered the best package
Posted: 28/02/2018
The government is "pressing ahead to accelerate the state pension age" on a "flawed basis", Shadow Secretary of State for Work and Pensions Debbie Abrahams has said
Posted: 28/02/2018
Personal pension contributions hit a record high in 2016/17 with £24.6bn being paid into personal pensions – up from £24.3billion in 2015/16
Posted: 28/02/2018
The overall cost of tax relief rose only slightly from £38.5bn in 2015/16 to £38.6bn in 2016/17, representing a stabilisation after some large increases in previous years, according to latest figures
Posted: 28/02/2018
Annuity pricing for 2018 is set to remain attractive as it continues to deliver better yields than comparable low-risk assets for pensioner transactions, Aon has found
Posted: 27/02/2018
Many workers face a “pension lottery” when retiring, the TUC has warned
Posted: 27/02/2018
The founder of Retirement Income Alliance Malcolm Small has died at the age of 62
Posted: 26/02/2018
Former BHS owner Dominic Chappell has been told to pay £87,170 for breaching Section 72 notices under the 2004 Pensions Act, it has been revealed
Posted: 26/02/2018
UK master trust Now: Pensions has been put up for sale following continued administration problems, it has been revealed
Posted: 26/02/2018
The former financial director of Carillion, Richard Adams, "dumped" all of his shares in the outsourcing firm for £776,000, just a few months before its share price tanked, it has been revealed
Posted: 26/02/2018
Over 750,000 people nearing retirement are at risk of leaving their pension to the wrong person when they die, according to research carried out by Royal London, and those aged between 55 and 64 are most vulnerable
Posted: 26/02/2018
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