PENSIONS


There are 494 articles for the PENSIONS category

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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