All Advice and guidance articles – Page 3
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NewsPension savers lose £1.7bn on retirement transition
On the go: Workplace pension scheme members are losing around £1.7bn a year during their transition into and in retirement, according to new research from master trust HSBC Tomorrow.
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OpinionRetirement outcomes: The buck stops where?
HUB Group chief marketing officer Stephen Lowe questions who is responsible for delivering better retirement outcomes for pension scheme members?
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NewsAE contributions not reaching those most in need
While many employers offer auto-enrolment contributions above the minimum rate, the workers that benefit are seldom those most in need, according to new research from Nest Insight.
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NewsInflation presents ‘considerable risk’ to DC pension pots
Skyrocketing inflation figures pose unique challenges for defined contribution pension schemes as memberships surge to record highs, according to the Pensions Policy Institute’s DC Future Book.
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NewsCovid-hit fiduciary management market gains 70% in 5 years
Although the UK fiduciary management market has risen by 11 per cent a year over the past five years, its growth is still below the previous period’s figures, with Covid-19 having an impact on selection processes in 2021, according to a survey by IC Select.
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NewsRise of DC poses risks and challenges for future pensioners
Increasing reliance on defined contribution savings means the requirements of future pensioners will be markedly different from those of previous generations, placing a greater emphasis on the need for communication and support, as well as on the role of annuities, a report from the Pensions Policy Institute has revealed.
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PodcastsPodcast: Trustees struggling to guide members on inflation benefits
Podcast: A report from XPS Pensions suggests that members could reap £10,000 additional benefits by delaying retirement because of the way increases and inflation are calculated, but trustees are struggling to help them because of the “red tape” around advice. LCP partner Laura Amin is joined by Hymans Robertson partner Patrick Bloomfield to discuss benefits’ inflation calculation and advice, concerns about defined benefit funding, and the women’s state pension age investigation.
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NewsNumber of savers opting out of pension schemes jumps by 29%
On the go: The number of people opting out of their workplace pension scheme has risen by 29 per cent between March and July this year, according to analysis by pensions provider Penfold.
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PodcastsPodcast: Schemes struggle to educate members amid cost of living crisis
Podcast: Members should be able to consider dipping into their pensions early to combat the cost of living crisis, but schemes may struggle to educate them about the best means of doing so without giving them advice. Society of Pensions Professionals president Steve Hitchiner is joined by AgeWage chief executive Henry Tapper, founder of the Pension Playpen, to discuss recession fears, consumer protection for dashboards, and expanding long-term asset funds.
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OpinionWhy are annuities making a comeback for pensioners?
With annuities being revamped, Guiide founder Kevin Hollister asks if a pension product that got so much hate could be enjoying a revival.
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NewsFCA failed to protect British Steel scheme members, MPs say
The Financial Conduct Authority had “inadequate oversight” of companies involved in the British Steel Pension Scheme transfer scandal and was “consistently behind the curve” when responding to issues, MPs have claimed.
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NewsPair of ‘advisers’ jailed over £20mn pension fraud
On the go: Two “advisers” who convinced hundreds of pension holders to transfer their pots into self-invested personal pensions, and then unknowingly put them into risky investments as part of a £20mn fraud, have been jailed.
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NewsRise in number of DB schemes appointing advisers to continue
On the go: A growing number of defined benefit pension schemes are offering new benefits to members such as appointing a financial advice company, according to consultancy LCP.
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NewsTrustees urged to include ESG factors in covenant assessment
On the go: Accounting for Sustainability and the Employer Covenant Practitioners Association have teamed up to launch a “top tips” guide for considering environmental, social and governance risk in the employer covenant process, hailed by the Pensions Regulator chair Sarah Smart as “an important first port of call for trustees”.
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NewsRetirement guidance is improving but decumulation challenges remain
On the go:Support available to those approaching retirement is improving, particularly in master trusts, but a comprehensive framework is still required to ensure all savers get the help they need, according to new research.
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NewsTimms lobbies for pensions inclusion in digital legislation
On the go: Work and Pensions Committee chair Stephen Timms has written to the minister of state for media, data and digital infrastructure calling for reassurance that the government will consider the issues of pensions advice and guidance as it updates its privacy and electronic communications legislation.
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NewsTimms demands changes to GMP factsheet after public’s criticism
Work and Pensions Committee chair Stephen Timms has written to the Department for Work and Pensions demanding that it update and properly publicise its “insufficient” factsheet on guaranteed minimum pensions compensation.
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PodcastsPodcast: Uncertainty around inflation leads to ‘casino pensions’
Podcast: High levels of volatility around inflation will force trustees to “take a bet” on the future, as it is very difficult — absent a crystal ball — to predict inflationary pressure and its impact on scheme liabilities, says Pension Playpen chief executive Steve Goddard. He is joined by Cardano managing director Emily Goodridge to discuss inflation, technology in pensions, and the future of environmental, social and governance disclosure.
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NewsOne in three employees want paid-for adviser pensions consultations
On the go: Nearly a third of employees believe they are being kept in the dark over their pensions by their employers, while a similar amount (28 per cent) want their employers to pay for meetings with advisers to discuss their concerns about their retirement savings.
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NewsThird of schemes using GMP to improve member options
On the go: One-third of pension schemes are using the guaranteed minimum pensions equalisation process as an opportunity to improve member options, according to new research.