Pensions minister Laura Trott has said pension schemes that are underperforming will need to act and either “improve, consolidate or exit the market”.

Pensions schemes will be required to disclose investment performance, net of all costs, as part of the new value for money framework.

On the go: The government has confirmed that auto-enrolment thresholds will be held at their current levels for the next year.

The Pensions Regulator has said savers must be supported during current economic volatility amid concerns the value of some defined contribution pots has fallen.

Retirees trying to achieve a basic standard of living will have seen their expenditure increase over the past year by almost 20 per cent due to high inflation, according to the Pensions and Lifetime Savings Association’s retirement living standards. 

On the go: The Financial Conduct Authority is to consider whether to increase compensation limits for certain pension claims.

On the go: The Parliamentary and Health Service Ombudsman has found evidence of “maladministration” in the Department for Work and Pensions’ communication about changes in women’s state pension and in its complaints handling.

On the go: More than 8.6mn people from “underpensioned” groups are missing out on workplace pension savings, according to a report by Now Pensions.

On the go: The Financial Conduct Authority has said that companies should provide British Steel Pension Scheme members with their redress calculation by the end of December 2023, if individuals opt to receive it as a lump sum.

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.