Latest articles from Sonia Rach

Royal London profits slump due to market volatility

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Royal London has posted a pre-tax loss of £228mn for the first half of the year due to falls in equity and bond markets.

MPs call NHS pensions ‘national scandal’ as doctors forced to leave

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On the go: The Health and Social Care Committee has called NHS pension arrangements “a national scandal” as senior doctors are being forced to reduce their hours or stop work entirely.

Scam warnings on DB transfers reach all-time high

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On the go: The number of scam warnings on defined benefit transfers is at an all-time high, despite a downward trend in transfer activity, XPS Pensions has said.

Opperman: Employers should provide ‘rainy-day fund’ to keep staff

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Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff. 

Rise in number of DB schemes appointing advisers to continue

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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.

Four in five DB transfer requests raise scam warning

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On the go: Four in five (83 per cent) defined benefit transfer requests have raised one or more warning flags, according to XPS Pensions Group.

Small pots group revisits pot-follows-member solution

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The small pots working group has come up with three recommendations to consolidate the large number of small defined contribution pension pots in the UK, one of which includes the pot-follows-member solution, which has been touted before.

Rise in ‘bogus self-employment’ will lead to old age poverty

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On the go: A rise in “bogus self-employment” means many individuals are missing out on employment benefits such as a pension, according to Jack Jones, policy and campaigns support officer at the Trades Union Congress.

DWP questions industry on Nest’s fund offering

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The Department for Work and Pensions is gathering views on support available to scheme members when making savings decisions, and is questioning the industry on whether Nest’s current offering is sufficient.

Auto-enrolled could accumulate £1.64mn pot over 70 years

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On the go: An individual auto-enrolled on the average wage could accumulate a pension pot of £1.64mn over 70 years, according to Hargreaves Lansdown.