On the go: The aggregate deficit of the UK’s 5,588 pension schemes in the PPF 7800 Index has nearly tripled over October to £107.7bn at the month’s end, from a deficit of £38.7bn at the end of September 2018.
AE reaches nearly 10m workers, but gaps in coverage remain
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November 13, 2018
On the go: A record 9,937,000 workers have been auto-enrolled into a pension scheme since 2012 according to data from the Pensions Regulator’s monthly auto-enrolment compliance statistics released on November 13.
Half of today’s over-40s are retirement savvy
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November 13, 2018
On the go: Encouragingly, half of the over-40s in the UK have sufficient basic knowledge of the factors that may influence their later-life income to avoid the worst retirement pitfalls. However, one in 14 people are at high risk of making poor financial choices.
Transfer values rise as Brexit looms
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November 11, 2018
On the go: October has seen the biggest rise in defined benefit transfer values in over a year, with a growth of 3.6 per cent over the month.
Gig economy workers to get more rights
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November 9, 2018
On the go: More than 1m gig economy workers in such companies as Uber and Deliveroo may soon have more employment rights.
Treasury Committee scrutinises treatment of vulnerable customers
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November 9, 2018
On the go: The Treasury Select Committee has today launched a new inquiry into vulnerable consumers’ access to financial services.
TPR: Only one master trust authorisation in the pipeline so far
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November 9, 2018
On the go: Master trusts have been slow off the mark to obtain authorisation from the Pensions Regulator. They have a six-month window from 1 October to gain approval. Since then only one master trust has applied.
100 schools could close as a result of pension hike
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November 8, 2018
On the go: A massive rise in the employer contribution to the Teachers' Pension Scheme could lead to the closure of 100 prep schools, according to the special education website TES, which first warned of the approaching crisis for the independent schools sector last month.
FOS receives just 300 pensions transfer complaints
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November 8, 2018
On the go: Since the introduction of the pension freedoms in 2015, the Financial Ombudsman Service has received fewer than 15,000 complaints involving pensions. Of this figure, just 1,700 have been about pension freedoms and around 300 of these complaints were about defined benefit transfers.
New group set to bring in more transparency around charges
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November 8, 2018
On the go: An industry group has been set up to work on implementing, promoting and encouraging the use of new cost transparency templates across the pensions and investment industries, with the aim of encouraging more consistent disclosure of costs.