Young savers in the UK are in danger of being left in the lurch when it comes to retirement planning, a recent survey has shown, with experts mooting auto-escalation and better financial education as possible solutions to a looming crisis in the decades ahead.
Field and PPF concerned over Johnston Press deal
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November 23, 2018
Frank Field and the Pension Protection Fund have raised concerns over the Johnston Press rescue deal, which triggered a PPF assessment period for its defined benefit pension scheme.
600 Group completes buy-in ahead of scheme wind-up
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November 21, 2018
UK engineering company 600 Group has derisked its 2,800-member defined benefit pension scheme with a $270m (£210m) buy-in policy from the Pension Insurance Corporation before moving to full buyout next year.
ACA and Royal London call for radical simplification of DB rights
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November 20, 2018
Consumers and employers could reap substantial benefits if the complex patchwork of defined benefit pension rights could be radically simplified, according to a recent policy paper.
GMP ruling could see £50bn of buy-ins restructured
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November 16, 2018
On the go: Insurers are set to be deluged with a flood of requests to restructure buy-in contracts as a result of the High Court decision in the Lloyds Banking case, which held that guaranteed minimum pensions must be equal for men and women.
AE savings rate undershoots by 5 per cent a year, says Fidelity
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November 14, 2018
On the go: Workers in the UK need to save a total of 13 per cent of their annual household income from the age of 25 and aim to have seven times their annual household income saved by age 68, according to Fidelity International.
UK employees set to work until they drop
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November 13, 2018
On the go: The number of “early retirees” is at a 23-year low, according to latest employment figures from the Office for National Statistics, signalling that despite vestiges of ageism the older worker is in the ascendant.
UK pension scheme deficit triples over October to £107.7bn
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November 13, 2018
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.