All Office for National Statistics articles – Page 3
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News
Longevity swap investors warned over collateral calls
A spike in the UK mortality rate due to Covid-19 could raise concerns for defined benefit pension schemes that have implemented longevity hedging, as it could trigger collateral calls on their longevity swaps.
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RPI to drop 1% per year with proposed reform
The UK Statistics Authority is proposing to align the retail price index with the consumer price index including housing costs, which is expected to lower its annual rate by an average of 1 percentage point.
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Workplace pension numbers hit record high
On the go: The number of UK employees in workplace pension schemes reached a record high last year, but one provider giant has warned this is masking the millions still saving at “inadequate levels”.
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ONS: Life expectancy increases continue to stall
On the go: New data from the Office for National Statistics shows that life expectancy improvements continue to stall, which is expected to improve pension schemes liabilities.
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ONS: Life expectancy edges up
On the go: Life expectancy in the UK has resumed its gradual increase after appearing to flatline last year, according to the Office for National Statistics.
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Government signals an end to flawed RPI
On the go: The end may be nigh for the flawed retail price index of inflation, after the chancellor announced plans to consult on whether to align it with a version of the consumer price index between 2025 and 2030.
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ONS miscalculates RPI for March and June
On the go: The Office for National Statistics has made an error in the retail prices index, leaving the figures for March and June this year 0.1 percentage points adrift. The possible impact of the mistake on the stock market led to the ONS publishing a statement outside of trading hours late on Thursday.
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Falling healthy life expectancy for women pours fuel on SPA debate
On the go: Latest data on healthy life expectancy, published by the Office for National Statistics, have poured fuel on an already blazing debate about the recently increased age at which women can access their state pension.
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UK employees set to work until they drop
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.
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NewsSupreme Court: Barnardo's wording does not allow RPI/CPI switch
The Supreme Court’s rejection of an attempt by Barnardo’s to downgrade its pension increases is a reminder that courts are unlikely to bend rules to accommodate the commercial needs of defined benefit sponsors, according to legal experts.
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OpinionHow should schemes react to stagnating life expectancy?
Life expectancy in the UK has flatlined in the past two years. Is this a blip, or will we see a return to the fast improvements seen at the start of the century? Hugh Nolan, director at Spence & Partners, discusses how trustees can manage scheme funding despite this uncertainty.
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Government hands industry reins on dashboard project
Work and pensions secretary Esther McVey has said she "backs the industry" to deliver the pensions dashboard, but key details including whether the government will compel schemes to submit information remain unclear.
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Scam victims lose £91,000 on average
On the go: The Pensions Regulator and the Financial Conduct Authority have launched a joint media campaign to combat pension scams, amid the revelation that average losses from fraudulent and inappropriate inducements eclipsed the size of the average pension pot in the UK.
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OpinionIndustry must keep member confidence strong through slowdown
There are signs that the global economy is headed for a slowdown, argues Matt Tucker of Quantum Advisory, so schemes should prepare for the worst and ensure they keep members reassured of the value of their pension.
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OpinionWho pays for the pension shortfall?
From the blog: The gold-plated pensions generation owes it to the next to create an equitable and sustainable way of providing for income in retirement.
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FeaturesGo-Ahead pension scheme moves from RPI to CPI
Transport operator Go-Ahead has cut its pension liabilities by about £40m by changing the inflation measure used for its bus workers’ final salary scheme.
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ONS wealth survey: Pension inequality reducing but debt a worry
Pension wealth for UK households increased by 20 per cent in the past two years, according to the Office for National Statistics, but an increase in aggregate debt clouded good news for overall financial health.
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OpinionData Crunch: Why DC market measures are so confusing
Magnus Spence from research specialists Spence Johnson gives an update on the estimated size of the workplace defined contribution scheme market.
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News
Divorced women lose out on £5bn in pension payments each year
Scottish Widows research has found that divorced women are missing out on £5bn in pension payments each year, as experts highlight the need for women to take professional advice on pensions during the divorce process.
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Over-confident savers back property before pensions
Almost half of UK savers continue to believe that property is the best way of providing for retirement, according to a survey by the Office for National Statistics, which highlights the challenge facing government.