All Retirement articles – Page 10
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NewsCovid-19 pressures accelerate rate of DB scheme closures
On the go: Analysis by the Pensions Policy Institute, sponsored by the Trades Union Congress, has shown that the pressures of the coronavirus pandemic have accelerated the rate of defined benefit scheme closures, but member outcomes are far less reliable in defined contribution schemes.
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NewsOver-50s fear retirement poverty
On the go: Adults aged over 50 in the UK are worried about their financial future, with almost a third admitting to concerns that they will not have enough money to live off in later life, according to research by SunLife.
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NewsPoor choices under pension freedoms cost savers £2bn
Savers taking advantage of pension freedoms to cash out before retirement have suffered £2bn in lost returns, spurring calls for better financial education, according to analysis by LCP.
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NewsNearly a third of Gen Xers have inadequate pension savings
Almost one in three Generation Xers — individuals aged between 41 and 56 — have inadequate pension savings and face a minimum-at-best standard of living in retirement, according to research by the International Longevity Centre and Standard Life.
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NewsDesire for cryptocurrencies is ‘deeply concerning’
New research from CoreData has shown almost half of millennials, people aged between 25 and 40, want to invest at least part of their pension in cryptocurrencies such as bitcoin. Experts, however, have warned that cryptocurrencies remain a long way off being a viable investment option.
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NewsHymans warns over statement timescales as DWP consultation closes
On the go: As the Department for Work and Pensions closes its consultation on simpler annual benefit statements on Tuesday, investment consultancy Hymans Robertson has called for more time to implement the changes.
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NewsFour in 10 fail to check state pension forecast before retirement
On the go: Almost four in 10 people failed to check their state pension forecast before retirement, according to new research from retirement specialist Just Group.
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NewsSmart Pension platform raises £165m in funding
On the go: Smart, the platform provider behind master trust Smart Pension, has raised £165m in a funding round, with the goal to expand its business in different territories.
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NewsRushing DC consolidation could hurt member outcomes
The Department for Work and Pensions wants to speed up consolidation among schemes with less than £5bn in assets. Although the initiative was broadly welcomed, experts have warned that rushing its implementation could worsen member outcomes.
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NewsRailways scheme appoints L&G as flexible retirement solution provider
On the go: The £32bn Railways Pension Scheme has appointed Legal & General to provide members with access to a drawdown arrangement within its WorkSave Pension Mastertrust.
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NewsIndustry body partners with Smart Pension to offer AE to architects
On the go: The Royal Institute of British Architects has partnered with Smart Pension to create an auto-enrolment solution for RIBA’s architect practices, while moving its own defined contribution scheme to the master trust.
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NewsNest launches bulk transfers service for employers
On the go: Nest will be offering a “robust and efficient” bulk transfers service for UK employers, which will allow members’ abandoned pots to be automatically transferred to new ones
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NewsAon sells US businesses to complete merger with WTW
On the go: Aon has sold two US businesses in order to complete its merger with Willis Towers Watson, after concerns were raised by the US Department of Justice.
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NewsBMA calls for doctors to be exempt from pension age hike
On the go: The British Medical Association has called for NHS workers to be exempt from proposals to increase the minimum pension age to 57, saying the complex nature of pensions taxation means many need to retire before this age.
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NewsRegulators ask industry for help on improving pension saving
On the go: The Financial Conduct Authority and the Pensions Regulator have teamed up to investigate how people make decisions about their pensions at key points throughout their working lives, in order to better support savers through future regulation.
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NewsACA urges steps to fill guidance ‘black hole’
On the go: The Association of Consulting Actuaries has argued that fixing the “disjointed” and “fragmented” system that is UK pensions provision is vital if the full potential of pension freedoms is to be unlocked.
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NewsPPI launches UK pensions framework
On the go: The Pensions Policy Institute is launching a UK pensions framework, since “work and retirement landscapes are undergoing significant change around the world”.
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NewsPLSA calls for new legislation to support members at retirement
On the go: The Pensions and Lifetime Savings Association has called on the government to introduce legislation underpinning a new set of product, communication and governance standards to build on pension freedoms and provide greater support for savers at retirement.
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OpinionPolicy changes needed to avoid generations of pension inadequacy
Defined contribution pension schemes have taken over defined benefit plans as the main form of pension saving for the UK’s private sector.
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NewsGovt announces public service pension bill to implement McCloud
On the go: The government has announced a new bill intended to push ahead with the implementation of the McCloud remedy.