All Retirement articles – Page 12
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NewsJudicial review could hold up public sector exit payment reform
The High Court is to hear challenges brought by a number of public sector unions to the £95,000 exit payment cap, after permission for a judicial review was granted late last year.
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NewsGovt opts for deferred choice underpin solution to McCloud
The government has confirmed it will opt for the deferred choice underpin solution to the McCloud problem, which despite being the right choice according to pensions specialists, will open the floodgates of administration woes for public sector schemes.
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Nine out of 10 DC savers expect retirement shortfall
On the go: Almost 90 per cent of defined contribution scheme members expect a shortfall in retirement income based on current provision, while almost a quarter of people think they will never be able to retire, according to the latest edition of Aon’s DC member survey.
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Call for ‘living pension’ to boost contribution levels
On the go: A living pension standard is needed to encourage employers to raise contribution rates and help workers enjoy a decent standard of living in retirement, a think-tank has suggested.
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Pension contributions plunge 11% as Covid crisis hits
On the go: Savers paid 11 per cent less into their defined contribution pension schemes as the coronavirus pandemic hit the UK, Office for National Statistics data shows.
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NewsAgeing LGPS hungry for income
Data Crunch:Ageing LGPS hungry for income How LGPS funds are dealing with the challenges posed by changing membership demographics Enterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg {position: absolute;width: 110%;height: 110%;top: -5%;left: -5%;z-index: -1;background-color: rgba(0,0,0,.8);}.sh_embed #embed_article {display: ...
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NewsSchemes to decide on dashboard data verification levels
Pension schemes and providers will be able to set up their own standards for individual data verification, which could lead to missing information on dashboards if pension funds opt for a risk-averse position.
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Coronavirus pandemic causes one in eight to delay retirement
On the go: The government’s anti-Covid lockdown strategy has forced one in eight people over the age of 55 to delay their retirement, according to new research from YouGov.
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NewsGreen pressured to save Arcadia pension schemes
On the go: Philip Green is being pressured to “make good” on promises to 10,000 members of the Arcadia pension scheme as his retail empire is on the brink of filing for administration, which would leave the scheme in the Pension Protection Fund.
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LGPS could face legal challenges over new exit payment cap
Local Government Pension Scheme administrators face potential legal challenges, after a new cap on exit payments from public sector schemes contradicting existing regulations came into force on Wednesday.
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Stephen Timms calls for annual guidance checks
On the go: Stephen Timms, chair of the Work and Pensions Committee, has submitted an amendment to the pension schemes bill that would see savers near retirement contacted each year until a guidance appointment has been made.
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SNP MPs table amendments to tackle Section 75 conundrum
On the go: Four Scottish National party MPs have tabled an amendment to the pension schemes bill in a bid to solve the problem of Section 75 debt falling due on small, unincorporated employers.
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Nest outlines small steps to close ‘gender pensions gap’
On the go: Opting in to a pension scheme at 18, understanding if the employer matches the worker’s contributions, and adding as little as an extra £2.50 a week to the pension pot are all ways of closing the gender pensions gap, according to a report from Nest.
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PLSA throws weight behind ESG and DC retirement initiatives
The Pensions and Lifetime Savings Association has made a string of recommendations to the government on environmental, social and governance investment issues, alongside a call to point retiring defined contribution members towards “preferred” products.
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DC contributions too small to allow for sustainable retirements
Stagnant incomes, rising wealth inherited later in life, and the relative poverty of defined contribution schemes compared with older defined benefit schemes are all factors that threaten the sustainability of retirement income, according to speakers at the Pensions and Lifetime Savings Association’s annual conference.
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OpinionMcCloud remedy: Are some public servants more equal than others?
I am a big fan of our public servants, and I am all in favour of them being treated fairly. But I am also a taxpayer with money purchase workplace pension benefits.
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OpinionGuidance needs stronger nudges to prevent future disaster
We are fond of a good nudge in this country.
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Over-50s alter retirement plans in response to Covid-19
On the go: One in eight older workers have changed their retirement plans due to the coronavirus, according to the Institute for Fiscal Studies, which warned that a third are now in a worse financial situation than they were in before.
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Redundant local civil servants face pension cut
Public sector members of the Local Government Pension Scheme aged above 55 who are made redundant and want to retire early will face a cut to their benefits, according to new rules proposed by the government.
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OpinionSchemes must prepare for a tsunami of admin requests
A perfect storm is brewing and schemes should start to prepare for significant rises in sponsor and member-driven requests this autumn.