All Retirement articles – Page 7
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NewsNumber of NHS workers claiming pension benefits hits record high
On the go: The number of NHS workers claiming their pension benefits reached an all-time high in April 2022, which Quilter has said suggests more people are deciding to retire.
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NewsIFS: Retirement spending increases between ages 62 and 80
Individuals aged 62 to 80 and couples typically spend more in retirement, dispelling the assumption that spending decreases in later life, according to research by the Institute for Fiscal Studies.
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NewsRailways scheme urges patience as it reviews early retirement
On the go: The Railways Pension Scheme is reviewing its early retirement factors and is advising members considering taking early retirement that they should wait until the review is completed before making their decision.
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NewsPLSA’s retirement living standards now cover 35mn members
On the go: Pension scheme communications from more than 100 organisations now provide up to 35mn members with access to the Pensions and Lifetime Savings Association’s retirement living standards, the industry body has announced.
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NewsHymans Robertson calls for AE credits to tackle gender gap
Hymans Robertson has called for the creation of auto-enrolment credits in a bid to tackle the gender pensions gap, which would see the government paying pension contributions for people taking career breaks.
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NewsOmbudsman fines Cabinet Office and civil service scheme admin
The Pensions Ombudsman has partly upheld a complaint against the Cabinet Office and MyCSP, the administrator of the Civil Service Pension Scheme, after they failed to properly process a member’s request to cease payments to his “added years contract”.
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NewsBMA issues stinging rebuke of ‘misleading’ NHS pensions claims
The British Medical Association has rebuked NHS England and NHS Improvement for what it calls “misleading” information about “punitive pensions taxation” and its impact on staff retention.
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NewsThird of schemes using GMP to improve member options
On the go: One-third of pension schemes are using the guaranteed minimum pensions equalisation process as an opportunity to improve member options, according to new research.
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NewsPolice Scotland warned of staff exodus after pension changes
Police Scotland is reportedly facing a staff exodus after changes to pension lump sum rules led 1,800 staff to query the size of the figure they will receive under the new system, with 400 having already decided to leave the service.
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NewsNew strike mandate at universities over USS pensions row
On the go: Staff at 27 universities have a mandate to take strike action over pensions that will last until October 2022, after the University and College Union secured the support of its members.
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NewsUSS and University of Southampton make AVC blunder
On the go: The Pensions Ombudsman has partially upheld a complaint against the University of Southampton and the Universities Superannuation Scheme trustee after a communication lapse saw a member continue to make annual voluntary contributions after her policy had ended.
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NewsOverpayment woes at Teachers’ Pension Scheme continue
The Pensions Ombudsman has partially upheld two more complaints about overpayments to members of the Teachers’ Pension Scheme, the latest in a series of cases where the scheme and its administrators, Teachers’ Pensions, have faced accusations of maladministration.
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NewsPASA covers crossovers, tax and death benefits in GMP guidance
On the go: The Pensions Administration and Standards Association has launched guidance tacking frequently asked questions around guaranteed minimum pension equalisation, including tax implications, death benefits, commutation, and the ‘look-back’ approach for crossover members.
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NewsActuaries call on govt to improve guidance and advice take-up
On the go: The Institute and Faculty of Actuaries is calling on the government and the pensions industry to improve guidance and financial advice take-up.
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NewsPublic sector scheme members get retirement calculator
On the go: The Government Actuary’s Department has released an online tool designed to help public sector scheme members better understand their options for benefits and retirement.
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OpinionThe future of pensions
Tumelo’s chief executive Georgia Stewart explains how a lack of financial education has led to poor understanding of pensions, and how stewardship can boost member engagement and increase individual savings.
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NewsGovt to compensate judges for additional McCloud tax bills
The Ministry of Justice has announced it will compensate judges who incur additional tax liabilities as a result of the immediate choice they will take later this year, while other departments left their proposals largely unchanged following consultations on phase one of the McCloud remedy.
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NewsOpperman slates lack of long-term vision in pensions, hints at reshuffle
Pensions minister Guy Opperman has suggested a reshuffle may be on the cards, and has criticised a perceived lack of long-term vision in the pensions industry.
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OpinionFixing shared parental leave policy can curve gender pensions gap
Interactive Investor’s Becky O’Connor argues that one of the main causes for the pensions gender gap is the shortcomings in policy for shared parental leave, and that policymakers have a role to play to improve women’s savings.
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NewsDC focus turns to member outcomes but retirement uncertainty remains
Data crunch: Despite almost half of defined contribution schemes now stating their main aim is to deliver adequate retirement income for members, 63 per cent do not know what is the expected outcome for a typical member at retirement, according to new research.