All State pension age articles – Page 3
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NewsGovt to consult again on McCloud implementation in 2022
The Cabinet Office, Home Office, Department for Education and Ministry of Defence have each opened consultations into the first phase of the McCloud remedy, covering regulations that will see all legacy schemes close to future accrual from March 2022. However, new consultations on phase two of the remedy will be launched next year.
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NewsNine in 10 unsure of their pension entitlements
On the go: Nine in 10 people are unsure of what pension they are entitled to or whether they are receiving any pension contributions, according to new research from financial services comparison site Money.
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NewsBudget: Govt not expecting tax relief take-up and millions for McCloud
Pensions Expert’s roundup of the key figures from the Autumn Budget: the government assumes most people will not claim their net pay tax relief top-up, £10m has been set aside to help administer increasingly complex McCloud tax arrangements, and the Goodwin remedy could end up costing £3bn. However, savings have been made from the double lock and state pension overpayment revisions.
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PodcastsPodcast: No way to avoid the indexation ‘rules lottery’ as inflation bites
Podcast: High inflation will spur more schemes to look to switch from the retail price index to the consumer price index, but there is still no way around the “rules lottery”. Eversheds Sutherland partner Stuart Earle and Aon partner Lynda Whitney discuss inflation, the botched attempt to raise the normal minimum pension age, and a new value for money framework.
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NewsABI calls for govt to 'rethink' normal minimum pension age hike
The Association of British Insurers has called on the government to scrap its “complicated”, “arbitrary” and “confusing” plans to raise the normal minimum pension age “until something fit for purpose” has been developed.
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NewsSavers can have flexibility while staying in DB schemes, says LCP
On the go: Defined benefit members do not need to transfer out of their schemes to be able to gain more flexibility, as this can be achieved through a pensions increase exchange or a bridging pensions option, a new report from LCP claims.
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NewsOmbudsman criticises Aon, Willis Towers Watson over benefits error
The Pensions Ombudsman, Anthony Arter, has partially upheld a complaint against Aon and Willis Towers Watson over their handling of a benefits estimation error.
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NewsRaise retirement age to help UK recovery, says policymaker
On the go: Raising the retirement age could help the country recover post-Covid, a policymaker has suggested.
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NewsGovt to open new public sector scheme for judges in 2022
On the go: The Ministry of Justice has launched a consultation on creating a new public sector pension scheme for judges, which will address the issues caused by the McCloud judgment and allow the government to have a pensions-based solution for the whole judiciary.
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NewsDWP failed in communicating women’s state pension age changes
On the go: The Department for Work and Pensions failed in communicating changes to women’s state pension age, according to the Parliamentary and Health Service Ombudsman.
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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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OpinionPolicing police pensions
Royal London’s Moira Warner believes that transparency and clarity of communications are key in ensuring good outcomes regarding the introduction of transitional arrangements to police pensions.
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NewsPreliminary findings show govt failings on state pension age changes
On the go: Women born in the 1950s suffered delays of more than two years in being informed about rises in their state pension age due to government maladministration, according to preliminary findings by the Parliamentary and Health Service Ombudsman.
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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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