All State pension articles – Page 3
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NewsLGA calls for mandatory national insurance data in dashboards
The Local Government Association has argued that making national insurance numbers optional data will lead to a “poor experience” for pensions dashboards users, and has called for the government to make it a mandatory feature.
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NewsNearly half of lowest-income retirees are single women
On the go: Nearly half of retired households in the lowest-income group are made up of women living alone, official figures have shown.
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PodcastsPodcast: Trustees struggling to guide members on inflation benefits
Podcast: A report from XPS Pensions suggests that members could reap £10,000 additional benefits by delaying retirement because of the way increases and inflation are calculated, but trustees are struggling to help them because of the “red tape” around advice. LCP partner Laura Amin is joined by Hymans Robertson partner Patrick Bloomfield to discuss benefits’ inflation calculation and advice, concerns about defined benefit funding, and the women’s state pension age investigation.
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NewsOmbudsman to speed up state pension age investigation
On the go: The Parliamentary and Health Service Ombudsman is to adjust its approach to the remainder of its investigation into failures by the Department for Work and Pensions relating to changes to women’s state pension age, so it can “conclude the investigation as efficiently as possible”, having shared its preliminary views with interested parties.
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NewsGovernment resignations throw pensions into ‘turmoil’
Collapsing scenery in and around Downing Street has sparked fear in the pensions industry, as the resignation of pensions minister Guy Opperman brings important reforms to a halt.
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NewsOpperman blames Webb for state pension errors
On the go: Pensions minister Guy Opperman has blamed Sir Steve Webb for the litany of state pension failures the Department for Work and Pensions is now dealing with.
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NewsRise in number of DB schemes appointing advisers to continue
On the go: A growing number of defined benefit pension schemes are offering new benefits to members such as appointing a financial advice company, according to consultancy LCP.
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NewsState pension age increase doubles poverty rates for over-65s
On the go: The rise in the state pension age from 65 to 66 has doubled poverty rates for the age group, resulting in over-65s losing state pension income worth around £142 a week in 2020-21.
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NewsDWP to consider remedies after pension mispayments
On the go: The Department for Work and Pensions has said it is investigating remedies after millions of people have received the wrong pension for decades due to government IT failures.
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NewsState pension errors continue despite correction exercise
On the go: The Department for Work and Pensions has been accused of continuing to “wrongly” tell women they have no pension entitlement when, in some cases, they were due thousands each year.
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NewsAuto-enrolled could accumulate £1.64mn pot over 70 years
On the go: An individual auto-enrolled on the average wage could accumulate a pension pot of £1.64mn over 70 years, according to Hargreaves Lansdown.
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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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NewsCrisis-driven mortality increase to reduce scheme liabilities
On the go: An increase in mortality rates brought about by the coronavirus pandemic, pressures on the healthcare system, and the cost of living crisis could see schemes’ liabilities reduced by around 2 per cent in the coming years, according to analysis from LCP.
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NewsHSBC pensions ‘clawback’ resolution defeated at AGM
On the go: A resolution against so-called pensions “clawback” at HSBC was defeated at the bank’s annual meeting, with 94 per cent of votes cast against abolishing the practice.
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NewsUnite campaigners plan pensions clawback protest at HSBC AGM
Members of the Unite trade union will protest outside HSBC’s annual meeting, in the latest chapter of a long-running saga over employees’ pensions.
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NewsMaster trusts call for AE rate increase with opting down option
Pension specialists are calling for the government to introduce an opting down option when setting the next auto-enrolment minimum rate increase as a way of protecting those on lower earnings.
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NewsDWP makes six further state pension errors since 2007
On the go: The Department for Work and Pensions has made a series of state pension errors, prior to the current large-scale correction exercise, according to a Freedom of Information request.
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NewsWhat the Spring Statement means for pensions
The biggest rabbit to emerge from chancellor Rishi Sunak’s hat at this year’s Spring Statement was arguably his commitment to lowering the basic income tax rate from 20 per cent to 19 per cent from April 2024.
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NewsGovt pledges to honour triple lock for rest of this parliament
On the go: The state pension triple lock will be honoured for the remainder of this parliament, Thérèse Coffey has said.
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OpinionRoadmap to tackle the gender pensions gap
Prospect’s Sue Ferns proposes solutions to tackle the gender pensions gap ahead of the Work and Pensions Committee’s hearing on this topic, as she warns that more needs to be done by the government to tackle the issue.