More Archive News

The Pensions Minister Guy Opperman has again rejected calls from Women Against Pensions Inequality campaigners for full compensation, saying it would create more inequality between men and women
15/12/17
A cross-party consensus is needed to progress with pensions reform and the development of auto-enrolment, members of the industry have said
15/12/17
Trinity Mirror has upped its pension scheme contributions by £8m to £44m a year over the next 10 years commencing in 2018
15/12/17
Eighty-eight per cent of defined contribution members remain in their default fund, according to the Pensions and Lifetime Savings Association.

Research from its 43rd Annual Survey 2017, which had responses from 176 members which had a variety of DC, defined benefit, master trust and Local Government Pension Schemes, represents over 6.5 million members and £526bn of assets
15/12/17
AJ Bell has seen its pre-tax profits grow by 29 per cent to £21.7m, boosted by demand for SIPPs
15/12/17
The Scottish government must provide “urgent clarification” on the effect its new tax rates will have on Scottish pension contributors
14/12/17
The Fire Brigades Union (FBU) and over 200 judges are in court this week fighting the government on what they claim is pension discrimination
14/12/17
Demand for annuities is likely to bounce back and could “double in size” over the next decade, according to Hargreaves Lansdown
14/12/17
The Pensions Regulator is holding meetings with master trust pension schemes as a way to gauge interest in the number of schemes that intend to apply for authorisation
14/12/17
UK bulk annuity transactions could reach a record level of £30bn in 2018, Aon has stated
14/12/17
Around 20,000 members of the British Steel Pension Scheme (BSPS) are not expected to reply to their options letter, meaning they will end up in the Pension Protection Fund, the trustee chairman Alan Johnston has said
13/12/17
The Pension Protection Fund has appointed Purna Bhudia as its head of credit
13/12/17
The directors of Active Wealth UK and Celtic Wealth Management have failed to attend a Work and Pensions Select Committee meeting regarding the British Steel Pension Scheme
13/12/17
Pirelli has completed a £100m buy-in with Pension Insurance Corporation plc (PIC) for three defined benefit schemes
13/12/17
Consumers must be “at the heart” of the pensions dashboard and there is growing evidence for the compulsion of data to ensure trust and confidence in the platform, Minister for Pensions and Financial Inclusion Guy Opperman has said
13/12/17
A working group for professional trustees has published a consultation that sets out new standards on what is expected of a professional trustee
13/12/17
Local authority pension funds have moved away from equities to bonds and alternative assets over the last decade, Sheffield Political Economy Research Institute has found
12/12/17
Members of the pensions industry, who attended the pensions dashboard stakeholder day, have praised the Department for Work and Pensions as it has displayed an approach that focuses on the consumer
12/12/17
The combined deficit of schemes in the PPF 7800 Index remained almost unchanged over November, falling just £0.1bn month-on-month
12/12/17
Polls are now open for the Pensions Age Personality of the Year Award 2018, so cast your vote to help ensure your favourite pensions personality goes home with the coveted trophy
12/12/17
The inflation rate rose to 3.1 per cent in November, up 0.1 per cent from October when rates were expected to peak
12/12/17
Labour leader Jeremy Corbyn is the latest MP to support calls for the Parliamentary Contributory Pension Fund’s divestment from oil, coal and gas companies
11/12/17
Expat pensioners have an income this Christmas which is worth 20 per cent less than the previous pre-Brexit festive period, according to Equiniti which manages the payment of over 60,000 expat pensioners
11/12/17
The trustee of the Merchant Navy Officers Pension Fund (MNOPF) has agreed a £490m buy-in transaction with Legal and General
11/12/17
Employees that are not being offered pensions advice from their employer are urging for them to do more, according to research from JLT Employee Benefits
11/12/17
The pensions industry has voiced its “widespread support” of the Work and Pensions Committee’s aims to integrate a cold-calling ban into the Financial Guidance and Claims Bill
11/12/17
The Pensions Regulator has revealed it is prosecuting a second company for failing to comply with its auto-enrolment duties
11/12/17
Transfer values remained stable over November, starting and ending on £232,000, Xafinity has found
11/12/17
The government should introduce a cold calling ban by June 2018, at the latest, by legislating for it in the Financial Guidance and Claims Bill, the Work and Pensions Committee has said
11/12/17
Business advisers continue to be vital to the success of automatic enrolment, according to research by The Pensions Regulator
08/12/17
British Airways has confirmed its decision to close the existing New Airways Pension Scheme (NAPS) and the British Airways Retirement Plan (BARP), to future accrual
08/12/17
Nearly half of 50-65-year olds are still unsure of how the pension freedoms will impact their retirement, according to Old Mutual Wealth research
08/12/17
The latest mandates and news in brief from the past week
08/12/17
Potential changes to the income tax bands in Scotland could cause “pension chaos” for 770,000 taxpayers in Scotland, according to AJ Bell
07/12/17
The Financial Conduct Authority has been accused of providing “insufficient support” to members of the British Steel Pension Scheme, as they face big decisions about their pension arrangements.

Addressing the House of Commons today, 7 December, Labour MP for Blaenau Gwent Nick Smith said...
07/12/17
The new master trust regulatory regime, which is expected to bring consolidation to the market, will lead to better member engagement in the future, according to one expert
07/12/17
Xafinity has announced its proposed acquisition of Punter Southall Holdings Limited for approximately £153m
07/12/17
Millennials are saving £400 more per year than their Generation X counterparts, but saving for retirement remains a low priority, according to the Pensions and Lifetime Savings Association and Close Brothers
07/12/17
The incorporation of robotics into the pensions industry is “an opportunity to be seized”, rather than dismissed, the Pensions Administration Standard Association has said
07/12/17
The interest rate liability hedging by UK pension funds in the third quarter of this year rose by 27 per cent, BMO Global Asset Management has reported
07/12/17
The Pension Protection Fund is to set its “lowest ever” levy estimate of £550m for 2018/19
07/12/17
Former Pensions Minister Richard Harrington has restated that the government’s position on the surplus sharing arrangement of the Mineworkers’ Pension Scheme has not changed
06/12/17
The government should abolish the £10,000 auto-enrolment earnings trigger, Trades Union Congress head of economic and social policy Kate Bell has said
06/12/17
The Labour Shadow Minister for Pensions Alex Cunningham has voiced his support for the introduction of collective defined contribution (CDC) schemes, noting it is a “better financial solution”
06/12/17
The shortlist for the 2018 Pensions Age Award has been revealed
06/12/17
The combined deficit of FTSE 350 defined benefit schemes has fallen to £64bn, according to latest figures released by Mercer
06/12/17
More than four in five military wives are failing to claim part of their state pensions, with the total loss estimated to be £480m, according to Royal London
06/12/17
A crackdown on excessive costs and charges of older workplace pension schemes, by the government and the Financial Conduct Authority has saved members £24bn over the past four years
06/12/17
The trustee of the British Steel Pension Scheme (BSPS) has said it will not be issuing second transfer quotations to members, but will instead extend the guarantee period for quotations to 26 January 2018
06/12/17
Pension fund investments face “severe risks” from climate change in both the short-term and long-term, according to the Pensions and Lifetime Savings Association
06/12/17
Future UK retirees will face the lowest replacement rate of all developed nations, according to the Organisation for Economic Cooperation and Development
05/12/17
Pensions Minister Guy Opperman has said the government has no plans to legislate to compel schemes to withdraw an integration arrangement, also known as a clawback scheme
05/12/17
Increased defined benefit funding has the potential to negatively impact the retirement income of today’s auto-enrolment generation, Hargreaves Lansdown has suggested
05/12/17
Almost half, 44 per cent, of adults aged over 55 accessing their pensions are making unsustainable withdrawals, AJ Bell has warned
05/12/17
Work and Pensions Committee chair Frank Field has blasted Palmer and Harvey as “highly irresponsible” for its decision to pay out £70m in dividends, when the company was enduring losses and a rising pension deficit
05/12/17
The average recovery plan length for UK defined benefit pension schemes has fallen to its lowest level since 2005/06, the Pension Protection Fund has reported
05/12/17
Toys R Us has become the subject of a Work and Pensions Committee investigation due to the company’s rising pension deficit, and concerns over the impact of a £585.5m loan write-off by the retailer on the pension scheme’s funding position
05/12/17
The British Airways pension schemes have temporarily suspended the provision of transfer values to active members, unless they are being requested for divorce purposes
04/12/17
The Work and Pensions Committee is to write to the trustees of the Palmer and Harvey (P&H) pension scheme, along with The Pensions Regulator, over the reported £80m ‘pensions black hole’ in light of the collapse of the group
04/12/17
Future accrual for FTSE 350 defined benefit schemes will likely stop by 2027 due to falling yields and pressure from The Pensions Regulator (TPR) to increase deficit contributions, according to a Hymans Robertson’s report
04/12/17
Flexibility and choice in the financial market can also become a “companion of complexity”, meaning the role of the financial adviser is today “more important than ever”, the Financial Conduct Authority's (FCA) director of supervision – investment, wholesale and specialists, Megan Butler has said
04/12/17
The Financial Conduct Authority (FCA) has emphasised the importance of whistleblowing in the advice market to pinpoint the provision of damaging pensions advice and scams
04/12/17
Defined benefit pension schemes must invest in growth in order to cut their deficits, according to the Institute of Chartered Accountants of Scotland (ICAS) president, Sir Brian Souter
04/12/17
The combined deficit of the FTSE 100 has hit £40bn, according to new figures released by JLT Employee Benefits
01/12/17
The latest mandates and news in brief from the past week
01/12/17
The industry should not view a slowdown in longevity improvement as a “long-term trend”, as the latest statistics from the Office for National Statistics still show life expectancies are rising, Royal London director of policy Steve Webb has warned
01/12/17
The pensions industry has welcomed the Department for Work and Pensions’ consultation on master trusts, but some have raised concerns about the proposed application fee
01/12/17
The Pensions Ombudsman and the Financial Ombudsman Service have updated a Memorandum of Understanding (MoU) to improve the exchange of information on complaints
01/12/17
The UK’s defined benefit deficit has increased by £40bn to £450bn at the end of November, according to new figures released by PwC’s Skyval Index
01/12/17
The Financial Conduct Authority (FCA) has commenced civil proceedings against Avacade Limited and Alexandra Associates Limited for providing “misleading statements” on pensions investments
30/11/17
Existing master trust defined contribution pension schemes may have to pay £67,000 in administration fees as part of their application for authorisation from The Pensions Regulator, new plans from the Department for Work and Pensions have revealed
30/11/17
The Work and Pensions Committee has called a special evidence session on the British Steel Pension Scheme (BSPS) as part of its inquiry into the pension freedoms, to be held on Wednesday 13 December
30/11/17
The full roll out of auto-enrolment will still leave 12 million workers excluded from the policy, leaving them to rely on the state pension and other benefits in retirement, a report by the Association of Consulting Actuaries (ACA) has warned
30/11/17
University staff starting work now could be as much as £200,000 worse off in retirement under the new proposals for the Universities Superannuation Scheme (USS)
30/11/17
Pension Insurance Corporation plc (PIC) has concluded a £725m full buy-in with the trustee of the Former Registered Dock Workers Pension Fund
30/11/17
Pension savers switching from defined benefit schemes to defined contribution schemes on a non-advised basis could be the “next mis-selling scandal”, Legal & General head of DC Client Solutions Simon Chinnery has warned
29/11/17
A lot of the framework in place for defined contribution schemes is “not fit for purpose”, Squire Patton Boggs pensions and investment fund partner Clifford Simms has said
29/11/17
The Financial Conduct Authority has issued a statement of objections to four asset management firms: Artemis Investment Management, Hargreave Hale, Newton Investment Management and River & Mercantile Asset Management
29/11/17
Next year is set to be a “milestone year” for the annuity market due to factors that have led to significant demand from schemes since August 2017, according to Aon
29/11/17
Thirty-eight per cent of people have never estimated what income they will need in retirement, according to new research by Aegon
29/11/17
Phoenix Life has announced it will offer selected customers with small annuity payments the chance to cash it in for a one-off lump sum
29/11/17
Higher earners are more likely to seek independent pensions advice as they approach retirement, according to a report by the Pensions Policy Institute (PPI)
28/11/17
The proposed changes to the Universities Superannuation Scheme (USS) would have “serious consequences” for affected universities, University of Warwick vice-chancellor, Professor Stuart Croft has urged
28/11/17
The average actively managed pension fund in the UK could save around £700,000 a year in fees through centralisation and standardisation of investment management, administration and trading functions, it has been claimed
28/11/17
Defined contribution pension schemes choose to use passively managed funds over actively managed funds based on the fact they are cheaper, it has been revealed
28/11/17
The poorest pensioners will see the smallest increase in their state pension payments, according to Royal London analysis of the government’s new rates, set to take effect from April 2018
28/11/17
Pension scheme trustees must consider the effects of climate risk across their portfolio, ClientEarth has warned
28/11/17
First Group has agreed to the consolidation of its pension schemes into one Local Government Pension Scheme, transferring £700m of assets
28/11/17
The Pensions Infrastructure Platform (PiP) is set to acquire a £400m portfolio of interests in 10 UK public-private partnership projects from Aberdeen UK Infrastructure Partners
27/11/17
The recent slowdown in longevity improvements is the new normal, according to 60 per cent of pension scheme trustees and sponsors, LCP has found
27/11/17
Pension plans across Europe are now displaying the “biggest investment shift” in the last decade with the return to long-term strategies, Amundi and Create have found
27/11/17
Pension schemes and trustees must obtain LEI numbers prior to the introduction of MiFID II next year, Sackers has highlighted
27/11/17
Tata Steel workers have been asked to decide on whether they would like to have their pension savings transferred into a default Pension Protection Fund scheme or a new arrangement
27/11/17
The Work and Pensions Committee has announced its plans to launch an inquiry into Collective Defined Contribution schemes.

The Committee's inquiry will consider the merits of CDCs, the role that they could play in the pensions landscape, the potential benefits to savers and the wider economy and the legislative and regulatory framework that would be required to successfully implement these schemes
24/11/17
News in brief from the past seven days...
24/11/17
Millions of pension savers are set to fall victim to the freezing of indexation allowance for corporation tax, as announced in the Autumn Budget, Royal London has highlighted
24/11/17
Royal Bank of Scotland Group Pension Fund member-nominated trustee Stephen Fallowell discusses the election process of MNTs
24/11/17
ACA chairman Bob Scott discusses the complexities and costs of advising DB transfers
23/11/17
Despite being introduced over two years ago, 29 per cent of baby boomers still do not understand the freedom and choice pension reforms, a report has revealed
23/11/17
The cost of public service pensions is forecast to grow by £3bn between 2020 and 2022, Budget documents have revealed
23/11/17
The government’s decision to bring forward a switch from RPI to CPI for business rates “reinforces the argument for DB schemes” to be allowed to switch the CPI, it has been claimed
23/11/17
The industry has reacted to today’s Budget announcements with relief at pensions largely being left untouched, tinged with disappointment at the lost opportunity to address pensions tax relief and intergenerational fairness
22/11/2017
Overseas pension funds are to be exempt from proposed tax changes to UK immovable property for non-residents of the UK
22/11/17
The state pension will rise in line with inflation in April 2018, the first time since the introduction of the triple lock policy, the Autumn Budget has confirmed
22/11/17
The increase in the personal tax allowance to £11,850 from 6 April 2018 may encourage people to continue saving into a pension once auto-enrolment contribution rates rise in April, Aegon head of pensions Kate Smith has said
22/11/2017
The lifetime allowance for pension savings will increase in line with CPI next April, the Budget has detailed
22/11/17
The Pensions Regulator is to clarify guidance on investments with long-term investments horizons, the Budget background documents have revealed
22/11/17
It is welcome news for many in the pensions industry as Chancellor Philip Hammond chose to leave pensions alone in his Budget announcement today
22/11/17
The number of enforcement cases opened by the FCA has more than doubled from 2014-17, from 105 to 230, showing an environment in which financial misconduct is met with much greater scrutiny and attention
21/11/17
Ahead of tomorrow's budget, Talya Misiri discusses industry's hopes for the lack of any shock announcements in the pensions sector
21/11/17
A survey of pension professionals has found a majority (55 per cent) rank geopolitical risk as the biggest short to medium term risk to the global economy
21/11/17
The Pensions Regulator has begun spot checks in the South of England to ensure employers are complying with their auto-enrolment pension duties
21/11/17
The pensions and life industry must abandon its “fragmented approach to regulation” and adapt to regulatory and technological change to avoid a potential retirement crisis, the Pensions Institute has warned
21/11/17
As the country and pensions industry prepares for the Budget on Wednesday, Pensions Age looks back at the top policy announcements from Budgets over the past few years
20/11/17
PLSA policy lead for engagement, EU and Regulation James Walsh considers how the industry can improve pension communications for members
20/11/17
Workers in the gig economy may lose out on over £180m of employer pension contributions annually, Now Pensions has highlighted
20/11/17
Staff at 50 of the largest and most well-known universities are to be balloted on strike action over plans to move university employees to a defined contribution scheme
17/11/17
Employers are being urged to read HM Revenue and Customs’ finalised guidance on VAT on pension scheme costs, as they may be able to maximise the VAT they can recover
17/11/17
News in brief and mandates from the past seven days
17/11/17
There are fresh warnings today of a Budget set to raid pensions tax relief, as the government faces a “triple whammy” of revenue shortfalls
17/11/17
PMI president Robert Branagh talks about the Budget rumours circulating the industry and the wishes of the Pensions Management Institute
17/11/17
Several voices in the pensions industry have raised their concern at reports of the Chancellor planning to shake-up pensions tax relief, by cutting tax relief for older people
16/11/17
The 0.75 per cent charge cap on default funds in auto-enrolment schemes will remain the same, Minister for Pensions and Financial Inclusion Guy Opperman has confirmed
16/11/17
The Financial Conduct Authority has been accused of being “complacent” over the lack of people taking financial advice when accessing their pensions
16/11/17
The government should reconsider the mandatory guidance proposal in the Financial Guidance and Claims Bill, AJ Bell has said
16/11/17
More than half (56 per cent) of institutional investors believe the ethnic composition of a board will be an important consideration when determining whether or not to invest in a company by 2022
16/11/17
The Berkshire Pension Fund is to join the Local Pensions Partnership, the Royal Borough of Windsor and Maidenhead has announced
16/11/17
The government has said legislation will be in place to ban cold calling before 2020
15/11/17
Several members of the pensions industry have predicted more cuts to the lifetime and annual allowance in the upcoming Budget
15/11/17
The pensions dashboard is to be launched before 2020, “without a shadow of a doubt”, Pensions Minister Guy Opperman has confirmed
15/11/17
A total of 805 defined benefit schemes in the UK are now using fiduciary managers, KPMG had found
15/11/17
Over two million over-50s in the UK are yet to commit to and take saving for their pension seriously, Aviva has found
15/11/17
Pensions Minister Guy Opperman has said the government is not in favour of introducing mandatory pensions guidance
15/11/17
The Independent Case Examiner’s Office declined to accept 275 complaints from women born in the 1950s and affected by changes to the state pension age as at 3 November 2017
15/11/17
Pension scheme trustees should work with employers and pension providers to develop best practice for better engaging scheme members with their pension investments and encouraging them to register on their pension platforms, in order to encourage more social impact investing
14/11/17
Urgent action is needed to ensure millions of over 50s do not end up with inadequate retirement savings due to unemployment and the rising state pension age, the Centre for Ageing Better has said
14/11/17
The Work and Pensions Committee will quiz Pensions Minister Guy Opperman on the pension freedoms tomorrow, 15 November
14/11/17
ARC Pensions Law senior partner Anna Rogers explains why HMRC shouldn’t intervene completely with individuals who had been contracted out of state pensions between 1978 – 1997
14/11/17
The continued inflation rate of 3 per cent in October, unchanged from September 2017, could affect auto-enrolment opt-out rates, according to Aegon head of pensions Kate Smith
14/11/17
The combined deficit of schemes in the PPF 7800 Index has dropped to £149.8bn over October, the Pension Protection Fund has revealed
14/11/17
The Pension Insurance Corporation has invested £115m on the acquisition of a 50 per cent share in Walney Extension Offshore Wind Farm Project
14/11/17
Nest has launched a consultation on proposed changes to the scheme’s rules, including contractual enrolment as a means of joining the scheme
13/11/17
Pensions Minister Guy Opperman has announced the government will be hosting a pensions dashboard stakeholder day in December
13/11/17
The number of unpaid contribution notices issued by The Pensions Regulator has increased by a 100 since the previous quarter of 2017, it has revealed
13/11/17
JT Dove has reduced its pension deficit by 11 per cent following a medical underwriting study to re-examine mortality calculations
13/11/17
Relaxed auto-enrolment arrangements, where employers adhere to the legal minimum, could lead to unintended consequences in the future, the industry has warned
13/11/17
Transfer values remained relatively stable over October, ending on £231,000, up £1,000 from the previous month, Xafinity has found
13/11/17
Bus company Stotts Tour and its managing director Alan Stott have been prosecuted by The Pensions Regulator for deliberately avoiding their auto-enrolment duties
13/11/17
The government has revealed it will publish draft legislation to ban pensions cold calling, including texts and emails, in early 2018
10/11/17
In light of Living Wage Week, Catherine Howarth reveals how pension funds can use their influence as shareholders to address challenges facing low-paid people
10/11/17
News in brief from the past seven days...
10/11/17
The introduction of the freedom and choice pension reformer were a “game changer” for the financial advice market, the Financial Conduct Authority’s director of policy David Geale has said
10/11/17
The Work and Pensions Committee has said that it will not be launching an inquiry into the collapse of the Atomic Energy Authority Technology (AEA Technology) pension scheme at this current point in time, Pensions Age has learnt
09/11/17
The current political uncertainty surrounding the government and Brexit means that big long-term issues, such as pension reform, are not being addressed, Liberal Democrat leader Vince Cable has said
09/11/17
Prudential Retirement has entered into its fifth longevity reinsurance transaction with Pension Insurance Corporation since 2015
09/11/17
The Financial Conduct Authority’s proposed new guidance on defined benefit transfers does not change an individual’s suitability for a transfer, Wingate Financial Planning chartered financial planner Alistair Cunningham has said
09/11/17
The government may abandon pensions tax relief once auto-enrolment is “accepted and well embedded”, a former Pensions Minister, Ros Altmann, has said
09/11/17
Employers should encourage younger employees to obtain pension and savings advice, Equiniti has suggested
08/11/17
Employer covenant risk is currently the largest risk for defined benefit pension schemes, it has been said
08/11/17
Two former pensions ministers have criticised the split of pensions between the Department for Work and Pensions and the Treasury
08/11/17
Pooling of defined contribution pension schemes’ assets could lead to better outcomes for members in retirement, the Pensions Policy Institute has said
08/11/17
Extending auto-enrolment to gig workers could boost pension pots by up to £75,000, Zurich has revealed
08/11/17
Prudential has initiated discussions regarding the four-way sale of its £10bn UK annuities book, it has been revealed
07/11/17
All firms providing pensions and retirement advice or marketing should use some form of cashflow modelling to protect from mis-selling, it has been suggested
07/11/17
The pensions industry should stop talking about the safe withdrawal rate of 4 per cent because there are so many other variables now in the equation to consider, it has been argued
07/11/17
Primark owner Associated British Foods reported a defined benefit pension scheme surplus of £126m for the year ending 16 September 2017
07/11/17
HM Revenue and Customs has failed to promote its amendments to VAT recovery for defined benefit pension schemes to employers, trustees and pension providers, it has been revealed.

While the HMRC has updated its internal guidance on DB scheme VAT recovery to its staff, this has not been shared with other parties, such as trustees and sponsoring employers who have been awaiting clarification regarding the HMRC’s policy
07/11/17
The Pensions Regulator has launched a review into whether trustees are carrying out adequate assessments of the costs and charges paid by members.

Justifying the review, the regulator said it believes many trustees of small and micro schemes may not be properly assessing value for members
06/11/17
A “more robust anti-avoidance regime”, as recommended by the Work and Pensions Committee, could have led to a better financial settlement for the Monarch scheme, Work and Pensions Committee chair Frank Field has said
06/11/17
Ministers must reconsider the rules around salary exchange for pensions to the benefit of low-paid workers, Royal London has said
06/11/17
News in brief from the past week
03/11/17
Pension savers could receive advice vouchers to encourage a greater uptake of advice prior to retirement, Royal London director of policy Steve Webb has proposed
03/11/17
The Pensions Archive Trust chairman Alan Herbert looks at why pension funds should consider archiving, citing confectioners archives as an example
03/11/17
FTSE 350 pension deficits fell by £1bn to the lowest level since before the Brexit vote, Mercer has revealed
03/11/17
We all know that contribution levels are critical to the outcomes from defined contribution pensions and the length of time we invest is another of the big factors. But what else matters?
02/11/17
The Bank of England’s Monetary Policy Committee has revealed it has increased interest rates to 0.5 per cent, up from 0.25 per cent
02/11/17
Just over three quarters (76 per cent) of advisers are worried about possible long-term compliance and regulatory challenges linked to robo-advice, while two out of three fear robo-advice solutions will not provide the best advice for clients, a nationwide survey has shown
02/11/17
BT’s defined benefit IAS 19 pension deficit decreased by £300m in quarter three of 2017, from £9.6bn to £9.3bn, gross of tax
02/11/17
HM Revenue and Customs has revealed that it repaid £37m between 1 July and 30 September 2017 to individuals that were overtaxed on their pension freedom withdrawals
01/11/17
Pension scheme members approaching retirement should be auto-enrolled into independent guidance before reaching retirement, former Pensions Minister Baroness Ros Altmann has said
01/11/17
Advisers can play a “vital role” in driving pensions engagement among millennials, Royal London has argued
01/11/17
Divorced women are losing out on around £5bn in pension payments each year, due to a failure to discuss pensions during divorce proceedings, Scottish Widows has found
01/11/17
The UK defined benefit deficit fell by £50bn at the end of October 2017, PwC has revealed
01/11/17
Retirement incomes are still 27 per cent lower than in the 2008 financial crisis, according to research by Moneyfacts
31/10/17
Registration is now open for Pensions Age's first Sustainability Summit, which brings together experts in the field of sustainable investment
31/10/17
ACA chairman Bob Scott discusses the difficulties defined benefit schemes are facing
31/10/17
The government must consider the Cridland Review’s proposal for an annual mid-career review and encourage retirement planning much earlier than it takes place presently, Legal & General has said
31/10/17
PPF director of restructuring & insolvency Malcolm Weir puts Regulated Apportionment Arrangements under the spotlight
31/10/17
Collective defined contribution pensions could be a reliable option to allow members to grow and protect their savings from being affected by extreme market fluctuations, the Trades Union Congress has suggested
30/10/17
The NHS Pension Scheme has made overpayments of almost £100m since 2012, Minister for Health Philip Dunne has revealed
30/10/17
Natural yield, whereby savers take only the income produced by their investments, is an “attractive” and “sustainable” way to draw down pension income, Hargreaves Lansdown has said
30/10/17
The deadline for submitting entries to the Pensions Age Awards 2018 has been extended to the 10 November 2017
30/10/17
Employees at Capita offices across the country have begun a nine day strike over the company’s plans to close its defined benefit pension scheme
30/10/17
The master trust market is expected to be worth £300m by 2026 compared to a value of around £20bn now, according to research by Hymans Robertson
30/10/17
A total of 93 per cent of pension savers have said that they felt more informed of their pension options following appointments with Pension Wise, a report has found
30/10/17
Age Scotland is urging the Scottish government to implement in-depth career and retirement planning advice, as 43 per cent of working adults are doubtful of their ability to retire when they reach the state pension age
27/10/17
A group of Hewlett Packard (HP) pensioners are asking the government to make a change in the law to close a legal loophole, which allows the company not to index link part of their pension to inflation
27/10/17
PMI technical consultant Tim Middleton discusses why it was inevitable that the government decided to bring the increases to the state pension age forward
27/10/17
The coming year could be the first year that sees more than £15bn of annuities written from final salary schemes, Aon Hewitt has suggested
27/10/17
The Financial Conduct Authority has published its final guidance on the methodology for calculating redress for those who were given unsuitable advice to transfer out of a defined benefit scheme
27/10/17
Defined benefit schemes’ trigger-based fund switching and portfolio rebalancing is set to increase as DB schemes mature and yield rates increase, Mobius Life has predicted
27/10/17
The number of over 85s is forecast to double from 1.6 million in 2016 to 3.2 million in 2041, figures from the Office for National Statistics have revealed
26/10/17
UK pension funds with a high exposure to BP and Shell continue to be at financial risk, because of vulnerabilities in the companies’ business models from threats posed by low-cost renewables, ShareAction has said
26/10/17
The top four British life assurers that have benefited the most from pension transfers are Standard Life Aberdeen, Royal London, Prudential and Aviva, Broadstone has revealed
26/10/17
The market value of the Local Government Pension Scheme in England and Wales grew by 21 per cent in 2016/17
26/10/17
The government has proposed plans for pension schemes to disclose costs and charges made to members for investing their pensions
26/10/17
The pensions dashboard should be a “safe, non-commercial” platform, isolated from scams and “aggressive marketing”, members of parliament have stated
25/10/17
A pensions cold-calling ban is currently “out of scope” in the Single Financial Guidance Bill, it has been indicated
25/10/17
The total annual pensioner income is forecast to reach £106bn by 2022, analysis by Experian has found
25/10/17
A quarter of advisers, 26 per cent, consider the upcoming pensions dashboards as an opportunity to provide advice to clients, Aegon has found
25/10/2017
Over £14bn has been withdrawn from pension pots since the launch of the pension freedoms in April 2015, data from HMRC has revealed
25/10/17
A total of 59 per cent of employers missed their auto-enrolment staging date in the first three months of 2017, Aviva has found
24/07/17
Six out of 10, 61 per cent, of employers think their members struggle to source advisers equipped to provide pension transfer advice
24/07/17
Savers should be auto-enrolled into pensions guidance to increase usage, particularly among vulnerable pension savers, according to Just
24/10/17
The Border to Coast Pensions Partnership (BCPP) has announced the appointment of Fiona Miller as chief operating officer, and has appointed two non-executive directors
24/10/17
Flexible drawdown pension transfers increased by £114m in Q2 2017 to £954m, despite continued political and market uncertainty, Equifax Touchstone has found
24/10/17
Members of the union for actors and performers, Equity, is calling on its pension provider Aviva to divert its default fund away from fossil fuels and move towards clean energy
23/10/17
The government must now legislate on the cold-calling ban and make pension transfer advice mandatory in the Financial Guidance and Claims Bill, former Pensions Minister Ros Altmann has said
23/10/17
The UK has fallen four places in the Melbourne Mercer Global Pension Index for 2017, but has seen its overall score on the Index improve slightly
23/10/17
The pensions gender gap has widened by 16 per cent in the last five years, Salisbury House Wealth has reported
23/10/17
HM Revenue and Customs must put an end to its “tax first, ask questions later” approach to taxing pension withdrawals under the pension freedoms legislation, Royal London has said
23/10/17
Ninety-seven per cent of Pension Wise customers would recommend the service to others, research by the Department for Work and Pensions has found
23/10/17
Nine out of 10, 90 per cent, of pension schemes are in favour of dashboards, with a view that it is beneficial for the development of the industry and consumers alike, ITM has found
23/10/17
Smiths Group pension schemes have completed their seventh bulk annuity transaction with Aon
20/10/17
Talya Misiri speaks to the PLSA chair Richard Butcher on the new role and his plans for the association
20/10/17
The Pensions and Lifetime Savings Association has indicated its intention to "broaden and deepen" its relationships with members
20/10/17
Pensions Minister Guy Opperman has announced his intention to deliver the results of the automatic-enrolment review, looking at coverage, engagement and contribution levels of the system, to Parliament during the week commencing 6 December
19/10/17
There is a strong need to revive the pensions and investments space, Minister for Pensions and Financial Inclusion Guy Opperman has said
19/10/17
Minister for Pensions and Financial Inclusion Guy Opperman has revealed that the Department for Work and Pensions has taken over leading the development of the pensions dashboard from the Treasury and Association of British Insurers
19/10/17
The revelation that the Department for Work and Pensions is to take over the development of the pensions dashboard from the Treasury and Association of British Insurers is a “huge step forward” that will “help bring people closer to their pensions”
19/10/17
Nearly half of schemes, 48 per cent, have not set an investment budget for its DC default fund, a PLSA audience poll has found
19/10/17
Ninety-three per cent of respondents do not try to measure the reading age of their scheme communications, an audience poll at the PLSA annual conference has found
19/10/17
The Church of England has confirmed that the chief executive of its pensions board Bernadette Kenny died earlier this week
19/10/17
Pensions Age chats to Pensions Minister Guy Opperman on being given the pensions brief and his interests outside of the world of pensions and politics...
19/10/17
The defined benefit white paper to be published by the Department for Work and Pensions will be the “last chance” to make changes to the sector, DWP director of private pensions and stewardship Charlotte Clark has said
19/10/17
University lecturers in the University and College Union (UCU) have voted in favour of industrial action to protect their pensions
19/10/17
Over £1bn has been lost to pension scams, Pension Liberation Group chair Margaret Snowdon has predicted
19/10/17
The Pensions Regulator has admitted to issuing a section 231 warning notice to an unnamed pension scheme, the first time it has used this power
19/10/17
Government-backed implementation of auto-escalation of defined contribution pension contributions is key to the long-term success of auto-enrolment, it has been argued
19/10/17
The Pensions Protection Fund has launched a consultation relating to contingent assets in the PPF levy
19/10/17
The Pensions and Lifetime Savings Association has been warned against using a retirement income target (Rit) that is described as comfortable
19/10/17
The industry needs to have a debate on auto-enrolment contributions and whether it is right that they are skewed so that the employee pays more
18/10/17
The Financial Conduct Authority's Financial Lives survey should act as a “wake-up call” for UK workers and the pensions sector, Now: Pensions has said
18/10/17
Increasing the retirement age is not a solution for advanced longevity, it has been claimed
18/10/17
The Pensions and Lifetime Savings Association is to ask members to vote to scrap its original Constitution and instead create new Articles of Association, in a bid to simplify its governance processes
18/10/17
The FCA’s first Financial Lives Survey report has shown that the general UK population has a poor understanding of pension products and remains inadequately prepared for retirement five years after the introduction of auto-enrolment
18/10/17
ClientEarth has accused the Financial Reporting Council (FRC) of leaving investors in the dark over climate risk reporting, which could leave them doubting that annual reports provide a fair review of the companies they are invested in
18/10/17
The Pearson Pension Plan has purchased pensioner buy-in policies with both Aviva and Legal & General, totalling £1.2 billion
17/10/2017
Capita staff are to stage a nine-day strike after pensions talks between the company and the union Unite collapsed
17/10/2017
Auto-enrolment is having the “desired effect” in improving the financial preparedness of workers across the UK, Aegon has said
17/10/2017
Small and micro employers have embraced their auto-enrolment duties, noting the policy is “necessary”, “sensible”, and “easier to implement than first expected”
17/10/2017
One in eight people within 20 years of retirement who have an above average income have told Alliance Trust Savings that they don’t know how – or when –they will be able to afford to stop working
17/10/2017
A new report has found that UK employers are “not pulling their weight” when it comes to sharing pension contributions with their workers, in comparison to European countries with similar DC systems
17/10/2017
Hargreaves Lansdown has expressed fears that September’s CPI inflation rise, which will provide generous increases to pension funds across the board, will be used by the Chancellor to look for further Treasury revenue from retirement savers
17/10/2017
The UK’s Chancellor Philip Hammond is planning to introduce pension tax relief cuts in order to increase spending on the younger generation
16/10/17
One in five FTSE 100 defined benefit pension schemes are at risk of failure in stressed scenarios such as a potential economic downturn, it has been found
16/10/17
Pensions with Purpose products have been proposed to enable pension savers to make investments that are in line with their values
16/10/17
Pension Passport users are 10 times more likely to use Pension Wise when making retirement decisions, new research has revealed
16/10/17
The Pensions Regulator has introduced new online messaging in its effort to combat pension scams
16/10/17
A round-up of mandates and news in brief from the past week
13/10/17
Scottish Widows, part of Lloyds Banking Group (LBG), has acquired Zurich’s UK workplace pensions and savings business, it has announced
13/10/17
The latest triennial valuation of the Social Housing Pension Scheme will reveal a deficit of £1.5bn, up from £1.4bn in 2014, LCP analysis predicts
13/10/17
The Communication Workers Union has branded Royal Mail “deluded” following a decision by the High Court that ruled any strike before mediation procedures are complete would be “unlawful”.

The High Court has ruled that the contractual dispute resolution procedures under the Agenda for Growth must be followed before industrial action can take place
12/10/17
Royal Mail has won an injunction in the High Court to prevent next's week 48-hour strike over the closure of its pension scheme
12/10/17
Following shadow Chancellor John McDonnell's announcement at the Labour conference that wasteful PFI contracts would be brought back into the public sector under Labour, Trowers & Hamlins LLP partner Martin McFall looks at how the policy would impact employers in terms of pension provisioning for staff as well as the costs of unravelling PFI pension provisions
12/10/17
Savers in the worst performing defined contribution default funds could be missing out on up to £300,000 by the time they are 55, JLT Employee Benefits has found
12/10/17
It “makes sense” for closed defined contribution schemes to be consolidated, The Pensions Regulator (TPR) has suggested
12/10/2017
The update on the pensions dashboard today is an attempt by the Association of British Insurers to kick policymakers into action, it has been said
12/10/17
The Association of British Insurers has called on the government to legislate to make it compulsory for all pension schemes and providers to share data for the pensions dashboard
12/10/17
Work and Pensions Committee chair Frank Field has written to Pension Protection Fund chief executive Alan Rubenstein asking for information on the deal it did with Monarch Airlines in 2014
11/10/17
Women in their 40s and 50s have cited “Philip Green scenarios” as the reason for their lack of trust in pensions, it has been found
11/10/17
Several industry voices have welcomed the Pensions and Lifetime Savings Association’s proposal of introducing national retirement income targets to help savers understand what they need to be saving for retirement
11/10/17
The use and development of biometrics within pensions should be higher up on the trustee agenda, the Pensions Administration Standards Association has said
11/10/17
The Pensions and Lifetime Savings Association has proposed the UK introduces national retirement income targets, known as Rits, to help savers understand what they need to save
11/10/17
Almost half, 47 per cent, of advisers have seen a rise in insistent clients disagreeing with their defined benefit transfer recommendations, Momentum Pensions has revealed
11/10/17
Chancellor Philip Hammond may be forced to “chip away” at pensions tax relief in the upcoming Budget, following today’s news from the Office for Budget Responsibility that it has downgraded the UK’s productivity forecast
10/10/17
Now: Pensions has appointed Joanne Segars and Dalriada Trustees to its board of trustee directors
10/10/17
Scottish Widows has launched a digital service for workplace pension savers to enable them to easily access information about their pensions
10/10/17
The combined deficit of the schemes in the PPF 7800 deficit has dropped to £158bn over September, decreasing by £62.4bn from £220.4bn at the end of August
10/10/17
By 2030, over three million women will gain an average of £550 extra per year under the new state pension system, Under Secretary of State for Pensions and Financial Inclusion Guy Opperman has reiterated
09/10/17
Now: Pensions has announced it is increasing its monthly administration fee for auto-enrolled savers from April 2018, when contributions increase to 5 per cent
09/10/17
Over half, 57 per cent of millennials demand fossil fuel free pension investments, a survey has found
09/10/17
A group of Local Government Pension Schemes that pooled their assets to create the LGPS Access pool have saved £5m by consolidating their passive equity mandates
09/10/17
Around six in ten workers in hospitality and agriculture sectors are not paying into a pension, the Trades Union Congress has revealed
09/10/17
The Pension Insurance Corporation has concluded a c.£600m buy-in with the trustees of the Wolseley Group Retirement Benefits Plan
09/10/17
News in brief from the past week
06/10/17
Today marks the ‘state pension shortfall day’ whereby spending power of the average pensioner couple surpasses the full annual state pension, Just has highlighted
06/10/17
The Communication Workers Union has served notice on Royal Mail Group for a 48 hour strike over its long-running pensions dispute
06/10/17
Defined benefit transfer values fell sharply over September from £240,000 in the first week to £230,000 by the end of the month, Xafinity has revealed
05/10/17
Defined contribution default funds are not appropriate for all master trust members, the Pensions Policy Institute has said
05/10/17
The provision of pensions flexibility and choice can be “the companion of complexity”, the Financial Conduct Authority has highlighted
05/07/17
The FTSE 350 defined benefit deficit fell to its lowest month-end level since the start of 2017 and below that of April 2016 before the Brexit vote, Mercer has revealed
05/10/17
Royal Mail has stated that it is committed to further talks with its workers’ union, the Communication Workers Union to prevent industrial action and reach an agreement on its long-running pension dispute
04/10/17
The Pensions Administration Standards Association (PASA) has announced it is launching a voluntary mediation service to resolve the issues experienced by schemes during the transfer of administration services from one provider to another
04/10/17
Tobacco workers at Gallaher’s are “furious” over its parent company’s plans to close its final salary defined benefit scheme to future accrual
04/10/17
A total of 89.1 per cent of Royal Mail employees have voted in favour of strike action to “fight and protect” their pensions, it has been announced
04/10/17
Supermarket giant Tesco has increased its annual pension contributions to its defined benefit scheme by £15m a year following its latest triennial valuation, which revealed its deficit has increased by £250m
04/10/17
The Pensions Regulator’s first prosecution case against an employer that failed to comply with its auto-enrolment duties, is a “timely reminder” of the significance of workplace pensions, according to Burges Salmon
03/10/17
Less than half of defined benefit transfer recommendations were found to be suitable, the Financial Conduct Authority has reported
03/10/17
The defined benefit pension deficit of international marketing firm St Ives Group has dropped by £10m in the year to 28 July 2017
03/10/17
The extension of auto-enrolment in its current form would capture less than half of the 4.8 million self-employed people in the UK, the Pensions Policy Institute has noted
02/10/17
The UK will be facing a pension crisis by 2028, as the majority of Gen X approach retirement age without a pension pot that matches their cost of living
02/10/17
Women are underinvesting in pensions and investment products and have created a “gender financial security gap”, according to Pinsent Masons and The Fawcett Society
02/10/17
The total DB pension fund deficit for the FTSE 100 is back down below £50bn, says JLT Employee Benefits
02/10/17
Over 50s are showing a “resilience and a thirst” for new opportunities in retirement, according to research by Retirement Advantage
02/10/17
Labour’s Jeremy Corbyn is the most trusted party leader to safeguard people’s retirement through political reform, research by the Pensions Management Institute has found
02/10/17
Baroness Ros Altmann, a former Pensions Minister, has urged the industry to be more positive about what people are saving for retirement rather than berating them for not saving enough
29/09/17
The Department for Work and Pensions could lower the auto-enrolment age limit to 16 in its UK retirement savings review, it has been revealed
29/09/17
From 1 October – the fifth anniversary of automatic enrolment – start-up businesses will be legally required to put staff straight into a workplace pension as soon as they employ them,The Pensions Regulator has announced
29/09/17
New figures released by PwC’s Skyval Index have shown that the UK's defined benefit (DB) deficit has remained at £460bn at the end of September
29/09/17
Carillion is to water down its pension benefit increases and withdraw discretionary pension fund payments in an attempt to get a grip on its struggling finances
29/09/17
IBM has succeeded in its legal battle against members of its pension scheme as they have decided there is “little merit” in appealing a decision that ruled in favour of the multinational technology company
29/09/17
Membership of occupational pension schemes in the UK reached 39.2 million in 2016, according to the Office for National Statistics
28/09/17
Almost seven out of 10, 69 per cent, of employees consider employer pension contributions as an important benefit when looking for a new job, The People’s Pension has found
28/09/17
The PLSA’s proposal to consolidate weaker defined benefit pension schemes into a superfund “creates a moral hazard”, it has been said
28/09/17
Employees’ reluctance to take pensions advice before accessing their pension pots is due to a lack of understanding of what advice is, and not just costs, Wealth at Work has claimed
28/09/17
Three quarters of advisers believe that UK savers are not tackling their long-term financial planning early enough, saying that it is the biggest threat to people’s financial security in retirement
27/09/17
The Pension Protection Fund (PPF) has set its levy estimate at £550 million for 2018/19 – 10 per cent lower than the £615 million levy for 2017/18
27/09/17
The Pensions and Lifetime Savings Association has proposed an overhaul of defined benefit pension scheme processes to improve schemes facing the challenges of underfunding, weak employer covenants and lack of scale
27/09/17
Standard Life and Scottish Widows have completed the industry's first two automated bulk transfers of occupational pension schemes
27/09/17
Savers who are considering accessing their pension money should be automatically enrolled into a free Pension Wise guidance session, Just has said
27/09/17
Over a third of auto-enrolled savers who are only paying the minimum one per cent contribution into their schemes expect it to provide them with a comfortable or secure retirement, according to NOW: Pensions
27/09/17
One in five over-50s workers are having to work for longer and sacrifice some of their retirement saving plans to meet the financial needs of their parents and children, according to a new report from Aviva
27/09/17
The Pensions Regulator (TPR)’s actions are to be ‘clearer, quicker and tougher’ on trustees, in a departure from its previous approach of ‘educating, enabling and enforcing’, it has confirmed
26/06/2017
A petition has been launched which asks for the equalisation of survivor benefits for widows and widowers of members in the Teachers Pension Scheme
26/09/17
The proportion of eligible private sector employees who save into a workplace pension has increased by more than a third from 42 per cent to 73 per cent, since the introduction of auto-enrolment, prompting the Pensions and Lifetime Savings Association (PLSA) to call it a “huge success story”
26/09/17
The Cabinet Office has selected Legal & General as a single provider for the civil service defined contribution pension schemes
26/09/17
Labour’s plan to allow 1950s born women affected by the increase to their state pension age to take their pension two years earlier, has been described as playing to the ‘pensions gallery’
25/09/17
A policy proposed by Labour that would mean women affected by the state pension increases could retire two years earlier, has been rejected by the Women Against State Pension Inequality campaign group
25/09/17
BT has appealed to the High Court for permission to change the indexation for a section of its pension scheme, it has been revealed
25/09/17
A total of seven in 10 Brits in workplace pensions would like the government to introduce a compulsory contribution rate that will result in an adequate retirement income, BlackRock has found
25/09/17
Auto-enrolment hit a record high in 2016, with the number of policies reaching 7.5 million, an increase of 11 per cent on 2015, and equivalent to 725,000 policies, the Association of British Insurers has said
25/09/17
This year has seen continued improvements in bulk annuity pricing for a variety of transactions, Aon Hewitt has found
25/09/17
Transport for London’s decision not to renew taxi company Uber’s licence in London highlights the “growing societal concern around businesses governance structures and employment practices"
22/09/17
The Pensions and Lifetime Savings Association (PLSA) has raised concerns about how the FCA wants information on DB transfers presented to scheme members
22/09/17
Considering the lack of understanding of pensions among those approaching retirement, “pensions as we understand them are finished,” Centre for Policy Studies research fellow Michael Johnson has claimed.

Speaking at the Barnett Waddingham DC Snapshot conference, Johnson outlined a proposal for a single savings product and an overhaul of the current pensions system
22/09/17
The industry has been told not to get carried away with “the small successes of auto-enrolment” and instead focus on “the work that still needs to be done”
22/09/17
The Pensions Regulator needs to focus more on inputs and less on outputs, PTL managing director Richard Butcher has said
22/09/17
The Competition and Markets Authority has published an issues statement detailing its intentions for its inquiry into the investment consultant market
21/09/17
The Financial Conduct Authority has said it would like to work with the government and other trade bodies as part of its next step to tackle issues surrounding an ageing population and financial services
21/09/17
Work and Pensions Committee chair Frank Field has pressed The Pensions Regulator on the assurances and protections in place for the new British Steel Pension Scheme
21/09/17
The pensions industry will act as the “servant and not the master” of the pension process under a Labour government, shadow Pensions Minister Alex Cunningham has said
21/09/17
The Labour Party has pledged its commitment to keep defined benefit pensions for the public sector
21/09/17
The Work and Pensions Select Committee’s inquiry into the pension freedoms policy is well-timed and appropriate, the industry has said
21/09/17
The government has received almost £6.5bn from two pension schemes for the mining industry since 1994, when it agreed a surplus sharing arrangement
20/09/17
Consultations are underway over a new defined contribution scheme for British Airways staff, it has been revealed
20/09/17
Asset managers of defined contribution schemes will now be required to disclose information on transaction costs and administration when requested by their governance bodies, the Financial Conduct Authority has confirmed
20/09/17
Pensions Age Jobs is pleased to announced that it has completed the purchase of the www.pensionsjobs.com web domain from the Pensions and Lifetime Savings Association
20/09/17
The Work and Pensions Committee has launched an inquiry into the pension freedoms policy to gauge whether change is required to protect savers from “unscrupulous scam artists”
20/09/2017
Natalie Tuck argues that despite the industry's best efforts, young people are never going to prioritise saving for retirement over things in the near future
20/09/17
The Pensions Regulator has banned three individuals from acting as scheme trustees over suspicions that they scammed investors out of millions of pounds by using inappropriate pension funds that they were trustees of.

Timothy Walker, Desmond Cheyne and Macalister Lindsay have all been banned by The Pensions Regulator (TPR) from acting as a trustee because of their links to the Milton and Carrick Harbour occupational pension schemes, which TPR says were used as vehicles to carry out pension liberation fraud
19/09/17
The Association of British Insurers has announced the appointment of Mario Mazzocchi as the new chair of its Long-Term Savings Committee
19/09/17
The government has committed to maintaining the Crown Guarantee on the BT Pension Scheme, even for members who will transfer to the new Openreach company
19/09/17
The majority of financial advisers feel that regulations are leading to too much caution when advising on DB to DC transfers, according to new research from Aegon
19/09/17
The Pension Insurance Corporation has completed a £60m investment in long-dated, senior secured debt, issued by the Yarlington Social Housing Group
19/09/17
Four out of five employers think minimum contributions under auto-enrolment should rise, according to a survey conducted by Hargreaves Lansdown
18/09/17
The chair of the Treasury Committee, Nicky Morgan, has written to the Chancellor to clarify how cross-border pensions and insurance contracts will be managed after Brexit
18/09/17
The Pensions Regulator (TPR) has launched a new campaign to drive up scheme governance standards – and threatened strong action against non-compliant trustee boards
18/09/17
Hybrid products, such as the sidecar savings model, could protect lower to moderate income savers from financial shocks, Nest has suggested
18/09/17
It is the right time for some “fresh thinking” to get the pension freedoms working for all, the Pensions and Lifetime Savings Association has said, in response to the Financial Conduct Authority’s Retirement outcomes review
15/09/17
There is a “huge gap” between the income retirees say they need to live on and the amount the average individual will receive, Retirement Advantage has found
15/09/17
Seventy-seven per cent of employers do not want to see any radical reform of the current pensions tax relief system, according to research by the Association of Consulting Actuaries
15/09/17
As the Pension Awareness Campaign draws to a close today, pension professionals speak to Pensions Age on the success of the campaign and the need to spread the pension saving message further
15/09/17
HMRC’s powers are to be extended to combat pension scams, it has been announced
14/09/17
The total accounting deficit of the John Lewis pension scheme has increased by £28.6m in the six months to 29 July 2017, its interim results have revealed
14/09/17
The MMC UK Pension Fund has completed the largest UK longevity hedge since 2014
14/09/17
The Transparency Task Force has described the Financial Conduct Authority’s decision to refer the investment consultancy market to the Competitions and Markets Authority as “momentous”
14/09/17
The Financial Conduct Authority (FCA) has referred the investment consultancy market on to the Competition and Markets Authority (CMA) using a Market Investigation Reference (MIR)
14/09/17
The Communication Workers Union has committed to the closure of three final salary pension schemes ahead of its triennial valuation in December 2017, Pensions Age has learned
14/09/17
The Pensions Regulator has confirmed in a report that it has ceased its anti-avoidance case against Nortel, following a settlement for its pension scheme members
13/09/17
A total of 70 per cent of advisers consider Brexit and broader political volatility as a key threat to the market, Aegon has revealed.

According to Aegon’s Adviser Attitudes Report, two in five, 40 per cent of advisers have voiced concerns that Brexit could hurt their business, while 70 per cent see Brexit and the broader political volatility as a considerable threat. Twenty one per cent, however, see Brexit as an opportunity
13/09/17
NOW: Pensions has confirmed its plan to make up the income tax relief shortfall for members of its scheme that aren’t tax payers
13/09/17
The state pension age would have already increased to 74 if it had kept up the same pace as life expectancy improvements, research from Hymans Robertson has revealed
13/09/17
British pensioners living in other European Union states will continue to receive state pension uplifts in line with changes made in the UK after Brexit, it has been noted
13/09/17
Opting for a flexible drawdown is dependent on individuals' lifestyle and risk appetite, it has been said
12/09/17
The Consumer Price Index rate of inflation increased 2.9 per cent in the 12 months to the end of August 2017
12/09/17
The Pension Insurance Corporation recorded new pension insurance business of £1.9bn of premiums in the six months to 30 June 2017, it has revealed
12/09/17
The aggregate deficit of the defined benefit schemes in the Pension Protection Fund’s 7800 Index increased by £40.3bn over August
12/09/17
Signs of potential scam activity have been found in one in 12 pension transfer requests, Xafinity has found
12/09/17
The British Steel Pension Scheme has now officially separated from Tata Steel UK and a number of affiliated firms
11/09/17
Employers must recognise that defined contribution default funds are “far from standardised” and so must monitor their progress, Punter Southall has said
11/09/17
Financial advisers need to prepare clients for the lifetime allowance increase coming into force in April 2018, Nucleus has said
11/09/17
There is an ongoing lack of fairness in the UK pension sector, research from the Society of Pension Professionals has found
11/09/17
Nest has increased its focus on environmental and corporate governance standards with £27.2m invested in companies that are transitioning to a low carbon economy
11/09/17
The role of the pension scheme administrator is key in risk settlement exercises, Aon has said
11/09/17
Annuity sales fell by 16 per cent in six months, while demand for drawdown continued to grow, the Financial Conduct Authority has reported
08/09/17
The confirmation of the reduced Money Purchase Annual Allowance in the Finance Bill is “unwelcome news”, the industry has said
08/09/17
The government has confirmed its plans to reduce the Money Purchase Annual Allowance and introduce an advice allowance in the new Finance Bill
08/09/17
The Pensions Regulator is to prosecute a bus firm in Greater Manchester for deliberately failing to comply with its auto-enrolment duties
08/09/17
The Pensions Quality Mark has announced the appointment of Gregg McClymont as its new chair
08/09/17
British Airways has announced its intention to close its main defined benefit pension scheme, the New Airways Pension Scheme (NAPS)
08/09/17
Pensions Age talks to Pension Geeks director Jonathan Bland about what to expect from the Pension Awareness Campaign tour, the importance of tailored communications and spreading the pension savings message
News in brief from the past week
08/09/17
Royal Bank of Scotland Group Pension Fund MNT Stephen Fallowell discusses attitudes towards risk and the risks of DB schemes
08/09/17
The government should allow older people to withdraw up to 10 per cent of their pension tax-free to fund new businesses, the Institute of Directors has suggested
07/09/17
The Plumbing & Mechanical Services Industry Pension Scheme has secured a £560m buy-in with Legal & General
07/09/17
Small to medium sized pension schemes have presented major gaps in the governance standards expected by The Pensions Regulator, it has been revealed.
According to two surveys on defined benefit and defined contribution schemes, commissioned by TPR to gage whether schemes are meeting governance expectations and to understand the barriers they face, small and medium schemes tended to display poorer standards
07/09/17
Defined benefit transfer values rose steadily by three per cent over August 2017, Xafinity has reported
07/09/17
Nine million people, almost a fifth of the UK adult population are not saving at all for retirement, Pension Geeks has found
07/09/17
One of the growing trends in pensions governance has been the use of professional trustees. PMI technical consultant Tim Middleton discusses the importance of regulation for these trustees
07/09/17
Workers at the Atomic Weapons Establishment have accepted “the best possible deal available” to resolve their long-running pensions dispute, according to workers union Unite
07/09/17
Around 90 per cent of pension professionals cite transparency of performance and risk when selecting a fiduciary provider, Aon Hewitt has found
09/06/17
August saw the largest monthly increase in FTSE 350 pension deficits in the year so far, with a rise of over £10bn, Mercer has revealed.
According to Mercer's Pensions Risk Survey, the accounting deficit of defined benefit pension schemes for the UK's 350 largest listed firms grew by £12bn from £71bn at the end of July to £83bn on 31 August 2017
06/09/17
The majority of workers in the UK are in the dark over recent chances to pension legislation, new research from online pension adviser Wealth Wizards has shown
06/09/17
The Communication Workers Union, representing Royal Mail staff, has announced its decision to launch a national industrial action ballot over the ongoing Royal Mail pension dispute
06/09/17
The Pensions and Lifetime Savings Association (PLSA) has said that The Pensions Regulator (TPR) should concentrate on making sure that the right people are appointed to trustee boards and committees, rather than focussing on simply ensuring that the right processes are in place
06/09/17
Developments in the retirement market have created new challenges for all customers; challenges that may be more pronounced for those who are potentially vulnerable. Association of British Insurers policy adviser Henry Thompson discusses how this can be addressed
06/09/17
There is no evidence that UK expats in European Union countries who are receiving the state pension are returning to the UK since the Brexit vote and negotiations, it has been noted
05/09/17
Pension savers can maintain their existing levels of saving by redirecting contributions into a spouse’s or child’s pension under the new Money Purchase Annual Allowance (MPAA) rules, Prudential has said
05/09/17
Growing speculation that Theresa May is considering lifting the seven-year long cap on public sector pay rises is bad news for pension savers, according to Malcolm McLean, a senior consultant at Barnett Waddingham
05/09/17
Talya Misiri explores the industry’s views as to how stagnant inflation rates will impact pensions and investments
05/09/17
Society of Pension Professionals Council member Darren Philp expresses the SPP’s views on the pensions dashboard and what needs to be done to ensure its success
05/09/17
Fraudulent pension websites are using anti-scam messages and regulatory content to trick consumers into believing their legitimacy, The Pensions Regulator has warned
04/09/17
The value of the world’s top 300 pension funds rose by 6.1 per cent in 2016, Willis Towers Watson has reported
04/09/17
The Pensions Regulator (TPR) has warned start-ups that less than a month remains until all new businesses will have to provide pension benefits for their staff
04/09/17
The Universities Superannuation Scheme has launched a consultation on raising member contributions to the higher education scheme by six to seven per cent
04/09/17
Increased productivity from new technologies in the workplace could be utilised to reverse planned increases to the state pension age, the Trades Union Congress has said.
According to the TUC’s new report Shaping Our Digital Future, the next technological revolution, including digitisation, robotics and artificial intelligence (AI), should be used to benefit working people’s lives
04/09/17
Adam Cadle reflects on over half a decade in the pensions industry
04/09/17
PLSA policy lead for engagement, EU and international James Walsh discusses the need for clearer pensions coimmunications and the FCA's consultation on transfers out of DC schemes
04/09/17
Annuity rates have fallen by almost 10 per cent in the last two years, it has been reported
01/09/17
Sir Philip Green has threatened Work and Pensions Select Committee chair Frank Field with legal action over the potential disclosure of documents relating to the £363m BHS pension deal.
According to Sky News, Green wrote a letter to Field on Thursday 31 August, in response to the chair’s claims on a recent radio interview that he is in possession of “a major leak” of papers with confidential information obtained by the regulator during its probe into BHS’ collapse
01/09/17
News in brief from the past week
01/09/17
The government-backed master trust scheme Nest has now reached the 400,000 employer mark, it has announced
01/09/17
The UK defined benefit deficit rose by £40bn in August following a £40bn decrease the previous month
01/09/17
Whitbread group pensions director Lesley Williams has confirmed her intention to retire from the role in 2018
31/08/17
The Employer Covenant Working Group has published a guidance paper on pension scheme transactions in distressed environments
31/08/17
The Department for Work and Pensions has launched a consultation regarding an anomaly involving Pension Protection Fund members receiving a bridging pension.
According to the department, the draft PPF Compensation Amendment Regulations 2017 would allow the PPF to “take account of bridging pensions by smoothing the amount of PPF compensation over the individual’s lifetime”
31/08/17
Around ten times your salary should be saved into your pension pot for a comfortable retirement, it has been claimed
31/08/17
The Pensions Regulator has begun spot checks in South Wales this week as part of its nationwide auto-enrolment enforcement campaign
30/08/17
Almost three quarters, 74 per cent, of people still make continued contributions to their workplace pension despite financial pressures such as debt, Aegon has found
30/08/17
The majority of the five million people with defined benefit pension rights are being deprived of timely information and advice about their pension choices, a recent report has revealed
29/08/17
A total of 84 per cent of pension funds are concerned about the pay gap in listed companies, the Pensions and Lifetime Savings Association has said
29/08/17
The pension liabilities of FTSE 100 firms soared by £95bn in the 12 months to 31 December 2016, JLT Employee Benefits has reported.

According to recent research by JLT, FTSE 100 pension scheme liabilities grew from £586bn to £681bn at the end of 2016, despite companies closing defined benefit schemes to new employees and increasing funding by more than £4bn
29/08/17
The government must clarify the link between the minimum age for pension freedoms and the increasing state pension age, Aegon has said
25/08/17
The Association of British Insurers has implied the pensions dashboard may not be rolled out to the public without a change in law, which makes the provision of data compulsory from providers and schemes
25/08/17
Trust in pension products is lower than consumers' trust of banking and energy companies, a survey by Which? has found
25/08/17
Now: Pensions CEO Morten Nilsson is to depart after six years in the role
25/08/17
News in brief from the past week.
25/08/17
The Canada Life Group has confirmed its intention to acquire financial services provider Retirement Advantage
25/08/17
Ninety per cent of parents believe that the pensions dashboard will encourage them to save more for their retirement, a survey by Mumsnet has found
25/08/17
Phoenix Group has announced its intention to “compete selectively” on accretive transactions in the bulk annuity market
24/08/17
Public service union Unison has voiced its concern with an informal consultation on housing group Calico’s potential exit from the Local Government Pension Scheme, it has been reported
24/08/17
Only 13 per cent of FTSE 350 boards are regularly considering the General Data Protection Regulation in their meetings, it has been revealed
23/08/17
The Communication Workers Union, representing BT employees has said that it is determined to keep the BT Pension Scheme open, despite new communications from the company
23/08/17
The Work and Pensions Committee chair Frank Field has launched a probe into the Universities Superannuation Scheme’s ballooning pension deficit
23/08/17
Three in four, 75 per cent, of millennials who have a pension would increase their contributions automatically in line with a pay rise, Royal London has found
23/08/17
Britain’s exit from the European Union could affect the state pension rights of citizens who have worked in other member states
22/08/17
Work and Pensions Committee chair Frank Field has accused The Pensions Regulator for prosecuting the ‘sprat’ rather than the ‘whale’ in the BHS scandal
22/08/17
Your next pensions career move is just a click away with Pensions Age’s pensions job site
22/08/17

Investment matters
Laura Blows talks to NEST CIO Mark Fawcett about managing market conditions and compiling the best fund choices for DC members

Latest News Headlines
Adam Cadle provides a summary of the big pensions stories to have hit the headlines this week
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