More Archive News

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.

Speaking at the PLSA Annual Conference in Manchester, 19 October, Opperman said he was delighted to announce the DWP has taken over the lead
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
The Pensions Regulator has revealed its intention to prosecute former BHS owner Dominic Chappell for his failure to reveal requested documents during its investigation into the sale of BHS
22/08/17
Back-book annuity deals in the first half of 2017 have been significantly lower than those in 2016, Aon has reported
21/08/17
Luxury phone manufacturer, Vertu, will reportedly be able to pay off most of its £500,000 pension deficit as a result of its insolvency firm raising £2m from an auction of the company’s assets
21/08/17
Greater urgency is needed in the implementation of the cold calling ban, the industry has warned
21/08/17
The UK government has committed to introducing a ban on pensions cold calling
21/08/17
Natalie Tuck looks at why there are no Northern counties in the top five of the Prudential Quality of Retirement Index
18/08/17
Royal Mail Pensions Trustees Ltd’s CEO Chris Hogg is to join the National Grid
18/08/17
News in brief from the past week
18/07/17
The Pension Regulator’s anti-avoidance case against ITV’s Box Clever Pension Scheme is to be heard in the Upper Tribunal following a decision by the Court of Appeal to block the broadcaster's latest legal challenge.

ITV had wanted to appeal a decision which allows the regulator to introduce new evidence in its anti-avoidance case against the broadcaster when the case is heard in the Upper Tribunal
18/08/17
Missing information on the pensions dashboard may offer a “bad customer experience”, it has been suggested
18/08/17
A company director has been imprisoned for using his clients’ pension investments for his own “lavish lifestyle”
17/08/17
The Communication Workers Union has announced its decision to extend the deadline for Royal Mail to settle its pensions dispute to 6 September 2017
17/08/17
Royal London has revealed a strong performance across its pensions business, with its Royal London Group Pension Scheme moving out of deficit
17/08/17
Norwich department store owner Jarrold and Sons Ltd has completed a £19m buy-in with Aviva
17/08/17
There are “two camps” surrounding auto-enrolment pensions scheme contributions and the phasing of higher rates, Aegon head of pensions Kate Smith has said
17/08/17
Local Pensions Partnership has named Alan Schofield as non-executive director of the board
16/08/17
The majority of finance chiefs are in favour of transferring pension risk to an insurer due to the increasing costs and volatility of managing defined benefit pension plans, Prudential Financial has revealed
16/08/17
Investors, including pension funds, which voted against the high salaries of FTSE companies in 2016 have made an impact, the Investment Association has revealed
16/08/17
Annuity rates fell in Q2 2017 following two consecutive quarters of growth, Moneyfacts has reported
16/08/17
Following the launch of the pensions dashboard earlier this year, the Pensions Administration Standards Association (PASA) has outlined the current status of the project
15/08/17
The IPC Media Pension Scheme has appointed BlackRock as its fiduciary manager to look after assets of around £600m
15/08/17
An average total of 83 per cent of employees regard saving into a workplace pension as the norm, a recent survey has revealed
15/08/17
The Labour Party is to embark on a national tour campaigning against the Conservatives’ plan to increase the state pension age from 66 to 68 in 2037
15/08/17
Workers union Unite are urging Capita to rethink its pension proposals including the closure of the current defined benefit scheme
15/08/17
The Consumer Price Index rate of inflation stayed the same at 2.6 per cent throughout July, the Office for National Statistics has reported
15/08/17
Pension funds have been warned of the risks of poor standards of food safety, antibiotic use and environmental management in the Asian meat, dairy and seafood sector, which threatens investments
14/08/17
A “carriage clock retirement”, where people stop working and rely solely on their pension is no longer an option, with 52 per cent of UK expectant retirees anticipating that their financial situation will not support their desired lifestyle, The People’s Pension (TPP) has reported
14/08/17
Aberdeen Asset Management and Standard Life have today, 14 August 2017, completed their merger to form Standard Life Aberdeen
14/08/17
The agreement between The Pensions Regulator and Tata Steel of a Regulated Apportionment Arrangement for the British Steel Pension Scheme has led to calls for a rule change
11/08/17
The Pensions Regulator has announced it has given initial approval for a Regulated Apportionment Arrangement to allow Tata Steel to separate from the British Steel Pension Scheme
11/08/17
The Royal Mail Statutory Pension Scheme reported an increased total pension liability of £46.814bn to the year ending 31 March 2017
11/08/17
The latest mandates and news in brief from the last week...
11/08/17
With eight active providers in the buy-in and buyout market, there is currently the highest level of competition since 2008, Lane Clark & Peacock (LCP) has revealed
11/08/17
A collaborative industry approach, technology and improving documentation standards could improve the defined benefit transfer experience, Origo has said
10/08/17
Prudential UK & Europe has announced its decision to merge with M&G to form M&G Prudential
10/08/17
The defined benefit “crisis” is being “vastly overrated”, Quantum Advisory has argued
10/08/17
The Pensions Regulator has revealed a number of high profile employers who have failed to comply with their basic pension duties
10/08/17
SSE-affiliated schemes, the Scottish Hydro-Electric Pension Scheme (SHEPS) and the Scotia Gas Networks Pension Scheme (SGNPS) has completed a £1.2bn longevity risk hedge through two buy-ins and a longevity insurance transaction
10/08/17
The Pensions Regulator has today, 10 August 2017, unveiled its revised professional trustee description and a new monetary penalties policy
10/08/17
Member engagement can be “actively dangerous” for some, resulting in poor outcomes, The People’s Pension head of policy and market engagement Darren Philp has warned
09/08/2017
Existing cross-border pension and insurance contracts are at risk from Brexit, as companies may be left with a “stark choice” of either breaking the law or promises to customers due to Brexit, the Association of British Insurers has warned
09/08/17
The Pensions and Lifetime Savings Association, has today, 9 August 2017, announced the appointment of Chris Hogg and Carol Young as the new chairs of its defined benefit and defined contribution councils
09/08/17
The UK bulk annuity buy-in market is set to skyrocket over the next 15 years, Hymans Robertson has said
09/08/17
Pension trustees are working more days in a year but the overall average annual pay has decreased in the last two years, according to research by PwC.

Its latest biennial survey of pension scheme trustees, which surveyed 54 schemes with assets between £0.5bn and £5bn, found that the annual pay for the board chair, and chair committee, has reduced
09/08/17
Industry experts have been shunned for “destroying trust” in pensions, specifically regarding pension transfers since the introduction of the Freedom and Choice reforms
09/08/17
Plugging defined benefit scheme deficits with larger cash injections may not be an effective use of money by companies, research by Punter Southall has found
09/08/17
The title of this blog is in tribute to the many comments left by Facebook users in response to the prospect of living longer...
08/08/17
Total assets invested in Standard Life's drawdown propositions rose by 11 per cent to £18.2bn up from £16.4bn FY 2016 as more customers look to cash in on inflated DB transfer values
08/08/2017
Workers union Unite has called on the Royal Mail to provide a more detailed but simplified explanation of its pension proposal
08/08/17
The number of UK retirees receiving a private pension income has almost doubled from 45 per cent in 1977 to just under 80 per cent last year, the Office for National Statistics has revealed
08/08/17
A total of 97 per cent of companies are currently experiencing pension intertia within their workforce, LifeSight, Willis Towers Watson has found
08/08/17
The Regulated Apportionment Agreement (RAA) for the British Steel Pension Scheme (BSPS) is to be finalised “shortly”, Tata Steel has announced
08/08/17
The combined deficit of the schemes in the PPF 7800 has dropped £6bn over the month of July to £180.1bn, the Pension Protection Fund has revealed
08/08/17
The government is to introduce a new Data Protection Bill to bring the European Union’s General Data Protection Regulation (GDPR) into UK law, the Department for Digital, Culture, Media and Sport, Digital Minister Matt Hancock has announced
07/08/17
The Local Pension Partnership is reportedly considering spending £300m for a stake in Anglican Water
07/08/17
The number of divorcing couples seeking to divide their pension pots has increased by 43 per cent in the last year, law firm Collyer Bristow has reported
07/08/17
The UK’s FTSE 350 firms saw a £9bn reduction in their defined benefit pension deficits over July; sparked by an unexpected fall in inflation, Mercer has said
07/08/17
Barclays has not had an “easy ride” over a deal which has led to it reducing its contributions to its pension scheme, despite the deficit increasing by £1.9bn, the scheme’s chairman has said
Transfer values remained relatively stable during July, falling by less than one per cent, Xafinity has reported
07/08/17
The shortlist for the 2017 MoneyAge Awards has been announced
04/08/2017
The surplus of the Pearson UK defined benefit pension scheme has increased by £163m in the year to 30 June 2017
04/08/17
The government has suggested the pensions industry leads the way in helping defined contribution funds overcome barriers to investing in young innovative firms
04/08/17
Substantial numbers of baby boomers, especially lower and middle earners, are expecting to work past state pension age, while those who have experienced the most financial hardship throughout their lives are approaching retirement in poorer health and are the most likely to report that they are unable to save
03/08/2017
The Court of Appeal has overturned a judgment by the High Court and ruled in favour of IBM in a case concerning changes to the company’s pension schemes
03/08/17
The defined contribution pension pot of someone who remains in a default fund is almost 700 per cent smaller than someone who actively chooses their own investments, new research has found
03/08/17
The Pensions Management Institute has appointed Robert Branagh as its president, taking over from Kevin LeGrand who has served in the role since 2015
03/08/17
In the global, modern world that we live in, it is second nature for pension funds to spread their investments across a range of different assets, but this wasn't always the case. Natalie Tuck looks back at pension fund asset allocation over 50 years, and asks, what does the future hold
02/08/17
A lack of younger representatives on trustee boards pushes issues such as climate change into the future, ShareAction investor engagement manager Anne-Marie Williams has said
02/08/17
The total defined benefit pension deficit for BAE Systems has dropped to £5.9bn from £6.1bn at the end of 2016
02/08/17
The increased female SPA for women from 60 to 63 has already boosted government finances by £5.1bn a year, but has left 1.1 million women worse off by an average of £32 per week according to the Institute for Fiscal Studies
02/08/2017
Defined benefit pension liabilities have increased by 85 per cent over the last ten years reaching a staggering £625bn, according to a report by LCP.
02/08/17
The Employer Covenant Working Group (ECWG) has announced the election of Donald Fleming to chair the group with effect from 1 August 2017
02/08/17
Following in the footsteps of France, the British government announced last week its plans to ban the sale of new petrol and diesel cars from 2040. But how will this impact pension schemes?
01/08/17
New proposals designed to increase confidence for advisers and providers when dealing with insistent clients in the advice market have been published by the Financial Conduct Authority
01/08/2017
The scope of the investigation under the actuarial scheme in connection with the pension schemes of various companies within the Guinness Peat Group is to be extended to include the conduct of a further member, the FRC has said
01/08/2017
The combined deficit for UK defined benefit schemes fell by £40bn over the month of July, according to PwC’s Skyval Index
01/08/17
Raising tuition fees to help plug the Universities Superannuation Scheme’s £17.5bn deficit would “take intergenerational unfairness to a new level”
01/08/17
The Court of Appeal has ruled that a 1 per cent cap on pensionable pay introduced by the BBC did not breach its implied duty of trust and confidence
31/07/17
The Pensions Regulator used its formal powers, such as issuing compliance notices, unpaid contributions notices and penalty notices, in 69 per cent of its non-compliance cases, it has revealed
31/07/17
Chancellor Philip Hammond is reportedly eyeing up a cut to higher rate pensions tax relief as part of his plan to plug the country’s deficit
31/07/17
The IAS 19 accounting deficit for Trinity Mirror’s defined benefit pension schemes fell by £59.2m in the 26 weeks up to 2 July 2017
31/07/17
One in five pensioners now have the “misery” of having to submit an annual tax return, a Freedom of Information request has found
31/07/17
The board of Chelverton Equity Partners (CEPS) has announced it has transferred the Dinkie Heel Defined Benefit Pension Scheme from Davies Odell Limited to CEPS plc, with effect from 28 July 2017
31/07/17
Approximately 320,000 homeowners between the age of 51 and 65 are planning to access cash from their pensions to pay off their mortgage, research has found
31/07/17
Barclays defined benefit pension deficit increased by £1.9bn in the year to 30 September 2016, its latest triennial valuation has revealed
28/07/17
The medium disposable income of retired households’ income has increased by 14.9 per cent since the financial crisis in 2008, figures from the Office for National Statistics have revealed
28/07/17
Pricing in the bulk annuity market has continued to improve, despite some concerns over market capacity, Aon has said
28/07/17
Molins UK Pension Fund MNT director Steve Wickham gives his views on the Pensions Minister and how he is looking forward to attending more industry events upon his retirement
28/07/17
There was a lot in Secretary of State David Gauke’s recent speech to the Association of British Insurers about the need for continuity and consensus, for thinking about the kind of pension reform we all might like to see over the long term and how best we might be able to build that consensus going forward
28/07/17
Newly published statistics from HM Revenue and Customer that show it paid back over £26m of overpaid income tax to those who accessed their pensions have sparked outrage
27/07/17
Risks posed by cyber security and data protection are at the forefront of UK pension scheme concerns, according to research released today by national audit, tax and advisory firm Crowe Clark Whitehill
27/07/2017
The Pensions Regulator has fined the London Borough of Barnet Pension Fund £1,000 for failing to submit its 2016 scheme return
27/07/17
The Pensions Age Awards 2018 are now open to entries for all UK pension schemes or provider firms serving in the UK
27/07/17
Pensions Insurance Corporation has invested £60m in Red Kite Community Housing Limited, a regulated housing association based in High Wycombe
27/07/17
More than half of pension schemes are planning to re-evaluate their relationship with their investment consultant in the wake of the FCA's Asset Management Market Study according to a recent SEI poll
26/07/2017
Talya Misiri compares the recently revealed BBC presenters' salaries with the growing BBC pension deficit
26/07/17
The Supreme Court has today overruled a judgment by the the Scottish Sheriff’s Court on the pension rights which are included in matrimonial property during a divorce
26/07/17
GKN is to make a £250m lump sum payment to address the deficit of its defined benefit pension scheme in a pledge to reduce its future deficit recovery payments, it has been revealed
26/07/17
The Institute and Faculty of Actuaries has called for a greater understanding of the drivers of longevity in order to improve future forecasts
26/07/17
ITV’s net defined benefit pension deficit has risen by £15m in the six months to 30 June 2017, it has revealed
26/07/17
A total of £1.86bn has been cashed in from pensions in Q2 2017, the highest quarterly withdrawal recorded since the introduction of the pension freedoms, HMRC has revealed
26/07/17
Private sector master trust The People’s Pension has announced the enrolment of its three millionth member
25/07/17
Society of Pension Professionals DC committee member Ian Neale outlines the key pensions issues still to be addressed in the post EU referendum climate
25/07/17
Association of British Insurers policy adviser Lucie Forgie discusses the transfer and re-registration process and how these can be made clearer for consumers
25/07/17
The Pensions and Lifetime Savings Association has appointed Julian Mund as its new chief executive
25/07/17
The BBC’s DB schemes' liabilities have the largest impact on the corporation's balance sheet, with its DB deficit growing by 14 per cent over the past year, its annual report has revealed.
According to the BBC’s Annual Report and Accounts 2016/17, at 31 March 2017, the accounting deficit, as defined by IAS 19, increased by 14 per cent to £1.149bn from £1.011bn a year ago
24/07/17
Now: Pensions has announced its decision to withdraw itself from the master trust assurance list of providers for auto-enrolment, while it works to resolve historic issues processing contributions for a small percentage of clients
24/07/17
West Midlands Pension Fund strategic director of pensions Geik Drever is to retire at the end of September 2017 after more than five years with the fund and 30 years within the public sector
24/07/17
The government’s plans to increase the state pension age to 68 by 2039 means that 7.6 million people will lose almost £10,000 each
24/07/17
Scottish Local Government Pension Funds should be allowed to pool assets and invest in Scottish infrastructure projects, the Scottish National Party’s growth commission report will say
24/07/17
PLSA policy lead for EU and international James Walsh discusses predictions for Brexit following the UK General Election
24/07/17
The Pension Protection Fund’s chief executive Alan Rubenstein has informed the board of his intention to resign in early 2018
24/07/17
The Financial Conduct Authority has confirmed new rules on the collection of pension freedom data, which will come into effect in September 2018
21/07/17
Royal Bank of Scotland Group Pension Fund member-nominated trustee Stephen Fallowell explores why the government might not be asking the right questions when it comes to pensions savings
21/07/17
The latest mandates and news in brief from the past week
21/07/17
The government must do more to extend pension coverage in order to tackle the UK’s savings gap between generations, the International Longevity Centre UK has said
20/07/17
LGPS Central has appointed John Nestor and Eithne McManus as non-executive directors, following the earlier appointments of Joanne Segars and Andrew Warwick-Thompson
20/07/17
The Department for Work and Pensions has launched a consultation on defined benefit alternative quality requirements and provisions for seafarers and offshore workers
20/07/17
Pensions Management Institute president Kevin LeGrand looks at how auto-enrolment can be extended to cover the self-employed
20/07/17
Steve Webb served as Pensions Minister for five years, followed by Ros Altmann at just 13 months, and Richard Harrington at 11 months. Natalie Tuck looks at why Guy Opperman may be the nine month Minister
20/07/17
Savers who invest through a group personal pension plan can expect to gain higher returns than those who take out a personal pension plan
20/07/17
It is “too early to determine” the full remit of the single financial guidance body, the Parliamentary Under Secretary of State for Pensions and Financial Inclusion, Guy Opperman has said
20/07/17
Plans by the government to bring forward the increase of the state pension age to 68 by seven years will hit the “sandwich generation”
19/07/17
The government is to increase the state pension age from 67 to 68 by 2039, seven years earlier than previously planned, it has been announced
19/07/17
The retirement process has now become “a journey and not a destination”; while the purchase of fixed-term annuities has increased in popularity, IRESS has reported
19/07/17
Bulk annuity levels are currently at a 10-year high with extremely attractive pricing and plentiful capacity driving an increase in activity
19/07/2017
The lifetime allowance is to increase in line with inflation in 2018, the Treasury has confirmed
19/07/17
Behavioural nudges that help people improve their choices in readiness for retirement should be given at ‘teachable’ moments in life, as well as being tailored for different sections of society, research suggests
19/07/17
Savers may “take their foot off the gas” with retirement saving following the UCL’s findings that the rises in English life expectancy have almost levelled off, the industry has warned
19/07/2017
The government has confirmed that it has no plans to make any further changes to survivor benefits for police pension schemes
19/07/17
The government is considering whether the provision of information to the pensions dashboard should be made compulsory
19/07/17
The UK has dropped to 18th place in a global retirement ranking for retirement security, declining by one place since last year
19/07/17
Royal Mail has seen its revenues increase by 1 per cent in the three months up to the end of 25 June 2017, despite its ongoing pensions dispute with staff and unions
18/07/17
The expenditure for auto-enrolment in 2016/17 was 34 per cent less than budgeted for, the Department for Work and Pensions has revealed
18/07/17
External cyber-attacks have been identified as the top digital risk for pension and insurance companies
18/07/17
Demand for advice and support on pensions now operates in both the accumulation and decumulation phase, which is “very much a new thing”, Financial Conduct Authority chief executive Andrew Bailey has said
18/07/17
Rising rates of life expectancy in England have almost “ground to a halt”, nearly halving since 2010, University College London Institute of Health Equity director Sir Michael Marmot has found
18/07/2017
The Pensions Regulator has published a report on its first criminal prosecutions for the failure to provide requested information as part of ongoing investigations
18/07/17
UK inflation fell unexpectedly in June to 2.6 per cent, substantially reducing the likelihood of an August interest rate rise
18/07/2017
The Environment Agency Pension Fund achieved a 103 per cent asset to liability ratio in its recent actuarial valuation and annualised 11.6 per cent investment returns over the last five years, according to its 2016/17 annual report and financial statements
18/07/2017
The Financial Conduct Authority is to cover ‘wrappers’ platforms including self-invested personal pensions and ISAs in its Investment Platforms Market Study, it has revealed
17/07/17
Chancellor Philip Hammond has defended his reported comments on public-sector pay and pensions
17/07/17
Smaller pension scheme funding levels were hit five times as hard as their larger peers, according to new research from Goldman Sachs Asset Management
17/07/2017
Pensioners from the former UK Atomic Energy Authority, now AEA Technology, have launched a campaign to recover an estimated £182m pension shortfall and for the fair treatment of its members
17/07/17
The Financial Conduct Authority has fined FGS McClure Watters (FGS) and Lanyon Astor Buller Ltd compliance oversight officer David Watters £75,000 for breaching regulatory standards on pension transfer advice
14/07/17
Pensions Age’s latest recruit, 15 year-old work experience student Thisbe Titley, discusses her week in the industry, her views on financial education and advice
14/07/17
The Treasury could save £10bn each year if the government rethinks certain auto-enrolment requirements, the Centre for Policy Studies has said
14/07/17
Annuity rates are back up to pre-Brexit referendum levels, it has been reported
14/07/17
Royal Mail has confirmed its plans for a new pension plan that comprises of a defined benefit cash balance scheme and a defined contribution scheme that will be funded within its current £400m annual pension contribution
14/07/17
Nearly 40 per cent of companies do not offer support to employees transferring out of their DB scheme, research by Jelf Employee Benefits has found
14/07/17
Laura Blows discusses the recent landmark Supreme Court ruling in favour of same-sex couples' pension benefits and why this is long overdue
14/07/17
The concept of ‘pretirement’ where people do not fully retire upon reaching state pension age, but instead scale back on work or change jobs altogether, has become a new retirement reality, according to research by Prudential
14/07/17
The government has confirmed it is reinstating a planned cut to the Money Purchase Annual Allowance from £10,000 to £4,000
13/07/17
Savers who receive financial advice accumulate an average of £40,000 more in pension wealth and liquid financial assets than those who don’t, it has been revealed
13/07/17
The government is to appeal a High Court judgment which ruled that guidance issued to Local Government Pension Schemes on boycotting and divestment from foreign nations is “unlawful”
13/07/17
Local Government Pension Schemes need to be aware of the April 2018 deadline for creating investment pools, Aon has warned
13/07/17
Frank Field has been re-elected as the chair of the Work and Pensions Select Committee, it was confirmed today, 13 July 2017
13/07/17
The Department for Work and Pensions is to launch a white paper on the future of defined benefit pension schemes.

The white paper will consider the need to evolve and adapt the regulatory regime to improve security for members
13/07/17
A ‘sidecar’ account that is accrued through a similar format to workplace pensions could assist employees with saving for the long and short term, The Aspen Institute has proposed
13/07/17
A case involving the pension benefits of a part time worker in a judicial pension scheme has been referred to the European Court of Justice by the Supreme Court
12/07/17
SCOR has completed a £1bn longevity reinsurance agreement with the Pension Insurance Corporation
12/07/17
The Financial Conduct Authority’s Retirement Outcomes Review appears to be a “regulatory cry for help”, Hargreaves Lansdown head of policy Tom McPhail has said
12/07/17
In a landmark judgment, the Supreme Court has today, 12 July, ruled that same-sex couples that are married or in a civil-partnership should have the same pension benefits as heterosexual couples
12/07/17
The Financial Conduct Authority has identified several issues with the drawdown market in its latest report on retirement outcomes, which has led it to call for “intervention” to put the market on the “best footing for the future”
12/07/17
Savers are missing out on a collective £130m over their retirement by sticking with the same provider when purchasing an annuity, research by the Pensions Policy Institute has found
12/07/17
Several industry voices have called on the government to build on the recommendations made in the Taylor report, published today, on the subject of pensions for the self-employed
11/07/17
The government should explore ways to improve pension provision for the self-employed through digital platforms, the Taylor Review has said
11/07/17
Over eight million employees have been enrolled into a workplace pension since the introduction of automatic enrolment, the latest declaration of compliance from The Pensions Regulator reveals
11/07/17
Pensions Age’s latest recruit, 15 year-old work experience student Thisbe Titley, writes about her lack of financial education in school and after one day in the industry, what she thinks of pensions
11/07/17
The government has confirmed it will boost consumer protections by requiring pension providers to give personalised risk warnings to savers considering transferring out of policies with Guaranteed Annuity Rates (GARs)
11/07/17
The total deficit of schemes in the Pension Protection Fund’s 7800 Index has dropped to £186.2bn over June, down from 232.3bn at the end of May 2017
11/07/17
BMW workers have accepted a revised offer over the closure of their final salary pension scheme
11/07/17
Nest Corporation’s assets under management have almost doubled over the past year from £825,000 to £1.6bn
10/07/17
Half of Brits are unaware that the government enhances their pension contributions in the form of tax relief, with many potentially missing out on tens of thousands of pounds in retirement
10/07/17
The Pensions Regulator has recovered more than £650m from UK defined benefit pension schemes including BHS and Coats Group in the last year
10/07/17
The Pensions Ombudsman has seen enquires increase by 22 per cent year-on-year, with more than 6,000 complaints received in 2016/17
10/07/17
A third of UK defined benefit pension schemes are at risk of failing to pay full member benefits, Punter Southall Transaction Services (PSTS) has said
10/07/17
The Pensions Regulator has secured a criminal conviction against a former office manager of a company that is at the centre of a £13.75m scam case, for refusing to provide relevant information to the investigation
07/07/17
Ninety-six per cent of employers are confident they are fully compliant with their ongoing auto-enrolment duties, according to research by The Pensions Regulator
07/07/17
The length of defined benefit recovery plans presents a “significant risk” to the Pension Protection Fund, according to the lifeboat fund’s chief risk officer Hans den Boer
07/07/17
The Pension Protection Fund has published its financial returns for the year, which show assets have increased by £5.3bn from £23.4bn up to £28.7bn
07/07/17
The government has scrapped plans to introduce a pensions cold calling ban from the Financial Guidance and Claims Bill
06/07/17
Defined benefit pension transfer values decreased by 3.7 per cent over the month to the end of June, falling to £232,000
06/07/17
A number of industry groups have united to establish a set of ‘fit and proper protocols’ to be met by professional trustees
06/07/17
The newly appointed Minister for Pensions and Financial Inclusion, Guy Opperman, has been heckled for suggesting women affected by state pension age increases should consider taking up an apprenticeship
06/07/17
Pricing in the longevity market is “back in sync” after the dislocation that happened last year due to mortality statistics, according to Aon Hewitt
06/07/17
Less than half of savers with a defined contribution pension are satisfied with their provider, according to the Financial Conduct Authority’s Financial Lives Survey
05/07/17
The Pensions Regulator has warned that trustees who fail to meet their basic governance duties will receive a financial penalty
05/07/17
FTSE 350 liability values varied by almost £30bn between their high and low values during June 2017, Mercer has reported
05/07/17
Trustees should offer a partial defined benefit transfer as a standard option, according to a new report by LV=
05/07/17
Underpayments of benefits excluding the state pension were at the highest recorded levels in 2016/17, the Department for Work and Pensions has revealed
05/07/17
The upcoming increases to auto-enrolment contributions will “test the inertia principle” of saving, according to The Pensions Regulator chief executive Lesley Titcomb
05/07/17
Aviva and Royal London have published a proposal on how to extend auto-enrolment to the self-employed
05/07/17
The Pensions Ombudsman has refused to take action on a complaint made against the trustees of the Standard Life Staff Pension Scheme regarding a cash equivalent transfer value
04/07/17
Secretary of State for Work and Pensions David Gauke has said he is keen to build on the “continuity and consistency” that the pensions industry is hoping for
04/07/17
Zurich Assurance has signed a longevity hedge swap with Skanska Construction Services Trustee Limited (the Trustee) covering £300m of liabilities
04/07/17
A collective amount of £756m has been missed out on due to people not shopping around when purchasing annuities, according to analysis by Retirement Advantage
04/07/17
Advisers are unhappy with their Pension Wise funding allocation for 2017/18 as they are not benefitting from the advice service or pension reforms, the Financial Conduct Authority has reported
03/07/17
The upcoming auto-enrolment contribution increases in April 2018 and 2019 could lead to one million opt-outs in 2019, Hargreaves Lansdown has said
03/07/17
Employees should consider a ‘plan B’ for their retirement income as defined benefit pension liabilities held by SMEs continue to rise, Salisbury House Wealth has advised
03/07/17
Ninety-seven per cent of the UK’s defined benefit pension schemes with assets over £1bn are now closed to new members, Barnett Waddingham has reported
03/07/17
UK defined benefit pension fund deficits continued to fall in June 2017, regardless of ‘political turmoil’ caused by the general election and the Brexit negotiations
03/07/17
The government is not able to provide an estimate of the fiscal impact scrapping higher rate pensions tax relief would have
03/07/17
The government has said it is open to proposals from the Mineworkers Pension Scheme on its surplus sharing arrangements
30/06/17
Newly appointed Parliamentary Under Secretary of State for Pensions and Financial Inclusion, Guy Opperman, has taken on his first pension challenges on topics such as women’s state pensions and the triple lock.

Upon on his appointment as the Minister earlier this month, Opperman said he was looking forward to building on the efforts of auto-enrolment and helping people prepare for later life, with both a private and state pension
30/06/17
The Pensions Regulator has warned employers of a scam which involves employers being offered to purchase a £58 fake certificate, which suggests they are exempt from auto-enrolment duties
30/06/17
News in brief from the past week.
30/06/17
New EU insolvency regulations may make gaining access to the Pension Protection Fund a lot harder, TLT specialist restructuring and insolvency lawyer Richard Clark takes a look
30/06/17
The planned increases to auto-enrolment contributions in April 2018 and April 2019 could see over half, 52 per cent, of under-30s opting out, Scottish Widows has found
29/06/17
The public’s support for more government spending on pensions has dropped from 76 per cent in 1996 to 55 per cent in 2017, according to the British Social Attitudes Survey
29/06/17
The de-risking market has seen a steady growth in pension schemes undertaking buy-ins as liabilities become “increasingly due”, the Pensions Insurance Corporation has said
29/06/17
The Pensions Regulator’s communications approach has been described as akin to a letter from a water board, where final demands can be sent but do not have “any value”
29/06/17
Pension transfers helped to fuel a 17 per cent increase in money coming out of FTSE 350 defined benefit pension schemes in 2016, Willis Towers Watson has found
29/06/17
Marjorie Ngwenya has now taken on the role of president at the Institute and Faculty of Actuaries
29/06/17
The Co-operative Bank’s pension scheme is to split from the Co-operative Group’s pension scheme as part of deal to raise capital for the Bank
28/06/17
The Pension Protection Fund is “well positioned” for future, anticipated risks, it has said
28/06/17
The pensions industry has welcomed the Financial Conduct Authority’s study on the asset management industry and believe it reflects a change in tone from the regulator
28/06/17
The Financial Conduct Authority has recommended the Department for Work and Pensions removes barriers to pension scheme consolidation and pooling
28/06/17
Women are now expected to retire with an average annual retirement income that is £6,400 less than their male counterparts, Prudential has found
28/06/17
The Pensions Regulator has today, 27 June 2017, published a report on its BHS pension scheme intervention
27/06/17
Members who transfer their defined benefit pot or defined contribution members who opt for drawdown are more at risk of sequence risk, it has been claimed
27/06/17
Former Pensions Minister Ros Altmann has said that net pay schemes could be a future scandal and urged employers to look at the issue
27/06/17
Retirement planning uncertainty and confusion surrounding pensions is “worryingly on the rise”, it has been said
27/06/17
The new government must place the reform of pensions guidance high on their agenda to encourage greater take-up of advice, MetLife has said
27/06/17
Member nominated trustees require much more ‘support and investment’ from sponsoring employers and professional trustees than they are currently receiving, The Pensions Regulator has said
27/06/17
Pension schemes are being urged to factor in the rising longevity of affluent men to their assumptions, as the group has seen its life expectancy rise faster than any other national trend over the last five years
26/06/17

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