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Insurers top concerns are regulation and low interest rates

Insurers across the world say regulatory changes and sustained low interest rates will continue to be their primary environmental challenges over the next one to three years, according to a new insurer outlook survey conducted by global professional services company Towers Watson
Posted on Wednesday Jan 28

Time running out for urgent reforms to Pension Schemes Bill

As the Pension Schemes Bill enters one of its final Parliamentary stages, Royal London calls for urgent action to reform the financial advice market
Posted on Wednesday Jan 28

Government relaxes advice need for small DC pensions

Government relaxes advice requirement on transfers of small defined benefit pensions
Posted on Wednesday Jan 28

Levy Reduction Measures from the Pension Protection Fund

The Pension Protection Fund has issued its determination and final documents in relation to the 2015/16 risk based levy. Companies that participate in defined benefit pension plans and trustees of such plans should now consider whether they can save money by taking advantage of any of the levy reduction measures available.

Pension Protection Fund – Levy Reduction Measures
Posted on Tuesday Jan 27

Almost 1 in 5 employers late with Auto-Enrolment in 2014

New figures from workplace pensions provider, NOW: Pensions, reveal that out of the 4,279 companies that signed up with it in 2014, nearly one in five (17%) completed their application either very close to their staging date or after the deadline had passed.

Posted on Tuesday Jan 27

FCA introduce additional protection for DC pensions

The Financial Conduct Authority (FCA) has today written to the Chief Executive Officers (CEOs) of pension providers to outline plans to introduce additional protection for those accessing their defined contribution (DC) pension pot from April.
Posted on Tuesday Jan 27

Actuaries warn 'millions denied access to pension freedoms'

Actuaries warn that millions of people may not have access to the new pension freedoms in April as over half (58%) of occupational pension schemes are still undecided about whether they will enable their members to do so, with 15% saying they will offer no new flexibilities.

Posted on Monday Jan 26

3-Fold increase in pension scams since pensions announcement

Pension savers are almost three times more likely to be approached or receive messages than they were nine months ago
45% have been approached to see if they wanted to review their pension or release some of it as cash
A worrying 38% of those likely to release their pension will go to free pension review companies online which could be a front for fraudsters
Of those who have been approached regarding a pension review, over one in six (15%) said they contacted the fraudsters as a result
Posted on Monday Jan 26

How long will I live

Make life expectancy conversations mandatory and a core action for the government’s guidance guarantee service
Posted on Monday Jan 26

Pensions are becoming a national priority, says NEST

In a poll of consumers, when asked how they would allocate their money if they had more of it to spend, ‘saving for retirement’ ranked third in importance for the second year running, coming behind only holidays and saving for a rainy day on a list of priorities.
Posted on Monday Jan 26

Pensions scandal: Firms' hidden errors cost savers thousands

Savers are being left thousands of pounds out of pocket in retirement because of basic calculation errors made by insurance companies, The Telegraph can disclose.
Posted on Monday Jan 26

Annuity rates fall by 10% since August 2014

A new study from My Pension Expert has revealed the dramatic reduction in annuity rates since the summer. On average since August 2014 annuity rates have fallen by 10% and currently show no signs of stopping there.
Posted on Friday Jan 23

Pensions Wise complaints should be heard by financial body

Commenting on today’s announcement from HM Treasury that complaints about the new Pension Wise guidance service, which is due to be launched in April, will be heard by the Parliamentary and Health Service Ombudsman (PHSO) rather than a financial services body.
Posted on Thursday Jan 22

18-24 year olds rush to start retirement savings race

Friends Life UK Retirement Savings Map1 finds 18-24 year olds who have a pension are all actively saving into their pot
Younger people are facing up to the reality of retirement and are more realistic about later life income
Data of 18,000 people shows savings inertia increases as people get older
Posted on Wednesday Jan 21

Towers Watson launch independent UK DC master trust

Fiona Matthews appointed to lead the programme. Donald Brydon CBE appointed chairman of the board of trustees.
Posted on Wednesday Jan 21

Pension deficit for UK plc climbs to £104bn

FTSE350 pension deficit sees increase of £27bn in less than a month
Posted on Wednesday Jan 21

Tennants Consolidated Pension Fund Appoints Buck Consultants

Tennants Pension Trustees Limited has appointed Buck Consultants at Xerox to provide actuarial, consulting, pensions administration and scheme secretarial services for both the defined benefit and defined contribution sections of the Tennants Consolidated Limited Pension Fund. The Fund has over 1,200 members and approximately £130 million of assets.
Posted on Tuesday Jan 20

Closedown of DB schemes accelerates among FTSE 100 companies

Just over half the FTSE 100 companies still have sizeable DB pension schemes
Posted on Monday Jan 19

Broadstone comments on Steve Webb's scepticism

Broadstone comments on Steve Webb’s scepticism about a larger role for income protection
Posted on Friday Jan 16

Effective default solutions for DC savers needed says PPI

The Pensions Policy Institute (PPI) is today publishing ‘Supporting DC members with defaults and choices up to, into, and through retirement: qualitative research with those approaching retirement’, a report sponsored by State Street Global Advisors.

Posted on Thursday Jan 15

Schroders Flexible Retirement Fund launched today

Schroders today responds directly to the government pension changes with the launch of a unique pre-retirement solution.
Posted on Thursday Jan 15

Steve Webb on Pension tips for teenagers

An optimistic expectation of an £800 a week State Pension is an example of why teenagers soon to enter the world of work need a wake-up call about the importance of saving for old age.
Posted on Thursday Jan 15

Prudential Retirement announce transaction with Rothesay

Prudential Retirement, a business unit of Prudential Financial Inc. announced today its fifth longevity reinsurance transaction since 2011 with Rothesay Life Limited and its affiliates.
Posted on Wednesday Jan 14

EIOPA proposals complex and costly says Barnett Waddingham

Responding to the consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on further work on solvency of pension schemes, Barnett Waddingham LLP have warned that the introduction of Europe-wide solvency requirements would accelerate the current decline in defined benefit pension provision and risk undermining the security of members’ benefits as a result.
Posted on Wednesday Jan 14

Pension schemes can access entire buyout market with Skyval

Pension schemes now able to access entire pensions buyout market with Skyval Insure
Posted on Wednesday Jan 14