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LV= responds to the government's consultation into exit fees

Richard Rowney, Managing Director of LV= Life and Pensions commented
Posted on Friday Jul 31

Aegon comment on closure of Combined Pension Statement

Commenting on the DWP’s announcement that it will be closing its Combined Pension Statement Service, while introducing a new digital service, Steven Cameron, Regulatory Strategy Director at Aegon said:
Posted on Wednesday Jul 29

Pensions industry rates regulator's performance

The performance of The Pensions Regulator has been rated ‘very good’ or ‘good’ by nearly 80% of respondents to its latest perceptions report.
Posted on Wednesday Jul 29

Over 10m pension pots go unchecked by savers

Over ten million pension pots go unchecked by savers as two in three over-45s admit to paying little or no attention. Of those who have consolidated their pots, 21% did so because they took the advice of their financial adviser – however, nearly the same proportion (19%) did so because they found it easier to manage.
Posted on Wednesday Jul 29

Should the UK copy the US 'Save More Tomorrow' schemes

Tony Stenning, Head of UK Retail at BlackRock, calls for automatic rises to pension contributions, in line with people’s pay, in order to address the auto-enrollment ‘cliff’.
Posted on Wednesday Jul 29

Saga comments on Equity Release Council Q2 data

Following the launch of the new pension freedoms, the growth in people releasing equity from their property is a further sign that people are overhauling their approach to funding retirement, with property wealth set to become an integral part of retirement planning.
Posted on Tuesday Jul 28

£100bn of investment risk carried in FTSE 350 DB Pensions

A new report from Lincoln Pensions, the UK specialist pensions advisory business has revealed that the FTSE 350 is carrying considerable financial risk within its defined benefit (“DB”) pension schemes (“Pension Schemes”). Lincoln Pensions estimates that they are underwriting almost £100bn of investment risk (being the aggregate Value-at-Risk of Pension Schemes of constituent companies in the FTSE 350) in their Pension Schemes.
Posted on Monday Jul 27

Pensions liberation fraud increases by 235% to £4.7m in May

According to a report in this weekend’s Financial Times, data supplied to the publication by the City of London police show reported losses from pension liberation fraud increased 235 per cent to £4.7m in May – up from £1.4m in April when savers were given greater freedom to spend their pension money as they liked.
Posted on Monday Jul 27

Government must protect pension scheme members from scammers

Veratta today urged the government to do more help safeguard pension scheme members and their sensitive information assets from scammers and fraudsters.

Posted on Friday Jul 24

Pension scams on the rise since pension freedoms began

Portal Financial, one of the UK’s leading pensions advisers, has reported 11 pension scam companies to Google this year. Pension scams, including offering pension release to people under the age of 55, can appear in Google’s search results. This includes the paid advertisements, which makes them likely to appeal to a large number of people.
Posted on Friday Jul 24

500,000 more small & micro employers will have AE duties

More business start-ups and lower numbers of closures mean around half a million more small and micro employers will have automatic enrolment duties than previously estimated.
Posted on Thursday Jul 23

TRUST|Pensions to offer optional ISA service to membership

A straightforward investment approach for both experienced and first time investors, similar fund choices offered both within and without the master trusts and the ISA service aims to make investing easier, but with no restriction on choice
Posted on Wednesday Jul 22

Malcolm McLean comments on DWP Factsheet

DWP factsheet illustrates ‘mind-blowing complexity’ of establishing entitlement to new state pension says Malcolm McLean
Posted on Wednesday Jul 22

Rothesay Life completes bulk annuity of £1.6bn

Commenting on the transaction Rothesay Life’s Managing Director, Tom Pearce, said: “We are delighted to have completed such a significant transaction with the CAAPS and Aon. The deal is further evidence of the increasing maturity of the bulk annuity market and an endorsement of Rothesay Life as a leading player in it. Our strong capital position and cautious approach to risk management leaves us well positioned to take advantage of growth opportunities.”
Posted on Wednesday Jul 22

1 in 3 firms 'cutting it fine' with Auto Enrolment

Of the companies that signed up with workplace pensions provider NOW: Pensions in the second quarter of 2015, nearly a third (32%) completed their application either very close to their staging date or after the deadline had passed.

Posted on Tuesday Jul 21

The PPF marks its 10th anniversary with a strong performance

The Pension Protection Fund (PPF) has marked its tenth anniversary with a strong financial performance thanks to impressive investment returns, which have helped increase its surplus to £3.6 billion and its funding ratio to 115.1 per cent.

Posted on Monday Jul 20

Over-45s’ savings will result in retirement shortfall

The typical working over-45 year old faces a £8,955 annual retirement income gap based on their current savings and investments – leaving them to rely heavily on a state pension that will still leave them short, the latest Aviva Real Retirement Report shows.
Posted on Monday Jul 20

Aegon launch guaranteed drawdown

Secure Retirement Income from Aegon has been designed to meet growing demand for flexibility and income certainty, providing an alternative to an annuity or flexi access drawdown, both of which have limitations.
Posted on Monday Jul 20

Partnership comments on delay to Care Cap

Following the Government announcement that the introduction of the Care Cap will be delayed until 2020, Jim Boyd, Director of Corporate Affairs at Partnership, said:
Posted on Friday Jul 17

PwC appoints Stephen Soper as senior pensions adviser

PwC has appointed Stephen Soper as senior pensions adviser. Stephen will join PwC’s pensions credit advisory team in September. He joins from The Pensions Regulator, where he has held positions of executive director for defined benefit (DB) regulation, and interim CEO. Under Stephen’s leadership, the regulator achieved landmark case outcomes, including the £184m settlement for the Lehman Brothers Pension Scheme, and oversaw the initial roll-out of auto-enrolment.
Posted on Friday Jul 17

Automatic enrolment:workplace pension saving at 10-year high

Young people in particular are among the biggest winners with 70% of eligible workers now saving into a workplace pension. Automatic enrolment: workplace pension saving at a 10-year high
Posted on Friday Jul 17

ONS report on employees eligible for Automatic Enrolment

Employees eligible for Automatic Enrolment: contributions to workplace pensions, 2005 - 2014
Posted on Friday Jul 17

Pensions help & advice is key to avoiding mis-selling crisis

The Commons’ Work and Pensions Committee today launches an inquiry into the guidance and advice on offer to people navigating the “choice and flexibility” changes to pensions introduced in April of this year.
Posted on Thursday Jul 16

Actuarial Association of Europe comments on EIOPA

On 10 July 2015 EIOPA published a note on the “Need for high quality disclosure: Solvency II’s report on solvency and financial condition and the potential role of external audit”. The Actuarial Association of Europe (AAE) shares the EIOPA view that the Solvency and Financial Condition Report (SFCR) “is a unique opportunity for (re)insurance undertakings to address stakeholders’ perception on perceived opaqueness and inadequacy of publically disclosed information”.

Posted on Thursday Jul 16

NOW:Pensions comments on tPR publishing list of providers

The Pensions Regulator (TPR) today announced that it will publish a list of providers with the master trust assurance framework (AAF 02/07) on its website and direct employers and their advisers to the list in its literature.
Posted on Thursday Jul 16

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