The Treasury announced today all pensioners in England and Wales with an income of, or below, £35,000 a year will benefit from a Winter Fuel Payment. This means nine million pensioners will receive Winter Fuel Payments this winter.
Men underestimate their life expectancy by 4 years, women by 7 years. Planning for 17 years leaves men £20k and women £35k short on modest pension goals. With average pots of £50k, many face a £70k gap by retirement.
Following further detail on CDCs outlined in last week’s Pensions Bill and workplace pensions “roadmap”, Steven Taylor, Partner and Head of CDC at LCP says Guided Retirement requirements from as early as 2027 could be a game changer that will require Trustees and sponsors to investigate how CDC could benefit their members.
76% of over 50s say appetite for risk is important when financial planning for retirement. Two-fifths (41%) of over 50s yet to retire expect to reduce their risk tolerance.
The Financial Reporting Council (FRC) has published the 2026 Stewardship Code, which will be effective from 1 January 2026. This follows extensive industry engagement which sought to evolve the Code to be flexible enough to reflect different stakeholders, reduce the reporting burden on signatories and continue to support long-term value creation. The updated Code sets out the following revisions.
A man has been sentenced to 12-months imprisonment, suspended for 12 months, with a requirement to complete 150 hours of unpaid work, after selling two fraudulent motor insurance policies to unsuspecting members of the public and then using their details to attempt to file fraudulent claims against them.
Significant increase in 50% hedged scheme’s funding level to 105.8% (up more than 2%). Fully-hedged scheme sees slight improvement in its funding position, increasing from 69.1% to 69.3%. Release of Pensions Bill and Regulator Guidance encourages wider discussion on growing range of endgame options.
Commenting on the Pensions Schemes Bill and how it has moved the dial on Superfunds, Richard Wellard, Head of Alternative Risk Transfer says: "A framework for Superfunds was what we expected, and a framework is what we got. Secondary legislation will set all the important numbers, define important things like ‘very high likelihood’ or ‘material likelihood’, and fundamentally dictate the commercial outlook for any superfund thinking about operating once the Pensions Schemes Bill is in force.
Effective retirement strategies play a key role in organizational success. WTW examines the latest insights and best practices for enhancing global retirement management (GRM). In today's global business landscape, managing financial risks and attracting and retaining top talent are critical for organizational success. Effective retirement strategies play a pivotal role in achieving these goals. This article explores key insights and best practices for enhancing global retirement management (GRM), drawing from the actual experiences of two leading organizations.
PPF comments on the introduction of the Pension Schemes Bill. The Bill, as introduced, contains a number of measures which directly relate to the Pension Protection Fund (PPF) and Financial Assistance Scheme (FAS).
The Financial Ombudsman Service (FOS) has issued a consultation on the interest applied to pension compensation payments. First Actuarial – which offers a pension transfer redress service for advisers – is calling for a simple and transparent solution. The firm intends to respond to the consultation in support of the fairest option proposed.
ARC Pensions Law comment as the Government will introduce legislation to deal with issues arising from the Virgin Media v NTL Pension Trustees judgment.
New Pensions Schemes Bill will transform pensions system, changing the nature of trusteeship. The Pensions Regulator (TPR) CEO Nausicaa Delfas signals new trusteeship strategy, to bring trusteeship into line with other professions and corporate governance standards.
With improved scheme funding levels and regulatory change to allow more flexibility in releasing surplus within defined benefit (DB) schemes expected, the prospect of running-on your DB scheme continues to be a hot topic in the pensions industry. The recent government response to consultation on options for DB schemes lays the groundwork for trustees and sponsors to work together to generate and release surplus in future. In this article, we share how DB schemes can tailor their investment strategy to support surplus generation and capitalise in a run-on period.
Comments from Standard Life, ABI, Aegon and Now Pensions on the new Pension Schemes Bill. The Bill targets consolidation both at a scheme and individual saver level and continues to prioritise value for money over cost alone. More than a decade on from auto-enrolment and the pension freedoms, changes start to address a number of unresolved issues. Default decumulation has the potential to be one of the most significant interventions industry can make to help people maximise their savings. VfM framework will enable comparison across a range of metrics and have consequences for those who are not delivering
The Pension Schemes Bill will tackle schemes delivering poor returns for savers, combine smaller pension pots, and create bigger and better pension funds. These measures will drive costs down and returns up on workers’ retirement savings – putting more money in people’s pockets as part of the Plan for Change.
Katie North-Walker has joined LCP’s Pension Risk Transfer practice as a member experience specialist to spearhead the team’s market-leading work on keeping members engaged and supported throughout the bulk annuity process.
The revitalising benefits of a walk are well known but for two in five (38%) UK adults it’s also a time to mull over major financial decisions according to new research from Standard Life, part of Phoenix Group.
Pensions minister Torsten Bell today confirmed to the Work and Pensions Committee that there is no prospect of returning to a universal Winter Fuel Payment
54% of SMEs use credit to fund insurance premiums and the average amount borrowed is almost 10% higher than last year, Premium Credit research shows. More than a quarter have cut levels of insurance cover in the past year with nearly one in five of them cancelling at least one policy and not replacing it.
The Trustee of the Littlewoods Pensions Scheme, advised by Arc Pensions Law, has successfully obtained a modification order from The Pensions Regulator (TPR) enabling surplus remaining at the end of winding-up to be paid to the sponsor. These orders can be made under Section 69 of the Pensions Act 1995 where a surplus would otherwise be trapped in an occupational scheme. Whilst this is not a new power, TPR has only used it once before, in 2010, and the circumstances were quite extreme.