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Young adults at home are draining parents pension pots

Posted on Friday Sep 13

Twenty million adults worried about a longer working life

New research from Aviva has found that 61% of UK adults are worried about the prospect of a longer working life. This equates to 20 million working people in the UK. This research comes as official figures report a record number (10.6m) of workers over the age of 50 – a rise of 32% (2.6m) over the past decade.
Posted on Thursday Sep 12

Half of DC pension schemes to add ESG focus to default fund

According to research from Willis Towers Watson half (52%) of DC pension schemes are looking to incorporate (or continue to include) ESG into their default strategy in the near future,
Posted on Thursday Sep 12

Comment on the scope of latest NHS pension consultation

comment from Steven Cameron, Pensions Director at Aegon, following the consultation on proposals to offer more flexibility to senior clinicians in the NHS Pension Scheme.
Posted on Thursday Sep 12

Current annuity rate at lowest for twenty five years

Steven Cameron, Pensions Director at Aegon comments on figures from Moneyfacts showing the current annuity rate is the lowest since at least 1994 (when its records started).
Posted on Thursday Sep 12

PMI invites pension experts to join their Working Group

The Pensions Management Institute led Master Trust Working group (PMI MTWG) is inviting pension experts across the industry to participate in their four key workstreams: Governance, Technology, Training & Engagement, and Innovation.
Posted on Wednesday Sep 11

The most pension savvy cities revealed

As part of Pension Awareness Day on September 15th, experts are promoting the importance of saving for the future and why Brits need to save more for retirement. And with previous research from Portafina confirming that a third (32%) of UK adults admit to not taking their pension seriously as they find it confusing, the pension advice specialist has now revealed the glaring gaps when it comes to the most basic pension knowledge in cities across the nation.
Posted on Wednesday Sep 11

Transfer values peak in August but activity is down

Transfer values rose to record highs in August 2019, whilst the number of members requesting a transfer value fell, according to XPS Transfer Watch, which monitors how market developments have affected transfer values for an example member, as well as how many members are choosing to take a transfer value.
Posted on Wednesday Sep 11

Update your retirement age or lose out on 10 thousand pounds

Analysis from Aviva has revealed that millions of workplace pension savers in the UK could miss out on thousands of pounds in retirement because they haven’t updated their planned retirement date.
Posted on Wednesday Sep 11

Over 55s value a regular income from State Pension

The vast majority of over 55’s who have used pension freedoms to access their private pensions say they want the State Pension to deliver a lifetime income in retirement, according to new insight from Canada Life. Less than one in ten over 55s would choose to take the State Pension as a lump sum up front at the point of retiring.
Posted on Wednesday Sep 11

Pension charging structures and beyond

The Pensions Policy Institute (PPI) is publishing Pension charging structures and beyond; an outcomes-focused analysis sponsored by Smart Pension.
Posted on Wednesday Sep 11

BlackRock comment on the August PPF7800 Index update

Sion Cole, Head of UK Fiduciary Business at BalckRock comments on the latest PPF 7800 Index figures:
Posted on Tuesday Sep 10

Pension Protection Fund issue August 2019 PPF7800 Index

PPF 7800 Index for August 2019. This update provides the latest estimated funding position, on a section 179 (s179)basis, for the defined benefit pension schemes potentially eligible for entry to the Pension Protection Fund (PPF). A scheme’s 179 liabilities represent, broadly speaking, the premium that would have to be paid to an insurance company to take on the payment of PPF levels of compensation.
Posted on Tuesday Sep 10

Aegon Master Trust receives authorisation from TPR

The Aegon Master Trust has confirmed today that it has received authorisation from the Pensions Regulator (TPR).
Posted on Tuesday Sep 10

Pension priorities for Therese Coffey

Steven Cameron, Director of Pensions at Aegon comments on Therese Coffey’s appointment:
Posted on Monday Sep 9

Renewed focus on dividend versus deficit reduction debate

Support for FTSE 350 defined benefit (DB) pension schemes remains largely unchanged over the last year although PwC data has highlighted a polarisation across the schemes.
Posted on Monday Sep 9

Coffey replaces Rudd as DWP door continues to turn

Commenting on the news that Therese Coffey is replacing Amber Rudd as secretary of state for work and pensions, Helen Morrissey, pension specialist at Royal London, said:
Posted on Monday Sep 9

Tips on how to build retirement confidence

To mark the start of Pension Awareness Week, Aegon has conducted new research. The Retirement Confidence Survey reveals that people in the UK are feeling slightly more confident about their ability to retire comfortably, than they did two years ago. Latest figures show just over half now feel confident about their ability to retire comfortably, compared to just under a half in 2017.
Posted on Monday Sep 9

Significant fall in pension transfer charge for QROPS

A Freedom of Information request submitted by Canada Life reveals the impact of the overseas transfer charge applied to certain pension transfers to Qualifying Recognised Overseas Pension Schemes (QROPS). These schemes are used by people who are moving abroad and are looking to transfer their UK pension.
Posted on Friday Sep 6

Top pension schemes commit to Cost Transparency initiative

Ten of the UK’s largest pension schemes have written a joint letter publicly endorsing the Cost Transparency Initiative. The schemes representing over 19m members and who have more than £150bn in assets under management have set out their support and intent to use the new Standards that comprise of templates and guidance and will help deliver greater value for money for millions of savers.
Posted on Thursday Sep 5

Industry comment on the Chancellors Spending Review

Industry comment from Royal London, Aegon and Hymans Robertson on the Chancellors Spending Review
Posted on Thursday Sep 5

Figures show huge levels of opt outs from NHS pension scheme

Steven Cameron, Aegon’s Pensions Director comments on Government figures showing huge levels of opt outs from NHS pension scheme
Posted on Wednesday Sep 4

Sustainable withdrawal rate vital to income drawdown success

Keeping income withdrawal rates within sustainable levels is vital to the long term success of an income drawdown portfolio according to Royal London.
Posted on Wednesday Sep 4

The Beam UK Pension Plan appoints Willis Towers Watson

Willis Towers Watson is delighted to announce that it is has added another client to its OneDB service which launched in June last year.
Posted on Tuesday Sep 3

No deal Brexit ending UK state pension upratings

Steven Cameron, Pensions Director at Aegon comments on the Government announcement that state pension inflation upratings to UK claimants now resident in the EU are only guaranteed to continue for 3 years after a no deal Brexit.
Posted on Tuesday Sep 3