Industry

Rachel Dalton looks at the proportion of remuneration spent on pensions

Helen Morrissey draws together opinions on the outlook for next year

Government and industry must step up efforts to tackle retirement challenges, Zurich says.

The cost of the single-tier state pension will surge by £344bn between 2013 and 2063, according to figures published by the Office for National Statistics (ONS) today.

Paul Flowers' role as a trustee to the Co-operative pension scheme will come under scrutiny as part of ongoing governance reviews into the Co-operative Group and Bank, a spokesman has confirmed.

The majority of this week's respondents said it was unnecessary for schemes to nominate a devil's advocate when making big decisions.

This week Buzz respondents defended tax-free lump sums fiercely.

Employers offering defined benefit (DB) schemes are unlikely to increase their normal retirement ages beyond 65 despite changes to the state pension age (SPA), according to Aon Hewitt.

The government will not change the basis on which Government Actuary's Department (GAD) tables are formulated for income drawdown according to the Autumn Statement.

Increasing employer pension contributions driven by rising longevity, auto-enrolment (AE) and poor defined benefit (DB) scheme returns has held back wage growth, according to Treasury figures.