Investment

Getting HR and payroll systems ready for compliance with auto-enrolment requirements is the biggest pensions challenge facing employers, Mercer research reveals.

The National Employment Savings Trust has finalised its opt-out process ahead of the introduction of auto-enrolment later this year.

The Financial Services Authority has removed the permissions of SIPP provider HD Administrators with immediate effect after two directors were arrested.

Resolution is preparing a "self-managed" exit from Friends Life in 2014 that would see the company split between a fit for purpose life company and a closed life fund consolidator.

The average defined contribution member has lost £2,750 a year from their income in retirement over the last year, research finds.

The auto-enrolment earnings trigger and the lower and upper limits for the qualifying earnings band have been confirmed.

The National Association of Pension Funds has urged government to amalgamate small pots into a number of super trusts in a bid to solve the problem of "stranded" schemes.

Small to micro employers will be given a "significant easement" of £1.7bn in the roll-out of auto-enrolment, under government plans to delay both staging and contribution rates.

Pensions minister Steve Webb has reaffirmed his intention to scope out the middle-ground between defined contribution and defined benefit provision.

The Economic and Monetary Affairs Committee of the European Parliament has voted in favour of the Omnibus II directive - providing insurers with extra time to comply with Solvency II.