UK - The Pensions Bill lacks substance and detail, Conservative work and pensions spokesman David Willetts says.
Willetts likened work and pensions secretary Andrew Smith to “an ill-organised teenager who knows the exam has been due for years, but is still in a panic when he realises he has to sit the test in a few days’ time”.
He added: “There is much on administrative mechanisms, but little on the choices any government has to make in tackling a crisis as serious as we now face.”
But Smith dismissed the criticism and said the Bill was an important step forward in security and confidence in pensions.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.