AUSTRALIA - Almost half of Australians believe that superannuation is too complicated to understand properly, according to a report from the Australia Institute.
Around a quarter of survey respondents (23%) said they were not confident in their long-term financial future; and women, young people, people on lower incomes and people with less formal education were less likely to be confident in their financial future.
Institute research fellow Josh Fear, who authored the report, said: "In the realm of personal finances, people are often presented with choices that they would prefer not to make, or would prefer someone else to make on their behalf."
The report recommended that governments provide consumers with simple, independent information to compare superannuation and investment products; and make financial advice more widely available to people who do not wish to use a commercial financial adviser.
It also said governments should invest in basic literacy and numeracy; and focus on the needs of groups who tend to struggle with financial decisions.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.