UK - One million DC members are being short-changed by the government's insistence that they buy limited price index annuities, Standard Life claims.
Senior technical manager John Lawson said that, under the government’s current legislation, a 60-year-old man would have to live to 114 before he would have been any better off with an LPI annuity, assuming inflation remains constant.
Lawson claims that one million people – who have contributed to DC schemes since April 6, 1997 – are being short-changed by the government, because it insists they buy an LPI.
Here it is... The video of all the highlights from last night's UK Pensions Awards.
Here they are...all the pictures from the UK Pensions Awards 2019.
This week's top stories included The Pensions Regulator criticising Sir Philip Green's latest plans for the Arcadia pension schemes.
The trustees of the beleaguered industry-wide Plumbing and Mechanical Services (UK) Industry Pension Scheme have confirmed it will close to accrual in June.