UK - Schemes can give some members "better value" pensions by offering impaired life annuities, Watson Wyatt told delegates at the NAPF's annual conference in Glasgow.
Partner Mike Wadsworth said if scheme members annuitise benefits later than normal retirement, at 70, for example, it can provide better value for money.
He said: “Annuities bought at normal retirement ages appear poor value, since the reward for annuitising is small – 1% to 2.5% above corresponding long bond yields.”
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
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