UK - An independent pensions authority must be set up to supervise relationships between employers, employees and the government, according to Help the Aged.
The pressure group believes a new independent pension authority could simplify the array of occupational and personal pensions and fix contribution rates for employers and employees so that an average working life produces a second pension worth about 35% of average earnings.
It adds that the authority should undertake ongoing research into an appropriate level for a decent, basic state pension – which Help the Aged believes would be 25%.
Head of public affairs Mervyn Kohler said: “It is time to get real about pensions. The issue has become too important to be left to politicians, individuals, employers or the industry.”
University College Union (UCU) and Universities UK have appointed Joanne Segars to chair the joint expert panel to examine the valuation of the Universities Superannuation Scheme (USS).
The Pensions Regulator (TPR) was right to use its powers to seek financial support from ITV for members of the Box Clever pension scheme, the Upper Tribunal has said.
All 6,000 UK schemes had a surplus of £361bn by the end of last month when calculated under a best estimate return on their assets, according to First Actuarial.
Research highlights confusion about where responsibility to support members on transfers lies. Kim Kaveh looks at the key findings.