UK - Pension review progress has received a further boost with new figures released today showing three quarters of the review is now complete with offers made to consumers so far amounting to £8bn in total.
John Tiner, consumer investment, insurance director at the Financial Services Authority said: Even though there are nearly one million people who have received compensation, firms must keep their shoulder to the wheel and ensure they make offers and settle redress to the 215,000 people still outstanding, and that they do this fast.
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).