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.
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb when she officially resigns at the end of February.
The Reuters Pension Fund has completed a £625m full pensioner buy-in with Canada Life in the insurer's largest ever deal.
Anthony Arter will continue as head of The Pensions Ombudsman (TPO) until 31 July 2021, the Department for Work and Pensions (DWP) has announced.
The Nottinghamshire County Council Pension Fund has hired Kames Capital to run a £22m property mandate.