UK - Pensions minister Malcolm Wicks has joined the Financial Services Authority's financial capability steering group as part of its efforts to boost financial education among consumers.
The FSA steering group is charged with devising a national strategy for providing people with the education, information and “generic advice” needed to make financial decisions.
Other group members include financial secretary to the Treasury Ruth Kelly MP, Abbey National chief executive Luqman Arnold and Prudential chairman David Clementi.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.