UK - Scottish Life has called for retrospective simplification to pension rules in its submission to the House of Commons work and pensions select committee inquiry.
Head of pensions strategy Steve Bee said: “The plethora of tax rules and regulations currently applying to the many forms of pensions available to people in the UK acts against the interests of those it sets out to help.
“It is our belief that these rules should not only be simplified but that such simplification should be retrospective.”
Kim Gubler says it is time that schemes and administrators reassess SLAs and look at what real people need from their pension schemes and when
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
Funding standards for DB schemes have increased exponentially over the past decades. Con Keating says such significant overstatement of liabilities will lead to pushback through the courts.