UK - Recently retired pensioners in the average occupational scheme will receive just £96 a week, a new report claims.
The UBS Global Asset Management report – Pension Fund Indicators 2004 – says this represents 27% of the total gross income for single pensioners and couples.
UBS said that while the low figure should emphasise the need to save more, the report found disincentives to saving for the lower paid in the tax and social security system.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point