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.
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.