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.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.