UK - The Pre-Retirement Association has launched a website aimed at educating the public about money and financial management.
The site – www.learnaboutmoney.org – has been set up over concerns that employers and the state continue to pass the responsibility for retirement provision to individuals and due to the low level of financial education among the public.
PRA chairman Peter Brew said: “We have heard a lot of rhetoric from many people about the need for financial education but little has been done.”
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.