UK - People want to work, play sport and study at university in their 80s, a new survey by GE Life has found.
The pension provider’s research – which aims to give IFAs a better understanding of the market – shows “major changes” are in store for over-50s in 2030.
Head of demographic studies Michael Stanley said: “Sixty will be the new 40. Over 50s are set to be healthier and more dynamic socially and commercially than any previous generation in their later years.”But he said this meant financial advice would become more complex.
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.