UK - Insurers have set out a 10-point plan to avert a "full-scale pension crisis".
The Association of British Insurers launched its manifesto – Better Pensions for All – at a Labour Party conference fringe meeting.
- Reforming state pensions.- Allowing employers to promote schemes.- Considering tax incentives for firms that contribute to a pension scheme.
ABI director general Mary Francis said: “We need a long-term strategy and more action now to start the process of reform.
“We want to see a big push to promote pensions via the workplace, and to help employers to do more.”
The ABI also said research showed only 15% of the public trust the government not to let them down over pensions.
The poll – carried out by YouGov – also found only 4% of people were very confident they would have enough money to live comfortably in retirement.
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.