UK - Nearly two-thirds of pensioners rely on occupational pensions as their main income, Department for Work and Pensions statistics show.
The DWP’s report – The Pensioners’ Income Series 2000-01 – shows that 60% of pensioner units receive an average of £114 per week from company pension schemes.
In 1979 only 40% of pensioner units – defined as couples or single people receiving pensions – took income from occupational schemes, a figure that rose to 57% in 1996-97.
Further statistics show that 72% of couples receive an average of £154 per week from company schemes, while 52% of single pensioners receive an average of £79 per week.
Average pensioner income from all sources was £281 per week for pensioner couples and £136 per week for single pensioners.
Industry experts are calling on the government to act quickly on new pensions dashboard legislation. The DWP is looking at how to do it amid Brexit constraints, writes Kim Kaveh.
An interactive and hands-free technology that allows savers to track how much they have invested into their retirement pots has been launched by Smart Pension.
The Lighthouse Pensions Trust has recorded an 84% surge in the number of employers signed up to its auto-enrolment (AE) provision.
Melrose Industries's UK defined benefit (DB) schemes had a £5.5m combined deficit at the end of 2016, its annual results have revealed.