Pension drawdowns are becoming "increasingly common", according to Just Group's Stephen Lowe, as the latest HM Revenue & Customs (HMRC) figures show £2bn was withdrawn from pension schemes in the third quarter of 2018.
The £2bn drawn down between July and September means £5.9bn has been withdrawn through 1.66 million payments so far this year. As a result, 2018 is on track to exceed 2017, when 1.67 million withdrawals...
Evolve Pensions has launched a new member website called Evolink for its Crystal master trust, which includes additional online functionality to its previous system.
Metropolitan Thames Valley Housing (MTVH) is planning to set up a defined contribution (DC) pension arrangement to provide future benefits for current employees and new joiners through auto-enrolment (AE).
Ten master trusts will pay at least 25% of the total general levy despite holding just 2% of assets, according to The People’s Pension (TPP).
The People’s Pension’s (TPP) plans to overhaul its charging structure have been delayed following system testing issues.
The Pensions Administration Standards Association (PASA) has published its first batch of guidance on defined contribution (DC) master trust transition, as further consolidation is expected.