The Financial Conduct Authority (FCA) will push ahead with its annuity market probe, and investigate if providers' profit margins are ‘high', despite industry murmurings self-regulation goes far enough.
In a paper on transparency, the FCA praised the Association of British Insurers (ABI) for taking a "proactive lead" on annuity transparency - referring to its Code of Conduct and annuity rate tables -...
Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.
Legal & General Investment Management (LGIM) has incorporated ESG considerations as well as its climate impact pledge into the default funds for the 3.3 million members in its master trust and contract-based schemes.
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.