The promise of guidance at retirement "does not go far enough" and a new form of retirement-focused advice must be created by the regulator, according to Royal London.
The pension provider said it is essential “mistakes of the past” around annuities are not repeated in the new order post-Budget. It said income drawdown would become more popular in the early stages of...
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.