Life and pensions underlying profits at Lloyds Banking Group were down 18% to £461m in the first half of the year, latest results show.
The firm, which includes the Scottish Widows operation, blamed the profit dip on the Department for Work and Pensions (DWP) charge cap proposal, announced in the first quarter of the year. It said its...
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.