Over 750,000 scheme members at risk of passing pensions to the wrong person when they die
Hundreds of thousands of people coming up to retirement are at risk of their pension being given to an ex-partner when they die, Royal London research finds.
The insurer estimated that some 773,000 people aged between 55 and 64, who are now in second or subsequent relationships, may be affected by this issue. According to Royal London, the problem arises...
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'True flexibility' in bespoke DB funding code proposal questioned
The true level of flexibility for defined benefit (DB) schemes that take the ‘bespoke’ option laid out in the proposed DB funding code needs further clarification, the industry has said.
Coats Group defers DRCs for remainder of 2020
Coats Group has agreed with its UK pension trustees to defer the payment of its remaining deficit recovery contributions (DRCs) for 2020.
DB transfer values jump to record high in July - XPS
Defined benefit (DB) transfer values continued to increase to yet another record high during July but the number of people opting to exit final salary schemes remains steady, according to XPS Transfer Watch.
Surplus success for tranche 13 schemes
Over a third of defined benefit (DB) schemes with valuations between September 2017 and September 2018 were in surplus, according to data from The Pensions Regulator (TPR).
Quilter doubles redress provision for British Steel pension transfers
Advice giant Quilter has set aside £24m to compensate British Steel workers advised to transfer out of their defined benefit (DB) pensions by Lighthouse, doubling its previous redress provisions.
