Women using drawdown can expect to receive £47,000 less in their pension pot over a typical 20 year retirement period, according to Zurich.
The firm's research showed men in drawdown had an average pension pot of £212,000, which, with 3% annual investment returns, could secure an annual income of £6,360. In contrast, women had an average pension...
Low member engagement, poor scheme governance, and multiple pots can be equally as detrimental to defined contribution (DC) funds as opaque charges and high costs, research finds.
The Pensions Management Institute's (PMI) Master Trust Working Group is inviting pension experts to participate in four workstreams to tackle barriers to good service delivery and positive member outcomes.
Willis Towers Watson has published a report looking at DC trends over the past year. Kim Kaveh looks at the findings.
NEST, Aegon Master Trust, Ensign Retirement Plan, Creative Pension Trust and the Baptist Pension Scheme have been authorised by The Pensions Regulator (TPR).
Professional Pensions has compiled a list charting the progress of master trust authorisation. View our list in full here...