The average annual pension withdrawal rate jumped more than one percentage point between 2016/17 and 2017/18, according to the latest data from the Financial Conduct Authority (FCA).
The regulator's retirement income data bulletin said the average withdrawal rate from drawdown or UFPLS (uncrystallised funds pension lump sum) pots - where a regular payment is set up - rose from 4.7%...
Smart Pension and Australian administrator Link Group have entered a strategic global partnership to take their “combined expertise” into new markets in the UK and globally.
Cost savings of up to 20% could be made by pension schemes if they move to a defined contribution (DC) master trust, according to Hymans Robertson analysis.
The former trustee of a charity for the disabled has pleaded guilty to fraud after transferring more than £250,000 from the organisation’s pension scheme.
Just under a quarter (24%) of employees never review their pension which shows a lack of engagement when it comes to retirement is a “real issue”, according to Close Brothers.