Five stories you may have missed this week
This week's top stories include Smart Pension and Legal & General revealing a prototype demo of their workplace retirement income product, combining drawdown and annuities.
Also, the Scottish Public Pensions Agency requested £18.4m from the Scottish government over the next five years in order to deliver a replacement IT project after its Capita project was cancelled...
More on Industry
Women in Pensions Awards 2020: Virtual ceremony
Professional Pensions is delighted to confirm the Women in Pensions Awards 2020 will be presented at a virtual ceremony on 25 November.
Lifetime allowance to rise to £1.078m in line with 0.5% inflation
The lifetime allowance is set to rise to £1,078,900 from April next year in line with the 0.5% inflation figure.
Schemes must meet three gateway principles for superfund transfers
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
UK pensions system flops in global rankings; Covid-19 puts flaws 'in sharp focus'
The UK has continued to struggle against its peers in an international analysis of pension systems due to continuing concerns over adequacy and sustainability.
Just one in six schemes report long-term covenant damage
Just one in six (16%) of schemes believe the Covid-19 pandemic has weakened their sponsor’s ability to support them in the long term, research by Willis Towers Watson finds.
