Tax-free lump sum pension withdrawals halve during Covid-19
The number of savers opting to withdraw a tax-free lump sum from their pension has dropped more than 53% since the start of the coronavirus pandemic, according to the Association of British Insurers (ABI).
This is one of many pension protection measures noted during lockdown as savers face a volatile market and rising unemployment prospects. Comparisons between April 2019 and April 2020 from the ABI found...
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Five stories you may have missed this week
This week’s top stories included the launch of Punter Southall’s defined benefit scheme consolidator, while The Pensions Regulator laid down three ‘gateway principles’ for superfund transfers.
Sole trustees will want to shout about our code
Escalating standards for sole trustees will become a norm for reputable firms, even if they are voluntary, says Nigel Hill.
Exclusive: APPT sets out sole trusteeship code
Sole trustees will be expected to assess whether to report to The Pensions Regulator (TPR) if they are removed, or resign, from an appointment because of sponsor’s actions.
CMI: Mortality remains in line with pre-pandemic trends
Overall mortality remains in line with pre-coronavirus trends despite a recent increase in Covid-19 related deaths, according to the Continuous Mortality Investigation (CMI).
ITN Pension Scheme renews fiduciary appointment with Aon
Aon has been re-appointed by the £400m ITN Pension Scheme to provide fiduciary management services.
