Guaranteed minimum pension (GMP) reconciliation has been on the agenda for most contracted out defined benefit (DB) schemes for some time now. But with the end of contracting out less than two years away the issue has taken on a new urgency.
HM Revenue and Customs (HMRC) will begin winding up its reconciliation service from April 2016 and support for schemes will be very limited from after 2018. At this point it will write to all members with...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.