EMPLOYERS could be forced to create new scheme arrangements for life-only members because of the government's misconstrued "half-baked" legislation, warn lawyers.
The problems, they say, have arisen from a section of the Pensions Act which implements part of the Institutions for Occupational Retirement Pro-vision directive which limits occupational schemes to “retirement...
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.