The Treasury could net a tax windfall from scheme members who fail to check benefits against their lifetime allowance, Standard Life claims.
It believes administrators may decide to deduct a lifetime allowance charge of 25pc on every member who reaches the age of 75 without taking benefits to comply with HM Revenue & Customs advice. HMRC...
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.