SMOKERS quitting the habit will cost defined benefit pension schemes £20bn, research by PricewaterhouseCoopers reveals.
The financial services firm estimates 20pc of smokers will quit – some spurred by national No Smoking Day yesterday (Wednesday) and others by the ban on smoking in public places which comes into force...
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.