Employers seeking to reduce costs should consider explicitly targeting employee benefits in a bid to mitigate the unintended consequences of pay cuts on pensions, a HSBC Actuaries and Consultants report says.
The consultancy firm said the consequences of a pay freeze or pay cuts on benefits could include a reduction in pension contributions where these are linked to salary and a reduction in final pensionable...
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.