Almost 4,000 members of the Financial Assistance Scheme have had their benefits reduced after overpayments resulting from administrative errors.
Responding to a written parliamentary question, pensions minister Steve Webb said 3,881 people were repaying money to the scheme, with 3,846 of these having their benefits cut to take account of the overpayment....
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).