Pensions minister Steve Webb says current at-retirement processes are outdated and asked whether the industry must "do decumulation differently."
Speaking at the launch of the Scottish Widows UK Pensions Report Webb referred to decumulation as "a jigsaw we haven't given enough time to." "Decumulation is something we have made progress on but...
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.