The majority of savers under the age of 45 are unaware of the amount of income they can expect from their pensions when they retire, according to Standard Life.
In a survey of 2,018 people, the insurer found 79% of under-45s with a pension did not know how much they would receive in retirement, with 74% also unaware of the value of their pension investments. ...
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.