The state pension should be replaced with private defined contribution (DC) schemes to give people more control of their retirement incomes, the Institute of Economic Affairs (IEA) says.
It would also encourage people to work for longer at a time when life expectancies are increasing, the IEA claimed in its Income from work - the fourth pillar of income provision in old age paper. It...
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.