The Pensions Regulator (TPR) has issued four escalating penalty notices carrying a daily fine of between £50 and £10,000 against businesses that have failed to comply with their auto-enrolment (AE) obligations.
But industry experts have called for the watchdog to provide more insight into why the notices have been issued in order to improve compliance going forward. Figures from the regulator also revealed...
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.