The decision to increase public sector employee pension contributions is expected to net the Treasury an extra £2.9bn in 2014-15, according to official figures.
This exceeded the government's initial estimate of savings worth £1.8bn from the hike in contributions, which was first outlined in the 2010 Spending Review on recommendations made in the Hutton Report....
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.