Pension savers have accessed almost £5bn from their pots following the widespread retirement reforms - dubbed 'pension freedoms' - introduced in April, while more people are "shopping around" for the best deals, according to the Association of British Insurers (ABI).
Smaller pots are generally being taken as cash, the 250-member body said, while larger pots are still being used to access retirement income, with £5bn invested to buy some 85,000 regular income products...
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.