The Pensions Ombudsman has ordered Abbey Life to pay almost £10,000 to a member for failing to inform her that she had a guaranteed annuity rate (GAR).
The claimant, Mrs Godfrey, joined the scheme – run by Paine Webber International (UK) in 1978 and contributed to it for two years. On retiring in 2004, Godfrey says she was not issued with a retirement...
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.