Early exit charges for members wanting to access their pot at age 55 will be capped at 5% according to Standard Life.
The first report from the firm's independence governance committee (IGC) revealed the insurer had introduced the cap as of 13 January. Some 6,597 members aged 55 or over would have paid a higher charge...
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.