The number of defined benefit (DB) scheme members transferring to defined contribution (DC) has more than doubled in a year, Xafinity figures have shown.
The consultancy reported transfers from DB schemes it works with in the first quarter of 2017 were 166% higher than in the same period last year. A total of 117 transfers were made from these schemes...
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.