Businesses who use a net pay arrangement for defined contribution (DC) funds should reconsider enrolling their lowest earners into that scheme, Baroness Ros Altmann has said.
Employees earning less than £11,500 - the personal tax allowance - will miss out on a 25% government bonus, provided via tax credit, if they are put through this system, the former pensions minister said....
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.