The Department for Work and Pensions (DWP) is planning to increase the Financial Assistance Scheme's (FAS's) compensation cap for members with more than 20 years' service.
At present, compensation from FAS is limited to £34,229 a year, but the DWP wants this to be increased by 3% for each year of pensionable service over 20 years when people first became entitled to FAS...
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.