The government must introduce legislation to force schemes to give data to the pensions dashboard if it is to succeed, an Association of British Insurers (ABI) report says.
Last month, Professional Pensions revealed the trade body was concerned the UK was "too fragmented for a 'coalition of the willing' type approach and felt a legislative or regulatory approach was necessary...
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.