After Chancellor George Osborne cut the annual allowance to £40,000 and reduced the lifetime allowance to £1.25m as part of December's Autumn Statement, the industry was hoping for little change in the Budget.
Yet - while there were no sweeping changes to allowances - there were a number of announcements that could significantly affect workplace schemes. First, the Osborne confirmed the government the single...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.