Aegon
Government suffers defeats in House of Lords over Pension Schemes Bill
Amendments to the Pension Schemes Bill passed by peers in the House of Lords last night will see a wide-ranging suite of reforms for the pensions industry draw another step closer.
People reaching pension freedoms age to peak this year
The number of people turning 55 and becoming eligible to use the pension freedoms will hit a peak of 941,000 this year, according to Aegon.
GAD and DHSC increase tax flexibilities for NHS Pension Scheme
Senior clinicians within the NHS Pension Scheme will receive extra assistance to adjust their pension accrual to fit within tax allowances.
TPR publishes Covid-19 pension guidance for employers
The Pensions Regulator (TPR) has published guidance setting out how employers can meet their automatic enrolment (AE) duties as they navigate the effects of the coronavirus pandemic.
Aegon unveils latest IGC report
Aegon’s independent governance committee (IGC) has unveiled its latest annual report – highlighting general good value for money but some concerns over investment and communications.
TPR extends late payment reporting deadlines
The Pensions Regulator (TPR) has temporarily relaxed the timeframe for schemes which need to report late payments from employers for workplace pension schemes.
New delay for contingent charging ban decision
The Financial Conduct Authority (FCA) has postponed its decision on whether to ban contingent charging on defined benefit (DB) transfers by up to six months.
Treasury confirms increase in NI threshold
The government has confirmed it has increased the National Insurance (NI) threshold from £8,632 to £9,500 from April.
Rate cut 'bittersweet' for schemes and savers
The Bank of England’s decision to cut the base rate by 50 basis points (bps) will prove challenging for both pension schemes and retirees, the industry warns.
UK Pensions Awards 2020 - Shortlists published
Here they are. The finalist lists for the UK Pensions Awards 2020.
Chancellor contemplates cuts to higher rate pensions tax relief
Speculation is growing that chancellor Sajid Javid is seeking to raise revenue by cutting the tax relief on pension contributions for high earners from 40% to 20%.
Maps produces financial wellbeing strategy to deliver national goals
The Money and Pensions Service (Maps) has launched a financial wellbeing strategy to address poor financial wellbeing in the UK.
Government announces March Budget
HM Treasury has confirmed that the government will hold its Budget on 11 March.
Global reinsurance trends could raise bulk annuity prices
Increasing demand for global longevity reinsurance could lead to higher bulk annuity prices but less exact matching for longevity hedging, says Mercer.
Private pension wealth grows by £2.5trn over ten years
Private pension wealth has grown to £6.1trn in the last decade up from £3.6trn, Office for National Statistics (ONS) data shows.
AE 'failing construction workers' as just one in four in a workplace scheme
Just 23% of blue collar construction workers are saving into a workplace pension, a Freedom of Information (FOI) request by Unite has revealed.
Conservatives commit to review of taper and net-pay issues
The Conservative party will hold reviews of the tapered annual allowance and net-pay schemes if it is elected back into government, it has said.
Number of women without pensions almost doubles in two years
The number of women in the UK without any pension arrangements has almost doubled from 7% in 2017 to just over 13% in 2019, according to research from Aegon.
DWP annual benefit statement consultation questions voluntary adoption
The Department for Work and Pensions (DWP) has launched a consultation setting out proposals for the adoption and launch of simpler annual benefit statements. Holly Roach reports
Self-employed taking £115,000 workplace pensions shortfall
An individual who moves into self-employment after ten years work will miss out on an additional £115,300 in retirement funds after exiting their occupational pension scheme.
Revamped wake-up packs 'still not enough' for savers
Simplified, one-page pension wake-up packs launched last week, but the industry does not agree that they will make much difference to members’ saving attitudes. Holly Roach reports
Combined Nuclear Pension Plan appoints Redington for DC investment advice
The Combined Nuclear Pension Plan (CNPP) has dropped Hymans Robertson as an investment adviser for its defined contribution (DC) master trust and appointed Redington as a replacement.
40,000 companies fined over auto-enrolment failures
More than 40,000 companies were issued fines for failing to meet auto-enrolment (AE) obligations in 2018, The Pensions Regulator (TPR) has confirmed.
Aegon debuts animated video summaries for members
Aegon has launched personalised animated video summaries for its members, in a bid to boost engagement.
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