Aegon

As TPR prepares to kick off its first master trust supervisory cycle, Kate Smith explores how the market has changed and may continue to

The pensions industry has raised some concerns around the Financial Conduct Authority’s (FCA) value for money definitions for workplace pensions.

The time flexibility provisions introduced to help schemes which need to report late payments from employers for workplace pension schemes will be revoked, The Pensions Regulator (TPR) has confirmed.

Offerings from Aegon, Aviva, and Scottish Widows have taken the crown in the Financial Technology Research Centre’s (FTRC) annual workplace pensions and auto-enrolment (AE) ratings.

The government has confirmed the minimum pension age will rise from 55 to 57 by 2028 to coincide with the rise in the state pension age to 67.

The impact of the coronavirus pandemic on pension savers in Britain is continuing into the second half of the year, heightening worry around funding retirement and saving adequately.

Pension providers need to look for more innovative ways to improve engagement with their employees, according to Aegon.

The number of savers opting to withdraw a tax-free lump sum from their pension has dropped more than 53% since the start of the coronavirus pandemic, according to the Association of British Insurers (ABI).

Trustees, corporates and consultants have been urged not to “forget the health of their scheme” during Covid-19 and to keep an eye on key member trends.

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.