Aegon

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.

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

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.

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 has launched personalised animated video summaries for its members, in a bid to boost engagement.

The lifetime allowance will rise to £1,073,000 from next April as inflation in the year to September stands at 1.7%.

Some 42% of pension savers think their funds will fall in value as a result of Brexit, with younger savers showing the most concern, according to Aegon.

Legal and General (L&G) Retail Retirement has agreed an introducer agreement within its retirement income division to provide annuities to Prudential customers with guaranteed rates.

Aegon has incorporated ESG into its £19bn TargetPlan defined contribution (DC) default fund for its master trust and group personal pension plan.

Experts have called on the industry to personalise pension communications and expand auto-enrolment (AE) to all workers ahead of the fifth Pension Awareness Day on Sunday.