The DCIF has published a report looking into how providers and members are responding to Freedom and Choice nearly five years on. Kim Kaveh explores the findings.
The buyout deficit of FTSE 350 pension schemes has reduced by £2.5bn since the introduction of Freedom and Choice due to an increased number of transfer exercises, Barnett Waddingham has found.
The lack of defined benefit (DB) scheme members' understanding of their retirement decisions is a key concern for trustees and sponsors, according to survey conducted by Aon.
Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.
Aon has revealed defined benefit (DB) schemes are offering more support to members in their decision making at retirement, with one in five schemes now including personalised transfer value figures in retirement packs and making online tools available....
XPS Pensions Group has revealed 70,000 defined benefit (DB) members are exercising pension freedoms each year, suggesting more education is needed to ensure better member outcomes.
Members of occupational pension schemes claimed £4.3bn in pensions tax relief in 2017/18, as total relief climbed £1.1bn.
Smaller schemes should be given more time to prepare data for the pensions dashboard while larger counterparts should be brought on earlier, this week's Pensions Buzz respondents say.
More than one million people aged over 55 are now subject to harsher pension contribution limits as a result of using the pension freedom rules, Just Group research has found.
HM Revenue and Customs (HMRC) has taken over £400m too much in tax from savers accessing their pensions since the introduction of Freedom and Choice in 2015.
Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.
Capping the pension tax-free lump sum at £40,000 would raise £2bn a year for the government, new research by the Resolution Foundation suggests.
Pension drawdowns are becoming "increasingly common", according to Just Group's Stephen Lowe, as the latest HM Revenue & Customs (HMRC) figures show £2bn was withdrawn from pension schemes in the third quarter of 2018.
The UK must do more to address its ageing demographics, says Mercer, as its global pension index shows the country static in its rankings.
Pension freedoms could generate as much as £1.9bn a year in tax revenue for the next 10 years, according to research by the Pensions Policy Institute (PPI).
Just under 20% of firms know of one or more employees that have been victims of a pension scam, a Barnett Waddingham study has found.
This week's stop stories including British Airways' pension scheme members demanding a meeting with trustees over the time taken to decide whether to appeal a recent court judgment.
A record £2.3bn was withdrawn from pensions under Freedom and Choice in the second quarter of this year, according to HM Revenue & Customs (HMRC).
One in 10 of this year's retirees will take their entire pension pot as a lump sum, Prudential's 'Class of 2018' research finds.
Some 95% of defined benefit (DB) trustees and sponsors are concerned about the consequences of members getting inadequate support for their retirement options, according to Hymans Robertson research.
In this week's Pensions Buzz, we want to know if you think it is fair that The Pensions Regulator can seize assets from fine dodgers, and how schemes should deal with pension overpayments from contracting-out discrepancies.
HMRC figures published on Friday suggest almost £17.5bn has been flexibly withdrawn since the inception of pension freedoms, but that figure is not reflective of 'the bigger picture', according to one industry expert.
Savers are not squandering their tax-free lump sums under Freedom and Choice but are taking a more cautious approach to retirement, according to Prudential research.
The Treasury has reaffirmed its decision against rolling out freedoms to the annuity market, arguing it would be impossible to balance consumer protections with a functioning market.