British businesses have ploughed £200bn into defined benefit (DB) pension contributions over 15 years to avoid a drop in pension funding levels, according to a report from Lane Clark & Peacock (LCP).
The pensions freedoms rules should be amended to allow savers to access their 25% tax-free lump sum and leave the rest invested in their pension, Lane Clark & Peacock (LCP) has urged MPs.
Lane, Clark & Peacock (LCP) is set to become one of the largest pension consultancies in Germany following its acquisition of Aon’s retirement and investment business in the country.
Millions of workers are set to face “life changing retirement shortfalls” as lower growth forecasts could wipe a third off pot values, according to Lane Clark & Peacock (LCP).
The Prudential Insurance Company of America (PICA) has concluded a £6bn longevity reinsurance deal, with Zurich Assurance acting as an intermediary on a pass-through basis.