Pensions Buzz

The idea of doing away with tax-free lump sums was roundly rejected by Buzz respondents.

There was not a huge amount of support for the Centre for Policy Studies' (CPS) report calling for the Local Government Pension Scheme (LGPS) to put most of its money into passive funds.

This week Buzz respondents defended tax-free lump sums fiercely.

This week, respondents cautiously back the reduction of older workers' hours to support the young, and say the under-30s have no idea about retirement income.

More than three quarters of respondents believed the FRC should wade into the charges debate and force fund managers to own up.

In general, the Buzz respondents despaired of the under-30s and their extremely loose grasp of retirement income.

Almost half of this week's respondents were unsure if annuity brokers charge too much, while a third said they did and a fifth said they did not.

Just over half of participants said employers should be able to cut older employees' hours to help recruit apprentices, whereas around a third said they shouldn't.

This week respondents give their thoughts on which defined ambition options will appeal to businesses, large and small.

Target date funds (TDF) are the most popular option among Buzz respondents for making defined contribution (DC) saving more predictable.