Pension savers have held off from making changes to their pensions despite nearly half having been impacted by the pandemic, research finds.
Pension companies must be given the power to trigger an “urgent regulatory response” to savers at risk of fraud, while regulators should be able to override the right to transfer, The People’s Pension and The Police Foundation have said.
Law enforcement, financial regulators and the private sector need to do much more and work together to protect savers from fraudsters, says Phil Brown.
Pension fund savers switching out of their default funds and making their own investment decisions could face a cut in their final pot value of up to £247,000, research has found.
Gregg McClymont says AE schemes make it easy to opt-out should members feel contributions are not in their best interest
The People’s Pension (TPP) has appointed Baroness Jeannie Drake and Mark Condron to its board of trustees.
B&CE, the provider of The People’s Pension, has furloughed just under a quarter of its members of staff in response to pressures from the Covid-19 crisis.
Guy Opperman has confirmed the earnings trigger for auto-enrolment (AE) will remain at £10,000 following this year’s annual review.
The Money and Pensions Service (Maps) has launched a financial wellbeing strategy to address poor financial wellbeing in the UK.
The Pensions Management Institute (PMI) has launched a mentoring and development programme, which it will deliver in conjunction with the Institute of Leadership and Management (ILM).