News

KAS Bank has hired Rebecca Pitts as a business development manager in its UK office.

Collective defined contribution (CDC) schemes are the "best means" for achieving the right balance between collective benefit security and individual freedom and choice, the Work and Pensions Committee (WPC) says.

The Pension Protection Fund has seen its funding level improve by 1.2 percentage points, after enjoying above target returns in a year when it took on pension schemes of big corporates like Carillion.

The number of investigations by The Pensions Ombudsman (TPO) have increased by over a quarter driven partly by a sharp rise in the number of transfer complaints received during the past financial year.

The Pensions Regulator (TPR) missed one of its 19 performance targets over the last year, it confirmed in its annual report and accounts.

An overwhelming majority of this week's Pensions Buzz respondents agreed with the Pensions and Lifetime Savings Association (PLSA) that national retirement income targets should be developed to help people understand how much to save for retirement.

This week's top stories included the Insolvency Service disqualifying four pension directors from running companies for a total of 21 years for their role in the businesses' mismanagement of member funds.

A consultation on a cold-calling ban will be published "imminently", the government has said as it laid out plans for the policy.

The government has backed down from its calls for mutual regulatory recognition post Brexit and will now push for a deal that will see UK and EU financial services firms' access to each other's markets scaled back when the country leaves the bloc.

The government should extend its support for schemes seeking to reconcile guaranteed minimum pension (GMP) records until October 2019, Willis Towers Watson has said.