News

Defined contribution (DC) default funds remain heavily dependent on the stock market, with the average fund investing 80% of its portfolio in developed market equities, says Schroders.

The Treasury Committee has welcomed "transformational" changes to defined contribution (DC) retirement income announced in this year's Budget.

HR vacancies grew by 15% in the first quarter of 2014 compared to the last three months of 2013.

Prudential has become the latest life company to report severely hit annuity sales in the wake of radical reforms to how people can access their pension.

Barnett Waddingham has been appointed to provide investment consultancy services to the £850m Thomas Cook Pension Plan.

Last year saw a big increase in the number of people attempting to find lost pension pots through the government's Pension Tracing Service, according to official statistics.

The Department for Work and Pensions (DWP) has opened a consultation on proposed changes caused by the abolition of contracting out of the additional state pension by defined benefit (DB) schemes.

Legal & General (L&G) enjoyed a record quarter for bulk annuity business at the beginning of 2014, writing more than £3bn in new business according to the firm's quarterly results.

Imperial Tobacco has agreed a £65m-a-year recovery plan, to eliminate the deficit of the Imperial Tobacco Pension Fund by March 2028.

The combined deficit of schemes at FTSE 350 firms climbed to £111bn in April as falling bond yields and rising inflation expectations cancelled out stock market gains, says Mercer.