News

NETHERLANDS - Pensions and insurance provider Aegon is to cut 5% of its US workforce as part of its latest restructuring plan.

Balanced pooled funds posted a positive return for October with a median of 1.8%, BNY Mellon Asset Servicing statistics reveal.

Alternative investments selected by skilled active managers can provide sources of alpha, but are not de-correlated to other asset classes, Hermes says.

Defined contribution scheme members approaching retirement whose pots are near the lifetime allowance face a conflicting investment decision to best protect future income, Aon Hewitt says.

Individuals whose pension input period is tipped over from 5 April to 6 April next year could be caught unnecessarily by the reduction in annual allowance, a lawyer warns.

The UK has the lowest gross replacement rate in the Organisation for Economic Co-operation and Development for state pensions, the TUC says.

Government must amend legislation and regulation to move away from a culture that punishes companies for doing more than the legal pensions minimum, delegates heard.

Proposed changes to public sector pensions are "unpalatable" as previous cuts have already slashed pots by 25%, delegates heard.

Private sector pension provision in the UK has gradually been "ratcheted down" to inadequate levels and should not be repeated in public sector reforms, Lord Hutton says.

Members of the Work and Pensions Select Committee are going on a fact-finding mission to Brussels next week following the publication of the EU green paper on pensions.