News

The pensions schemes bill will digitalise pensions and provide savers with greater confidence for retirement, Guy Opperman has said.

Asset manager BNP Paribas has been awarded a private credit mandate by Nest following a competitive open tender.

The number of members to have ever used NEST rose by 28% over the 2018/19 fiscal year to 31 March, according to its research arm, NEST Insight.

The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.

The Pensions and Lifetime Savings Association (PLSA) has unveiled a retirement living standards tool to help members engage with their pension and set retirement targets.

The Pensions and Lifetime Savings Association (PLSA) will play a more proactive role in bringing people together and act as captain of the industry, its chief executive Julian Mund has said.

The lifetime allowance will rise to £1,073,000 from next April as inflation in the year to September stands at 1.7%.

The Kent Pension Fund has reassured members that the closure of Woodford Investment Management will not affect its ability to pay benefits.

Schemes with poor record keeping should be handed harsher punishments, say the majority of this week’s 83 Pensions Buzz respondents.

LEBC’s majority shareholder B.P. Marsh & Partners has reduced the valuation of its holding in the group by 33%, following its withdrawal from the defined benefit (DB) transfer market.