News

The government will change the law to allow the Pension Protection Fund (PPF) to aggregate pensions for the purposes of calculating compensation.

Estimates of the amount of money needed for a ‘modest’ retirement can vary by up to £500,000, according to research from Aon.

Defined contribution (DC) schemes’ visions are generally aligned, but there are mixed views on the power of the default versus member engagement, according to the Thinking Ahead Institute.

HM Treasury has announced that the government’s next Budget will take place on 6 November, although this depends on the outcome of the Brexit negotiations.

The buyout deficit of FTSE 350 pension schemes has reduced by £2.5bn since the introduction of Freedom and Choice due to an increased number of transfer exercises, Barnett Waddingham has found.

A pension schemes bill is set to be laid in parliament in the coming weeks after the government announced a wide-ranging suite of reforms in the Queen’s Speech today.

The Office of Tax Simplification (OTS) has called on the government to review its “complicated” pension tax measures and simplify engagement with the system.

The number of employers and advisers looking to change their pension provider has increased by nearly two thirds this year, according to research by Aviva.

The Pension Protection Fund (PPF) has begun increasing payments to all pensioner members whose compensation falls below 50% of their pre-insolvency entitlements solely due to caps.

This week’s top stories included B&CE entering into a redundancy consultation with staff, and the National Grid UK Pension Scheme completing a £2.8bn buy-in.