Active membership of defined benefit (DB) schemes has remained stable in the last year dropping by just 3.4% according to the Purple Book.
ECB’s decision to cut deposit rates suggest interest rates may stay low
Fewer than ten life companies will have conquered the market by 2020
The euro shot up against all major currencies after the European Central Bank (ECB) cut deposit rates to -0.3% and extended its asset purchasing programme.
The number of people transferring out of defined benefit (DB) schemes each month doubled over the last year, according to figures from Xafinity.
Two out of three people believe they will have to work past 65, mainly because they do not expect to have enough money to retire, research finds.
Deficits of UK defined benefit (DB) schemes rose £36bn to £264bn last month as a result of falling interest rates, figures show.
Research from The Pensions Institute predicts the demise of many life companies, while assets under management (AUM) are expected to double to £550bn
Regulator code aims to simplify legislation for trustees
ACA chairman David Fairs says any change to tax relief must be well thought out, long-lasting, and encourage people to save