AE

The government will pay out £21bn in income tax relief for pension contributions this tax year, while national insurance relief payments will rise to £18.7bn, according to statistics from HM Revenue and Customs (HMRC).

Defined contribution (DC) savers should not have their choices limited when it comes to savings plans and retirement decisions, a majority of this week’s 93 Pensions Buzz respondents say.

The Association of Consulting Actuaries (ACA) has called for five key policy measures to be included in the upcoming pensions bill.

A narrow majority of this week's 108 Pensions Buzz respondents said there was no need to make workplace pension scheme membership mandatory.

Work and pensions secretary Thérèse Coffey has reaffirmed the Department for Work and Pensions’ (DWP) pension commitments just over three weeks after taking office.

Britain is not alone in the challenge of getting people to save for pensions, according to the Organisation for Economic Co-operation and Development (OECD).

The government must take action to build on the successes of auto-enrolment (AE) and ensure coverage and contribution rates are increased, the Association of Consulting Actuaries (ACA) says.

There has been no evidence to suggest that a “significant number” of people have opted out of their pension scheme after the final contribution rate hike, The Pensions Regulator (TPR) has said.

Retirement confidence is on the rise, with more than half of savers yet to retire feeling they will be able to do so comfortably, according to research by Aegon.

Finance and insurance professional's employer pension contributions average 9.5% - the highest among 17 industries offering defined contribution (DC), according to Profile Pensions.