Aviva

A pension benchmark for future living standards is necessary and feasible if enough attention is given to formulating an accreditation that will work for both employers and employees, the Resolution Foundation says.

The National Grid UK Pension Scheme has completed an £800m buy-in with Rothesay, its second bulk annuity transaction with the insurer.

The pensions industry still trails behind others with its use of technology, writes Holly Roach.

Aviva Life & Pensions has concluded an £875m buy-in with its own staff pension scheme, following on from a similar transaction last year.

The Money and Pensions Service (Maps) will develop a ‘later-life checklist’ to help over-50s who have been affected by Covid-19 and need to plan for their financial future.

This week’s top stories included the Marks and Spencer Pension Scheme completing two buy-ins, while the Work and Pensions Committee submitted an amendment to the Pension Schemes Bill.

The Marks and Spencer (M&S) Pension Scheme has completed two buy-ins with Aviva and Phoenix, insuring a total of £750m of benefits.

PFI’s retirement business, also known as Prudential Retirement, is expanding its global longevity reinsurance business with an offering driven by growth in the UK pensions market.

The £2.3bn withdrawn flexibly from pensions in Q3 represents a 2% year-on-year decrease from monies withdrawn during the same months in 2019, HM Revenue and Customs (HMRC) figures show.

Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.