The government must do more to encourage employers and employees to increase contributions to pension schemes, says incoming Association of Consulting Actuaries chairman David Fairs.
The Financial Services Consumer Panel (FSCP) has urged schemes to develop in-house income drawdown propositions rather than forcing members into the retail market.
Schemes can expect to get clarity as to what the guidance guarantee entails by the end of the year according to pensions minister Steve Webb.
Standard Life has said its sales of annuities have fallen by half following changes to the rules around retirement announced in last month's Budget.
The cost of providing the guidance guarantee will fall on schemes according to pensions minister Steve Webb.
Is focused advice a viable option?
Consumer group Which? has shelved plans to launch an annuities advice service following the far-reaching changes announced at Budget 2014.
Enough with the tinkering, says Jonathan Stapleton
Jonathan Stapleton looks at the impact of the Budget on DC defaults
With an overhaul in childcare funding among a raft of ‘family-friendly' proposals announced by the government, where does this leave employers and staff who are working parents? Hannah Uttley investigates.