Canada Life

A quarter of savers are more likely to increase their pension contributions if they had a better understanding of the pensions tax relief system, according to research by Royal London.

HM Revenue and Customs (HMRC) has revealed a 6% rise in the amount withdrawn flexibly this quarter versus the same period last year, and a 10% increase in the number of individuals using this freedom.

Defined contribution (DC) contributions were scaled back by 11% in the second quarter of 2020 as the impact of the pandemic set in, according to the Office for National Statistics (ONS).

The BBC Pension Scheme has completed a £3bn longevity swap deal with Zurich and Canada Life Reinsurance, covering the risk of pensioner and dependent members.

The Smiths Industries Pension Scheme has secured a £146m buy-in with Canada Life in its fourth bulk annuity and its sponsor’s tenth overall.

The £2.3bn withdrawn flexibly from pensions in Q3 represents a 2% year-on-year decrease from monies withdrawn during the same months in 2019, HM Revenue and Customs (HMRC) figures show.

Local authority funds must use lessons from the past to continue delivering into the future, says James Stoddart

One in ten UK workers have paused their pension contributions during the Covid-19 pandemic with their absence from the defined contribution (DC) space bringing serious implications for the retirement landscape.

The Hays Pension Scheme has agreed a six-year contract extension with EQ Paymaster to deliver services including GMP equalisation, data cleansing, and address tracing.

This week’s top stories included UBS’ completion of a £1.4bn longevity swap with Zurich and Canada Life, while chancellor Rishi Sunak announced the government’s Kickstart Scheme as part of provisions outlined in the Summer Statement.