The Work and Pensions Committee has called for the government to introduce an auto-drawdown option while allowing NEST to offer decumulation products, James Phillips reports
Nearly three-quarters of workers were saving into a workplace pension scheme as of April last year, data from the Office for National Statistics (ONS) shows.
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Collective defined contribution (CDC) schemes will need clear and transparent governance frameworks, as well as effective communication strategies, to be a success, the Work and Pensions Committee (WPC) has been told.
Ensuring British Steel workers were well-equipped to make a decision on their future pension provision was "afforded insufficient priority", and the regulator now needs to review the process, the Work and Pensions Committee (WPC) has said.
The estimated cost of pensions tax relief for employees to the government is expected to hit £24bn in this tax year, according to government data.
The Association of Consulting Actuaries has proposed a 'national flexible ISA' and tax reform to improve intergenerational fairness. Kim Kaveh looks at how these would work
Defined benefit (DB) schemes further upped their allocation to bonds in the year to March 2017, continuing a four-year trend, analysis by the Pension Protection Fund (PPF) has found.
The Bank of England's (BoE) decision to increase interest rates for the first time in over a decade has been welcomed by the industry, yet the move will only be "symbolic" for most defined benefit (DB) schemes.