PPI

A group of thirty international pension experts has challenged the Pensions Policy Institute's claim that planned reforms will significantly reduce the gap between public and private sector pensions.

The government's proposed reforms to public sector pension schemes will cut the average benefit for members by more than a third, the Pensions Policy Institute says.

The Pensions Policy Institute has appointed nine new governors, including Hargreaves Lansdowne head of research Tom McPhail and RPMI managing director administration Robert Branagh.

In fewer than eight years there will be just one million defined benefit savers in the UK, while defined contribution schemes will cover 16 million workers, the Pensions Policy Institute predicts.

Large scale defined contribution schemes such as the National Employment Savings Trust could be run on a collective basis in future, the Pensions Policy Institute says.

The Pensions Policy Institute has appointed Michael Pomery as its chairman.

New Zealand's experience with auto-enrolment shows employers and employees tend to contribute at the minimum rate set by legislation, according to a report.

Public services risk losing £3.4bn a year from budgets if contracting-out is removed as part of a switch to a single-tier state pension, a report reveals.

Just 2% of retirees in the UK will have enough money to meet the government's new minimum income requirement and use flexible drawdown arrangements, research shows.

The Hutton Report has been welcomed by the industry, which claims it could increase pensions for the low paid, but left unions warning of industrial action.