The pension deficit of the UK’s top 350 companies has almost halved from £62bn to £35bn, now accounting for just 17 percent of total profits, compared to 70 percent 18 months ago. This bucks the trend since 2011 where deficits steadily increased as a proportion of pre-tax profits from a low of 25 percent.
Published: 11 August 2018
Defined benefit (DB) pension failures have hit the news headlines recently bringing the support that members receive under the spotlight. WEALTH at work is calling for more to be done to protect members from the risks around DB pension transfers. Jonathan Watts-Lay comments on what schemes, trustees and employers could do better.
Published: 4 July 2018
"Responding to the Department of Work and Pensions’ consultation, Pension trustees: clarifying and strengthening investment duties “Whilst the proposals may be eye-catching at first glance, the content of the proposed regulatory changes is somewhat more modest.
Published: 30 June 2018
Department of Work & Pensions data on pension participation is out and The average amount paid into pension by workers has fallen to an all-time low. The annual amount now stands at £3,873 per eligible saver in the private sector. The number of self-employed saving into a pension is falling, down to 14% from 30% only ten years ago.
Published: 8 June 2018
We began charting the best annuity rates available on 27th May 2003. We’ve looked at how buying secure pension income compares now with 15 years ago. The last 15 years has seen a seismic shift in how we leave work and draw income from our pensions.
Published: 30 May 2018
Finance Directors need to look at how pension freedoms are impacting accounting costs and the financial position of schemes. Xafinity Punter Southall, the largest pensions consultancy in the UK specialising solely in pensions, investment and administration services has revealed that pension freedoms could cost UK companies £25bn.
Published: 30 April 2018
The peak levels of interaction with members come at the beginning, when they first enter the scheme and then when they are preparing to retire. Whilst this is understandable to a point, as they are the key points where understanding and interaction are required, this does not mean that the period of membership in between is just a pathway to follow that requires no direction.
Published: 27 April 2018
The RSA has published a report on retirement saving for the self-employed, titled ‘Venturing to Retire’. The lead proposal is for reform of pension taxation in favour of a flat rate top up from the Government set at 30 percent. Contributor Tom McPhail, Head of policy - Hargreaves Lansdown
Published: 22 April 2018
The number of pensioners living in poverty in 2050 could be 700,000 higher if the triple lock for the state pension is scrapped, a new report has warned today (Wednesday). The research – carried out by the Pensions Policy Institute – estimates that getting rid of the triple lock could lead to nearly 3.5 million older people facing poverty in 2050, compared to 2.8 million if it remains in place.
Published: 22 March 2018
Following today’s (Monday 29 January) revelation that Carillion’s pension deficit is at least £990 million, Unite, the UK’s largest union, is calling for all possible legal avenues to be explored to recoup money and for the introduction of stronger laws to prevent future scandals.
Published: 3 February 2018