Responding to the Department for Work and Pensions consultation, which explores ways to facilitate early dispute resolution, Samantha Brown, pensions partner at Herbert Smith Freehills, argues in favour of the Ombudsman's representative having a role in dispute mediation.
Published: 22 January 2019
There’ll be winners and losers from this new type of CDC pension scheme that collectively pools everyone together. The Government must ensure any new schemes will be flexible enough to cope with the demands of the retire-as-you go generation and their modern working patterns.
Published: 16 January 2019
In the six months to March 2018, sales of annuities worth between £10,000 and £30,000 were 26.8 percent down to 9,143 in just two years. Sales of annuities worth between £30,000 and £50,000 had also plummeted 27.7 percent to 6,243.
Published: 11 January 2019
EMW says businesses were fined £42m in 2017/18 for pension auto enrolment errors, up more than threefold from £12.6m in 2016/17. EMW explains that the rise in the number of fines is partly due to the expansion of the auto enrolment pension regime to cover smaller businesses (fewer than 50 employees).
Published: 10 January 2019
Pension reform in recent years can be summed up as good progress but still lots to be done. We know a key to increasing contributions is good employee engagement; research has shown it is already possible to get over half of employees to increase their savings voluntarily, just by talking to them effectively.
Published: 28 December 2018
As the debate over default pathways at-retirement continues, please see comments below from Jonathan Watts-Lay, Director . “I find the idea of defaulting members into something without a positive choice being made extremely worrying for a number of reasons.”
Published: 8 December 2018
In this year’s budget we want to see changes that will benefit those who need most to boost their retirement savings and simplify the savings landscape, including a reform of pensions tax relief, the removal of the net pay anomaly, and the scrapping of the Lifetime ISA.
Published: 29 October 2018
A raft of regulatory, competitive and market developments have drastically altered the environment for the trustees and sponsors of defined benefit (DB) pension schemes, offering substantially more options for how to approach the “endgame” of running off the scheme and delivering pension promises to members.
Published: 27 October 2018
Three quarters of retirees with pension pots have no reserves to see them through a sustained stock market tantrum, according to a survey conducted by retirement specialists Responsible Life. The UK economy could be heading for its worst year for growth in almost a decade as uncertainty over Brexit lingers.
Published: 26 October 2018
Mercer’s 2018 Valuation Survey shows a significant rise in the number of schemes in surplus on funding assumptions: 37 percent compared to 27 percent in the 2015 Survey. Integrated Risk Management (IRM) has become a key part of trustees’ decision-making processes. Life expectancy remains the great unknown risk for many pension schemes.
Published: 17 October 2018