Over 60% of DB schemes to be fully funded within three years
Around 62 per cent of DB schemes are now expecting to be fully funded for buyout within the next 3 years, according to XPS Pensions. An XPS Pensions Group survey of over...
Pensions
WorkLife partners with Smart Pension
WorkLife by OpenMoney has partnered with Smart Pension to offer SMEs more accessible access to low-cost workplace pensions, which they can access at a preferential rate through WorkLife. The partnership offers SME...
Industry welcomes DWP plans to extend CDC
Government plans to extend collective defined contribution (CDC) schemes have received widespread support from the pensions industry, with the Association of Consulting Actuaries calling for this to be a legislative priority over...
Ethnic minorities save less for pensions but plan to retire earlier: research
Phoenix Group is urging industry leaders to reconsider communication and engagement strategies with ethnic minority customers to bridge the retirement funding gap in communities. New analysis by Phoenix Insights reveals ethnic minorities...
DWP urged for final plans on DB funding regime – LCP
Department for Work and Pensions (DWP) urged to promptly disclose final plans for the new DB funding regime. Two consultations, one conducted by the DWP and the other by the Pensions Regulator...
Fidelity International appoints strategic relationship director
Fidelity International has appointed Chloe Tron as strategic relationship director. Tron joins from Aviva, where she was a client relationship director, to Fidelity in March 2023. Her background in financial services spans...
BoE hikes interest rate to 4.25pc – industry reaction
The Bank of England has raised interest rates to 4.25 per cent making the rise the 11th consecutive hike since December 2021. Standard Life managing director for customer Dean Butler says: “Today’s...
Collapse in pensioner spending power – ONS
The average weekly income for retired couples decreased from £817 in 2020–21 to £791 in 2021–22, a decrease of £1,352 annually, according to the latest ONS data on pensioner incomes. Over the...
SPP calls for proportionality to TPR DB funding consultations
The Society of Pension Professionals (SPP) has responded to The Pensions Regulator's (TPR) two consultations: the consultation on the draught defined benefit (DB) funding code of practice and the consultation on "fast...
Master trusts or GPP?
Group personal pension plans (GPPs) and master trusts have both had their periods in the spotlight in recent years. Structurally, there are deep differences between the two approaches, but as part of...
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