Royal Mail launches UK’s first collective defined contribution pension scheme
The scheme will offer more than 100,000 Royal Mail employees a cash lump sum and an income in retirement.
Government to fast-track plans to boost access to CDC pensions
CDC pension schemes, first introduced to the UK in 2022, enable savers to pool their money into a single fund to share investment risk and longevity risk.
Pre-Budget speculation “chips away at people’s confidence in pensions” – AJ Bell
Michael Summersgill urged the Chancellor to use her first Budget to commit to long-term stability in the pension tax system.
The Gender Pension Gap: How to overcome it -Royal London
Royal London’s research into workers’ retirement savings habits shows that pension contributions differ significantly by age, job type, and income. The one consistent is that the gender pension gap impacts women at every stage of their career, leaving them worse off in retirement.
Overtime pay could boost retirement income by £125,000 – Standard Life
Some industries, like manufacturing and construction, routinely offer paid overtime at typically 1.5-times the normal rate of pay, potentially creating a sizeable extra pool of earnings to dip into.
DWP Minister reiterates desire for roadmap to pension contribution increases
Sir Stephen Timms MP said he would like to see the Government set out a timetable for increasing pension contributions from their current 8% minimum.
Pension annuity comparison quotes continue to hit new highs in 2024, says iPipeline
In the first six months of 2024, quotes for annuities were up 12%, compared to the same period in the previous year.
Moneyfarm launches Find, Check and Transfer pensions service
The new service aims to allow both new and existing Moneyfarm clients to set up FCT requests to locate their lost or old pension schemes, providing a crucial tool for financial planning and security.
Greggs Pension Scheme completes £100m buy-in with Aviva
Greggs provided additional funding support which facilitated the buy-in, increasing the long-term security of all members’ benefits.
TPR sets out capital release expectations for pension superfunds
The position in the updated guidance aims to support innovation while retaining protection for scheme members.
Young people plan to work part-time in retirement to boost pension savings
Almost half of 18- to 24-year-olds plan to work part-time in retirement, potentially adding up to £88,000 to their pension pots, according to Standard Life.
£106m in redress offered to former British Steel Pension Scheme members
Over £106m in redress has been offered to 1,870 former British Steel Pension Scheme members, with support for more than 6,500 members provided by FOS, FSCS, and the redress scheme.
