All Aviva articles – Page 5
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News
Workers unaware of auto-enrolment contribution hike
On the go: More than a quarter of workers are unaware of automatic enrolment increases taking effect from Saturday, according to Aviva research.
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News
Bulk annuity volumes beat expectations with £24bn in 2018
On the go: Legal & General took the largest share of the bulk annuity market in 2018, accounting for 35 per cent of the sector, in a year when buy-ins and buyouts totalled £24bn.
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News
Savers unfazed by AE contribution rises
Auto-enrolment savers have proved indifferent to a rise in their contribution rates imposed earlier this year, according to research, but the government remains unconvinced by the case for using inertia to tackle low self-employed saving rates.
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News
Only 39% of young savers confident about retirement prospects
Young savers in the UK are in danger of being left in the lurch when it comes to retirement planning, a recent survey has shown, with experts mooting auto-escalation and better financial education as possible solutions to a looming crisis in the decades ahead.
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News
UK employees set to work until they drop
On the go: The number of “early retirees” is at a 23-year low, according to latest employment figures from the Office for National Statistics, signalling that despite vestiges of ageism the older worker is in the ascendant.
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News
Two in five employees are approaching retirement ‘blindfolded’
On the go: Forty per cent of employed 46 to 55-year-olds do not know how much they have saved for retirement, a recent survey has found.
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NewsAviva customers hit by system glitch
Pension provider Aviva has admitted that a number of its customers were unable to access their pension policies on its MyAviva system. The delays have prevented some customers from transferring their pensions.
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News
Bulk annuity volumes break H1 record
On the go: UK pension schemes entered into a record £7.8bn of buy-ins and buyouts in the first half of 2018, as large 'back book' transfers between insurers failed to disrupt the market's capacity.
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NewsFCA recommends investment pathways for drawdown
The Financial Conduct Authority has proposed that pension providers are required to develop three ready-made investment pathways to help confused drawdown customers, but has shied away from imposing a charge cap on the products.
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News
Marks and Spencer scheme completes £1.4bn buy-ins
On the go: Trustees of the Marks and Spencer Pension Scheme have purchased buy-in policies with Phoenix Life and Aviva totalling £1.4bn.
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News
IGC reporting fails to identify value for money
Independent governance committees are failing to adequately report the value for money represented by their respective providers, according to a new report ranking the committees on scrutiny and transparency.
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Opinion
Industry is divided over Royal Mail's CDC proposal
Pressure is mounting on the Department for Work and Pensions to lay regulations for collective defined contribution, after mediation between Royal Mail and the Communication Workers Union recommended lobbying government to facilitate their creation of a CDC scheme.
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OpinionThe pensions industry needs more innovators
In today’s digitally connected world, one in which UK financial services companies compete for consumers’ attention, solely investing in the latest systems and software to incentivise customers may not go far enough.
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News
Income security needed to bolster drawdown products
Drawdown solutions must be improved to offer pensioners greater certainty that their retirement income will last, a panel of specialists told Pensions Expert last week.
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News
Savers prepared to look past charges for returns
Good returns are the primary concern for pension scheme members when assessing value for money, according to research conducted by 11 independent governance committees, with charges sitting outside the top 10 of saver concerns.
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OpinionTrustee liability and black swans
From the blog: The thing about black swans is that until you encounter one, you ignore the possibility that they exist – but in hindsight it’s all too obvious that they do.
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News
Hedged Aviva schemes survive rate cut
Pension schemes sponsored by insurance giant Aviva have reported a marked increase in their accounting surplus owing principally to falling interest rates, but experts warn of further pain for schemes which are not hedged against interest rate risk.
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News
Burgeoning buyout arena threatens pricing, schemes urged to prepare
The growing number of players in the UK buyout market may, counterintuitively, make it more difficult for pension schemes to get quotations from insurers, industry experts have said.
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News
Industry split over capacity crunch severity for mid-sized employers
Fewer medium-sized employers will be turned away by their existing pension provider for auto-enrolment arrangements than their larger counterparts, according to one such provider, as experts disagree on how smaller companies will fare.
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News
Small schemes offered off-the-peg buyouts to speed up derisking
Small schemes will be offered standarised buyouts to decrease the time and cost associated with bespoke bulk annuity purchases, a model that has gained popularity in the buy-in market.