All News articles – Page 234
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NewsLords want default guidance for pension savers
The House of Lords added more pressure to the government on Tuesday as a Liberal Democrat-led amendment to the Financial Guidance and Claims bill was passed by 283 to 201 votes.
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Divorced women lose out on £5bn in pension payments each year
Scottish Widows research has found that divorced women are missing out on £5bn in pension payments each year, as experts highlight the need for women to take professional advice on pensions during the divorce process.
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NewsFujitsu could see more strikes in jobs and pensions dispute
Union Unite is preparing to reballot employees at ICT company Fujitsu on strike action, in a long-running dispute that – among other things – involves a change to the ICL defined benefit section’s late retirement factor.
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NewsEquity release plans hit record levels
The value of equity release plans surged past £800m in a single quarter for the first time in Q3 2017. The 9,905 new plans agreed between July and September represent a 34 per cent rise from Q3 2016.
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DC schemes to give members cost information online only
Defined contribution schemes should disclose costs and charges to members by signposting a link in their annual benefit statement, the Department for Work and Pensions has proposed, as the industry agrees communications need to be kept simple.
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DWP draft regulations to open up DC consolidation
The Department for Work and Pensions has attempted to smooth the path towards consolidation of defined contribution arrangements with draft regulations published on Thursday.
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NewsGovernment defeated over delays to cold-calling ban
The government was defeated in the House of Lords on Wednesday night by an amendment to the financial guidance and claims bill, which sought to bring forward plans to ban pensions cold-calling.
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Employer-hired IFAs could solve member DB transfer advice struggle
Sixty-one per cent of employers say members are having difficulty in finding advisers for pension transfers, a new survey has found, as experts highlighted the need for companies to engage independent financial advisers on behalf of scheme members.
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Large scheme admin transitions show need for careful planning
Administration system transitions can be risky, but this has not stopped one of the industry’s largest taking place next month, while other schemes are outsourcing their services in an increasingly competitive environment for in-house teams.
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Experts call for tempering of freedoms
The UK pension system lags many of its European peers in a report out this week, which recommends restoring the requirement to take savings as an income stream.
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NewsOpperman discloses timetable until spring
PLSA Annual Conference 2017: Pensions minister Guy Opperman provided some clarity on timescales for the dashboard and progress on the creation of a single financial guidance body in a speech at the Pensions and Lifetime Savings Association’s annual conference.
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PPF consultation on contingent assets will create 'winners and losers'
The Pension Protection Fund has responded to concerns about ambiguity in the wording of its contingent asset agreements, with the launch of a consultation to examine the role of such assets in calculating the PPF levy.
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NewsRecreation and retirement do not go hand in hand, say experts
PLSA Annual Conference 2017: The association between retirement and a luxurious lifestyle of holidays is financially unsustainable and should be challenged, say experts, as the industry considers how to improve saving rates.
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NewsAE review: Consensus on solutions is still lacking
PLSA Annual Conference 2017:Despite unanimity on the need to increase coverage and boost contributions, there is still a distinct lack of consensus on exactly how to address these issues, according to independent advisers on the government’s auto-enrolment review.
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NewsFCA: Half of UK adults show signs of financial vulnerability
The Financial Conduct Authority’s largest survey of UK consumers’ financial habits has identified concerns around financial resilience and undersaving, as experts urge improvements to the auto-enrolment framework.
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One in five FTSE 100 DB schemes could fail in a recession
Twenty per cent of FTSE 100 defined benefit schemes would be at risk of failure in the event of an economic downturn, according to new research by Cardano and Lincoln Pensions.
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Age-based tax relief rumours met with industry criticism
Philip Hammond is understood to be considering cuts to tax relief for older workers to fund tax breaks for younger people, a move that would ‘smack of ageism’ and cause further confusion, industry figures say.
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NewsHPE pensioners to bring inflation-proofing dispute before MPs
Pensioners of Hewlett Packard Enterprise are lobbying the government to force their former employer to provide inflation protection for pension rights built up before 1997, and have gained cross-party support for legislation.
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Auto-enrolment strikes a chord with small businesses
Small and micro employers are finding auto-enrolment less costly and time-consuming than they had anticipated, research by the Department for Work and Pensions has found.
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Timetable risks breaking dashboard consensus
The Association of British Insurers has called on government to legislate for schemes to provide their data to the pensions dashboard amid criticism a hasty delivery could leave the project failing consumers.