All retirement age articles – Page 4
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FeaturesMinimum AE contributions cannot achieve ‘comfort’ in retirement
The industry has welcomed the Pensions and Lifetime Savings Association’s retirement income standards, but experts warn current minimum contribution levels are not enough to get average savers over the line from a minimum to a moderate lifestyle standard.
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Features
Can schemes save members from retirement age lottery?
Analysis: Workers risk missing out on optimum retirement savings by not supplying their workplace pension provider with an intended retirement age, experts warn. But in the age of inertia, what can be done?
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OpinionDC should stand for decent contributions
From the blog: In recent years, regulators have put so much emphasis on the minutiae of defined contribution pensions that we seem to have forgotten about the bigger picture.
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News£100m bill still hangs over Morrisons as court seeks European help
The Court of Appeal has partially upheld an equalisation ruling that could add more than £100m to the liabilities of the Safeway Pension Scheme, but has asked a European court to clarify whether benefits can be revised downwards in certain circumstances.
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News
Government must clarify minimum pension age plans, say experts
HM Treasury has been urged to clarify its plans for increasing the age at which savers can access pension freedoms, after it accelerated the rate at which the state pension age will increase in July.
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OpinionThe new state pension – why savers are not necessarily better off
On its inception in 1909, the old age pension of five shillings per week (£20 in 2016 money) was paid to around 500,000 people aged 70 plus whose income was less than £21 a year, reducing to zero if that income exceeded £31.
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NewsFindel forks out £2.3m to repair equalisation error
Findel Group Pension Scheme has paid more than £2.3m in past-service costs to make good an error in which a member benefit equalisation exercise was implemented incorrectly.
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News
Is 55 too young to cash in a DC pension?
The age at which members can access their pension pots should be increased, according to a white paper, but some experts say those in ill health should not be held back from drawing their cash.
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Opinion
How to predict member outcomes in the new normal
Myriad products could help grow pension savers’ assets following the Budget changes, but caution is recommended.
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News10,000 retained firefighters could take up benefits extension, union predicts
The UK’s largest firefighters union has said 10,000 ‘retained’ personnel are expected to take up the option of extended pension benefits, which bring them into line with those offered to their full-time peers.
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Features
Case study: M&S’s approach to DC retirement
Engagement with members over their retirement date should start when they join the scheme, Marks & Spencer’s (M&S) technical manager has argued.
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FeaturesTesco consults with unions to reduce costs
The retail giant's scheme is consulting with trade unions on changes to its retirement age and indexation, in an attempt to achieve member consent for these savings.
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FeaturesNationwide uses flexible retirement to engage staff
The UK’s biggest building society has benefited from letting staff draw their pension while continuing to work, since the abolition last year of the default retirement age (DRA).
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News
USS reform shares cost and risk with members
The Universities Superannuation Scheme has reformed its benefits, meaning active members will have to work longer and pay more to secure their retirement income.
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