All Retirement articles – Page 5
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NewsUSS and University of Southampton make AVC blunder
On the go: The Pensions Ombudsman has partially upheld a complaint against the University of Southampton and the Universities Superannuation Scheme trustee after a communication lapse saw a member continue to make annual voluntary contributions after her policy had ended.
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NewsOverpayment woes at Teachers’ Pension Scheme continue
The Pensions Ombudsman has partially upheld two more complaints about overpayments to members of the Teachers’ Pension Scheme, the latest in a series of cases where the scheme and its administrators, Teachers’ Pensions, have faced accusations of maladministration.
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NewsPASA covers crossovers, tax and death benefits in GMP guidance
On the go: The Pensions Administration and Standards Association has launched guidance tacking frequently asked questions around guaranteed minimum pension equalisation, including tax implications, death benefits, commutation, and the ‘look-back’ approach for crossover members.
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NewsActuaries call on govt to improve guidance and advice take-up
On the go: The Institute and Faculty of Actuaries is calling on the government and the pensions industry to improve guidance and financial advice take-up.
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NewsPublic sector scheme members get retirement calculator
On the go: The Government Actuary’s Department has released an online tool designed to help public sector scheme members better understand their options for benefits and retirement.
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OpinionThe future of pensions
Thornton T Munger, a pioneering research scientist, once said: “The habit of saving is itself an education.” Unfortunately, across the UK, this education is lacking.
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NewsGovt to compensate judges for additional McCloud tax bills
The Ministry of Justice has announced it will compensate judges who incur additional tax liabilities as a result of the immediate choice they will take later this year, while other departments left their proposals largely unchanged following consultations on phase one of the McCloud remedy.
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NewsOpperman slates lack of long-term vision in pensions, hints at reshuffle
Pensions minister Guy Opperman has suggested a reshuffle may be on the cards, and has criticised a perceived lack of long-term vision in the pensions industry.
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OpinionFixing shared parental leave policy can curve gender pensions gap
It is International Women’s Day, which means we will hear about the gender pay, investment and pensions gap and say something needs to be done about it; then move on again until next year.
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NewsDC focus turns to member outcomes but retirement uncertainty remains
Data crunch: Despite almost half of defined contribution schemes now stating their main aim is to deliver adequate retirement income for members, 63 per cent do not know what is the expected outcome for a typical member at retirement, according to new research.
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NewsSurvivors must wait for McCloud remedy for pensions clarity
Survivors of deceased public sector scheme members may have to wait for the McCloud remedy to be implemented before discovering whether they are entitled to any of their spouse’s pension, a government minister has said.
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NewsRegulators need advice and guidance take-up targets
On the go: Conservative MP Nigel Mills has argued that the government needs to set a target or benchmark on what the level of take-up of advice and guidance needs to be for pension savers.
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NewsHigh Court resolves Merchant Navy ill-health pensions conundrum
The High Court has approved a settlement over ill-health benefits in the Merchant Navy Ratings Pension Fund, which will see members compensated via lump sum arrears and increased pensions to those who had not been treated in accordance with scheme rules.
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NewsPodcast: Universal charges could harm master trust competition
Podcast: The intent behind universal charges on default funds is sound, but the method — such as the introduction of flat fees — risks harming the master trust sector and restricting access to pensions, according to The People’s Pension’s director of policy Phil Brown. He his joined by his colleague, head of pensions policy Tim Gosling, to discuss charge structures, decumulation solutions, and baffling pensions jargon.
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NewsEarnings trigger remains unaltered in auto-enrolment expansion bill
A bill to expand automatic enrolment, to be debated in parliament on February 25, will not look to remove the £10,000 earnings trigger contrary to initial expectations.
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NewsGovt called to improve pensions advice and guidance gap
On the go: A think tank has called on the government and regulators to improve the nation’s pensions knowledge, after a study highlighted the significant gap in the take-up of guidance and advice.
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NewsGovt confirms GMP revaluation rate after receiving only two responses
On the go: The Department for Work and Pensions will be lowering the guaranteed minimum pension fixed rate revaluation for early leavers by 0.25 percentage points, after its consultation into the matter attracted just two responses.
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NewsPension rules extended to October for returning NHS staff
On the go: The government has extended its relaxation of pension rules by seven months for NHS staff returning to work so they are not hit by reduced pension payments.
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NewsCalls to raise the contribution limit for non-earners
On the go: The pension contribution limit for non-earners should be significantly increased to help tackle the pension savings gap, Aegon has said.
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NewsL&G ‘well advanced’ with commercial dashboard development
Legal & General is “well advanced” with the development of a commercial dashboard, building on the work done in the alpha and beta stages of the Pensions Dashboards Programme.