All Royal London articles – Page 3
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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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NewsNo-deal Brexit a possibility as McVey and others quit
Esther McVey has resigned as secretary of state for work and pensions amid a raft of cabinet resignations, raising speculation about the impact of a no-deal Brexit on the pensions sector.
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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
Half of today’s over-40s are retirement savvy
On the go: Encouragingly, half of the over-40s in the UK have sufficient basic knowledge of the factors that may influence their later-life income to avoid the worst retirement pitfalls. However, one in 14 people are at high risk of making poor financial choices.
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News
AE reaches nearly 10m workers, but gaps in coverage remain
On the go: A record 9,937,000 workers have been auto-enrolled into a pension scheme since 2012 according to data from the Pensions Regulator’s monthly auto-enrolment compliance statistics released on November 13.
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Pension savers overtaxed by 'staggering' £372.5m
On the go: The government faces growing pressure to review ‘emergency tax’ treatment of pension freedoms withdrawals, after it was revealed that a staggering £372.5m has now been reclaimed by pension savers since the freedoms were launched in April 2015.
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OpinionDB transfers: Is your pension fund at risk of paying out too much?
During 2018, the Pensions Regulator has written to dozens of defined benefit scheme trustees regarding transfers out of their scheme.
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News
UK pension system still lagging on adequacy and sustainability
The UK pensions system has major shortcomings in its adequacy and sustainability, and could be improved by rowing back some of freedom and choice, according to research comparing retirement provision around the globe.
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News
Providers say retirement defaults could help poorer pensioners
Research highlighting the increasingly complex financial decisions and lower levels of income facing the next generation of retirees has led to renewed calls for default pathways through retirement.
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OpinionTrustees must not shirk responsibility on DB transfers
From the blog: The Merchant Navy Officers Pension Fund has, in common with many other defined benefit pension schemes, seen a significant increase in transfers out of the fund since the introduction of pensions freedoms introduced three years ago under the then pensions minister, Steve Webb.
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Opinion
Advertising transfer values: trustee duty or danger to members?
When trustees at the Rexam Pension Plan noticed a substantial spike in defined benefit transfers out of the scheme last year, it seemed like good news.
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News
CJEU rules against PPF cap
On the go: The Court of Justice of the European Union has ruled that the cap imposed on benefits paid by the Pension Protection Fund is unlawful when it reduces the payments made to a saver by more than half.
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News
Regulator calls for schemes to consider lowering transfer values
On the go: The Pensions Regulator has asked the trustees of several defined benefit schemes to contemplate cutting transfer values for workers opting out of schemes.
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OpinionIndustry right to reject death by Isa
From the blog: MPs may have migrated to warmer climes to relax during the parliamentary recess, but the civil servants at HM Treasury have evidently been working away behind the scenes.
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NewsOmbudsman’s police ruling highlights trustee duty of care
The Pensions Ombudsman has upheld a police officer’s complaint that Northumbria Police transferred his pension to a new scheme without having conducted adequate checks or provided him with sufficient warning about scams.
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News
Bank of England raises base rate to 0.75%
The Bank of England has raised its base interest rate to 0.75 per cent, its highest level since February 2009.
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News
Johnson: With-profits a better alternative to risky CDC
Plans for collective defined contribution schemes are "a risk too far", and savers should instead be offered individual savings pots invested in with-profits funds, according to one of the architects of freedom and choice.
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News
Communications essential as cold-calling ban takes step forward
The Department for Work and Pensions has taken a further step towards implementing a ban on cold calls related to pensions, but experts have cautioned that the delayed measure will not be sufficient on its own to stamp out scams.
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News
Dormant pots could cost £1bn in admin charges, research finds
Auto-enrolment is set to create 50m dormant pension pots by 2050, which may cost savers up to £1bn in administration charges, according to Hargreaves Lansdown research.