All articles by Sonia Rach – Page 2
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NewsPension savers lose £1.7bn on retirement transition
On the go: Workplace pension scheme members are losing around £1.7bn a year during their transition into and in retirement, according to new research from master trust HSBC Tomorrow.
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NewsAggregate value of lost pension pots surges to £27bn
Pension savers are being encouraged to take action to trace their lost pension pots, which in aggregate are estimated at £26.6bn, according to the Pensions Policy Institute.
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NewsMel Stride appointed work and pensions secretary
On the go: Prime minister Rishi Sunak has appointed Mel Stride as the new secretary of state for work and pensions.
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NewsFCA proposes rules to stamp out greenwashing
The Financial Conduct Authority is looking to introduce a package of measures aimed at clamping down on greenwashing, while looking to expand the regime for pension products in the future.
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NewsQuarter of workers unaware of workplace pension contributions
On the go: More than a quarter (26 per cent) of UK workers do not know how much they contribute to their workplace pension each month, according to new research commissioned by Standard Life.
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NewsGrime artist Big Zuu encourages pension talk
On the go: Grime artist and TV cook Big Zuu has produced a song and accompanying video calling on people to ‘Pay your pension some attention’, as part of a wider campaign.
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NewsProviders take action to prevent reduced pension contributions
Providers have started to take action as more individuals move to reduce pension contributions as a result of the cost of living crisis.
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NewsNine in 10 DB transfers receive scam warning in July
On the go: Around 94 per cent of defined benefit transfers registered as having one or more scam warning signs, according to XPS Pensions Group.
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NewsLCP urges caution before consolidating pension pots
On the go: Deciding whether to consolidate pension pots “is not a no-brainer”, consultancy LCP has warned, as it set out the advantages and disadvantages of consolidation in a new report.
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NewsRoyal London profits slump due to market volatility
Royal London has posted a pre-tax loss of £228mn for the first half of the year due to falls in equity and bond markets.
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NewsMPs call NHS pensions ‘national scandal’ as doctors forced to leave
On the go: The Health and Social Care Committee has called NHS pension arrangements “a national scandal” as senior doctors are being forced to reduce their hours or stop work entirely.
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NewsFCA failed to protect British Steel scheme members, MPs say
The Financial Conduct Authority had “inadequate oversight” of companies involved in the British Steel Pension Scheme transfer scandal and was “consistently behind the curve” when responding to issues, MPs have claimed.
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NewsScam warnings on DB transfers reach all-time high
On the go: The number of scam warnings on defined benefit transfers is at an all-time high, despite a downward trend in transfer activity, XPS Pensions has said.
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NewsOpperman: Employers should provide ‘rainy-day fund’ to keep staff
Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff.
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NewsRise in number of DB schemes appointing advisers to continue
On the go: A growing number of defined benefit pension schemes are offering new benefits to members such as appointing a financial advice company, according to consultancy LCP.
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NewsFour in five DB transfer requests raise scam warning
On the go: Four in five (83 per cent) defined benefit transfer requests have raised one or more warning flags, according to XPS Pensions Group.
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NewsSmall pots group revisits pot-follows-member solution
The small pots working group has come up with three recommendations to consolidate the large number of small defined contribution pension pots in the UK, one of which includes the pot-follows-member solution, which has been touted before.
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NewsRise in ‘bogus self-employment’ will lead to old age poverty
On the go: A rise in “bogus self-employment” means many individuals are missing out on employment benefits such as a pension, according to Jack Jones, policy and campaigns support officer at the Trades Union Congress.
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NewsDWP questions industry on Nest’s fund offering
The Department for Work and Pensions is gathering views on support available to scheme members when making savings decisions, and is questioning the industry on whether Nest’s current offering is sufficient.
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NewsAuto-enrolled could accumulate £1.64mn pot over 70 years
On the go: An individual auto-enrolled on the average wage could accumulate a pension pot of £1.64mn over 70 years, according to Hargreaves Lansdown.
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