Pension News
Standard Life reduces surrender/transfer values for some with-profits plans
The significant investment market falls of the second half of 2008 have unfortunately continued through into 2009 with the UK stock market currently at levels not seen since early 2003.
SWIP launches new life and pension links with Skandia
Scottish Widows Investment Partnership has launched two funds onto Skandia's "Selestia Investment Solutions" platform. The Multi-Manager Diversity fund and the Absolute Return Bond fund will also be available as insured fund links via Skandia's life and pension products.
Two thirds of baby boomers' stuck in the pre credit crunch era
Almost two thirds (65%) of baby boomers (those aged 45 and over) have failed to review their retirement plans as a result of the current financial crisis, according to research from The Hartford.
Long-term planning beats short-term perks
As the credit crunch bites, employers are being reminded that Britain values its benefits and that many employees are looking for long-term support ahead of short-term financial gain.
Recession woes grow for pensioners
The UK's deepening economic crisis will mean the 3.25 million UK adults who plan to retire in 2009 expect to receive £2.87 billion less in their pensions than those who planned to retire in 2008, according to the Prudential Class of 2009 retirement survey.
ABI urges Government to allow automatic enrolment before 2012
The Government has today published draft regulations which will set in motion the process for automatically enrolling all employees into workplace pensions from 2012.
Clear message to save to accompany automatic enrolment
AEGON says clear messages at the point of automatic enrolment that it ‘pays to save' are needed to give people confidence in the Government's pensions reform proposals.
NAPF publishes ‘Hedge Funds Made Simple’
The National Association of Pension Funds (NAPF) has published its latest Made Simple Guide - Hedge Funds Made Simple.
Three more schemes enter the Pension Protection Fund
Last month (February), three more schemes transferred to the Pension Protection Fund (PPF).
Quantitative easing and annuity rates
Commenting on the impact of quantitative easing on the annuities market, Craig Fazzini-Jones - Director and Head of MGM Advantage Designs for Retirement said: "The Bank of England's announcement of £250bn quantitative easing to UK capital markets has caused a sharp fall in the government bond yields which will impact on annuity rates.
Pensioner inflation rates ten times higher than non-pensioners
In response to IFS figures published today, which show that although inflation rates are falling among the general population, people aged over 60 are currently facing higher inflation rates, Gordon Lishman, Director General of Age Concern, said:
Prudential launches pioneering new income choice annuity
Prudential is to launch a brand new, innovative annuity on 9 March 2009 that provides customers with the flexibility to select the level of income they wish to receive, have it reviewed annually and potentially change it every two years if they choose.
AEGON adds loyalty rule to Group Pensions Active Member Discount
AEGON Scottish Equitable has enhanced its Group Pensions Flexi-menu proposition by allowing members who receive an Active Member Discount to keep their reduced annual management charge (AMC) on a permanent basis when they reach their 10 year plan anniversary.
Just Retirement: Replacing income following base rate reduction
David Cooper, Marketing and Distribution Director at Just Retirement said: "The latest news of a further reduction in the base rate will hurt retired people living off their savings.
Redundancy and the global recession are biggest concerns
Being made redundant and the continuing global recession are people's biggest concerns for 2009 according to the results of a new survey.