Pension News
Pensions Regulator issues statement to UK employers
The Pensions Regulator has issued a statement to employers who sponsor final salary pension schemes regarding the impact of current economic conditions. This follows a similar statement issued to pension scheme trustees last autumn.
Inflation decrease welcome relief for UK pension pots
Today's announcement that inflation levels have decreased to 3 per cent will hopefully be good news for UK retirees.
Rockingham throws down gauntlet to pension industry
In a move designed to help increasingly worse off pensioners, Rockingham Retirement has announced that it is scrapping its standard £195 administration fee to convert ALL pension funds of £20,000 and under to an annuity.
NFU Mutual announces reduction in annual bonus rates
"NFU Mutual is a financially strong company. However, it is not immune from the impacts of market movements," said Iain Baker, Chief Actuary at NFU Mutual.
Three more schemes enter the Pension Protection Fund
The Pension Protection Fund (PPF) took three more schemes under its wing last month (January), resulting in a further 745 people around the UK now receiving compensation - or will do so in the future.
Fidelity FundsNetwork slashes SIPP annual charges
Fidelity FundsNetworkTM has slashed its SIPP annual charges, meaning that any new investments of £150,000 and above now attract no annual fee. This exciting new offer means potential savings of £260 a year in charges for the life of the plan.
New blow for policyholders as Aviva cuts inherited estate payouts
As Aviva announces a cut in the payments to policyholders from its inherited estate deal, Which? chief executive, Peter Vicary-Smith, says: "This news caps a miserable few months for Aviva's with-profits policyholders in which they've seen bonuses slashed and transfer penalties introduced.
Annuity gap widens
There continues to be significant differences between the best and worst annuity rates on offer to pensioners, according to research by Moneyfacts. The findings clearly demonstrate the need for consumers to shop around for the best annuity deal.
BT selects Standard Life for Corporate SIPP
BT has appointed Standard Life to develop a Corporate Self Invested Personal Pension (CSIPP) plan for its 20,000 employees currently in trust based Defined Contribution (DC) plans.
Older people living longer, healthier lives
Older people are living longer, healthier lives than they did ten years ago, according to a new report.
Deferral of Standard Life Property Funds
Standard Life has introduced a queuing system for switches, transfers and surrenders from its UK Unit Linked Life and Pension Property Funds with effect from the close of business 26th January 2009.
Standard Life announces review of its with-profits bonus rates
Most plans affected by this declaration will show an increase in value since the October 2008 bonus review, although as a consequence of 2008's extreme investment conditions, plan values will generally be lower than a year ago.
Bestinvest: Final salary pension schemes
Matt Brunwin, Senior Consultant, Bestinvest comments on the news that a quarter of major private sector firms expect to close their final salary pension schemes to existing members in the next few years: This is not a great surprise given the liabilities attached to these schemes.
People approaching retirement with foreboding
The life and pensions provider says that some survey respondents now regard retirement with apprehension, if it is thought of at all. Some of these people admit to ‘burying their head in the sand' because pensions are too confusing.
Calls for urgent Government actions to hold onto quality pensions
The ACA says the latest NAPF findings confirm the Government was far too timid in the pension reforms enacted (or rather not enacted) in 2008.