Organisations representing employers, consumers, workers and the elderly have joined the National Association of Pension Funds (NAPF) in urging the government to rethink its commitment to pot follows member.

Retirees with small pots should be allowed to draw down savings as fixed-term pension to enable them to defer taking a state pension, says the Association of Consulting Actuaries (ACA).

STATE PENSION

The majority of employers are in favour of using auto-escalation schemes to increase contribution rates in defined contribution (DC) schemes, according to research from the Association of Consulting Actuaries (ACA).

People will have to build up at least ten years of National Insurance payments or equivalent credits to be eligible for the single-tier state pension.

Life expectancy for typical retirees has fallen by several months, according to analysis of mortality data.

The total deficit of private sector UK defined benefit (DB) schemes increased by £100bn last month as rising inflation expectations pushed up liabilities, figures show.

Over a quarter (27%) of international employees are concerned about the possibility of having to work longer than they wanted to due to financial constraints later in life, a report from HSBC reveals.

Fewer than one in four major employers say their scheme has a specific ‘decumulation strategy' in place to help retirees get the best annuity, research finds.

The Pensions Regulator (TPR) has appointed Stephen Soper to replace Bill Galvin as chief executive on an interim basis.