Investment

Pension scheme members with AXA will have their contributions automatically increased in a bid to remedy a lack of engagement with their policies.

A large proportion of communication with existing and potential DC pension scheme members is failing, largely because it is mis-targeted, according to BlackRock.

A decision by The Pensions Regulator (TPR) to avoid retrospectively changing pension scheme valuations based on longevity improvements has been welcomed.

Many pensioners are going on a spending binge in their first year of retirement causing severe financial hardship in later years, according to Prudential.

Friends Provident is urging consumers to look to more traditional pension savings to fund their retirement, rather than relying on property.

Retirement specialist LV= has boosted the number of funds available through its pension platform by 15.

The proportion of Defined Benefit (DB) schemes open to new entrants is expected to fall from 25% to 18% by 2010 and 14% in the next 5-10 years, according to Watson Wyatt's Pension Plan Design Survey 2008.

Rowanmoor Pensions has been selected to take over the Skandia's £13.7m Small Self-Administered Schemes (SSAS) book of business.

The most common single source of complaints against pension schemes was decisions not to award ill-health pensions, the Pensions Ombudsman says in its Annual Report and Accounts for 2007/8 .

Skandia Life is pulling out of the SSAS pension market and transferring its business to specialists Rowanmoor Pensions.