Retirement

Watson Wyatt has appointed three consultants to its Bristol defined contribution (DC) pensions team.

Scottish Life has appointed Joe McGrath and Ken Tymms as corporate pensions managers to work on the provider's defined benefit (DB) business.

JUST Retirement has warned retirees that if they defer purchase of an annuity now because of uncertain and volatile market conditions, they could face significant shortfalls in their retirement income.

One in 10 pension savers expects to stop, pause or reduce pension contributions during the next year because of the worsening economic outlook, according to research by portfolio manager Brewin Dolphin.

Just Retirement's total sales rose 25% to £387m in the second half of last year, according to the group's half year results.

MetLife has reduced the annual management charge (AMC) for its Trustee Investment Plan (TIP) to 0.5% from 0.95%.

AXA Winterthur enjoyed a 22pc increase in new individual pensions business last year, from £1.59bn, to £1.93bn.

Proposals to include mortality assumptions in funding plans could be "another nail in the coffin" for defined benefit (DB) schemes, warns Occupational Pensions Trusts (OPT).

Winterthur announced sales in its new individual pensions business rose 22% last year to £1.93bn.

The Government needs to conduct further research into whether people on benefits would benefit by auto-enrolling in personal accounts, the Pensions Policy Institute (PPI) says.