Pension

Young people in Britain are saving nearly one fifth of their monthly disposable income, which is more than any other age group - but only 12% are using this money to save for retirement, according to research by asset manager BlackRock.

The head of the European Insurance and Occupational Pensions Authority (EIOPA) has proposed an expansion of the organisation's mandate and called for the creation of an "EU retirement savings product".

Auto-enrolment will increase the proportion of workers in occupational schemes from one in two to four in five according to research from the Chartered Institute of Personnel and Development.

PERSONAL PENSIONS

Lawyers and trustees acting to retrieve £52m removed from nine pension funds during the GP Noble fraud have got back 85% of the missing cash.

Defined benefit (DB) pension scheme members are being left £2 to 3bn out of pocket every year as trustees and their advisers fail to update the terms offered on tax-free lump sums.

Advisers looking to break into the corporate pension market to serve SMEs' needs after automatic enrolment should consider taking specialist qualifications, according to the Pensions Management Institute (PMI).

The Department for Work and Pensions will re-launch combined pension statements on 5 November after being suspended for technical updates.

FIVE THINGS

Labour has called for the Office of Fair Trading (OFT) to investigate pension fund charges as part of its campaign for transparency.