pensions

The Pensions Advisory Service has received almost 20% more complaints from members of occupational and personal pension schemes over the last 12 months than it did during the previous year.

Around 65,000 pension scheme members have already suffered extensive losses following their schemes being wound-up by insolvent employers, reveals new findings by the Department for Work and Pensions.

Research on behalf of the Equal Opportunities Commission into the arguments for and against unisex annuities has led the Pensions Policy Institute to conclude there are no good reasons why such policy should not be implemented.

Employees from 100 selected firms will start receiving pension information packs devised by the Department for Work and Pensions as part of a pilot to test the impact of savings advice in the workplace.

One in four UK companies say they consider, or would consider, giving employees cash instead of offering a pension, says an international human resources consultancy.

Trustees could find themselves having to foot hefty compensation bills if they fail to ensure they have dealt with ALL the beneficiaries of a SIPP properly, warns SIPPs provider D A Phillips & Co.

Abbey for Intermediaries has developed a pension simplification pack for IFAs in the hopes it will help them ensure clients are well-prepared for coming pensions legislation.

Most trustees of small occupational pension schemes have had no training at all despite pending pension legislation require them to at least be familiar with the issues they deal with, says the Occupational Pensions Regulatory Authority.

The Treasury has today decided to raise the charge cap on stakeholder pension products to 1.5% for the first 10 years they are held, reverting it back to 1% therafter.

The Finance Bill has closed a tax loophole in pending pensions legislation, which could have lump sums paid out without being subject to a tax charge, says Abbey for Intermediaries.