pensions

Standard Life has been hit with the huge task of writing to around 35,000 customers in its pension and investment plans to explain about errors in the pricing of some internal funds.

The CII Group has launched a new Certificate in Life and Pensions to be added to its framework of financial services qualifications.

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.

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 .

The Personal Accounts Delivery Authority (PADA) says the majority of respondents to its charging consultation paper are split between an AMC-only structure or an AMC plus contribution charge.

Only 10% of advisers would look to purchase an annuity with the whole amount of their pension savings, according to Skandia.

Consensus on its pension reforms has been very important to the Government. It's worked hard to maintain the support of other political parties, the pensions industry and consumers.

Fear is one of the main factors prompting people to increase their pension savings, according to the Scottish Widows Pensions Report 2008 .

Two thirds of Brits (66 per cent) have little or no faith in the Government when it comes to pensions, according to a survey by Friends Provident.

More work must be done to build understanding of workforce pension benefits as research reveals five million people are unaware of pension tax relief, according to The National Association of Pension Funds (NAPF).