pensions

The Pensions Management Institute (PMI) has elected a new president to take over from Penny Green following its AGM in July.

We are now well into March and as usual everyone's thoughts are turning towards the Budget, with many looking into their crystal balls to try and predict what surprises and u-turns the Chancellor will spring on us next Wednesday.

Independent financial advice is an "essential step" for pension trustees when negotiating deficit recovery plans, or in the event of acquisitions or disposals by a sponsoring employer, says Paul Thornton.

Proposals put forward in a consultation paper on the rolling deregulatory review of defined benefit pensions could see pensioners income fall by around 30% in the next 10 years, warns Standard Life.

The majority of cohabiting couples could be leaving their partner unprotected when they die by not leaving a will, as 55% falsely believe the concept of ‘common law marriage' provides the same rights as married couples.

The activity level in pensions lobbying circles has recently edged up a notch or two. We received the White Paper on personal accounts just before Christmas, and now are turning our attention to drafting a response by the deadline of 20th March.

Paul Thornton has issued a consultation asking whether The Pensions Regulator should work more closely with the Financial Services Authority to cover a gap in regulation of IFAs advising on transfers between occupational pensions schemes.

Two thirds of UK adults do not trust the government's pension reform and almost half are less confident in saving for retirement than they were five years ago, according to research from MetLife.

One in three workers feel pension education should be taught in schools, as over 90% believe pensions should be made easier to understand.

Over the past 15 years adult children have drained their parents of around £55bn in savings, claims Scottish Widows.