pensions

As falling bond and gilt yields cause conventional annuity rates to continue to decrease, with-profit annuities are becoming more popular with both advisers and consumers, claims Prudential.

Capita Hartshead has been appointed by the Pension Protection Fund (PPF) to take administrative control of compensation payments to members of eligible defined benefit (DB) pension schemes which have failed.

The code of practice on trustee knowledge and understanding (TKU) is one of four sets of guidance to have come into effect from the Pensions Regulator.

Guidance on how contingent assets can be used when calculating scheme funding for defined benefit pension schemes has been published by the Pensions Regulator.

An appeal over the way a pension in payment is treated in a divorce settlement has set a precedent to stop them being treated as capital assets.

White paper proposals for simplifying the state pension system have been broadly welcomed but the role of advice still needs to be addressed to show the government has learnt its lesson from stakeholders, claims Alexander Forbes Financial Services.

Proposals to abolishing contracting-out for defined contribution (DC) pension schemes outlined in yesterday's white paper has caused concern among some sectors of the industry.

Precise details on the structure and workings of the 'personal accounts' announced by the government today as part of its solution to long-term savings needs will have to wait until the publication of a further document sometime in the future.

The white paper on pensions reform has been given a lukewarm reception by the two opposing political parties, with the Liberal Democrats saying while some parts are welcome, the reforms will ultimately fail to deliver a pensions solution.

Reforms to the state pension system announced in the DWP white paper will see a simplified system with a contributory principle to benefit women and carers apply to all people reaching state retirement age from 2010.