pensions

One in five adults are more likely to spend their spare cash at the end of the month on a shopping spree or a holiday than save for retirement, claims Aon Consulting.

Deutsche Bank and Eton Park International LLP are leading a consortium of backers for Mark Wood's new company Paternoster Limited, after announcing an investment of £500m of equity financing.

The popularity of Self-Invested Personal Pensions (SIPPs) is expected to grow by over 50% following A-Day, claims adviser research from FundsNetwork.

Advisers can still pay a critical part in the pensions market following A-Day by making investment portfolios the key focus, claims Defaqto.

The final draft code of practice for Member-Nominated Trustees (MNTs) and Directors on putting arrangements into place has been published by The Pensions Regulator, along with a provisional timetable for the issuing of outstanding codes.

THIS MORNING'S papers seem to be dominated by the effects of the new pensions regime which comes into force today.

The Pensions Commission has acknowledged it would be "dangerous to proceed" with a national Pensions Savings Scheme (NPSS) without making allowance for individual advice if a compulsory employer contribution is not included.

The third and final report from the Pensions Commission has received a muted response from both the government and the insurance industry.

The Department for Work and Pensions has developed proposals for a private sector alternative to the National Pension Savings Scheme (NPSS) which is said to be modelled on those presented by the Association of British Insurers.

Alternative models to a National Pensions Savings Scheme (NPSS) have not convinced the Pensions Commission they would deliver a set of benefits which would justify the extra cost.