pensions

THE AMOUNT of money invested in personal pension plans rose by 6% to £804m in the last quarter of 2005 compared with the same period last year, says the Guardian .

One million workers will have to rely solely on the State pension scheme to fund their retirement claims, according to research by B&CE Benefit Schemes.

ALMOST TWO fifths of Britons say they have lost faith in the private pension system and say it would take "an act of God or the Government" to make them reconsider investing, according to the Daily Telegraph .

Norwich Union is withdrawing five of their pension products from the marketplace because of the new pension simplification rules after A-Day.

The biggest concerns for the future for private sector defined benefit schemes are deficits, regulations and Pension Protection Fund (PPF) levies, according to the National Association of Pension Funds (NAPF).

PEOPLE WITH a private pension will have to put aside an extra £6,000 over their working life to compensate for the two years of lost state pension or retire at 67, an expert said yesterday, reports the Times .

The government is determined to remove unnecessary regulation and simplify regulatory burdens to address concerns of pensions schemes over reforms, Stephen told today's NAPF conference.

A MORE generous state pension in return for a longer working life will be among the chief recommendations made by Lord Adair Turner's Pension Commission later this month, according to the Financial Times .

Internal controls required by pension funds to promote trustee competency under new pensions legislation, could be made compulsory if trustees and advisers do not actively embrace the guidelines, warns consultancy firm Watson Wyatt.

State benefits will no longer provide the majority of our retirement income within a few years, claims a new report from Prudential.