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ABI has no accurate figure of OMO take-up
The ABI does not have a figure for the proportion of annuity customers exercising the open market option, it has been revealed.
High levels of opt-outs amongst younger workers predicted
More than half of corporate financial advisers think that up to 30 per cent of UK workers could opt out of pensions into which they have been automatically enrolled, according to research from Aviva.
Punter Southall buys rest of PSigma
Punter Southall has taken 100 per cent ownership of fund management boutique PSigma Asset Management.
Corporate advisers letting down DC annuitants - Pensions Institute
Corporate advisers should be doing more to improve the failing annuitisation process for workplace DC schemes that is siphoning off up to £1bn a year from members’ incomes says influential academic Dr Debbie Harrison of the Pensions Institute.
Friends Life's corporate platform goes live
Friends Life has launched its corporate platform, offering cash and stocks and shares Isas and investment accounts in addition to pension.
Standard Life cuts with-profits bonuses for 750,000 savers
A spokeswoman for Standard Life says cutting annual bonus rates will give the provider greater flexibility when making future investment decisions.
Aviva sells three European businesses to MetLife
Aviva has sold its Czech Republic, Hungary and Romania operations to MetLife.
Staging dates tripled but no full contribution until 2018
A revised timetable that triples the number of staging dates for employers has been published by the Government today.
Aegon to launch AE admin hub in Q4
Aegon has outlined plans for an online auto-enrolment hub for administration and communication support and says it is in detailed discussions with Nest on integrating it into its proposition.
Macro quits Towers Watson to head up Mercer's UK DC team
Paul Macro has left Towers Watson to take up the role of head of defined contribution in Mercer’s UK Retirement business.
Tax breaks for employee protection 'a no-brainer' says MP
Tax breaks that incentivise employers to look after the health of their staff and protect their income are ’a no-brainer’, Heather Wheeler MP told a round table briefing at the House of Commons on Tuesday.
International pension plan market sees double-digit growth
The international pension plan (IPP) market has grown by 15 per cent in the last year, contributing to a 50 per cent increase in plans in the last five years according to new figures from Towers Watson.
L&G sets sights on small DB schemes for de-risking
Legal & Generals DB de-risking business is targeting schemes with pensioner liabilities as low as £50m with longevity insurance.
Call for reduction in disincentive to protect income
The government should reduce the disincentive to protect your income created by means-testing of sickness benefits says Jack McGarry, chief executive of Unum UK.
Windsor Life rebrands as ReAssure
Provider says the new name “reflects how different our business is now, how we have changed and our plans for the future”.
Dutch pensions' halo slips as benefits cut and overestimated
The Dutch pension system that is often held up as an example to the UK is coming under attack as pensioners face benefit cuts and valuations are accused as inaccurate.
Providers unite to set out consultancy charging framework
Five providers have grouped together to agree common processes for the implementation of consultancy adviser charging in a bid to avoid chaos when the RDR is implemented next year.
Pension saving at lowest for 10 years - DWP
Fewer than four out of 10 people are saving in a pension, with retirement saving at its lowest level for a decade, according to figures from the Department for Work and Pensions.
Simplyhealth buys Denplan
Fast-expanding provider Simplyhealth has bought Denplan, the UK’s largest provider of dental payment plans and dental employee benefits for an undisclosed sum.
Central register needed for small pots says B&CE
A central pensions registry funded by a levy on schemes should be established to address the growing issue of small pots says B&CE.
DWP consults on earnings trigger indexation
The DWP has launched a consultation on whether the earnings triggers for auto-enrolment should rise in line with CPI or the PAYE threshold and NIC lower earnings limit.
Larger employers to shun Nest – Aon
Just 2 per cent of a sample of 110 Aon Hewitt clients intend to use Nest as their vehicle for auto-enrolment, and most intend to extend existing schemes to new joiners.
