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Many DB schemes are ‘just treading water’

The Pension Protection Fund says little progress has been made in closing a total £222bn deficit on UK defined benefit schemes, with many schemes “just treading water”. In its latest data on the trends in DB pension schemes, the PPF says the deficit across 5,794 schemes feel slightly from £244.2bn at the end of March […]

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Aegon pulls off-platform guaranteed products

Aegon has withdrawn its off-platform income guarantees range and closed four products to new business. The products are Aegon’s secure lifetime income, secure income, secure capital, and secure trustee investment. Aegon says it is committed to customers with existing guaranteed products. In a statement, it says: “Applications submitted with a valid illustration produced prior to […]

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Women’s pensions unlikely to catch men’s, report finds

Men will continue to have larger pension pots than women, despite retirement inequalities reducing over the last six years, according to a report from the Pensions Policy Institute. The report says that since 2010, women aged over 50 have experienced greater increases to their retirement incomes than men. Women in particular have benefited from the […]

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Tenet warns on cost of Mifid II to networks

Tenet is concerned networks may face high regulatory fees to pay for Mifid II if new levies treat them as one business rather than many. In a consultation paper released last month the FCA said it planned to recover its costs of implementing Mifid II in 2018 by introducing a levy on the relevant firms’ […]

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