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...The so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...of EnnisKnupp, a consultancy that works with pension plans....
...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...The UK’s top financial regulator is facing a fierce backlash from the government and City executives over its plan to “name and shame” companies under investigation more frequently and at a much earlier...
...But at that stage every pension plan was an island, with no interconnections and no obvious mechanism for enabling the pension to follow the member. Ten years on that has all changed....
...No regulated advice or guidance (which is free from the government-backed Pension Wise service) was sought for 37 per cent of income drawdown plans taken out in the 2022-23 tax year....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...On one hand, leading one of the world’s biggest pension plans should be incredibly desirable....
...Employers’ access to billions of pounds of surpluses in UK company pension funds would be eased under proposals set out by the government on Friday....
...Other companies have also been amending their business plans following discussions with Ofwat....
...That’s a big driver of a parallel trend in the other direction that has seen a record number of US companies paying to offload their closed pension plans to insurers while rates are high....
...About 20 states have also set up defined contribution plans for workers at small companies and the self-employed....
...The head of the UK’s National Infrastructure Commission has said he does not believe the government should tell pension schemes where to invest their members’ money....
...Access to about £225bn in surplus funds held in traditional-style company retirement plans is to be made easier for thousands of employers under measures set out by the UK government....
...Membership of workplace pensions has grown by more than 10mn since reforms requiring employers to automatically enrol staff into company retirement plans came into force in 2012 with around £116bn invested...
...“We know that as we live for longer, we need to work for longer,” she said, adding, “we’ve got no plans to lower the state pension age.”...
...company....
...The plan is designed to alleviate pressure on a pension system that is expected to come under huge strain in the next few years as a whole generation of “baby-boomers” born in the 50s and 60s enters retirement...
...The California Public Employees’ Retirement System has named a former top executive at the New Zealand sovereign wealth fund to direct the largest US public pension plan’s investments following the abrupt...
...He added that the government had to be prepared to “do deals” with private companies and pension funds to unlock capital for infrastructure, including more risk sharing....
...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...Employers are not obliged to pay into a pension plan chosen by their workers....
...Thousands of company pension plans in the UK have amassed surpluses over the past 18 months, thanks to interest rate rises driving down the cost of pension promises....
...Some pension providers were euphoric about the end to the lifetime allowance, perhaps anticipating the “fill your boots” impact on pensions savings among the wealthy....
...The City of London Corporation, which has collaborated with the government to channel long-term capital from pension funds into UK companies, said the chancellor’s new pension measures would “turn the dial...
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