Five stories you may have missed this week

1. Labour Party’s choice of LTA as election battleground branded ‘short-sighted’

The Labour Party’s denouncement of the government’s plan to scrap the lifetime pension allowance as a “£1bn bung to the richest 1%” is short-sighted, Barnett Waddingham says.

2. TPR authorises Royal Mail as UK’s first CDC scheme

The Pensions Regulator has authorised the UK’s first collective defined contribution scheme.

3. Changing DB market is ‘encouraging’ for major firms

Rapid change in the UK defined benefit market is “encouraging” for the prospects of major insurance firms, a Bloomberg Intelligence report says.

4. DWP expands mid-life MOT scheme

The Department for Work and Pensions has expanded its mid-life MOT scheme to benefit additional workers with guidance and support ahead of retirement.

5. Part-time workers facing £119,000 ‘pension penalty’

Part-time workers could face a ‘pension penalty’ of up to £119,000 if they switch from full-time work to working three days a week for an extended period, analysis from Standard Life has found.