Tag Archives: pensions

The Office for National Statistics’s upward revision of earning figures will saddle Rachel Reeves with an “unwelcome” extra £100mn bill for the state pension rise next year, according to LCP partner, Steve Webb. Today (October 15), the ONS released its Labour Market Overview for October 2024, detailing the revised figures …

Nearly two thirds (64 per cent) of UK consumers approaching retirement find targeted support appealing, research from Aegon has revealed.  The research, “The Second 50: Navigating a Multi-Stage Life” report, discovered substantial demand for “targeted support” which would offer “people like you” suggestions based on limited information about the individual …

Regulations have finally been laid before Parliament to correct errors that had been embedded into legislation when the lifetime allowance was scrapped. The lifetime allowance was abolished back in April but there were mistakes in the original legislation, which the government needed to fix before certain clients could make changes to …

The first single-employer collective defined contribution (CDC) pension scheme is authorised and ready to launch in 2024 for the Royal Mail. Next steps are likely to include expansion into the multi-employer market as a competitor to individual defined contribution schemes; to provide a pension scheme that delivers an income in …

MP for Leicester West, Liz Kendall, has been appointed as the new Secretary of State for Work and Pensions at the Department for Work and Pensions (DWP). MP for Leeds West, Rachel Reeves, has also been appointed as Chancellor of the Exchequer, making her the UK’s first female Chancellor. The …

Hundreds of stores of the retail giant Wilko will close in the coming weeks, after talks to rescue the bankrupt company failed. Administrators at PwC confirmed on Monday that nearly 300 Wilko stores and its distribution centers will cease operations in the coming weeks. The company collapsed owing £410.9 million …

However, superior returns may only arise in very old age, according to research commissioned by the Association for British Insurers, an industry trade body. Its model found that if a worker starts saving into a CDC scheme at the age of 30, by their 75th birthday they would have an …

The Governent has launched a new sort of hybrid pension that claims to offer the best parts of existing sorts of retirement savings – all that’s left is for employers to buy into the idea CDC pensions have been a hit overseas – and now they’ve come to the UK …

Royal Mail, Co-op and Marks & Spencer (M&S) have this week pledged to halve the emissions of their pension scheme portfolios by 2030, and to deliver net zero across these investments by no later than 2050. Royal Mail and the Co-op announced their pension scheme pledges today, following the 2040 …

Hundreds of P&O Ferries workers laid off last month are in danger of switching their retirement funds into less generous alternatives, financial experts are warning Worried P&O staff may be worried about their pensions, but should take proper advice ( Image: Getty Images) Laid-off P&O Ferries workers are being urged …