March 2024
11Mar

UK Government ‘continuing to drag its feet’ on women’s pensions

The UK Government has been accused of “continuing to drag its feet” on ensuring women born in the 1950s receive pension equality. Thirty campaigners from the Women Against State Pension Inequality (Waspi) group were in the public gallery as the issue was raised in the Senedd on March 6. The campaign was launched amid concerns about the way in which women’s state pension age was increased from 60 to 66 in line with men. Millions of women saw their retirement plans plunged...

March 11, 2024
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07Mar

Retirement industry shows mixed response to U.K. budget proposals

The U.K. retirement industry has urged caution over announcements in the nation's spring budget statement by Chancellor of the Exchequer Jeremy Hunt, with proposals including the establishment of a unifying "pot for life" and a move to mandate disclosures of how much of a portfolio is invested in the U.K. Hunt confirmed that the U.K. government was to continue with its retirement "pot for life" concept — allowing participants to request that new employers contribute into an existing retirement plan...

March 7, 2024
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06Mar

UK state pension could hit £13,000 ‘in next five years’

The UK state pension could pay out more than £13,000 a year by 2030 if the current triple lock rules remain in place, analysis by AJ Bell has found. Pensioners with a full National Insurance contributions record can currently get £10,600 a year (£203.85 per week). From April, this will rise 8.5% to £11,502 annually (£221.20 a week) in line with the rapid increase in earnings registered last summer. It has led to warnings that some pensioners could be landed with an unexpected tax...

March 6, 2024
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05Mar

Switzerland votes against increasing the retirement age. What are the retirement ages around the world?

Swiss nationals have voted in favour of increasing their state pension by an extra month every year. The nationwide referendum saw Swiss voters take to the ballot box to discuss issues on living standards for the elderly. Around 60 per cent of the nation voted in favour of providing the additional payout each year, while simultaneously refusing to raise the retirement age from 65 to 66. At present, the maximum monthly state pension is €2,550 (£2,180; $2,760) but the cost of living in Switzerland has dramatically...

March 5, 2024
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04Mar

U.K. pension funds to disclose domestic investment as London stock market falters

Chancellor Jeremy Hunt on Saturday said U.K. pensions will have to disclose how much they have invested domestically, in a move meant to boost the faltering U.K. stock market. Under the plan, defined contribution funds by 2027 will have to disclose their level of investment in British businesses, as well as their costs and net investment returns. Hunt said the proposal will first be reviewed by the Financial Conduct Authority. Pension funds also will have to disclose how they performed against...

March 4, 2024
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04Mar

UK. Make My Money Matter publish report analysing leading pension providers’ action on climate change

A recent report by Make My Money Matter sheds light on the relationship between finance and environmental stewardship, revealing both the potential and the shortcomings of our pension investments. The UK Pensions: Climate Action Report highlights the stark reality that while many of us contribute to pensions, few of us truly understand where our money goes and the consequences of it. Often, out of the £3 trillion that exists in UK pensions, this money is financing industries that perpetuate environmental...

March 4, 2024
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01Mar

Final report: Engaging with Pensions at timely moments

By Department for Work & Pensions The research achieves this by exploring people’s attitudes and behaviour with regards to pensions, saving, and retirement planning; identifying whether specific life events might be useful prompts to help people engage with their pensions; and looking at how the government and the pensions industry could best support people at these times. Get the report here

March 1, 2024
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February 2024
29Feb

UK. Pioneering Responsible Investment: How Pension Schemes Lead with ESG Initiatives

In an era where environmental, social, and governance (ESG) factors are becoming paramount in investment decisions, pension schemes and asset managers are taking significant strides towards responsible investing. Notable entities like Scottish Widows, Railpen, Nest, AXA Investment Managers, Franklin Templeton, and Legal & General Investment Management (LGIM) are setting benchmarks by emphasizing initiatives that not only foster financial returns but also contribute positively to society and the environment. Championing Social Factors in Investments Scottish Widows has made headlines by focusing on...

February 29, 2024
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28Feb

Govt urged to consider new measures to attract pension investment in the UK

The Pensions and Lifetime Savings Association (PLSA) and the Association of British Insurers (ABI) have called on the government to consider taking further action in four key areas to attract greater pension investment in UK growth. The associations stated that whilst progress on increasing pension investment in UK growth had been good, more needs to be done, identifying four key measures that could help improve growth. The government was urged to consider ensuring better adequacy in defined contribution (DC) pensions and...

February 28, 2024
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26Feb

Global pension assets recover to pass US$55trn

Global pension assets rose by 11 per cent on aggregate to US$55.7bn in 2023, according to the Thinking Ahead Institute’s (TAI) latest Global Pension Assets Study. Its previous 2022 study measured the largest annual fall in global pension assets since the global financial crisis following a decade of uninterrupted growth. At the end of 2022, global pension assets stood at US$50.2trn. The UK overtook Canada to become the third largest pension market by total assets, which stood at US$3.2trn at the end of 2023. The...

February 26, 2024
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