UK Archives - Page 67 of 188 - Pension Policy International

05SepSeptember 5, 2023

UK. One in five cut back or axe pension saving – risking a poorer retirement

One in five people have cut pension contributions or stopped saving for retirement due to tighter household budgets, research reveals. Men, younger people and higher earners are the most likely to have pared back or axed pension contributions altogether, despite the serious damage this inflicts to their long term finances. Inflation also means people need to save up even bigger pensions than ever to fund a decent old age. Some 14 per cent of people have stopped saving into their pension and 8...

September 5, 2023

NewsInflation, savings, UK

04SepSeptember 4, 2023

UK. ‘Real risk of new generation of pension inequality if action not taken’

There is a “real risk” of a new generation of pension inequality emerging if further action is not taken, according to new research. Government, employers and the pensions industry need to act, the report from consultants LCP (Lane Clark & Peacock) said. The Government should take further steps to reduce the inequalities which arise following the birth of a child, including effective policies on shared parenting and greater provision of support for childcare for the youngest children, the report said. Employers should...

September 4, 2023

NewsEquality, Gender Gap, UK

31AugAugust 31, 2023

UK pension schemes could save £2bn in fees, research finds

UK pension schemes could save about £2bn from fees paid to asset managers without sacrificing returns, according to research that suggests price competition among institutional investors is failing to drive down costs. Asset managers often offer fee discounts to key clients such as pension schemes to win their business but details of these deals have historically been a closely guarded secret. The opacity of the market has led to wide variations in fees paid by pension schemes even when they are...

August 31, 2023

NewsPension Management, UK

30AugAugust 30, 2023

UK pension funds write to prime minister over net-zero policies

A group of UK pension funds have written to the prime minister warning that recent public statements and policy decisions regarding the net-zero transition are impacting investor confidence. The group, which is comprised of 36 pension schemes and investment managers, that together hold £1.5trn of assets under management yesterday (29 August) wrote to the prime minister Rishi Sunak, warning that mixed messages from the government on its support for the net-zero transition are jeopardising billions of pounds of much needed...

August 30, 2023

NewsClimate crisis, Investment, Pension Management, UK

29AugAugust 29, 2023

Examining the Effects of Changes to UK Auto-Enrollment

Eliminating the U.K. trigger for auto-enrollment into workplace pension contributions—which currently requires an individual earn more than 10,000 pounds per year—would have a significant positive effect on the retirement outcomes for 90% of individuals, new research shows. However, the change mulled over by lawmakers across the pond may also have a negative impact on a small but considerable segment of the population, according to modeling and research commissioned by the Pension and Lifetime Savings Association and carried out by...

August 29, 2023

NewsBehavioral Science, Pension design, UK

25AugAugust 25, 2023

UK. Interest rates and pensions: good news and bad

The much higher interest rates we have seen in the past few months are clearly bad news for borrowers, especially for younger people trying to buy their first home. And higher long-term interest rates, pushing down the value of bonds, have hit the value of defined contribution (DC) pension pots, even though equities are up. However, it’s not all bad news, particularly not for older Britons. For those with a DC pension who have retired, or nearing retirement, higher bond interest...

August 25, 2023

NewsPension Management, UK

25AugAugust 25, 2023

Global Pension Risk Transfer Monitor: Record H1 Transaction Volumes in UK and US

-The Legal & General Group’s Global Pension Risk Transfer (PRT) businesses – Legal & General Retirement Institutional (LGRI), the United Kingdom’s longest-serving active PRT provider and Legal & General Retirement America (LGRA), a leading provider of pension risk solutions in the United States – today released the latest edition of the Global PRT Monitor, which analyses industry trends and market outlooks in the UK and US. In the US, the Monitor found that last year’s record momentum for US transactions...

August 25, 2023

NewsPension Management, Risk, UK, US

22AugAugust 22, 2023

UK. PLSA: Can low earners be safely auto-enrolled in workplace pensions?

In the realm of pensions policy, there exists a significant knowledge gap when it comes to understanding and addressing the needs of low earners. While various segments of the population have been subject to extensive research, individuals with low incomes who are still engaged in employment have remained relatively understudied. The PLSA commissioned the Pensions Policy Institute (PPI) to evaluate the issue of low earners and whether AE could provide a way of improving their retirement outcomes. The subsequent report -...

August 22, 2023

NewsIncome, Pension design, UK

21AugAugust 21, 2023

UK. Triple lock helps the poorest pensioners

Discussion of the triple lock for state pensions has to take account of the fact that, according to the House of Commons library, “a comparison of state pension alone shows the UK providing a lower level of pension than most other advanced economies relative to average earnings”. The deficit is somewhat ameliorated for those with private pension income. This results in about 2.1 million pensioners living in poverty. Whatever its political intentions, the economic effect of the triple lock was...

August 21, 2023

NewsInflation, Regulation, UK

18AugAugust 18, 2023

Uncovering the profile of low earners in the UK and the potential for pension saving through automatic enrolment

By Pensions and lifetime savings association In the realm of pensions policy, there exists a significant knowledge gap when it comes to understanding and addressing the needs of low earners in the United Kingdom. While various segments of the population have been subject to extensive research, individuals with low incomes who are still engaged in employment have remained relatively understudied. This group represents a complex demographic, comprising diverse subgroups, who may be earning modest incomes for varying reasons and circumstances. The...

August 18, 2023

Books, Books, Reports, Savings2023, Informal Sector, Pension design, Poverty, savings, UK

September 2023

UK. One in five cut back or axe pension saving – risking a poorer retirement

UK. ‘Real risk of new generation of pension inequality if action not taken’

August 2023

UK pension schemes could save £2bn in fees, research finds

UK pension funds write to prime minister over net-zero policies

Examining the Effects of Changes to UK Auto-Enrollment

UK. Interest rates and pensions: good news and bad

Global Pension Risk Transfer Monitor: Record H1 Transaction Volumes in UK and US

UK. PLSA: Can low earners be safely auto-enrolled in workplace pensions?

UK. Triple lock helps the poorest pensioners

Uncovering the profile of low earners in the UK and the potential for pension saving through automatic enrolment