The switch to digital solutions in the pensions sector will accelerate in 2021 putting pressure on firms relying on outdated legacy systems, SIPP provider iPensions Group believes.
Nearly six years on from the introduction of Pension Freedoms, new research has shown that older savers are sleepwalking into retirement and risk running out of all their Defined Contribution pension savings with a third of their retirement still ahead, meaning they could spend their final years reliant on the state pension.
Mercer is forecasting continued growth in risk transfers during 2021, with close to GBP60 billion of bulk annuities, longevity swaps and new risk transfer solutions projected.
At least one in three, or nearly 4.3 million Gen Xers, are set to reach retirement with minimal retirement incomes, new research finds.
iPensions Group has launched its Adviser Portal as it continues the technological transformation focused on innovation in the SIPP market to support advisers and their clients.
The Pensions Scams Industry Group (PSIG), which was established in 2014 to help protect pension scheme members from scams, has welcomed the Local Pension Partnership Administration Ltd (LPPA) as the first organisation to join its Pension Scams Industry Forum (PSIF).
Data obtained in a Freedom of Information (FOI) request made by Duff & Phelps from the Financial Ombudsman Service (Fos) shows that consumer complaints against firms for misadvised defined benefit (DB) transfers rose from 441 in 2018 to 554 in 2019, a 26 per cent increase.
More than three quarters of UK adults who have a pension think pension companies should have powers to help prevent fraud
Nearly eight out of ten (78 per cent) retirement savers agree that pension providers should be able to stop a pension transfer if fraud is suspected, a new survey has revealed.
Majority of UK adults who have a pension remain committed to saving for a pension despite despite Coronavirus crisis
The majority (82 per cent) of UK retirement savers do not appear to have made any changes to their pension, despite the fact more than four in ten workers (45 per cent) have been impacted by the coronavirus pandemic in some way, a new survey has indicated.
Over 14 million savers now have access to the PLSA’s Retirement Living Standards (RLS) helping them to picture their retirement futures.