A report on the UK pension sector by PwC has advised the UK government to increase the state pension age to 70 years by 2046. This goes further than the UK government's current plans which will see the pension age in the UK increased to 68 by 2046. Currently the retirement age in UK is 65 for men and 60 for women although the retirement age for women is set to increase to 65 in the short term. So what does this all mean?
In what many believe will become a major sector in the pensions industry Deutsche bank has announced a deal to take on the longevity risks of nearly £3 billion connected to the BMW UK scheme. This is the largest deal of its kind to date and will see BMW transfer the risk that scheme members live longer than expected and the increased costs associated with this.
It has been revealed that the US parent company of the UK version of the Reader's Digest has placed the operation into administration today. This is a matter which we covered some weeks ago in relation to a £125 million pension fund deficit which the US parent company had been trying to resolve with UK pension trustees and the Pensions Regulator.
Kraft Foods has today revealed plans to freeze future payments towards its US pension scheme from 31 December 2019. While this date is obviously some way off into the future it has prompted concern amongst the Cadbury workforce and Cadbury pension fund trustees. So what plans does Kraft Foods have for the Cadbury pension scheme?
It has been revealed that the pension gap between men and women continues to grow with the average male retiring in 2010 likely to receive a pension income in the region of £19,593 a year against...
It has been revealed that the pension gap between men and women continues to grow with the average male retiring in 2010 likely to receive a pension income in the region of £19,593 a year against...
Over the last few days the headlines regarding the UK economy have been fairly negative with an expected impact from the problems within the euro zone. However, more and more analysts and economic...
Over the last few days the headlines regarding the UK economy have been fairly negative with an expected impact from the problems within the euro zone. However, more and more analysts and economic...
It has been revealed that the U.K.'s top 200 pension schemes are in deficit to the tune of £100 billion. While there has been intense speculation over the last few weeks regarding the size of...
It has been revealed that the U.K.'s top 200 pension schemes are in deficit to the tune of £100 billion. While there has been intense speculation over the last few weeks regarding the size of...