Ros Altmann has stepped down as UK pensions minister with a call for the new British government led by Theresa May to address some of the major policy reforms needed to ensure pensions meet the challenges facing retirees in the future.
The UK’s Department for Work and Pensions (DWP) has launched a new pension tracing website to help savers track down lost or forgotten retirement pots.
Pension fund costs and charges look set to become more transparent following a new reporting standard proposed by the UK’s Financial Services Consumer Panel (FSCP) on Friday.
There would be widespread support from international advisers for the UK’s Department for Work and Pensions (DWP) to reassess changes to overseas pension transfers, according to research from Old Mutual International (OMI).
Britain’s Work and Pensions Minister Iain Duncan Smith has warned the pension industry to stop dragging its feet over implementing the government’s reforms, which came into effect on 6 April.
Advisers now have to provide pension trustees with details of any transfer advice they give to members of defined benefit pension schemes, according to final guidance by the UK’s pension regulator.
The UK government’s proposal to give Qualifying Recognised Overseas Pension Schemes (QROPS) the same rights as traditional UK-based pensions demonstrates the maturity of the pension transfer market, says deVere’s Nigel Green.
Two UK MPs have agreed to help expat pensioners in their latest fight to gain the right to have their state pensions increased in line with inflation, the way they are for pensioners who remain in the UK.
Reps for more than 500,000 UK retirees are continuing their fight to have their pensions uprated.
