The magazine of the actuarial profession

News

Workplace pension membership slumps to 15-year lowMembership of workplace pension schemes dropped to 46% last year, its lowest level since records began in 1997, according to figures published today by the Office for National Statistics. 22 February 2013
Half of pensioners 'missing out on state benefits'Over 50% of pensioners are missing out on hundreds of pounds a year of state benefits they are entitled to, according to research published by Just Retirement Solutions yesterday. 21 February 2013
Key Solvency II vote pushed back until OctoberA key vote which is needed for the new rules governing Europe's insurance industry, Solvency II, to be finalised has been delayed again. 21 February 2013
UK faces worst retirement savings shortfall, says HSBCThe average UK retiree will run out of savings just over a third of the way through their retirement, according to a report published by HSBC today. 20 February 2013
Enhanced annuity sales break £4bn barrierUK sales of annuities which offer bigger pensions for retirees with serious medical conditions or unhealthy lifestyles exceeded £4bn for the first time last year, Towers Watson revealed yesterday. 19 February 2013
Ten pension funds signed up to infrastructure platformA total of ten pension funds are now signed up to a government-backed scheme to provide investment capital for major infrastructure projects. 19 February 2013
Flood payouts topped £1bn last year, say UK insurersInsurance claims resulting from flood and storm damage reached £1.19bn last year, the highest since 2007, the Association of British Insurers revealed today. 15 February 2013
Time is right to look at using pensions to fund care, say actuariesThis week's government announcement on social care costs should trigger a discussion on whether pension savings can be used to fund the cost of long-term care, according to the Institute and Faculty of Actuaries. 15 February 2013
Insurers' profits take £19bn hit following pre-crash highEurope's general insurance sector saw its profits fall by £19bn between 2007 and 2011, according to analysis published by PricewaterhouseCoopers yesterday. 14 February 2013
Regulator warns over pension liberation 'predators'Savers are being warned against using schemes that promise to release their retirement cash before they reach 55 in a new campaign launched by government and The Pensions Regulator today. 14 February 2013

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FEATURE

Long-term care: coming of ageLife expectancy has hit record levels, but public age-related spending is likely to have to follow suit. Emma McWilliam and Richard See Toh report