The European Commission has been urged not to introduce new capital requirements for pension schemes which could limit the investment potential of funds.
The number of people aged 90 and over increased by 26% between 2002 and 2011, according to figures published yesterday by the Office for National Statistics.
Chancellor George Osborne has used his Budget to rule out plans to allow pension schemes to smooth the value of their assets and liabilities over a number of years in funding valuations.
Introducing the single state pension a year earlier than planned will net the government an extra £5.5bn in National Insurance revenue and benefit 400,000 women who were hit by an increase in the pension age last year, pensions minister Steve Webb said today.
The majority of insurance companies have defined the level of risk they are willing to accept but most are yet to apply these limits across all aspects of their business, Towers Watson said today.
Plans to introduce a new single tier state pension a year earlier than planned in 2016 could accelerate the closure of final salary pension schemes in the private sector, industry experts have claimed.
Around 200,000 people buying an annuity this year could miss out on a combined retirement income in excess of £200m because of not shopping around for the best deal, MGM Advantage said yesterday.
The head of the European pensions regulator has confirmed that further work will be needed to measure the impact of proposed changes to European Union workplace pensions legislation.
