Monthly Archives: July 2017

News for week ending 28 July

In this week’s news Barclays reveals a funding deficit of almost £8 billion, GKN closes its DB schemes to future accrual, plus the latest pension flexibility statistics.

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Embracing flexible retirement (Pensions Arena July 2017)

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This quarter, our Arena article “Embracing flexible retirement” looks at the impact of the defined contribution (DC) flexibilities introduced in April 2015 two years down the line. Back in 2015, advisers were very excited about the impact on individuals’ retirement decisions. We now may finally be seeing that excitement justified!

When the freedom to take a whole DC fund as cash was introduced, there was seemingly endless commentary on how this would impact both defined benefit (DB) and DC members as they approached retirement. There was also considerable debate on the level and nature of support which companies and trustees should provide to help members in their decision-making.

However, very little then seemed to happen in practice, particularly for DB schemes. In this article, we look at how this is beginning to happen and we consider the consequences for DB and DC schemes.

And, of course, July’s Pensions Arena contains all the usual financial and investment analysis for the quarter ending 30 June 2017, presented in the BAC Dashboard.

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News for week ending 21 July

This week’s news is all about increases – a new timetable for the rise in the State Pension age, a slowdown in increases in life expectancy and confirmation of an increase in the lifetime allowance from April 2018.

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News for week ending 14 July

In this week’s news, the Supreme Court rules that same-sex couples should receive full spouse’s pensions, Frank Field continues as Chair of Work and Pensions Committee and BMW dispute reaches the end of the road.

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News for week ending 7 July

In this week’s news, the Ombudsman rejects a CETV complaint, TPR publishes more enforcement information and a new longevity hedge is agreed.

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