Newsmakers
UK Higher Ed Employers Propose Switching USS Fund to DC from DB
Plan spurs call for strikes at major universities, including Oxford and Cambridge.
Tag: UK
Union Members Urged to Reject BT Pension Proposals
Communication Workers Union says a major industrial relations showdown looks inevitable.
Research
UK Pensions Improve Funded Status in October
The deficit for UK private sector pensions is down £128 billion from last year.
Research
FCA: Financial Services Complaints Rise Significantly
New reporting methods boost numbers, but increase is “still significant.”
FCA: UK Millennials Are Cash-Strapped, Under-Invested
The majority of 25- to 34-year-olds have no investments, and lag in savings.
UK State Pensions to Rise as Inflation Increases to 3%
CPI reaches highest level since 2012.
UK Insurers Call for Pension Dashboard Legislation
Britons change jobs 11 times in a career, which can create pension confusion.
Capita Staff Plans Nine-day Strike over Pension Changes
Company “surprised and disappointed” with union’s rejection.
Research
JLT: Pensioners Could be Losing by Default
Report says the wrong automatic enrollment default funds could cost UK retirees hundreds of thousands of pounds.
Research
Funded Level for UK Pensions Tops 90% in September
Aggregate deficit declines by £62.4 billion.
UK FCA: Less than Half of DB Pension Transfers Studied Receive Suitable Advice
Report finds only 47% of consumers receive appropriate advice on defined benefit transfers.
Newsmakers
Royal Mail Workers Vote Overwhelmingly for Strike Over DB Pension Changes
Official dates to be determined at Thursday’s union meeting.
Research
UK Private-Sector Pension Funding Levels Rise
DB plans show signs of fiscal improvement in September.
Pension Protection Fund Lowers Levy by 10%
Lifeboat fund reduces levy estimate for 2018-19 to £550 million from £615 million.
PLSA Taskforce Proposes Defined Benefit Fix
Reports says 3 million Britons currently have only a 50% chance at receiving their full benefits.