From the TUC

Pensions & Investment

Can we make the annuity market work?

17 Feb 2014, by in Pensions & Investment

People who save in a Defined Contribution pension scheme build up a savings pot while they are working and contributing. When they retire they need to turn their savings into pension income. Most do so by buying an annuity from an insurance company. An annuity is a promise to pay a steady income until death.…

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A welcome for collective DC

30 Jan 2014, by in Pensions & Investment

In recent days pensions Minister Steve Webb has got into difficulties on pensions charges, but has also made a positive commitment to collective DC pensions. After a few words about charges, this post explains what collective DC is and why it should be of interest to unions.

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Scrapping widows’ pensions?

08 Nov 2013, by in Pensions & Investment

Today’s Daily Mail front page screamed: The death knell for widows’ pensions: Over 1m in private sector could lose historic right to spouse’s benefits That was their much more exciting take on the government’s defined ambition pension paper (blogged yesterday). I expect a lot of widows would have been very frightened by that today. Should…

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Defining our pension ambitions

07 Nov 2013, by in Pensions & Investment

Today the DWP has published what those in the pensions world are calling the defined ambition paper, though its proper title is Reshaping workplace pensions for future generations. This is a rich and welcome contribution to debate, although some of its suggestions on the future of DB pensions will be opposed by unions. There is…

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Good news on pension charges

30 Oct 2013, by in Pensions & Investment

Pensions Minister Steve Webb has published a consultation paper on charges for auto-enrolment pensions today, and the TUC has welcomed it. Of course it is only a consultation so far, and there will no doubt much to watch for in the detail of the eventual proposals. It could also have happened a lot earlier –…

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Cash for pensions

05 Sep 2013, by in Equality, Pensions & Investment

The TUC has today published the 2013 edition of PensionsWatch. Anyone familiar with previous editions in this series (which began in 2003, looking at directors’ pensions in FTSE 100 companies) will find its main results depressingly well-rehearsed, although alarming nonetheless. However, this year’s report documents evidence that not only are directors of the UK’s biggest…

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