Categories: Pensions - Retail
Topics: occupational pensions| stock markets| The Pensions Regulator| auto-enrolment
Retirement Planner's round up of the top pension stories this week.
A third of company pensions could be at risk of last-minute drops in the stock market before savers hit retirement, according to a report.
Figures suggst up to 1.8 million company pensions offer no protection from sudden changes in share prices - leaving workers facing huge losses should the market crash, according to the Daily Mail.
Of the 5.3 million company pensions, the remaining 3.5 million switch savers in to less risky types of investment than shares, such as company bonds and gilts, five or ten years from retirement.
For more details click HERE
The Pensions Regulator has contacted tens of thousands of IFAs and accountants as part of its auto-enrolment education drive.
The watchdog said intermediaries were vital to its plans to raise awareness and understanding of employers' obligations as many - particularly smaller firms - would turn to them for information.
In July, the regulator sent out almost 100,000 emails and letters to IFAs and accountants directing them to its guidance and encouraging them to sign up to a email service to keep up-to-date.
For more details click HERE
Members of the Armed Forces Pension Scheme (AFPS) have been underpaid by around £300 per year each.
Over 5,000 former service personnel who have retired since April 2010 have been affected by a mistake in calculations, the BBC reports.
The Service Personnel and Veterans Agency (SPVA) said the problem will be fixed in the autumn and affected pensioners will be reimbursed.
For more details click HERE
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