Three things we learned this week

Retirement Planner’s roundup of the top pension stories

Experts call on govt to confirm pension reform go-ahead

The government must confirm if auto-enrolment is to be put on hold to prevent damage to businesses, following reports it could be delayed, industry figures say.

Reports in the Sunday Telegraph and Sunday Times claimed the introduction of auto-enrolment could be stalled and the obligations on smaller firms could be scrapped as a result of a Cabinet Office report on cutting red tape.

The report, by private equity millionaire Adrian Beecroft, recommended drastic reductions in workers' rights and benefits in order to ease the buden on businesses.

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One in four in LTC runs out of cash every year

Over 80,000 people paying for long term care (LTC) in their homes or in residential units run out of money every year, Key Retirement Solutions (KRS) says.

KRS, which offers a care fee planning service, says one in four of the estimated 345,000 people paying for private care in fall back on the state each year when their funding runs dry.

The switch from private to government-funded care can present a dramatic reduction in service standards, the advice firm said

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45% of people unaware how their pension is invested

Almost half of UK residents (45%) are unclear whether they chose the default option when they last reviewed their occupational pension according to research by Baring Asset Management.

In addition, only one in five say they have chosen the fund allocations of their pension. This is the highest percentage Barings has recorded since 2008.

Chief investment officer Marina Valensise said the lack of clarity highlighted ‘a worrying apathy towards pension investment among Britain's population.'

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