The NISA Pension Surplus Risk index fell in July by 0.6 percentage points to 6.9%. The average plan funded status also went down from 84.4% in June to 84% in July. July’s drop in average funded status followed two consecutive months of improvement. But this was due to discount rate declines that outpaced equity returns. A closer look at how July compared to June Despite the fact that the volatility Read More….
Month: August 2020
With the UK entering its deepest recession since records began, keeping a close eye on your personal finances is more important than ever. According to the Office for National Statistics, Britain’s gross domestic product (GDP) fell in the second quarter by 20.4% compared with the previous three months – the biggest quarterly decline since comparable records began in 1955. Household finances are also falling sharply, forcing many people to take Read More….
Businesses affected by the coronavirus pandemic could encourage staff to quit their company pension scheme, the ombudsman Antony Arter has warned. Currently, it is illegal for businesses to ask or induce employees to opt out of their workplace retirement plan after they’ve been enrolled. But if a member of staff does opt out, the employer does not have to make contributions of at least three per cent of their pensionable Read More….