The Supervisory Board of Daimler AG today decided on an extraordinary contribution to the pension fund of €2.5 billion, split proportionately between the Daimler AG, EvoBus and the Daimler Financial Services companies.
Responding to today’s publication by the FCA of its annuities sales review and retirement income market study, the Financial Services Consumer Panel has called on the FCA to take action to address the persistent problems in the annuities market.
The NOP, a portfolio aimed at real assets and real estate mandates, accounted for 0.2% of the fund’s assets at the end of March this year, around £27m.
The total assets under management of 6,057 schemes tracked by the PPF index were 1,233 billion pounds, while liabilities stood at 1,454 billion pounds.
Wake-up packs are documents sent to those approaching retirement by pension providers to inform them of their right to buy an annuity, but they have been criticised in the past for being too long, and can often run to 22 pages.
A new government could destroy the public’s faith in pensions if it reversed the changes announced by chancellor George Osborne in the Budget, the chief executive of platform provider AJ Bell has warned.
Leading law firm, Irwin Mitchell, has announced that it has appointed DWF’s UK Head of Pensions, Martin Jenkins, to its fast-growing London office.