FCA annuity provider rules to encourage consumers to shop around

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New plans announced by the Financial Conduct Authority will require annuity providers to make consumers aware of rival deals before they purchase an annuity, and some experts say there should be similar rules for other retirement products.

National Grid goes ahead with new scheme sections

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National Grid has decided on the section allocation of scheme members after agreeing on the creation of three independent sections within the National Grid UK Pension Scheme earlier this year

Thames Water pours money into LDI

Abbey Mills pumping station (Thames Water)

Trustees of Thames Water’s two defined benefit pension schemes have been focusing on risk reduction over the past year, introducing a new liability-driven portfolio for both funds. 

Increased contributions vital to continue AE success story

The real tests of auto-enrolment are still to come, one of the architects of the initiative has warned, as an adequacy report found many defined contribution-reliant members of Generation X are already beyond auto-enrolment’s help.

FCA reveals transfer data as experts note 'dramatic' increase

Close to 8,000 people transferred out of defined benefit schemes and into defined contribution between Q3 2015 and Q1 2016, figures from the Financial Conduct Authority show, but experts estimate the numbers may be even higher.

'Unconflicted' MNTs have a place on trustee boards, experts say

Communicating complicated legislative changes, focusing on defined contribution governance and protecting members’ benefits are just a few of the challenges faced by trustee boards.

Chancellor proposes ban on cold calling, refrains from pensions tax overhaul

Bloomberg

In his first and last Autumn Statement, Chancellor Philip Hammond swapped the timing of the Budget and the Statement but had comparatively little to say about pensions for now; one of the larger measures – a consultation into pensions fraud – was welcomed by the industry.

Comment & Analysis

Illiquid assets: Latest fad or the future of DC investment?

Illiquid assets offer a return premium for investors that can tie up their money, but are they right for defined contribution default funds, and is the industry ready for them?

Autumn Statement: Last but not least

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Editorial: Chancellor Philip Hammond has tried his best to deliver an Autumn Statement the pensions industry would for once be pleased with.

Low 50/50 take-up means assumptions must be revised

Clive Lewis

Recent demographic analysis highlights the fact that the new Local Government Pension Scheme 50/50 option – where members pay half of contributions in return for half of the benefits – has not yet captured imaginations.

Video

How the PLSA's taskforce wants to change DB

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Video: As the Pensions and Lifetime Savings Association has highlighted four areas for potential change to the defined benefit landscape, Ashok Gupta, who chairs its DB Taskforce, talks about the proposals and the taskforce's aims.

How the rate cut affects your scheme

Lynda Whitney interview on interest rate cut

Video: As the Bank of England has cut rates and launched into a new round of quantitative easing, what are the effects on pension schemes and where can they seek cover? Aon Hewitt partner Lynda Whitney gives answers.

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