The wider-than-expected definition of default funds in the government’s draft regulation could mean the charge cap applies to multiple funds at a scheme, hiking governance requirements expected of managers.
HSBC Pension Scheme plans to default members of its defined benefit section into its cash lifestyle fund following the closure of the section in July next year, as it reviews its defined contribution scheme following March's Budget reforms.
NAPF Annual Conference 2014: Warburtons, the UK’s largest bread baker, has this year launched the first of a three-part plan to boost engagement among a new swath of pension savers.
NAPF Annual Conference 2014: Senior industry figures have called for independent governance committees to be more like trustee boards in their activities, to protect member interests.
NAPF Annual Conference 2014: As smaller employers reach their auto-enrolment staging dates, beauty brand Nails Inc has said only one of 175 opted out when it auto-enrolled staff in January, which it attributed to knowing what level of benefits employees would want.
NAPF Annual Conference 2014: Drinks company SABMiller will launch additional savings vehicles after one in five workers opted out of its UK defined contribution scheme, with reductions in tax relief a principal factor.
Comment & Analysis
In the latest edition of Informed Comment, Towers Watson's Chris Smith argues that younger people should be taking more risk earlier on in their savings journey, but not through a traditional lifestyle framework.
At this year’s National Association of Pension Funds’ conference, two themes predominated. One was relief, and even self-satisfaction, at the success of auto-enrolment. The other was widespread anxiety ahead of the April deadline for the new defined contribution flexibilities.
Inalytics' Ben Murphy takes stock of an industry under fire from both regulators and the press, and explains how schemes can make sure they protect members' assets in transit, in the latest Technical Comment.
Video: Independent pensions expert and the government's older workers champion Ros Altmann discusses the Budget changes and the chancellor's further pensions tax announcements (4:18).
Video: The Pension Protection Fund's John St Hill, M&G's William Nicoll and Hymans Robertson's Carl Hitchman discuss fixed income challenges, and how schemes can prepare for the end of the low-rate era (6:00).
Craig MacDonald, Head of Credit and Aggregate at Standard Life Investments, gives a clear perspective on how best to approach Fixed Income.
The DC Debate
- The pros and cons of offering drawdown to your members
- Altmann: Death tax removal could incentivise people to stay in pensions
- Why opt-outs are not the only measure of AE success
- SABMiller to offer pension-plus savings options after 20% opt out
- Civil service scheme's online relaunch triggers engagement surge