Thinktank the Centre for Policy Studies has highlighted the need to shield savers from financial risks in later life through the idea of “auto-protection”, with the introduction of auto-drawdown, followed by auto-annuitisation at age 80.
With the world of pensions constantly changing, employers and trustees are investing more time, effort and resources into liaising with members, but face-to-face communication has been deemed particularly effective when it comes to bad news.
Efforts to improve the level of experience and competence of trustee boards must not come at the expense of diversity, politicians have warned, as dealing with groupthink remains a key concern in defined benefit pensions.
The Pensions Regulator has been asked to look at streamlining the process for providing cash equivalent transfer values, after complaints from advisers that delays in schemes providing necessary information meant members were missing out.
The number of women retiring without a pension has dropped, new research shows, but nearly 14 per cent of people have not made provisions for their retirement, highlighting the significance of the state pension for savers.
The Centrica Combined Common Investment Fund, which manages holdings for the energy giant’s pension schemes, has trimmed its exposure to corporate bonds, reweighting its portfolio towards high-yield debt.
Comment & Analysis
Editorial: The pensions dashboard will, it is hoped, change the way people look at their pension in more than the literal sense.
The PPF’s David Taylor explains the proposed new levy for schemes without a sponsor, and reveals that further stakeholder input will be sought.
Cost is important, but transparency can also give investors a better grip on risk, says Redington's Dan Mikulskis.
Video: What do businesses say about the defined benefit green paper's focus on regulation, and where do unions have concerns about member protection? Rachel Smith, principal labour market economist at the Confederation of British Industry and Tim Sharp, policy officer at the Trades Union Congress, give their views.
Video: With short-term inflation rising, are interest rates likely to go up, and should unhedged schemes go into LDI now? How can growth assets be combined with LDI products, and what role will cash flow play for LDI strategies? Jonathan Crowther, head of UK LDI at Axa Investment Managers, and Sophia Heathcoat, investment consultant at Barnett Waddingham, discuss their expectations for LDI.
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.