DC & Auto-enrolmentRSS

Pension freedoms withdrawals reach record high

On the go: The Treasury’s pension freedoms tax bonanza continues, as record sums are being withdrawn.

Thousands of Nationwide scheme members sign up to new portal

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Nationwide Pension Fund has seen successful take-up of its new online pensions portal among members, as the scheme continues to put its faith in online communications and works on new developments for the portal.

Pensions gender pay gap reaches 40 per cent

On the go: Women retire with pension incomes almost 40 per cent lower than men on average, according to new research, despite recent legal efforts to ensure equality in the state pension system.

Pension savers overtaxed by 'staggering' £372.5m

On the go: The government faces growing pressure to review ‘emergency tax’ treatment of pension freedoms withdrawals, after it was revealed that a staggering £372.5m has now been reclaimed by pension savers since the freedoms were launched in April 2015.

More than half of small firms have switched AE provider

On the go: In a fluid market, more than half of small and medium-sized businesses have already switched their auto-enrolment provider. Most firms cited value for money or investment performance as the reason for the move.

Default fund takes on a green hue at WTW master trust

On the go: Following demand from members, LifeSight, Willis Towers Watson’s defined contribution master trust, will allocate around half of the equity investments within its default fund into environmental, social and governance investment strategies by Q4 2018.

Changes to authorisation affecting some master trusts

Last-minute changes made to the master trust authorisation process by the Pensions Regulator have made it hard for a number of schemes to apply, a senior master trust figure has said.

Hammond’s Budget looks to unlock DC savings for patient capital

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The government is to consult next year on whether the charge cap for defined contribution default funds should be changed to unlock greater investment in patient capital, as part of a Budget with significant implications for DC savers.

JLT switch to TDF default sees boost in engagement

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An overhaul of the default arrangement in the Jardine Lloyd Thompson Pension Scheme’s defined contribution section, switching from a lifestyle arrangement to target date funds, has brought its more engaged members back from their self-select funds.

Ford set to offer partial transfers

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Ford has agreed to offer members of its defined benefit scheme the right to partially transfer out half of their pension as cash at retirement, allowing former employees greater flexibility in their benefits.