DC & Auto-enrolmentRSS

Members on lower incomes to pay more in NHS pensions overhaul

iStock

The government has announced its intent to overhaul the way in which NHS Pension Scheme members pay contributions from April next year, following the implementation of the McCloud remedy.

Govt involvement may be needed to find small pots efficiency solution

News on the go

On the go: Ensuring that savers can financially benefit from the savings of small pots consolidation is a “big question for government”, the Pensions and Lifetime Savings Association’s annual conference heard on Thursday.

Industry calls for more data clarity on pensions dashboards

Dreamstime

The Pensions Dashboards Programme will launch new research into how data will be displayed, after concerns around the ability of schemes to supply estimated retirement income figures were raised by industry in a response to a call for input.

Experts warn against major pension tax changes this autumn

Dreamstime

The government’s attempts to source billions of pounds in spending by altering pensions taxation are unlikely to be successful, although the Autumn Budget is unlikely to produce major announcements in this area, experts have said.

Opperman lauds ‘transformational’ climate requirements

Fotoware

Pensions minister Guy Opperman has lauded the government’s “utterly transformational” approach to climate reporting requirements, while promising legislation on “simpler statements” and the “statements season” in the near future.

Sanofi scheme agrees £760m buy-in with L&G

News on the go

On the go: The £3.1bn Sanofi Pension Scheme has agreed a £760m buy-in with Legal & General Assurance. Separately, the scheme terminated an emerging market manager and replaced it with two new managers during 2020. 

‘Stronger nudge’ still possible, but cost benefits need to be understood

News on the go

On the go: A stronger guidance nudge may be needed to increase the number of savers using the Pension Wise service, but it may not be enough to drive a significant uptake or deliver the right kind of engagement, the Pensions and Lifetime Savings Association’s annual conference has heard.

Most pension schemes falling short on climate commitments

News on the go

On the go: An overwhelming number of large UK pension schemes are yet to make net-zero commitments ahead of the COP26 summit, pensions campaign group Make My Money Matter has revealed.

DC payments steady during Covid, but statutory rise may be needed

News on the go

On the go: Most companies with defined contribution schemes did not reduce their pension contributions during the pandemic, according to the latest CBI/Mercer Pensions Survey.

BoE sets out illiquids ‘roadmap’ but doubts remain

iStock

CPD: Despite a detailed report from the Bank of England suggesting a roadmap for DC schemes to invest in illiquid investments, industry professionals and members have doubts about the practical implications of these allocations, writes Benjamin Mercer.