The government has abandoned plans to make pension providers include costs and charges in their new simplified annual statements, which could become mandatory for defined contribution schemes in the near future as progress in this area remains slow.
DC & Auto-enrolment
Shareholders force executive pension cuts in FTSE 100 companies
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October 19, 2020
On the go: Calls from shareholders have forced FTSE 100 companies to bring executive pension contributions in line with those received by the majority of their workforce, according to the Investment Association.
TPR eyes pivot to ‘Generation DC’
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October 16, 2020
On the go: The Pensions Regulator has set out long-term priorities for the next 15 years, envisaging a shift in focus towards ensuring the financial wellbeing of defined contribution savers.
PLSA throws weight behind ESG and DC retirement initiatives
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October 14, 2020
The Pensions and Lifetime Savings Association has made a string of recommendations to the government on environmental, social and governance investment issues, alongside a call to point retiring defined contribution members towards “preferred” products.
Experts pour scorn on ‘pensions as deposit’ suggestion
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October 13, 2020
On the go: The pensions minister’s appeal for suggested schemes that would let young savers use their retirement savings to help them on to the property ladder has been criticised as ignorant of the laws of supply and demand by pensions commentators.
DC contributions too small to allow for sustainable retirements
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October 13, 2020
Stagnant incomes, rising wealth inherited later in life, and the relative poverty of defined contribution schemes compared with older defined benefit schemes are all factors that threaten the sustainability of retirement income, according to speakers at the Pensions and Lifetime Savings Association’s annual conference.
Opperman tells savers to engage with pensions to fix climate
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October 6, 2020
On the go: Savers can play an important role in addressing climate change by paying more attention to their pensions and where they are invested, pensions minister Guy Opperman has said.
Aviva pushes for net-zero target in AE default funds
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October 5, 2020
On the go: Aviva is calling on the government to amend the pension schemes bill to make it mandatory for all auto-enrolment default funds to achieve net-zero carbon emissions status by 2050.
Small pots: Experts scorn idea of a pension for life
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October 5, 2020
Data crunch: Experts have decried the radical solution to the small pots’ crisis, a pension for life, despite the threat that sub-scale funds could overwhelm the UK system.
CDC pensions ‘would be 70% higher’ than traditional DC
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October 5, 2020
On the go: A new guide published by Willis Towers Watson estimates that collective defined contribution pensions would be on average 70 per cent higher than traditional defined contribution, and 40 per cent higher than typical defined benefit schemes.