DC & Auto-enrolmentRSS

Govt maintains current AE tests for DB and hybrid schemes

News On the Go

On the go: The Department for Work and Pensions has concluded that the current tests used by defined benefit and hybrid schemes for auto-enrolment suitability are fit for purpose.

Can UK councils rent their own streets to fund pensions?

UK houses

Several US public schemes have embraced unusual means of securing funding, including renting property to themselves. Although these tactics cannot be used across the Atlantic, the post-Covid landscape could see a variety of new strategies being deployed in the UK.

Uber ruling may not solve gig worker pensions issue

News On the Go

On the go: The Supreme Court may have opened the door to workplace pension schemes for gig workers by ruling that Uber drivers are workers — but former pensions minister Sir Steve Webb warned the issue may not yet be resolved.

Calls for DWP to change chair’s statement rules

News On the Go

On the go: The Department for Work and Pensions is to publish a review of the effectiveness of defined contribution chair’s statements in April, which has prompted some specialists to call for a major rethink.

Financial wellness: DC sponsors want more from their providers

Hal La Thangue

Data crunch: Sponsors and fiduciaries of UK defined contribution schemes want their providers to offer more than a core pension product.

Schemes should not ‘mindlessly chase’ illiquidity premium

News On the Go

On the go: The chief investment officer of the £19bn Local Pensions Partnership has criticised asset managers promising unrealistic returns from illiquid assets, arguing that they no longer provide the same premium they once did.

Normal minimum pension age set to increase to 57 in 2028

HM treasury logo (teaser)

HM Treasury outlined plans on Thursday confirming the government’s intention to raise the normal minimum pension age from 55 to 57 in April 2028, while devising a “protection regime” that ensures some scheme members retain their current rights.

TPR pledges guidance after royal assent for Pension Schemes Act

News On the Go

On the go: The Pensions Regulator welcomed the Pension Schemes Act receiving royal assent on Thursday, with chief executive Charles Counsell looking forward to the “strong package of measures” it provides and pledging guidance for how they will be used. 

Half of schemes planning to move members into master trusts

News On the Go

On the go: The trend of transferring members of defined contribution schemes to master trusts is expected to continue in 2021, with 50 per cent of employers or trustees planning such moves, or at least signpost these schemes as a retirement option for their members.