DC & Auto-enrolmentRSS

Sarah Smart appointed permanent chair at the Pensions Regulator

News on the go

On the go: The Department for Work and Pensions has confirmed the appointment of Sarah Smart as permanent chair of the Pensions Regulator.

FCA proposes new illiquid fund structure for DC schemes

News on the go

On the go: The Financial Conduct Authority is proposing a new category of fund that will allow defined contribution schemes to invest in illiquid assets.

Weekly Roundup: USS is the Hotel California

iStock

This week – USS valuation wrangle continues, FRC reprimands an actuary over misconduct, Sunak urged to ‘level up’ the Mineworkers’ Pension Scheme, and multi-jobbers losing out on £76m in pension contributions.

Nest recommits to closing ethnicity and gender pay gaps

News on the go

On the go: Nest has recommitted itself to closing its ethnicity and gender pay gaps, following the publication of data showing more work is needed to achieve parity.

Multi-jobbers missing out on £76m in pension contributions

News on the go

On the go: Low earners with multiple jobs are missing out on £76m a year in employer contributions to their pension due to an “unfair system”, according to Scottish Widows.

FCA tells providers to book Pension Wise sessions for savers

News on the go

On the go: Providers will have to offer to book Pension Wise appointments for clients looking to access their defined contribution pensions, under rules proposed by the Financial Conduct Authority.

PASA to launch DC transfers working group

News on the go

On the go: The Pensions Administration and Standards Association announced on Tuesday more details about its forthcoming defined contribution transfers working group, which has the goal to speed up and lower the risk of transfers between trust and contract-based DC schemes.

Call to scrap ‘draconian’ MPAA as savers raid pension pots

News on the go

On the go: A total of £2.6bn was withdrawn from defined contribution pension schemes under the government’s flexible payment rules during the first quarter of 2021, an increase of 6 per cent year on year from the £2.5bn taken out during the same period last year, according to new statistics from HM Revenue & Customs.

Illiquids not necessarily the answer for DC

Podcasts

Podcast: Brian Henderson, partner and director of consulting at Mercer, and Shola Salako, professional trustee at Dalriada, discuss alternatives to illiquids in defined contribution pension portfolios, putting the S in ESG, and fixing the problems with chair’s statements.

Weekly Roundup: Give him the chair!

Stack of paper (teaser)

This week – DWP admits failings in DC chair’s statements, concerns over the rise in sole trusteeship, new TPR chair endorsed despite conflict of interest fears, and LCP’s warning over dying DB sector.