All Contributions articles – Page 5
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NewsNew proposals set DB schemes on path to ‘low dependency’
Defined benefit pension schemes will need to be funded in such a way that they are in a state of “low dependency” on their sponsoring employer by the time they are significantly mature, under new government proposals.
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NewsUSS annual report shows significant improvement but angers unions
The significant improvement in the Universities Superannuation Scheme’s funding position and resilience has angered the University and College Union, which argued that benefit cuts implemented in April were “totally unnecessary” in light of the scheme’s strength.
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NewsPFA pushes for women’s football pension scheme
On the go: The Professional Footballers’ Association is campaigning for a new pension mechanism for women footballers, which would be similar to an arrangement for their male counterparts that is funded by a levy on transfer fees.
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NewsUSS review sees ‘much improved’ deficit cut by £12bn
Despite an accelerated year-end review conducted by the Universities Superannuation Scheme revealing a “much improved deficit”, with a reduction of £12bn, the trustee board is reluctant to agree to interim changes to benefits of contribution rates before the scheme’s 2023 valuation.
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NewsGovt urged to tackle NHS pensions amid staff retention fears
The government has been encouraged to address NHS pensions in order to tackle staff retention issues, following the announcement of a sub-inflation pay rise of 4.5 per cent for eligible dentists and doctors.
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PodcastsPodcast: Providers delaying transfers are failing their customers
Podcast: The Department for Work and Pensions has been clear about the intent of regulations governing transfers, and providers continuing to delay them are doing their members a disservice, argues PensionBee founder Romi Savova. She is joined by Penfold co-founder Pete Hykin to discuss the ongoing transfer fight, the fallout from pensions minister Guy Opperman’s resignation that wasn’t, and employers misunderstanding auto-enrolment.
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NewsCost of living crisis makes AE expansion unwise
Expanding auto-enrolment during a cost of living crisis would significantly undermine retirement resilience, with low-income earners seeing their surplus income decrease by almost a quarter, according to a new report from Hargreaves Lansdown.
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NewsA third of firms paying minimum AE believe this is govt recommendation
One in three employers who offer the minimum auto-enrolment contribution of 3 per cent to their staff are doing so as they believe this is the government “recommendation”, new research has revealed.
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NewsAlmost one in 10 cut contributions amid cost of living crisis
On the go: Almost one in 10 people (7 per cent) are planning to reduce their workplace pension contributions as the cost of living crisis continues to escalate, according to research from Barnett Waddingham.
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NewsExpected living standards from DC savings rise
On the go: The expected future living standards provided by defined contribution pension savings were higher at the end of the first quarter of 2022 than at the close of last year, Aon’s DC tracker has revealed.
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NewsLGPS escapes McCloud cost-cap breach
On the go: The Local Government Pension Scheme in England and Wales, alongside its Scottish and Northern Irish equivalents, has avoided the cost-cap breach suffered by a number of other public sector schemes resulting from the impact of the McCloud remedy cost on their 2016 valuations.
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NewsOpperman: Employers should provide ‘rainy-day fund’ to keep staff
Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff.
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NewsAE levels out as employers seek change to age threshold
Workplace pension participation is stalling after reaching a rate of 88 per cent of eligible employees last year, according to new figures from the Department for Work and Pensions.
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NewsB&CE and building company botch pensions complaint
The Pensions Ombudsman has ordered B&CE and a building company to compensate an individual, after the employer failed to pay a year’s worth of contributions to his pension and took an excessive amount of time to deal with the complaint.
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NewsABI calls for 12% auto-enrolment minimum contributions by 2031
The Association of British Insurers has called on the government to increase minimum auto-enrolment contributions to 12 per cent by 2031.
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NewsDe La Rue agrees £320mn buy-in
On the go: The £988.7mn De La Rue Pension Scheme has agreed a £320mn buy-in with insurer Scottish Widows.
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NewsFirstGroup ends deficit payments and expects £117mn return
On the go: Transport operator FirstGroup does not expect to make any further contributions towards its defined benefit pension schemes, after asset sales helped push the schemes into net surplus.
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NewsUSS plans funding review as deficit drops to £1.6bn
The £88.8bn Universities Superannuation Scheme has teased the possibility of increasing benefits and cutting contributions, after its latest review revealed a markedly improved funding position.
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NewsAegon and LCP criticise ‘damaging’ FRC dashboard proposals
Aegon and LCP have issued stern rebukes of the Financial Reporting Council’s proposals for calculating pensions projections for the dashboards, with Aegon arguing that the FRC’s preferred methodology would “damage the whole intention behind dashboards”.
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NewsDisabled savers’ pension wealth is just 36% of UK average
On the go: Auto-enrolment is excluding disabled savers, leaving them with pension wealth of just 36 per cent of the average UK saver, according to new research from Now Pensions.