All Costs and charges articles – Page 14
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OpinionWhat role does culture play in value for money?
Data crunch: I have previously stated that not all managers are equally willing or able to give data, and some are better in both attitude and application than others.
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News
Transparency initiative adds new tools following industry support
On the go: The Cost Transparency Initiative has released additional resources and a new set of tools aimed at encouraging more schemes and asset managers to sign up to the standard, following a strong show of support by the industry for the framework it published last year.
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OpinionDoes paying more deliver more performance?
You get what you pay for, right? As far as fund management is concerned, this old adage does not quite ring true, although as ever there are some caveats.
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News
Schemes to take a £5bn hit as analysts predict deflation
On the go: Pension schemes already suffering the funding implications of Covid-19 could be facing a further £5bn of pressure, as the prospect of deflation later in the year produces a “ratchet effect”, according to analysis by LCP.
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OpinionEconomies of scale: do they exist?
Data crunch: Does size matter? Many fund products come with tiered fee structures, leading to the mantra that the larger the mandate, the lower the unit cost.
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OpinionSegregated mandates – a club for large pension schemes only
With a few exceptions, most pension schemes do not go overboard with the number of asset management products they use.
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NewsNews UK partners with Scottish Widows on pension app testing
Newspaper publisher News UK is collaborating with Scottish Widows on the testing of a new member app, as the pensions industry counts the cost of its failed attempts to boost engagement.
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PodcastsPodcast: Three-month DB contribution holiday ‘might not be enough’
Podcast: Measures introduced by the Pensions Regulator – which allow employers to freeze their defined benefit obligations for three months in response to the economic fallout from coronavirus – might need to be reviewed, warned Emma Watkins, annuities director at Scottish Widows. However, she says the plan gives “breathing space to the most stressed pension schemes”, an opinion shared by Simon Kew, covenant adviser and former manager at the regulator.
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News
The People’s Pension introduces ‘criticised’ annual charge
The second-largest master trust in the UK is changing its charging structure and introducing an annual fixed fee, a model that other providers operate but which has been heavily criticised by experts.
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News
Northumberland and Tyne and Wear schemes plan merger
The government is planning to merge the Northumberland County Council Pension Fund into the Tyne and Wear scheme, in a move that would generate savings of up to 12 per cent a year.
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News
Charge cap could be a barrier to CDC, experts fear
A collective defined contribution pension scheme for Royal Mail employees is inching closer to the starting gate, but an amendment to the pension schemes bill to impose a charge cap could derail other nascent CDCs from ever getting off the ground, according to experts.
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OpinionMinister wide of the mark on self-employed
Instant analysis: Speeches made by government ministers at the Pensions and Lifetime Savings Association's conferences are one of the year's highlights for pensions policy-watchers, and often say as much about the person as the policies they launch.
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News
FCA drops cost requirement for all contract-based funds
On the go: The Financial Conduct Authority has ditched a requirement for workplace pension providers to disclose and illustrate the impact of charges on all of their defined contribution funds, after industry concerns were raised in consultation.
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News
Providers divided on mandatory simpler annual statements
Workplace providers such as Smart Pension and PensionBee are supporting the government’s intention to introduce a standardised annual statement, with calls for legislation if take-up from schemes does not increase.
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News
The People’s Pension fee structure changes delayed
On the go: Changes to The People’s Pension charges structure have been delayed after a problem was encountered during testing.
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Features
Trustees back partial transfers for big pension pots
Data crunch: The number of schemes offering partial defined benefit transfers is increasing, with the option being targeted at members with large transfer values, new data show.
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NewsMPs up pressure on govt over non-commercial dashboard
The government’s failure to commit to a rollout timetable for a new pensions dashboard with state pension data was criticised on Saturday by the Work and Pensions Select Committee.
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News
Johnson lambasts billion-pound costs of LGPS
The stellar investment returns of the Local Government Pension Scheme over the past decade may be overplayed, according to a leading expert from a right-wing think tank, who also controversially claimed that the scheme offers poor value for money.
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OpinionWhat does ‘value’ mean for UK DC schemes?
Data crunch: Broadridge Financial Solutions’ Jonathan Libre dissects the ongoing debate around cost versus quality when it comes to delivering value to members, and why the market might be shifting away from a focus on low costs.
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Features
Delivering value to members is about more than scheme costs
Data crunch: Low costs and charges alone do not guarantee good value for members’ pension savings, research by the Pensions Policy Institute shows.