All Costs and charges articles – Page 15
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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.
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OpinionTime for a summer stocktake
Julian Mund, the Pensions and Lifetime Savings Association’s chief executive, reflects on 2019 so far – from master trust authorisation to impressive auto-enrolment figures. But despite some positive developments this year, Mr Mund notes that there is still a significant amount of uncertainty over what the next few months have in store for the pensions industry.
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News
MPs urge DWP to review scope and level of charges cap
The Work and Pensions Committee is ramping up the pressure on the government and the Financial Conduct Authority to cap the level of charges on default retirement products.
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News
Active equity fees fall by 11 per cent since 2017
On the go: The average fee for an active global equity mandate has fallen by 11 per cent since 2017, according to consultancy LCP, as competition from low-cost index tracking vehicles sees costs improve across most asset classes for institutional investors.
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Features
Now Pensions castigated as master trust competition turns nasty
Data crunch: Master trust Now Pensions has published an index claiming its charges have the least drag on an average defined contribution pot, unleashing in the process a barrage of criticism of the provider’s own charging structure and administrative headaches.
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News
Aviva launches ESG default fund
On the go: Aviva has launched a defined contribution default fund with environmental, social and governance considerations at its heart, in line with growing demand from workers.
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FeaturesUS industrial giant completes sectionalised merger of UK schemes
US conglomerate Honeywell has gone ahead with proposals to merge three of its UK defined benefit schemes on a sectionalised basis, in a bid to lower costs and streamline governance.
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News
CMA takes final step in reform of fid man and consultancy sectors
On the go: The Competition and Markets Authority has issued a legally binding order requiring investment consultants and fiduciary managers to provide clearer information about what their customers are getting for their money.
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Opinion
What is the most important feature of a good DC scheme?
Data crunch: There is no doubt that defined contribution pension schemes face a large number of challenges in their quest to deliver good member outcomes.
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News
Templates launched to improve cost transparency in £2tn industry
On the go: The Cost Transparency Initiative has unveiled its templates and guidance for asset managers and suppliers of services to pension schemes, encouraging reporting of costs and charges in a standardised format so trustees can easily compare managers and asset classes.
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News
L&G legacy pension members face higher charges, finds IGC
On the go: In its fourth annual report, Legal & General's independent governance committee gave the company an overall high score, but flagged up steep charges on legacy pension products.
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News
Select committee gives pension industry low marks for transparency
On the go: The pensions and financial inclusion minister Guy Opperman, and John Glen, the economic secretary to HM Treasury, were grilled by the Work and Pensions Committee investigating pension costs and transparency on Wednesday.