All Decumulation articles – Page 2
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News‘Let’s rethink all’ member options before dashboards introduction
Legislative and policy assumptions about member behaviour as they approach retirement are completely out of sync with reality, and now is the time to “rethink all of it” before dashboards are introduced, according to Philip Brown, group director of policy and external affairs at B&CE, provider of The People’s Pension.
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NewsRetirement guidance is improving but decumulation challenges remain
On the go:Support available to those approaching retirement is improving, particularly in master trusts, but a comprehensive framework is still required to ensure all savers get the help they need, according to new research.
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NewsDWP questions industry on Nest’s fund offering
The Department for Work and Pensions is gathering views on support available to scheme members when making savings decisions, and is questioning the industry on whether Nest’s current offering is sufficient.
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NewsScottish Widows: Providers need to treat customers like human beings
Pension providers need to do more to satisfy customers along their complicated retirement journeys — otherwise the industry is at huge risk of being blamed for not doing enough, according to Cheryl Black, independent trustee on the Scottish Widows Master Trust.
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NewsMaster trusts and PPI launch new member database
On the go: Five master trusts, including Nest and Now Pensions, have announced a new research project in tandem with the Pensions Policy Institute.
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PodcastsPodcast: Universal charges could harm master trust competition
Podcast: The intent behind universal charges on default funds is sound, but the method — such as the introduction of flat fees — risks harming the master trust sector and restricting access to pensions, according to The People’s Pension’s director of policy Phil Brown. He his joined by his colleague, head of pensions policy Tim Gosling, to discuss charge structures, decumulation solutions, and baffling pensions jargon.
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NewsPLSA targets ‘adequate income’ for 2022
On the go: Securing a policy regime that guarantees an adequate retirement income for most savers will sit at the top of the Pensions and Lifetime Savings Association’s list of priorities this year, it has announced, with the industry body advocating for the expansion of auto-enrolment.
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NewsRegulators’ value for money paper branded ‘utopian’ by SPP
On the go: The Society of Pension Professionals has criticised the “utopian” value for money discussion paper published by the Pensions Regulator and the Financial Conduct Authority, arguing that there is “no practical way” of achieving the goals set out.
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NewsFifth of businesses are interested in CDC schemes
On the go: More than a fifth of businesses are interested in setting up a collective defined contribution scheme for their employees, according to new research from the Association of Consulting Actuaries.
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NewsTisa calls for pension decumulation policy reform
On the go: The Investing and Saving Alliance is calling on regulators and the government to reform pension decumulation policy that will impact four main areas.
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News‘Stronger nudge’ still possible, but cost benefits need to be understood
On the go: A stronger guidance nudge may be needed to increase the number of savers using the Pension Wise service, but it may not be enough to drive a significant uptake or deliver the right kind of engagement, the Pensions and Lifetime Savings Association’s annual conference has heard.
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NewsACA urges steps to fill guidance ‘black hole’
On the go: The Association of Consulting Actuaries has argued that fixing the “disjointed” and “fragmented” system that is UK pensions provision is vital if the full potential of pension freedoms is to be unlocked.
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NewsPLSA calls for new legislation to support members at retirement
On the go: The Pensions and Lifetime Savings Association has called on the government to introduce legislation underpinning a new set of product, communication and governance standards to build on pension freedoms and provide greater support for savers at retirement.
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News
Govt should boost CDC pensions to rebalance consumer risk
The Institute and Faculty of Actuaries has proposed a number of measures to tackle the so-called ‘great risk transfer’, among which is a call on the government to emphasise the benefits of collective defined contribution schemes as an alternative to traditional DC pension arrangements.
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News
PLSA framework to help savers navigate ‘confusing’ freedoms
On the go: The Pensions and Lifetime Savings Association has proposed a new regulatory regime that will require schemes to support savers when making decisions about how to access their pensions.
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OpinionWhat we can learn from Chile’s pension system
Under the Pinochet dictatorship, Chile experienced a rapid and controversial series of economic reforms, which sought to create a purist free-market economy on the Chicago School model.
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Opinion
Drawdown is climbing the DC agenda — but there’s no easy fix
Data crunch: Broadridge’s Hal La Thangue on that as-yet unsolved problem of decumulation products suitable for the coming generations of retirees
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News
FCA launches investigation into decumulation advice
On the go: The Financial Conduct Authority will carry out an investigation into the suitability of pension decumulation advice.
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News
FCA delays investment pathways for 6 months
On the go: The Financial Conduct Authority is delaying the introduction of investment pathways in drawdown for six months, as it cuts non-critical work amid the coronavirus pandemic.
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News
Renewed calls for govt to set up pensions commission
On the go: Two think tanks are calling for the government to set up a new pensions commission, after it found cross-party support for such an initiative.
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