A service from DG Publishing
Latest DC news
Aviva to support surplus sharing into DC master trust
Aviva’s £15bn defined contribution master trust has launched a service to make it easier for defined benefit trustees to use surplus assets to top up DC benefits.
Trusteeship standards face overhaul as DWP launches consultation
The Department for Work and Pensions has launched a consultation on improving standards of trusteeship, governance and administration across trust-based pension schemes, as consolidation accelerates and trustee responsibilities continue to expand.
Businesses brace for salary sacrifice changes as legislation laid
The government has introduced legislation to limit salary sacrifice for pension contributions to £2,000 a year – but experts warn the impact could be greater than official estimates suggest.
WTW to acquire Cushon master trust as DC consolidation gathers pace
Cushon and LifeSight will operate separately, serving the mid-market and larger end of the DC universe, respectively, according to WTW.
AI adoption ‘could transform member engagement’, experts say
The impact of artificial intelligence on pensions is both “exciting and intimidating” from a trustee perspective, according to Helen Dean, chair of the Standard Life Mastertrust.
Collective defined contribution news
SPP: The long road from CDC concept to reality
The collective defined contribution (CDC) concept is slowly gaining traction, but Iain McLellan of the Society of Pension Professionals asks whether it needs its own ’electric vehicle moment’ to gather more traction across the industry.
Communicating collective DC: Handle with care
With collective defined contribution rules now laid before parliament, Roberto Marrocco, a policy adviser at the Association of British Insurers, explains why communicating this new structure needs care and attention to detail.
Communication, communication, communication: Industry sets out priorities for CDC success
Respondents to the government’s consultation have emphasised the need for retirement-only CDC to be clearly communicated to members and closely aligned with the Pension Schemes Bill’s ‘guided retirement’ rules.
TPT names professional trustee trio to collective DC scheme board
Zedra’s Kim Nash will chair the CDC scheme’s trustee board, alongside Vidett’s Alison Hatcher and Falcon Trustees’ Venetia Trayhurn, with the trio set to oversee the scheme’s authorisation process next year.
More DC news
DC savers need better representation at top level, says Nest board member
ShareAction’s chief executive Catherine Howarth calls for more member representation in DC schemes, while Nest prepares to hold its first “members’ assembly” next year.
Communication, communication, communication: Industry sets out priorities for CDC success
Respondents to the government’s consultation have emphasised the need for retirement-only CDC to be clearly communicated to members and closely aligned with the Pension Schemes Bill’s ‘guided retirement’ rules.
Pensions and IHT: Rule tweak welcomed but industry warns on complexity
Personal representatives will be able to direct pension administrators to withhold 50% of taxable death benefits in order to pay inheritance tax, according to a note in the Budget speech.
People’s Pension reduces government bond exposure over volatility concerns
The £35bn master trust said the changes were intended to “deliver better long-term outcomes” for older savers while continuing to manage drawdown risk.
Comment and opinion
SPP: The long road from CDC concept to reality
Communicating collective DC: Handle with care
Low incomes, different lives: The unequal reality of low earners
Why pensions administration is having a ‘Cinderella moment’
Why the success of targeted support is so important
Adequacy is the challenge of our time – but what can be done?