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Latest DC news
Pension funds bring in Australian ratings firm to support value for money work
SuperRatings – which assesses Australian superannuation funds – attended an industry event to help UK pension funds and regulators develop this country’s value for money regime.
Aviva launches ‘guided retirement’ offering for master trust members
Aviva is the latest company to introduce a flexible retirement product, with the Pension Schemes Bill requiring providers to offer default pension income solutions.
Now Pensions slapped with £100k fine for reporting failures [updated]
The master trust and its trustee company have been fined £50,000 each over communication failings and issues around reporting incidents to the Pensions Regulator.
Liz Kendall indicates adequacy review to begin next week
The work and pensions secretary told MPs yesterday that she was “very concerned” about the challenges facing pension savers and that the government would have “more to say” next week before parliament goes to recess.
PMI criticises omission of adequacy review from Mansion House speech
Rumours had swelled in recent days that the chancellor would use her address to announce phase two of the government’s Pensions Review.
Collective defined contribution news
Decumulation CDC is a natural fit for the UK’s maturing DC pensions
Simon Eagle, a member of the Institute and Faculty of Actuaries’ (IFoA) collective defined contribution working party, explains that traditional defined contribution retirement in the UK is on the verge of a major transformation.
The UK’s pension system needs reform – and purpose
Investing in the just transition through UK businesses can boost the economy, help the planet and improve pension outcomes, argues the Finance Innovation Lab’s Jesse Griffiths.
Risk pooling and fairness in collective defined contribution pension schemes
For CDC to succeed, providers, employers and members need to understand and be comfortable with the pooling of risks, writes the Pensions Policy Institute’s Tim Pike.
TPT preparing to launch first multi-employer CDC scheme
The announcement follows confirmation that the government will publish legislation enabling collective defined contribution schemes later this year
More DC news
Employers pledge to ‘prioritise value over cost’ ahead of adequacy review
More than 20 major employers have committed to prioritising pension value over cost, in a move designed to improve outcomes for millions of UK workers.
Smart targets £10bn by next year as Mody takes over as chair
Raj Mody will succeed Andy Cheseldine as chair of Smart Pension’s master trust board on 1 September.
Asset managers get behind ‘targeted support’ drive for pension savers
The asset management industry’s trade body has said the planned ‘targeted support’ regime for people approaching retirement will be “critical” in ensuring good outcomes.
Nest approaches £50bn and begins paying back government loan
The master trust made a “modest” profit for the first time in the 2024-25 financial year, allowing it to begin repaying its £1.2bn government loan.
Comment and opinion
Tackling ethnic disparities in pension participation through inclusive scheme design
Our pensions system is unfair and inadequate. Will the Pensions Commission fix it?
Is the UK pensions industry doing the right thing the wrong way?
The Friday Takeaway: Retirement riddles and toddlers’ trousers
Decumulation CDC is a natural fit for the UK’s maturing DC pensions
AI in pensions: An opportunity not to be missed