All Defined contribution articles – Page 101
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Features
Has the industry kept its promise on at-retirement innovation?
Analysis: When the Department for Work and Pensions allowed the industry to block mastertrust Nest from entering the drawdown market in 2017, it did so with a proviso; the industry had to drive innovation itself.
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News
RSA calls for pensions tax reform to boost saving for self-employed
The Royal Society of Arts has published wide-ranging recommendations seeking to tackle the four key barriers to saving for the self-employed, underpinned by a call to introduce a flat rate of tax relief on pensions contributions.
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OpinionOne year out, Brexit is still a major pensions risk
Market volatility may be the Brexit-related phenomenon that most hurts UK pension schemes, writes EY’s Gordon Wood, but the decision to leave the EU also has implications for sponsor covenants and regulation.
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News
Savers misjudge lifespans, as experts call for comms overhaul
Savers are underestimating their life expectancy, with ‘survival pessimism’ potentially driving the unpopularity of annuities, according to a new report.
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OpinionAdmit mistakes and encourage discussion to prevent repetition
Sean Burnard from Law Debenture Pension Trustees explains how creating a learning culture, seeking diverse opinions and carrying out premortems can help trustees avoid making new mistakes or repeating old ones.
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OpinionThe freedom not to choose
Editorial: Default options for would-be retirees are the industry’s new darling, as poor support for savers at retirement still blights the UK pension system.
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News
UK could profit from Australia’s missed default opportunity
A default drawdown proposition rejected by the Australian government could offer “freedom from the pension freedoms” for unengaged savers who cannot afford advice at retirement, it has been claimed.
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OpinionESG will drive pensions into the future
Just like a car, pensions need to be future-proof, says Nest’s Diandra Soobiah.
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Opinion
Is ESG on course to become the norm in DC defaults?
Late last year the UK government said it was “minded” to make pension fund trustees produce environmental, social and governance statements.
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News
Retirement defaults would strengthen UK system, experts say
UK pension commentators often point to the Netherlands as an example of a country with a good pensions system, but the UK’s introduction of freedom and choice has also attracted interest from Dutch pension experts.
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OpinionWhat could we expect from the regulators’ joint pension strategy?
How could the Financial Conduct Authority and the Pensions Regulator’s joint strategy improve pensions regulation? Aegon’s Kate Smith discusses the regulators’ current responsibilities and the benefits of the watchdogs working together on certain issues.
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Opinion
Has auto-enrolment come of age?
Since its inception almost six years ago, auto-enrolment has succeeded in relying on inertia to help more people save for retirement, that much is clear. Uncertainty and a need to build on this success, however, remain.
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Features
Pearson follows pack in targeting drawdown for DC defaults
The Pearson Pension Plan is introducing two new lifestyle options for its defined contribution members as they approach retirement, responding to a perceived demand for greater flexibility.
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News
The People's Pension absorbs Your Workplace Pension
The People's Pension has become the first mastertrust to publicise the acquisition of another mastertrust, as a new regime – under which mastertrusts must be authorised by the Pensions Regulator – is set to lead to further market consolidation this year.
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News
Default drawdown tops select committee's at-retirement wishlist
Providers of drawdown products should be required to develop charge-capped default products to help disengaged savers make their pension last, the Work and Pensions Committee has recommended.
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OpinionWe need to better connect with members
Engaging scheme members is vital if we are to close the savings gap, says Redington’s Lydia Fearn.
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OpinionClear and simple communication is key to preventing opt-outs
Rosemary Lemon, group head of reward at Hays, explains how employers can help prevent opt-outs while raising awareness of the importance of saving for retirement.
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OpinionHow comms can help close the gender savings gap
From the blog: With the gender pay gap sitting firmly in the spotlight, it is not surprising we are also seeing a flurry of discussions about why women save less, and what should be done about it.
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News
TPR to prosecute recruitment firm
The Pensions Regulator is to prosecute recruitment company Workchain Ltd and seven of its directors and staff for unauthorised access to a computer programme. They are accused of logging into the company pension scheme using employees' details to opt them out of the scheme.
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OpinionHow to ensure good value for members
From governance and investment to member engagement and communications, seven experts, including HR directors, look at how employers, providers and trustees can ensure better outcomes for members of defined contribution schemes.