All Defined contribution articles – Page 117
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News
'Gold standard' pensions unattainable for most
Average earners targeting a “gold standard” pension of two-thirds pre-retirement income will need to work to age 77 at statutory minimum contribution levels, a new report has projected, underscoring the key role default levels will play as auto-enrolment matures.
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News
Transfers to be streamlined as more ask for quotes
The Pensions Regulator will introduce new guidance to ensure transfers between defined contribution schemes are completed promptly, the government said last week. This comes as defined benefit transfer values recovered in January after hitting a low in December.
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FeaturesThomson Reuters trailblazes in-scheme drawdown, but obstacles remain for small schemes
US-based media company Thomson Reuters has opted to provide in-scheme flexi-access drawdown to UK members in response to pension freedoms, bucking the trend for occupational trust-based scheme offerings in the new environment.
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NewsNew report demystifies DC asset security
A new report from the Security of Assets Working Party will provide some much-needed guidance on defined contribution asset security and compensation, advising trustees to adopt a “pragmatic and proportionate approach” to a highly technical area.
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NewsEmployers feel the squeeze of AE
Employers are feeling the cost of providing auto-enrolment far more than scheme members, research from the Chartered Institute of Personnel and Development has shown.
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FeaturesRoyal Mail runs survey as freedoms heighten need for engagement
The Royal Mail Pension Plan is running an online member survey to judge engagement and levels of understanding among its members as freedom and choice makes member decisions even more important.
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FeaturesFinancial pressures and demise of DB affect millennials' pension expectations
Feature: Three-quarters of UK employees expect to be be poorer in retirement than their parents, reversing the apparent laws of financial progress.
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News
Rise in member contributions at Scottish Power shows impact of online tools
Energy company Scottish Power has seen a tenth of its stakeholder pension plan up their contributions following the introduction of a member portal that models pension outcomes and warns if an individual is likely to miss their target.
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OpinionInvestment lessons from DB
Talking Head: Defined contribution schemes could pool assets and risk to improve returns, says the Society of Pension Professionals’ Duncan Buchanan.
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NewsCost and complexity increase support for multi-employer schemes
The cost and complexity of running a pension scheme is increasing the appeal of multi-employer schemes, experts have said, as a survey shows industry support for government-backed scheme consolidation.
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NewsSavers slow to embrace freedoms, PLSA report shows
The majority of the 2.8m defined contribution savers eligible to access pension freedoms have not yet done so, new research has shown, as low financial confidence and high risk aversion stalls the freedoms.
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News
DC consolidation driven by more than auto-enrolment
The number of people saving into large defined contribution schemes has more than quadrupled since 2009, figures from the Pensions Regulator have shown, as signs of DC consolidation begin to appear.
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News
Member-borne commission ban could move costs elsewhere
The Department for Work and Pensions has launched a consultation on draft regulations for banning member-borne commission in auto-enrolment schemes, but experts said costs would still need to be shouldered elsewhere.
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News
Simpler AE could benefit small employers
Further simplification of auto-enrolment regulations, now under consultation by the Department for Work and Pensions, will benefit small employers, but industry experts have said the policy is still playing catch-up with “horrendously complex” legislation.
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OpinionPMI: Move to cash undermines pensions as HR tool
Talking Head: The Pensions Management Institute’s Tim Middleton says it is time to rethink the increasing move towards cash in pension provision.
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News
Enquiries spike ahead of lifetime allowance change
As the deadline for members to take action looms, more savers are realising they might be affected by the planned reduction to the lifetime allowance, leading to a spike in customer enquiries at provider Fidelity.
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FeaturesPanning for gold in an age of information
Any Other Business: The mounting complexity of pension trusteeship has been met by a surge of information and intelligence sources. But how can trustees be successful prospectors as they mine the industry for useful nuggets?
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OpinionInput > income > outcome
Editorial: A flurry of innovation in defined contribution scheme design has been catalysed by the pension freedoms. Glidepaths are forking out in an attempt to capture the wants and needs of this new age of retiree, while diversified growth funds continue to find homes in these newly lengthened growth phases.
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News
Tougher nudge needed to make freedoms a success
Consumers will not have enough money to benefit from the opportunities the pension freedoms present, a report has warned, and any success will hinge on auto-enrolment becoming more prescriptive.
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News
Retirement expectations at odds with reality
Analysis: People retiring in 2016 expect a retirement income of £17,700 a year, new research has shown, but industry experts have questioned how this figure will be maintained as the decline of defined benefit provision accelerates.