All Defined contribution articles – Page 122
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OpinionGuidance should be the ‘aperitif’ of the wider advice process
Good guidance around the point of retirement will not be enough to ensure individuals manage the shape of their income in later life effectively, industry commentators have said.
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News
What to do if your DC sponsor goes bust
Defined contribution trustees must respond quickly when scheme sponsors go into administration, particularly in scenarios where financial distress has delayed payment of contributions into the safe haven of a scheme.
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OpinionWhy employers should facilitate a drawdown route for employees
From the blog: Since the pension reforms were introduced in April 2015, retirement is being talked about more than ever before. This is mainly because these laws will affect almost every employee and employer.
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NewsRBS banks on preferred provider for drawdown
Royal Bank of Scotland’s defined contribution scheme is exploring the addition of a drawdown option via an external provider to enable a seamless transition into retirement for its members.
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News
Knowledge sets the bar in regulator's draft DC code
The Pensions Regulator is basing its leaner draft code of practice for trustees of defined contribution schemes on 'knowledge and understanding' requirements, which will mark out those in need of further training.
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Opinion
DC design: Six graphs on employers’ direction of travel
From the blog: It’s time to turn words into action. While schemes have been extolling the feted ‘better member outcomes’, little movement is taking place to turn hopes and dreams into components of success.
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Opinion
DC Debate: Autumn Statement, VfM and governance
In this final quarterly DC Debate of the year, our seven panel members discuss the speed at which DC reviews are being carried out, the effectiveness of IGCs, value for money in the real world and Autumn Statement predictions.
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News
Auto-enrolment pause button 'unhelpful' for momentum
An "emergency pause" could be triggered if auto-enrolment frameworks become overwhelmed by surging demand, but industry commentators say the government’s contingency plan “damages the momentum” behind the rollout of the initiative.
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NewsM&S completes re-enrolment, experts warn of governance risks
Marks & Spencer Pension Scheme has successfully completed re-enrolment, having reached the three-year staging anniversary, but experts say schemes should review their processes to avoid tripping over nuances in the rules.
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OpinionPMI: Drawdown needs minimum income floor to avoid depleted pots
Talking Head: The PMI’s Tim Middleton explains why, when push comes to shove, annuities are an inevitable part of retirement income provision for the majority of savers.
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News
Shared pain, shared gain: Will risk-sharing get its day in the sun?
News Analysis: Collective defined contribution schemes have been put on ice by the pensions minister though the idea could come back on the agenda in the future. But are UK employers ready for risk-sharing?
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Opinion
How does the use of DGFs differ between DB and DC portfolios?
Roundtable: Aberdeen Asset Management’s Mike Brooks, Aon’s James Monk, Buck Consultants’ Nick Ridgway, Capital Cranfield’s Jonathan Reynolds, LCP’s Kevin Frisby and PTL’s David Hosford, review how DB and DC schemes use DGFs in different ways, in the second part of this roundtable.
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News
Annuity demand expected to resurge
Annuity sales will increase from this year despite the new pension flexibilities, as retirees recognise their need for a level of certainty in retirement, new research has suggested.
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News
Trustees and IGCs gifted with new tools to aid DC reporting
Trustees and committees overseeing defined contribution arrangements have been thrown a line with new reporting templates to help them meet their governance obligations, but some argue a comparative framework could further strengthen the assessment of value in DC.
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Opinion
Data crunch: Annuities market being reshaped, not destroyed
We are seeing the annuity market being reshaped before our eyes with astonishing speed. It is sometimes said that pension freedoms have destroyed the annuity market, but is this true?
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NewsTrinity Mirror reviews advisers ahead of DC default appraisal
Trinity Mirror Pension Plan has carried out a consultant review ahead of an appraisal of its defined contribution default fund, spurred by the introduction of the freedom and choice reforms.
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News
First Aberdeen drivers see pensionable pay drop
FirstGroup changed the basis for its calculation of pensionable pay last year to comply with auto-enrolment legislation, but the nationwide shift has disproportionately impacted the benefits of First Aberdeen bus drivers.
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News
How schemes can protect their members online
Trustees must be extra vigilant in their assessment of online platforms and review data-handling processes to protect members from the growing threat of cyber crime, experts have said.
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News
Fuzzy 'new normal' begins to emerge from pension freedom data
Gaps in the data on consumer behaviour following the freedom and choice reforms introduced earlier this year are creating a muddled picture of people’s choices, experts have said.
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Opinion
Altmann: Government needs your help to revise charging model
Talking Head: Pensions minister Ros Altmann requests the pensions industry’s help to transition away from schemes with member-borne charges.