All Defined contribution articles – Page 28
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NewsOne third of self-employed trial Nest members have ‘zero pots’
On the go: Around a third of self-employed Nest members in a Nest Insight savings trial have never made a contribution to their pension pot.
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NewsNest plans boardroom overhaul in diversity drive
Nest is recruiting for three new non-executive directors as it attempts to improve the diversity of its board, the master trust’s chair has told Pensions Expert.
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NewsTPR threatens £50,000 fines for dashboards non-compliance
The Pensions Regulator will impose fines of up to £50,000 for non-compliance over pensions dashboards.
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NewsValue over cost emphasised in new DC illiquid investment guides
On the go: Defined contribution scheme trustees are being encouraged to shift their focus on illiquid investments from cost to value, in a series of guides published by the Productive Finance Working Group.
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NewsPension savers lose £1.7bn on retirement transition
On the go: Workplace pension scheme members are losing around £1.7bn a year during their transition into and in retirement, according to new research from master trust HSBC Tomorrow.
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NewsProviders called to improve DC decumulation digital tools
On the go: Providers of defined contribution schemes need to “vastly improve” their digital offers so members can make the right choices in decumulation, warns Hymans Robertson.
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FeaturesWhy do savers continue to misunderstand their pensions?
Analysis: The pensions industry spends extensively on member communications, but 48 per cent of employees do not know how much their employer is paying into their pension, according to a survey by The People’s Pension.
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NewsAccreditation scheme launched to tackle lagging switching times
On the go: A new accreditation scheme has been launched to tackle the amount of time it takes to switch savings, investments and pensions between providers.
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NewsRoyal Mail CDC scheme to increase annual payroll costs by £30mn
Royal Mail’s new collective defined contribution scheme is anticipated to increase its annual cash payroll costs by around £30mn, its half-year accounts have disclosed.
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NewsIA cracks down on exec pensions misalignment with workforce
On the go: The Investment Association is increasing its crackdown on FTSE companies where executive pension contributions are not aligned to most of the workforce, according to its latest annual pay guidelines for FTSE companies.
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NewsSingle mothers face £246,000 pension shortfall
Single mothers in the UK are facing a £246,000 shortfall in their pension pots compared with the average couple, and this is being further exacerbated by rising inflation and falling wages
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NewsThree-quarters of asset managers yet to set climate transition targets
On the go: Seventy-three per cent of asset managers surveyed by consultancy Mercer have yet to set climate transition targets — such as goals on achieving net zero — across their strategies.
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NewsCivil servants vote for strike over pensions
On the go: Civil servants have voted to strike with the highest level of support for industrial action in the Public and Commercial Services Union’s history, in a dispute that includes pensions.
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NewsStandard Life transitions £15bn of DC assets into sustainable solutions
On the go: Standard Life has embedded a range of sustainable multi-asset funds for its 1.5mn pension scheme members, with around £15bn of sustainable solutions investments now managed on their behalf.
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NewsDashboards drive 26% surge in MaPS spend on pensions
On the go: The Money and Pensions Service significantly increased its expenditure on its pension streams for its year to March 31 2022, a move it said was driven by its spend on the dashboards initiative.
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NewsContributions surge 40% during decade of auto-enrolment
On the go: Total annual contributions to workplace pensions rose to £114.6bn in 2021, marking a 40 per cent rise since the advent of auto-enrolment in 2012.
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NewsNest Insight launches emergency savings trial
On the go: Nest Insight, the research arm of the Nest master trust, has launched an emergency savings trial with financial wellbeing provider Wagestream to examine employee financial resilience and the impact of different nudges to encourage people to save.
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NewsOmbudsman fines Bionica Systems £1,000 for ‘missing’ contributions
On the go: The Pensions Ombudsman has ordered Bionica Systems to pay missing contributions of £2,311.86 into an employee’s scheme, and a further £1,000 for the “serious distress” caused by the error.
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NewsFBU hits out at senior firefighter use of 'retire and rehire' practice
The Fire Brigades Union has accused some senior bosses across 13 UK fire and rescue services of having used controversial arrangements to access their pension early.