All Defined contribution articles – Page 29
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NewsDashboard consultation: missed opportunities and a lack of clarity
The closure of the joint consultations on the long-awaited pensions dashboard have raised concerns about timing and the direction of both organisations running the show.
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NewsTPR lead reviewer appointed
The Department for Work and Pensions has announced the appointment of Mary Starks to lead a review of the Pensions Regulator.
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NewsRegulators fear savers will make ‘wrong decision’ with pensions info
On the go: The Financial Conduct Authority and the Pensions Regulator are worried that giving savers information about how their pension schemes are performing may lead to them making “the wrong decision”.
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NewsFRC dashboards standard to remain unaltered until 2024
On the go: Dashboard projected assumptions, which came into force last year, will remain unaltered until March 2024, the Financial Reporting Council has announced.
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NewsTrott: Underperforming schemes to ‘improve, consolidate or exit’
Pensions minister Laura Trott has said pension schemes that are underperforming will need to act and either “improve, consolidate or exit the market”.
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NewsGovernment explores CDC decumulation schemes
On the go: The Department for Work and Pensions is exploring whether it could introduce legislation for decumulation-only collective defined contribution schemes, since these could help “improve member choice and outcomes”.
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NewsPension schemes to disclose performance under VfM rules
Pensions schemes will be required to disclose investment performance, net of all costs, as part of the new value for money framework.
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NewsDWP narrows down small pots solution to two options
The Department for Work and Pensions has narrowed down the solution to the small pots issue to either the creation of default consolidators or the introduction of pot-follows-member legislation.
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NewsAuto-enrolment thresholds held amid cost of living concerns
On the go: The government has confirmed that auto-enrolment thresholds will be held at their current levels for the next year.
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NewsDWP to announce DC reforms amid cost of living crisis
The Department for Work and Pensions will be announcing a series of reforms to defined contribution saving, in an attempt to curtail the impact of the cost of living crisis.
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NewsNuclear sector DB schemes reform to go ahead after 5-year delay
The House of Lords has approved amendments to the energy bill that will allow the two nuclear public sector schemes to be reformed in line with government policy, five years after originally planned.
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NewsGovt refuses to commit to increase auto-enrolment contributions
The government has refused to commit to increasing minimum auto-enrolment contributions, despite acknowledging that the current statutory contribution of 8 per cent is “unlikely to give all individuals the retirement to which they aspire”.
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NewsEngineering company appoints LifeSight as master trust provider
On the go: Engineering company KBR has appointed LifeSight as master trust provider for its 6,400 UK defined contribution scheme members.
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NewsTPR urges trustees to support DC savers amid economic challenges
The Pensions Regulator has said savers must be supported during current economic volatility amid concerns the value of some defined contribution pots has fallen.
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NewsInflation drives 18% surge to ‘minimum’ cost of retirement
Retirees trying to achieve a basic standard of living will have seen their expenditure increase over the past year by almost 20 per cent due to high inflation, according to the Pensions and Lifetime Savings Association’s retirement living standards.
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NewsPASA urges master trusts to engage with advisers in dashboards dash
On the go: The Pensions Administration Standards Association has urged master trusts to have “further discussions” with qualified advisers to guarantee they are ready for the pensions dashboards launch.
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NewsDavid Fairs leaves TPR to ‘pursue new challenges’
On the go: David Fairs is leaving his role as executive director of regulatory policy, analysis and advice at the Pensions Regulator in March this year.
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OpinionMember engagement is good, but inertia is better
Quietroom director Simon Grover makes the case for inertia ahead of member engagement.
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NewsTPR appoints FCA’s Delfas as chief executive
On the go: The Pensions Regulator has appointed Nausicaa Delfas as its new chief executive, taking over from Charles Counsell, who is due to step down from the role in March 2023.
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