All Defined contribution articles – Page 36
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NewsRegulator’s CDC plans risk strangling the sector at its birth
The Pensions Regulator’s draft code of practice for collective defined contribution schemes is unnecessarily strict and risks severely hampering growth in the sector, industry bodies have warned.
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NewsWhat the Spring Statement means for pensions
The biggest rabbit to emerge from chancellor Rishi Sunak’s hat at this year’s Spring Statement was arguably his commitment to lowering the basic income tax rate from 20 per cent to 19 per cent from April 2024.
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NewsIndustry split on auto-enrolment reform timetable
On the go: Experts are split on whether increasing auto-enrolment contributions to 12 per cent can be achieved by the end of the decade.
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NewsPensions allowance tax charges hit record highs
On the go: The number of savers breaching annual and lifetime allowance limits reached new records in 2019-20, according to figures from HM Revenue & Customs.
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NewsDisinvesting on ESG grounds ‘often’ discussed at trustee meetings
Trustees regularly discuss divesting on ESG grounds at meetings as part of wider debates on environmental, social and governance factors. However, complexity means discussion does not always lead to action.
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NewsActuaries call on govt to improve guidance and advice take-up
On the go: The Institute and Faculty of Actuaries is calling on the government and the pensions industry to improve guidance and financial advice take-up.
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NewsPension schemes to tackle deforestation in climate push
Pension schemes in the UK will be expected to do more to tackle deforestation as part of the government’s climate policies, pensions minister Guy Opperman has warned.
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News‘Build back better’ hits wall as trustees report trouble aligning
On the go: Trustees and investment managers are struggling to bring their investment strategies into line with the government’s ‘build back better’ initiative, citing a lack of opportunities and long-term planning.
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NewsHealth research charity closes DB schemes to future accrual
On the go: The Wellcome Trust decided to close its two defined benefit pension schemes to future contributions.
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NewsFour in 10 DC schemes are looking to consolidate
On the go: Forty-three per cent of defined contribution pension schemes aim to consolidate within the next few years, according to new research.
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NewsTeachers accept GDST pensions offer but union remains concerned
Further industrial action at the Girls’ Day School Trust has been averted after teachers accepted an updated pensions and pay offer from the trust, though the National Education Union has refused to endorse it.
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NewsAnti-scam rules result in 500 safeguarding interviews to date
On the go: Nearly 500 people have so far completed a pensions safeguarding guidance interview since new anti-scam rules were introduced at the end of November 2021.
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NewsTextiles business ordered to pay missing pension contributions
On the go: Bolton Textiles Group has been told by the Pensions Ombudsman to make up for an employee’s missing pension contributions, as well as paying £1,000 for the distress it has caused her.
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NewsPensions industry fires back at Opperman criticism
Stalwarts of the pensions world have responded to pensions minister Guy Opperman’s suggestion that the industry lacks long-term vision.
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NewsStaffordshire University staff to walk out over pension reform
On the go: Staff at Staffordshire University are set to walk out over plans to hire new staff through a subsidiary company, meaning they will not be given access to a defined benefit pension.
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NewsParliamentary fund heeds Sunak’s warning over Russia
On the go: The Parliamentary Contributory Pension Fund has ordered its fund managers to divest from Russian assets where possible, after uncovering a small amount of direct Russian holdings.
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NewsEngagement essential for schemes to turn the tide on plastic waste
The role pension schemes play in overcoming plastic pollution is multifaceted, and communicating it with members only adds another layer of complexity, experts warn.
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NewsUSS discourages use of alternative benefits modellers
On the go: The Universities Superannuation Scheme has discouraged members from using alternative benefits modellers to work out how they will fare following the conclusion of the scheme’s 2020 valuation, warning that they operate on very different assumptions to those agreed by employers and the trustee.
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OpinionThe future of pensions
Thornton T Munger, a pioneering research scientist, once said: “The habit of saving is itself an education.” Unfortunately, across the UK, this education is lacking.
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NewsMaster trusts and PPI launch new member database
On the go: Five master trusts, including Nest and Now Pensions, have announced a new research project in tandem with the Pensions Policy Institute.