All Defined contribution articles – Page 36
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NewsTimms backs members amid ‘slow’ Norton resolution
Stephen Timms, chair of the Work and Pensions Committee, has written to the Pensions Regulator to describe the “frustratingly slow” process facing members of the schemes of which funds were invested in Norton Motorcycles, as well as complaints about communications from the trustee, Dalriada.
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NewsMaster trusts call for AE rate increase with opting down option
Pension specialists are calling for the government to introduce an opting down option when setting the next auto-enrolment minimum rate increase as a way of protecting those on lower earnings.
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NewsAlmost half of schemes lacking cyber security testing
On the go: Almost half of pension schemes (43 per cent) have not tested the strength of their plan’s IT systems, processes and procedures for cyber crime protection, according to new research.
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NewsNFU Mutual leads on transfer times while B&CE lags
On the go: NFU Mutual recorded the leading score on Origo’s Transfer Index for the second quarter of 2022.
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NewsInstitute and Faculty of Actuaries issues climate risk alert
On the go: The Institute and Faculty of Actuaries has published a new alert warning of the risk that actuaries may not be appropriately considering or communicating the impact of climate change, and has committed to releasing new guidance in this area.
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NewsAltus and ITM move first on next stage of dashboards journey
On the go: Financial services software company Altus and platform technology specialist ITM have been confirmed as the first participants in the Pensions Dashboards Programme’s “Alpha” stage to move forwards to the next development stage.
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NewsFCA relaunches pension transfer advice checker tool
On the go: The Financial Conduct Authority has relaunched its pension transfer advice checker tool, which has been designed so that consumers can see whether they have received unsuitable advice.
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PodcastsPodcast: ‘Pot follows member’ legislation needed to solve small pots problem
Podcast: Industry consensus is needed to support a ‘pot follows member’ solution to the small pots problem, with previous attempts to solve it having failed, says Henry Tapper, executive chair of AgeWage. He is joined by Tom McPhail, director of public affairs at the Lang Cat, to discuss small pots, commercial consolidators, and more McCloud woe for the Local Government Pension Scheme.
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NewsRailpen tells investors to prioritise companies for engagement
On the go: Railpen, which manages around £35bn in assets for the Railways Pension Scheme, has devised a new “systematic framework” on net zero stewardship in partnership with the Institutional Investors Group on Climate Change.
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NewsGLIL banks record £1.2bn fundraising for infra investment
On the go: Local Government Pension Scheme funds have stumped up £1.2bn towards GLIL Infrastructure for investment in UK infrastructure.
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NewsPublic sector drives workplace pension participation rise
On the go: Increased public sector employment driven by the government’s coronavirus pandemic response led to a rise in workplace pension participation last year, according to fresh data from the Office for National Statistics.
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NewsYoungest ever accredited trustee calls for industry to embrace tech
Lewis Drew, the UK’s youngest ever accredited pension trustee, has urged the industry to embrace technology in order to catch up with other financial services sectors.
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NewsUber faces legal action over Sharia compliant pension arrangements
On the go: The App Drivers & Couriers Union has started legal action against Uber for failing to make Sharia-compliant pension arrangements for its majority Muslim workforce.
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NewsPLSA calls for 12-month dashboards grace period from regulators
On the go: The Pensions and Lifetime Savings Association has appealed for “a degree of latitude” from regulators in the months after the pensions dashboards are introduced.
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NewsVW rejects shareholder proposal, savers in the dark over investments
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including Volkswagen’s rebuff of a shareholder letter concerning its so-called “lobbying activities”, and new research revealing widespread ignorance over how pensions are invested.
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NewsDashboards timeline and guidance barriers concern industry bodies
Two of the pensions industry’s largest organisations have caveated their broad support for the pensions dashboards project with concerns about timing, consistency and red tape surrounding financial advice.
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NewsPension net pay top-ups to begin by 2026-27
On the go: The first top-ups for individuals making pension contributions to net pay schemes will be provided by the government by the 2026-27 tax year, the Treasury has confirmed.
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NewsMinister demands resolution as Dundee Uni staff set for strike
On the go: The Scottish government's higher education minister has spoken out against plans for University of Dundee staff to commence a third round of strike action over proposed changes to their pension arrangements.
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NewsDC infra investments could surpass £100bn by end of decade
On the go: Defined contribution assets invested in infrastructure may cross the £100bn mark by the end of the decade, according to new research.