All Defined contribution articles – Page 4
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NewsHow small employers are trying to boost pension saving levels
Small employers are concerned about a lack of retirement saving among younger workers and exploring ways to increase pension engagement, according to new research from People’s Pension.
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NewsLambeth among schemes backing UK venture capital investment drive [updated]
The London Borough of Lambeth Pension Fund is among several LGPS funds to have backed Schroders Capital’s UK Innovation Long Term Asset Fund, backing domestic venture capital companies.
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NewsPension Schemes Bill finalised: Industry hails ‘historic moment’ despite spectre of mandation
The Pension Schemes Bill has been finalised after protracted debates between legislators, and will now move to receive Royal Assent. Pensions Expert rounds up some of the industry reaction across the various elements of the new legislation.
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NewsBill breakthrough as Lords accept final concessions on mandation power
BREAKING: The Pension Schemes Bill is set to become law after further concessions led to a late-night breakthrough over the controversial mandation policy.
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NewsLatest mandation amendment acknowledges government’s role in UK asset sourcing
Pat McFadden, the work and pensions secretary, has put forward changes to part of clause 40 setting out what the government must do before implementing the reserve power to require specific asset allocations.
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NewsPension Schemes Bill still in deadlock after Lords reject third version of mandation clause
Late last night, peers voted against amendments tabled by the House of Commons earlier in the evening that proposed further limitations on the mandation power, and repeated calls for the clause to be removed altogether.
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NewsDC power brokers: Small group of decision-makers overseeing £160bn
New research says the growth of pension ‘megafunds’ is concentrating power in the hands of a small group of trustees, raising questions over accountability, innovation and member voice.
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NewsInequalities leaving workers facing inadequate retirement incomes
A new report has proposed testing pension rules against disrupted career patterns to ensure eligibility criteria work for people with fluctuating incomes or periods out of work.
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NewsGovernment defeated on mandation again after Lords reject fresh limits to reserve power
UPDATE: The House of Lords has rejected the government’s latest efforts to limit the scope of the mandation clause, with one former pensions minister warning the whole Pension Schemes Bill could be at risk.
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NewsPeers urge rethink on scale test to preserve innovation and competition
Members of the House of Lords have warned that the legislation backing the scale test is too restrictive and could stifle innovation among DC providers.
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NewsLords push back on ‘poisonous’ mandation in Pension Schemes Bill debate
In a debate last night (20 April), peers voted to reject the government’s revised wording of the reserve power, despite attempts from Labour representatives to reassure opponents about the measures.
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NewsPPI widens lost pensions survey to include DB schemes as demand for tracing grows
The new study will track how the ‘lost pots’ landscape has changed, examining the number of missing pots, their value and age distribution, while also exploring the underlying causes and the implications for savers and policymakers.
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NewsAccountants slam ‘short-sighted’ pension salary sacrifice cap
The government’s move to cap annual pension contributions eligible for salary sacrifice at £2,000 “will have long‑lasting impacts for both individuals and businesses”, according to the Institute of Chartered Accountants of Scotland.
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NewsWhat do voters really think of pension reform?
As the pensions industry prepares for major – and sometimes controversial – reforms, new research shows voters are split on mandation and unsure about the salary sacrifice cap.
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NewsPension Schemes Bill edges closer as MPs strike down Lords’ amendments
MPs have moved a step closer to finalising the Pension Schemes Bill after the government used its majority to sweep aside more than 80 amendments put forward by the House of Lords.
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NewsStandard Life buys Aegon in £2bn deal to create retirement savings giant
The combined group will be responsible for approximately £480bn of assets under administration with around 16 million customers, Standard Life announced.
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NewsConservatives pledge to repeal mandation clause from Pension Schemes Bill
The Conservative Party has described mandation as “indefensible” and argued that the power to direct investments made by defined contribution master trusts “puts people’s future retirement incomes at risk”.
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NewsNest awards £450m direct lending mandate amid private markets push
The mandate will see Nest deploy capital over “multiple years”, as it aims to allocate as much as 30% of its assets to private markets by 2030.
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OpinionWhat a revised mandation power could mean for DC trustees
With the Pension Schemes Bill returning to the House of Commons this week, Wedlake Bell partner Paul Ashcroft explores the potential impact of a revised mandation clause.
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NewsConservatives slam ‘indefensible’ reserve clause as it returns to Pension Schemes Bill
Shadow work and pensions secretary Helen Whately has hit out at the restored amendment, arguing that it is “still a political hand reaching into people’s retirement savings”.