All Defined contribution articles – Page 50
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NewsDWP’s move to DC universal charge structure could do ‘serious damage’
Industry commentators are worried about the Department for Work and Pensions’ proposal to introduce a universal annual management charge in defined contribution default funds, warning that the move is premature and could do “serious damage” to the pensions market.
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NewsFCA to focus on driving value for money for savers
On the go: The Financial Conduct Authority is planning to access how to drive value for money in pensions during accumulation, its business plan for 2021-22 has revealed.
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NewsPension tax change proposals branded ‘tragic’ and ‘crazy’
On the go: Rumours that the Treasury is planning to raid pensions have been branded “tragic” and “crazy” by speakers at a Hymans Robertson webinar, who warned that any reforms harming incentives to save could undo the work put in to boost retirement standards.
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NewsExperian revamps pension comms as over-50s face pandemic sting
As the financial crisis resulting from the pandemic has made many savers rethink their attitude towards pension savings, Experian has revamped its communications to scheme members in a bid to help them avoid “costly mistakes”.
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NewsPensions dashboards staging timeline too ‘ambitious’
On the go: The Pensions and Lifetime Savings Association, while “fully supportive” of the goals of the Pensions Dashboards Programme, has argued that delivery against the proposed staging timeline appears ambitious.
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NewsEmployers eye better master trust options as market matures
On the go: Investment consultancy Willis Towers Watson is predicting a secondary defined contribution master trust market could emerge as one in eight early adopters of the pension solution have revealed they will look to review their providers.
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NewsPASA launches GMP conversion guidance
The Pensions Administration Standards Association has published guidance on guaranteed minimum pension conversion for trustees striving to achieve GMP equality, providing examples of approaches that have been adopted or considered by “early movers”.
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NewsCalls for a ‘rethink’ as dashboards call for input closes
The Pensions Dashboards Programme’s latest call for input closed on Friday. Industry figures, though encouraged by progress made on timescales, said problems stemming from inadequate disclosure regulations and estimated retirement income remain, leading LCP to call for an implementation “rethink”.
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PodcastsPodcast: Tapping DC for Long-Term Assets Fund requires ‘rigorous’ scrutiny
Podcast: HM Treasury’s proposals to tap defined contribution schemes for its new Long-Term Assets Fund is not a bad idea, but problems with daily dealing remain, and it requires the kind of “rigorous” scrutiny applied to other new asset classes. PensionBee chief executive Romi Savova and Jonathan Parker, head of DC and financial wellbeing at Redington, discuss the LTAF, rumours of a tax raid, and the Pensions and Lifetime Savings Association’s new Responsible Investment Quality Mark.
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NewsCovid-19 pressures accelerate rate of DB scheme closures
On the go: Analysis by the Pensions Policy Institute, sponsored by the Trades Union Congress, has shown that the pressures of the coronavirus pandemic have accelerated the rate of defined benefit scheme closures, but member outcomes are far less reliable in defined contribution schemes.
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NewsOver-50s fear retirement poverty
On the go: Adults aged over 50 in the UK are worried about their financial future, with almost a third admitting to concerns that they will not have enough money to live off in later life, according to research by SunLife.
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NewsPoor choices under pension freedoms cost savers £2bn
Savers taking advantage of pension freedoms to cash out before retirement have suffered £2bn in lost returns, spurring calls for better financial education, according to analysis by LCP.
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NewsYounger workers risk losing track of pension pots
On the go: Younger workers unaware of their pension arrangements face losing track of their pension pots as the economy recovers from Covid-19.
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NewsCovid-19 spurs wave of interest in sustainable investing
Almost two-thirds of European asset and investment managers believe that the pandemic has made sustainable investing more important, according to Schroders’ Institutional Investor Study 2021.
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NewsNAO launches investigation into underpaid state pensions
On the go: The National Audit Office is to investigate the issue of underpayments of the state pension to women, looking at how it happened and what is being done to resolve it.
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NewsNearly a third of Gen Xers have inadequate pension savings
Almost one in three Generation Xers — individuals aged between 41 and 56 — have inadequate pension savings and face a minimum-at-best standard of living in retirement, according to research by the International Longevity Centre and Standard Life.
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NewsDesire for cryptocurrencies is ‘deeply concerning’
New research from CoreData has shown almost half of millennials, people aged between 25 and 40, want to invest at least part of their pension in cryptocurrencies such as bitcoin. Experts, however, have warned that cryptocurrencies remain a long way off being a viable investment option.
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NewsPASA unveils counter-fraud guidance
On the go: The Pensions Administration Standards Association has unveiled its latest counter-fraud guidance, taking aim at scammers and looking to provide pension schemes with the tools used to counter an increase in criminal acts following the introduction of pension freedoms.
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NewsPLSA launches new RI standards at first ever ESG conference
The Pensions and Lifetime Savings Association is consulting on a new set of standards designed to help pension savers identify whether their schemes are meeting the highest standards for incorporating environmental, social and governance factors.
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NewsLadbrokes Pension Plan agrees £420m buyout with Rothesay Life
On the go: The Ladbrokes Pension Plan has agreed a full buyout worth £420m with Rothesay Life, the scheme confirmed to Pensions Expert’s sister publication MandateWire.