All Defined contribution articles – Page 51
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NewsTelecoms group appoints XPS as pensions adviser
On the go: The BT Group, which has both defined benefit and defined contribution plans including the £57.5bn BT Pension Scheme, has appointed XPS Pensions Group as pensions adviser.
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NewsDWP’s flat fee charging limit dubbed a ‘symbolic gesture’
The Department for Work and Pensions has confirmed that it will ban the charging of flat fees on qualifying workplace pension pots worth less than £100.
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NewsThree-quarters of pension savers need more professional advice
On the go: Three-quarters of savers lack the confidence to manage their own pensions and need professional advice, according to a survey from NerdWallet.
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NewsTisa calls for pension decumulation policy reform
On the go: The Investing and Saving Alliance is calling on regulators and the government to reform pension decumulation policy that will impact four main areas.
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NewsOpperman not rushing CDC, defends statements season
Pensions minister Guy Opperman has confirmed there will be no regulations on multi-employer collective defined contribution schemes before the end of next year, set out targets for Pension Wise uptake, and become embroiled in a spat with former pensions minister Sir Steve Webb over the effectiveness of the proposed “statements season”.
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NewsUUK tries to dispel valuation myths as UCU presses on with strike action
Universities UK, the group representing 340 Universities Superannuation Scheme employers, has argued that the rate increases facing USS members would not be alleviated by a new valuation, countering claims made by the University and College Union.
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NewsSupermarket pension schemes commit to net zero
On the go: The Tesco Plc Pension Scheme and the Tesco Retirement Savings Plan, which together have assets of more than £24bn, have pledged to reach net zero by no later than 2050.
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NewsUniversity of Dundee urged to agree pensions deal with striking staff
On the go: The Scottish government’s higher education minister has urged the University of Dundee to reach an agreement with staff striking over controversial plans to move low-paid workers to a defined contribution scheme.
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NewsCoffey: Pensions a ‘superpower’ to combat climate change
On the go: The full power of pensions needs to be used to reduce climate risk in savers’ portfolios and help push the UK towards achieving net zero in the future, work and pensions secretary Thérèse Coffey has urged.
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NewsLifeSight invests in climate fund, guide for stewardship launched
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including LifeSight’s investment in a climate transition fund, a stewardship reporting guide launched by consultants, and The People’s Pension’s climate pledge.
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NewsDWP proposes fraud compensation levy increase for all pension schemes
The Department for Work and Pensions is consulting on changes to the fraud compensation levy, which will see pension schemes pay more than double the current fee as pension scam claims rise.
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NewsSaul to create ‘feeder’ DC scheme for new members
The Superannuation Arrangement of the University of London is set to create a new “feeder” defined contribution pension scheme as it undertakes a review of its investment strategy.
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NewsBudget: Govt not expecting tax relief take-up and millions for McCloud
Pensions Expert’s roundup of the key figures from the Autumn Budget: the government assumes most people will not claim their net pay tax relief top-up, £10m has been set aside to help administer increasingly complex McCloud tax arrangements, and the Goodwin remedy could end up costing £3bn. However, savings have been made from the double lock and state pension overpayment revisions.
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NewsTPR to tighten supervision to steer schemes’ climate response
The Pensions Regulator is aiming to set “clear expectations” of what it wants to see from pension schemes, while increasing supervision ahead of the new requirements to comply with environmental, social and governance legislation under the Pension Schemes Act 2021.
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NewsSchemes enable more CO2 than entire UK carbon footprint
ESG spotlight:A roundup of the latest news on environmental, social and governance initiatives, including analysis showing the UK’s pensions market would be in the top 20 global carbon emitters if it was a country, and a study concluding that less than 1 per cent of fund assets are Paris-aligned.
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NewsBudget 2021: Government announces net pay tax relief top-up
Individuals making pension contributions to net pay schemes from 2024-25 will be eligible to claim a top-up, the government has confirmed, while a £71m investment has been earmarked for modernising pensions tax relief administration.
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NewsBudget 2021: Sunak announces further changes to DC charge cap
Chancellor of the exchequer Rishi Sunak announced on Wednesday that the government will consult “within the next month” on further changes to the charge cap intended to encourage more investment in illiquid assets by defined contribution schemes. But experts have said this is “missing the point”.
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NewsBudget 2021: Missed opportunity to tackle pensions ‘ticking time-bomb’
Following a Budget speech light on pensions policy announcements, the industry has been weighing in on what has been revealed, including a consultation on the charge cap and a new tax relief for low earners in net pay schemes, while others say that the chancellor has not done enough to address industry concerns.
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NewsUK must take lessons from abroad to successfully integrate CDC
On the go: The UK must look to the international experience of collectivised pension schemes and prioritise effective member communications, the Work and Pensions Committee has heard.
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NewsFCA pushes ahead with new illiquids fund for DC schemes
Pension funds will have access to a Long-Term Asset Fund regime following changes made by the Financial Conduct Authority, with special flexibility afforded to defined contribution schemes to invest in illiquid assets.