All Defined contribution articles – Page 53
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NewsPension transfers initiative to launch accreditation system
On the go: The pension transfers initiative ‘Star’ will be launching an accreditation system, with providers receiving a gold, silver or bronze ranking according to their performance.
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NewsRegulators propose DC-wide ‘value for money’ framework
The Pensions Regulator and the Financial Conduct Authority will be forcing defined contribution schemes to disclose more data around their investment performance, scheme oversight, and costs and charges, as they unveil a discussion paper looking at creating an “holistic framework” for assessing value for money in this sector.
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OpinionPension Awareness Week: It’s time to wake up the ‘sleepwalkers’
As Pension Awareness Week unfolds, The Investing and Saving Alliance’s head of retirement, Renny Biggins, warns that schemes need to increase engagement with their members as delays to auto-enrolment changes are to be expected.
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NewsStatements season could cause mayhem for admins, PASA warns
On the go: The creation of a statements season could cause “significant difficulties, additional and unnecessary costs, and adverse implications” for schemes and administrators if a route of a common valuation date is chosen, the Pensions Administration Standards Association has warned.
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NewsInflation jump poses ‘a real challenge’ for pension schemes
The surge in inflation in August – the highest since records began in 1997 – could prove “a real challenge” for pension schemes, experts have warned, especially if it proves not to be a transitory phenomenon.
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NewsPension Awareness Day: Savers still in the dark amid Covid-19 downfall
A roundup of the news marking the 2021 Pension Awareness Day, with £5.3bn lost from over-fifties pension pots during the pandemic, retirement security in the UK declining for the fourth consecutive year, and a new guide launched to help employers and schemes to support members’ financial wellbeing.
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NewsABI calls for govt to 'rethink' normal minimum pension age hike
The Association of British Insurers has called on the government to scrap its “complicated”, “arbitrary” and “confusing” plans to raise the normal minimum pension age “until something fit for purpose” has been developed.
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NewsCalls for climate reporting harmony as FCA and DWP rules diverge
The Financial Conduct Authority’s climate-related disclosure rules for asset managers, life insurers and its regulated pension providers should be brought into line with Department for Work and Pensions regulations to give greater clarity and consistency, the Pensions and Lifetime Savings Association has said.
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NewsNumber of workers delaying retirement due to Covid-19 rises
On the go: The number of workers making changes to their retirement plans due to the impact of Covid-19 has increased by more than a quarter to 29 per cent, research from Fidelity International has shown.
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OpinionThe future of DC schemes: Go big and go green
Independent Trustee Services client director Dianne Day details the drivers behind consolidation in the defined contribution market, and the role environmental, social and governance investing is playing in this area.
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NewsNational Pension Tracing Day set to launch with industry backing
On the go: Punter Southall Aspire is launching the UK’s first National Pension Tracing Day on October 31 when the clocks go back, and is urging people to use their extra hour to trace lost pensions.
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NewsPMI launches new diploma for pension professionals
On the go: The Pensions Management Institute is launching a new diploma in pension trusteeship.
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NewsTPR auto-enrolment enforcement figures back to pre-pandemic levels
On the go: The number of warnings issued to employers for failing to comply with auto-enrolment rules are back to pre-pandemic levels, the Pensions Regulator has said.
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NewsAuto-enrolment at risk after national insurance increase
On the go: The implementation of the auto-enrolment reform could be at risk after the government announced a national insurance hike, Aegon has warned.
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NewsBig schemes turn to fiduciary managers during pandemic
Data crunch: The average size of a pension scheme taking on a fiduciary manager rose by around 80 per cent during the Covid-19 pandemic, suggesting the flexibility afforded by the model was particularly attractive in turbulent market conditions, according to research from IC Select.
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NewsPublic sector schemes wary of TPR’s new code of practice
Public sector schemes should press on with implementing the Pensions Regulator’s new code of practice, Aon has said. However, schemes are concerned about the new rules and have asked for more clarity from the watchdog.
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FeaturesGuidance ‘stronger nudge’ could lead to poor member experience
The proposed rules requiring trustees and scheme managers to “nudge” individuals to obtain guidance when accessing their pension will cause administration mayhem and could lead to poor member experience, industry experts have warned.
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NewsDashboards programme appoints central digital architecture supplier
On the go: The Pensions Dashboards Programme has appointed Capgemini as the supplier of the project’s central technical architecture.
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PodcastsPodcast: Industry ‘irritation’ with TPR’s code of practice could have been avoided
Podcast: The negative reaction of the industry to the Pensions Regulator’s new code of practice shows what can happen if consultations are handled poorly, says Tim Middleton, director of policy and external affairs at the Pensions Management Institute. He is joined by Steven Taylor, partner at LCP, to discuss consultations, collective defined contribution schemes, and flexibility within the defined benefit universe.
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NewsIndustry fears another missed dashboards deadline
On the go: The pensions industry doubts whether the pensions dashboards will be delivered on time, as more than three-quarters of respondents to a Pensions Management Institute survey said they thought the project would still not be operational by 2023.