All Defined contribution articles – Page 56
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News
Pension contributions bounce back following first lockdown
On the go: Employee contributions to defined contribution schemes jumped by 12 per cent after parts of the economy were restarted following the UK’s first lockdown, new data has revealed.
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OpinionSystemic issues won't be addressed until regulator thinks systemically
The Pensions Regulator’s recently launched consultation on a new consolidated code of practice asks trustees to “identify and account for the systemic risk of climate change in decisions made about the scheme’s investment and funding”.
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Women have up to 45% less income at retirement than men
On the go: Women have 25 to 45 per cent less in their pension pots at retirement than men, according to new research.
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Pension schemes urged to raise alarm over scams
On the go: Pension schemes are being urged to raise the alarm over scams following a concerning long-term drop in reporting.
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Smart Pension invests in private market illiquids
On the go: The £1.5bn Smart Pension master trust has introduced private market illiquids into its default fund after developing a solution in partnership with Natixis Investment Managers.
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Govt proposes new rules for companies’ climate disclosures
On the go: The government is consulting on new rules to mandate climate-related financial disclosures by companies, which will aid pension schemes’ compliance on environmental, social and governance factors.
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NewsGovernment calls for greater emphasis on social factors
The government has called for a greater emphasis on the social element of pension schemes' environmental, social and governance strategies, as there is a concern trustees are ill-equipped to deal with these factors.
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News
Industry bodies launch small pots working group
On the go: The small pension pots working group had its first meeting on Wednesday, with a team of experts appointed to propose solutions to the current issues caused to auto-enrolment savers and schemes.
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PensionBee plans London stock exchange float
On the go: Pension consolidator PensionBee is considering floating on the London Stock Exchange, which it says will allow it to invest in future growth.
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OpinionThe future is… consolidation?
Consolidation in the defined contribution market is booming, with master trusts sweeping smaller schemes, but questions remain about who will be the winners, writes PTL’s managing director Richard Butcher.
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TPR: 'Greater need’ for schemes to reconcile data due to Covid-19
On the go: Due to the current pandemic, there is a “greater need” for accurate data reconciliation, according to Louise Sivyer, policy principal at the Pension Regulator’s regulatory policy directorate.
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News
Suspect in £13.7m pension fraud extradited to UK
On the go: An individual has been extradited from Spain in connection with a £13.7m pension fraud in a criminal case being brought by the Pensions Regulator.
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DWP consults on removing charge cap DC investment barrier
On the go: The Department for Work and Pensions on Friday opened a consultation into whether the charge cap acts as a barrier to defined contribution scheme investments in a range of alternatives, such as venture capital, illiquids and growth assets.
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NewsPensions dashboards’ 2023 target ‘under threat’
The target date of 2023 for the introduction of the pensions dashboards is under threat from a lack of clarity in several key areas, the Society of Pension Professionals has warned.
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PodcastsPodcast: Uber decision poses challenges for master trust sector
Podcast: For master trusts, onboarding gig economy workers who could be entitled to a pension following the Supreme Court’s Uber verdict is not as simple as it may sound. Hymans Robertson’s Patrick Bloomfield, partner, and senior DC investment consultant Victoria Panormo unpack the problem, in an episode also covering the Pensions Regulator’s draft criminal powers policy, and the Department for Work and Pensions’ climate risk consultation.
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News
£10,000 auto-enrolment threshold ‘should be removed’
On the go: The £10,000 threshold below which people do not qualify for auto-enrolment should be removed to help underserved groups, like women and the self-employed, build up pension wealth, a Trades Union Congress pensions conference heard on Tuesday.
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News
Uber drivers given pensions after court ruling
On the go: Uber drivers will be auto-enrolled into a pension scheme after a Supreme Court judge ruled that its drivers should be classed as ‘workers’.
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News
LCP finds stark variation in investment pathways charges
On the go: Pension savers who choose to continue investing into retirement via a drawdown product face a sharp variation in the lower and upper ends of charges on investment pathways funds, according to research by consultancy LCP.
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News
One in three managers use their influence on voting rights
On the go: Only a third of asset managers are able to provide details of how they have used their influence in voting as investors, according to new research.
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OpinionHow scheme trustees can make implementation statements matter
Since October 2020, occupational pension schemes have been required to produce a publicly available implementation statement as part of their annual report and accounts process.