All Defined contribution articles – Page 60
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PodcastsPodcast: Economic uncertainty, DC consolidation, ESG to mark 2021
Podcast: Economic uncertainty from the pandemic and the aftereffects of Brexit, solving the small pots problem and consolidation in the defined contribution universe, and yet more environmental, social and governance regulation are the themes to watch out for this year. These are the predictions for the pensions industry in 2021 from Marc Hommel, senior pensions adviser at EY-Parthenon, and Sue Pemberton, head of technology and DC consulting at Premier Pensions.
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News
Industry needs to do more to combat scams, TPR says
While the Pensions Regulator has pointed the finger at industry saying all parties must do more to tackle the problem of pension scams, members of the Work and Pensions Committee have questioned whether the regulator has itself done enough to help.
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News
Now Pensions members’ data leaked by service partner
On the go: Master trust Now Pensions has confirmed that some of its members have had their personal data shared online by a service partner.
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OpinionValue for money: Is 60:40 really good enough for Generation DC?
Pensions regulators rightly stress the primacy of value for money and good governance in defined contribution pensions. New proposals advocate that DC fiduciaries should adopt a uniform framework for analysing VFM based on three elements: charges and transaction costs, customer service, and investment performance.
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News
Small pots report recommends member exchange trials
The pensions industry should begin work to facilitate mass exchanges of sub-scale defined contribution accounts, according to a government-commissioned working group looking to address the problem of small pots.
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News
Schemes call for extension of regulatory easements
On the go: The majority of pension schemes have said that Covid-19 is not having a detrimental effect on their day-to-day operations, but have called for an extension of regulatory easements, according to new research.
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NewsDB schemes to face 120% rise in general levy with new govt proposals
Defined benefit schemes face a 120 per cent general levy increase by 2024 proposed in a new consultation launched on Wednesday, while master trusts will be granted a different rate.
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News
Govt floats new general levy for master trusts but mulls 100% hikes
On the go: A government consultation has warned that the general levy on schemes used to fund the Pensions Regulator will need to rise steadily to reverse a widening deficit, but floated a fairer methodology for master trusts.
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OpinionStrength in numbers: How to keep scheme members engaged with ESG
Investing responsibly, and the need for investors to consider how a company behaves in environmental and societal terms, has been propelled into the limelight in recent years.
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NewsSchemes to decide on dashboard data verification levels
Pension schemes and providers will be able to set up their own standards for individual data verification, which could lead to missing information on dashboards if pension funds opt for a risk-averse position.
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News
BBC Pension Scheme agrees £3bn longevity swap
On the go: The BBC Pension Scheme has completed a longevity swap with Zurich and Canada Life Reinsurance covering more than £3bn of pensioner liabilities.
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NewsMore work needed to make ESG meaningful
Scarcely a week passes without an announcement of a new environmental, social and governance-oriented venture. But experts warn more needs to be done if onlookers are to be confident that words have meaning.
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News
Nest converts EM to climate-aware and doubles allocation
On the go: Master trust Nest is to double its allocation to emerging market equities across its retirement date funds, while adding a climate-aware tilt to the strategy.
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News
Employers give cautious backing to Nest's sidecar project
On the go: Businesses trialling Nest Insight’s sidecar savings project say it can provide a boost to financial wellbeing, but caution that questions of inertia and affordability need to be overcome.
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News
OECD: Pension systems facing increased challenges after Covid-19
On the go: The pandemic-led economic crisis has compounded the challenges faced by pension systems in different countries, while also bringing new problems for governments to deal with, a new report has found.
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NewsWeekly roundup: It’s not easy being Green
Welcome to Pensions Expert’s roundup of a week in which we bade farewell to a few of the high street’s better-known names, and the Pension Protection Fund brightened everyone’s mood with its new doomsday scenario.
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News
Alternative strategies could wipe out UK’s £190bn DB deficit
On the go: Alternative approaches to scheme funding and investments could eliminate the UK’s current £190bn defined benefit pension deficit, according to new analysis by PwC.
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FeaturesRaging torrent of DB equity outflows decelerates in 2020
Data crunch: Equity derisking in UK private defined benefit pensions has been pervasive since the financial crisis of 2008-09.
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News
Simplifying language can increase pensions engagement
On the go: Almost half of savers do not know they can choose how much money they pay into their pensions, while a third misunderstand the purpose of auto-enrolment minimum caps, a new report has revealed.
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News
Phoenix launches new ESG default solution
On the go: The UK’s largest long-term savings and retirement business has announced the launch of a new defined contribution default solution incorporating environmental, social and governance standards.