All Defined contribution articles – Page 61
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News
Budget 2021: Govt announces investment pension rules reform
On the go: The government will be launching a consultation aimed at supporting the UK economy with pension assets post-Covid, the chancellor announced on Wednesday
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NewsImmediate choice a ‘no-brainer’ for judges’ McCloud remedy
The unique position of judges and their non-standard Judicial Pension Scheme means that opting for the “immediate choice” solution to McCloud is a “no-brainer”, experts have said, despite the rest of the public sector taking a different course.
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News
Dashboards preparation should begin immediately
On the go: New guidance from the Pensions Administration and Standards Association encourages all schemes to begin preparing for the introduction of the dashboards straight away, after the passage of the Pension Schemes Act set a series of events in motion.
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OpinionWhy purpose, personalisation and pace must shape modern pensions
PA Consulting pensions expert Mike Teall details the steps needed to bring pensions into the 21st century, with the pensions dashboard being the catalyser for change.
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News
One-year contribution holidays could spur economic recovery
On the go: Conservative peer Baroness Ros Altmann has recommended that the chancellor, Rishi Sunak, announces a year-long contribution freeze for defined benefit scheme sponsors to boost business recovery.
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NewsTPR criticised for year-long delay in collection of ESG statements
A Conservative peer and former pensions minister has hit out at delays in the Pensions Regulator’s efforts to police the content of pension schemes’ statements of investment principles.
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News
Chancellor ponders lifetime allowance 'stealth tax'
On the go: Chancellor Rishi Sunak was reportedly planning to freeze the lifetime allowance for the rest of the current parliament, according to a report in the Times — a move that could see public sector workers hit hard.
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News
Govt maintains current AE tests for DB and hybrid schemes
On the go: The Department for Work and Pensions has concluded that the current tests used by defined benefit and hybrid schemes for auto-enrolment suitability are fit for purpose.
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NewsCan UK councils rent their own streets to fund pensions?
Several US public schemes have embraced unusual means of securing funding, including renting property to themselves. Although these tactics cannot be used across the Atlantic, the post-Covid landscape could see a variety of new strategies being deployed in the UK.
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News
MPs to examine savers’ options when accessing pensions
On the go: The Work and Pensions Committee will examine the options available to savers when they come to access their pensions, which is the second part of its inquiry into pension freedoms.
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News
Uber ruling may not solve gig worker pensions issue
On the go: The Supreme Court may have opened the door to workplace pension schemes for gig workers by ruling that Uber drivers are workers — but former pensions minister Sir Steve Webb warned the issue may not yet be resolved.
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News
Calls for DWP to change chair’s statement rules
On the go: The Department for Work and Pensions is to publish a review of the effectiveness of defined contribution chair’s statements in April, which has prompted some specialists to call for a major rethink.
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PodcastsPodcast: Timms calls for pension transfer rules change
Podcast: The current law governing transfers is not fit for purpose and there are too many bodies involved in handling pension scams, according to Work and Pensions Committee chair Stephen Timms.
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OpinionMaking your pension scheme investments count
While considering that pension schemes are not philanthropists, Impact Investing Institute chief executive Sarah Gordon believes pension funds should invest in businesses that deliver positive impact, as these are more likely to produce genuinely sustainable profit streams.
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NewsFinancial wellness: DC sponsors want more from their providers
Data crunch: Sponsors and fiduciaries of UK defined contribution schemes want their providers to offer more than a core pension product.
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News
Schemes should not ‘mindlessly chase’ illiquidity premium
On the go: The chief investment officer of the £19bn Local Pensions Partnership has criticised asset managers promising unrealistic returns from illiquid assets, arguing that they no longer provide the same premium they once did.
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News
TPR pledges guidance after royal assent for Pension Schemes Act
On the go: The Pensions Regulator welcomed the Pension Schemes Act receiving royal assent on Thursday, with chief executive Charles Counsell looking forward to the “strong package of measures” it provides and pledging guidance for how they will be used.
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NewsNormal minimum pension age set to increase to 57 in 2028
HM Treasury outlined plans on Thursday confirming the government’s intention to raise the normal minimum pension age from 55 to 57 in April 2028, while devising a “protection regime” that ensures some scheme members retain their current rights.
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News
Half of schemes planning to move members into master trusts
On the go: The trend of transferring members of defined contribution schemes to master trusts is expected to continue in 2021, with 50 per cent of employers or trustees planning such moves, or at least signpost these schemes as a retirement option for their members.
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News
USS extends Capita administration contract
On the go: Capita Pensions has been awarded a five-year contract extension by the Universities Superannuation Scheme to deliver pension system and administration support.