All Defined contribution articles – Page 65
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NewsMaster trust competition hots up despite consolidation
Data crunch: The majority of master trusts are targeting defined contribution schemes in a bid to boost their assets under management, leading to heightened competition in a marketplace where there is scepticism about acquiring rivals.
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TPR urges DC schemes to pay more attention to climate change
On the go: The Pensions Regulator has warned the defined contribution market must pay more attention to both the risks and opportunities of climate change in investment strategies.
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Smart Pension pledges to reach carbon zero before 2050
On the go: Smart Pension has committed to developing its investment approach to reach net-zero carbon emissions “well ahead” of the 2050 deadline.
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Guide launched to assess investment consultants’ climate competence
On the go: The Investment Consultants Sustainability Working Group has launched a guide to help trustees in assessing their investment consultants on climate competency.
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NewsPIPAs on hunt for Covid-defying performances
Pensions Expert’s annual awards are open for entries, with judges imploring providers that have not hid behind Covid excuses and managers that have truly set themselves apart on sustainability to come forward for consideration.
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NewsDWP proceeds with ‘revolutionary’ climate change agenda
The Department for Work and Pensions has proposed broadening the scope of climate risk analysis to cover not just the environmental impact of pension schemes’ portfolios, but also sponsor covenants and actuarial valuations.
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Savers lose £78m to ‘clone firm’ investment scams in 2020
On the go: Fraudsters pretending to be legitimate companies stole £78m from unsuspecting victims through pension and investment scams in 2020, according to Action Fraud.
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Call for ‘living pension’ to boost contribution levels
On the go: A living pension standard is needed to encourage employers to raise contribution rates and help workers enjoy a decent standard of living in retirement, a think-tank has suggested.
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Clarity on dashboards, but delays taint Pension Schemes Act
The government fought off opposition amendments to the Pension Schemes Act in the House of Lords on Tuesday, keeping its dashboards options open — but experts have warned that many of the act’s more substantive changes could be delayed until 2022.
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PodcastsPodcast: New powers in Pension Schemes Act could cause bankruptcies
Podcast: New criminal provisions in the Pension Schemes Act are so broadly drafted that they could strangle legitimate business activity, potentially resulting in unnecessary bankruptcies. So says Arc Pensions Law partner Jane Kola, who, along with Society of Pension Professionals president James Riley, warn about the potentially dire consequences and call for more clarity from the regulator. More cheerfully, this inauguration day episode also covers the future of actuaries, small pots, and Donald Trump’s pension.
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OpinionSmall schemes lagging larger peers on cost transparency
Data crunch: The release last week of the government’s response to the ‘Review of the default fund charge cap and standardised cost disclosure’ has resulted in me being repeatedly asked for my thoughts on the conclusions.
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Aegon commits to have DC default funds carbon zero by 2050
On the go: Aegon intends to achieve net-zero carbon emissions across its defined contribution default pension fund ranges by 2050, in response to the threat posed by climate change.
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NewsDWP to ban flat fees for small pots
The Department for Work and Pensions is to ban the charging of flat fees on pension pots under £100 in an attempt to stop their erosion by charges and administration costs.
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Pension contributions plunge 11% as Covid crisis hits
On the go: Savers paid 11 per cent less into their defined contribution pension schemes as the coronavirus pandemic hit the UK, Office for National Statistics data shows.
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Govt moves to include pensions in dormant assets scheme
On the go: Pensions will be included in the government’s extension of the dormant assets scheme, despite previous concerns that life savings should be excluded due to “significant changes” in recent years.
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Nest to boost private market holdings by 6%
On the go: Nest is to expand its private market holdings from 9 per cent to 15 per cent by March next year, with its investments in illiquids and infrastructure assets expected to exceed a fifth of its £13bn portfolio.
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Barclays integrates ESG into £1.3bn sustainable growth fund
On the go: The Barclays Bank UK Retirement Fund has announced the integration of environmental, social and governance factors, as well as climate risk, into its diversified Multi-asset Growth Fund.
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L&G launches service to track lost pension pots
On the go: Legal & General has introduced a service to help people track down lost or forgotten pension pots, as well as consolidate them.
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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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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.