All Defined contribution articles – Page 67
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News
Opperman: Charge cap has room for illiquid investments
On the go: The pensions minister has suggested that defined contribution schemes currently have room to invest in illiquids within the charge cap.
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Calls to improve pension funds’ small and mid-cap tax incentives
On the go: More than two-thirds of investors would like to see greater tax incentives for pension funds and insurance companies to invest in small- and mid-cap companies, according to research by UK investment banking specialist Peel Hunt.
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OpinionLifetime allowance freeze reopens debate on its relevance
Broadstone technical director David Brooks analyses the pension announcements made by chancellor Rishi Sunak in the Budget, and questions what is the purpose of the lifetime allowance.
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Government proceeds with new general levy structure
On the go: The Department for Work and Pensions has confirmed that a new general levy structure, with four different rates, will come into force in April 2021.
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TPR: Master trusts have ‘work to do’ on investment knowledge
On the go: Master trusts still have “work to do” to improve their trustees’ investment knowledge, according to Geoff Cheetham, principal investment consultant at the Pensions Regulator.
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PodcastsPodcast: Budget 2021 - ‘Reckless conservatism’ in DB landscape
Podcast: Wednesday’s budget did not go far enough to counter the “reckless conservatism” in the defined benefit landscape when it comes to risk and growth assets, hampering the government’s drive to unleash pensions on the post-pandemic recovery, according to Conservative party peer baroness Ros Altmann. She is joined by Isio partner Mike Smedley, in a discussion that also includes the lifetime allowance freeze and what was missing from the chancellor’s statement.
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Budget 2021: Lifetime allowance frozen until 2026
On the go: The pensions lifetime allowance will be frozen at just more than £1m until April 2026, chancellor Rishi Sunak announced on Wednesday.
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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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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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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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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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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
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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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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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
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.