All Defined contribution articles – Page 73
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OpinionClosing the gender pensions gap: Lessons from Sweden
Despite the narrowing pay gap, the gender pensions gap is persistent. The main reason for this is differing working patterns between men and women – research by Now Pensions has found that only 40 per cent of mums between 18 and 45 years old work full-time.
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News
Fewer than a quarter of construction workers auto-enrolled
On the go: Fewer than a quarter (23 per cent) of blue-collar construction workers are participating in a workplace pension, according to new figures from the Department for Work and Pensions.
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News
Digital bank teams up with Smart Pension for auto-enrolment solution
On the go: Revolut and Smart Pension have teamed up to offer a retirement savings solution for the digital bank’s business customers.
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News
Now Pensions tax relief top-up claims double in a year
On the go: Workplace pension provider Now Pensions will be topping up pension pots of non-taxpayer members for the fourth year, after seeing claims double in 2017-18, when compared with the previous period.
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News
TPR’s debt recovery rate stalls despite record enforcement activity
On the go: Despite the Pensions Regulator enforcement activity reaching a record high, the recovery rate against recoverable debt remains at 30 per cent, new research has revealed.
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News
Latest housing association to exit multi-employer scheme
On the go: Housing association Metropolitan Thames Valley has left the Social Housing Pension Scheme, a multi-employer defined benefit plan run by TPT Retirement Solutions, transferring its assets and liabilities to master trust Enplan.
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News
Unilever proposes DB scheme closure to new members
On the go: Unilever is poised to close its defined benefit scheme to new members, in an attempt to reduce increasing costs and allow greater flexibility for employees.
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News
Maps’ life expectancy tool creates bias, research finds
On the go: A life expectancy calculator provided by the UK’s pension guidance service could be exacerbating people’s unconscious bias and influencing their financial decisions, new research has found.
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News
Schemes hit back at DWP’s levy ‘knee-jerk solutions’
Several pensions experts have criticised the government’s consultation on the general levy on pension schemes, arguing that the Department for Work and Pensions has proposed ‘knee-jerk solutions’ that are not fit for purpose.
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News
Pot-follows-member agreements: Feasible or fantasy?
Now Pensions wants to agree bilateral deals with other master trusts to consolidate small pots resulting from auto-enrolment, but experts say some hurdles remain.
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News
OECD: One in three workers risks falling through the pension cracks
Pensions provision has not caught up with the 21st century phenomenon of the non-standard worker, as this type of employment now accounts for one in three jobs in OECD countries, a new report has revealed.
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NewsAlmost 200 schools leaving Teachers’ Pension Scheme
More than one in 10 private schools participating in the Teachers’ Pension Scheme are leaving the pension fund, with the majority opting for a defined contribution arrangement to avoid a massive increase in contributions.
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News
SNP vows to end executive pay pensions gap
On the go: The Scottish National Party will support moves to ensure executive pension contributions are the same as for all workers.
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News
Darren Ryder steps down from TPR
On the go: The Pensions Regulator’s director of auto-enrolment, Darren Ryder, will leave his role next year to help other countries develop their own auto-enrolment programmes.
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Lloyds to cut chief executive pensions allowance
On the go: Lloyds Banking Group is planning to cut the pensions allowance of its chief executive by more than £220,000, while increasing contributions to its staff.
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News
PASA launches guidance for master trust consolidation
On the go: The Pensions Administration Standards Association has launched guidance for master trusts to follow when considering consolidation.
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News
The People’s Pension fee structure changes delayed
On the go: Changes to The People’s Pension charges structure have been delayed after a problem was encountered during testing.
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News
Nursery and director fined for failing to enrol staff
On the go: A children’s nursery and its director have been ordered to pay £8,200 by the Pensions Regulator for failing to enrol staff in a workplace pension and misleading the watchdog.
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NewsDalriada working with replaced trustee to recoup £14m
Professional trustees charged with rescuing three pension schemes that flouted investment rules say selling out of prohibited assets may thwart their efforts to recoup more than £14m owed to members.
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Regulator updates pension transfer guidance for trustees
On the go: Defined benefit trustees will need to contact financial advice firms to check if the adviser listed on members’ transfer documents is employed with them, new guidance from the Pensions Regulator stipulates.