All Defined contribution articles – Page 75
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News
Accountant ordered to pay £5k for misleading pensions regulator
On the go: A former accountant has been ordered to pay £4,987 for providing false or misleading information to the Pensions Regulator over workplace pensions duties.
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News
Private school teachers threaten strikes over pensions
On the go: Teachers in private schools are threatening to strike, as a massive increase in contributions is leading to many of these institutions leaving the Teachers’ Pension Scheme.
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News
Nest eyes move into infra equity
On the go: Master trust Nest is inviting tenders from managers of infrastructure equity assets, as the provider continues to add to its portfolio of alternatives.
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News
Majority of employers planning to review pensions provider in 2020
On the go: Eighty-seven per cent of employers are looking to review their pension provider in the next 12 months, according to new research from investment platform Smarterly.
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News
Nest Invest gets green light from FCA
On the go: Nest Invest, the investment subsidiary created by the master trust alongside its move into private credit, has been authorised by the Financial Conduct Authority.
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News
Govt urged to scrap tax relief on minimum AE contributions
On the go: Former pensions minister Baroness Ros Altmann suggested the government could make the legal minimum auto-enrolment contributions compulsory and remove tax relief from this amount.
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News
Pensions dashboards unlikely to go live this year
On the go:Despite pensions dashboards having both industry-wide and government backing, it is unlikely that the technology will be delivered “any time soon”, Sir Steve Webb warned.
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News
Scandal-ridden Equitable Life finally wound up
On the go: Equitable Life has finally passed into oblivion, closing its doors to a dwindling band of existing policyholders and falling into the hands of Utmost, a private equity firm that mops up old life companies.
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Features
Authorised master trusts look ahead to supervision
The newly authorised master trust sector is bracing itself for a further increase in regulatory scrutiny as the supervision regime takes hold, since one-to-one supervision and annual statement requirements could amount to something approaching a “mini-authorisation” once a year.
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News
Admins reveal collapse in retiree savings levels
On the go: UK retirees are leaving the workforce with lower levels of savings than previous generations, as the decline of defined benefit opens a gap in the nation’s retirement preparations.
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News
Providers divided on mandatory simpler annual statements
Workplace providers such as Smart Pension and PensionBee are supporting the government’s intention to introduce a standardised annual statement, with calls for legislation if take-up from schemes does not increase.
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News
Opperman promises ‘refined’ Pension Schemes Bill
On the go: The Pension Schemes Bill has been included in the Queen’s Speech delivered on Thursday, with pensions minister Guy Opperman stating it will be a refined version from the previous document.
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Opinion
All change for pensions in 2020?
Some surprises are less surprising in retrospect, and December’s general election was one of those events.
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News
Opperman reappointed pensions minister
On the go: Guy Opperman remains as minister for pensions and financial inclusion after being reappointed as MP for Hexham.
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News
Recruitment agency fined for avoiding AE duties
On the go: A recruitment agency and its managing director have been ordered to pay £10,890 for avoiding their auto-enrolment duties and misleading the Pensions Regulator by falsely claiming staff had been put into a workplace pension.
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News
Nest considers 1.5C target for climate change fund
Data crunch: The government-backed workplace provider Nest is testing ways to adopt a 1.5C goal for its Climate Aware Fund, to better reflect the “quickly evolving nature of climate change risk” and its impact on members’ investments.
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News
IGCs face ‘huge challenges’ with extended oversight remits
The new rules coming into force for independent governance committees – taking oversight of the provider’s policy on environmental, social and governance factors, and guaranteeing the value for money of new investment pathway solutions – have been branded a “huge challenge” by industry experts.
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News
TPR approves HSBC master trust
On the go: The HSBC Master Trust has become the first new scheme to be authorised by the Pensions Regulator, bringing the total number of authorised schemes to 38.
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Opinion
Collective defined contribution schemes: Smooth operators?
Barnett Waddingham’s Esther Hawley looks at the differences between collective defined contribution schemes and individual DC strategies, and how workplace pension funds can mirror the new concepts being developed to improve the UK’s retirement outcomes.
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News
Top civil servants with pensions worth more than £1m
On the go: The UK’s permanent secretaries – 23 individuals who head up government departments – had an average defined benefit pension worth £1.1m in 2018-19, according to new research from the TaxPayers’ Alliance.