All Defined contribution articles – Page 80
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NewsTPR paves way for three-month DB contribution holiday
The Pensions Regulator has launched new guidance aimed at helping employers freeze their defined benefit obligations for three months in response to the economic fallout from coronavirus.
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TPR relaxes AE enforcement action in response to Covid-19
On the go: The Pensions Regulator is giving employers more time to pay contributions without triggering any enforcement action, in a move to reduce the burden on businesses during the Covid-19 crisis.
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Covid-19: Disruption for DC schemes; social impact woes
While defined contribution trustees are being warned they could be facing more disruption than just investment volatility, institutional investors are calling on companies to mitigate the coronavirus social impact. At the same time, risks of cybersecurity and fraud are on the rise. Read our round-up of pensions and finance news about the coronavirus outbreak.
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Questions remain about AE contributions in govt scheme
On the go: Government's announcement that it will cover employer auto-enrolment pension contributions for furloughed workers still leaves many questions unanswered, such as how it will operate for defined benefit schemes, an expert warned.
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PASA to tackle cyber crime and fraud with new working group
On the go: The Pensions Administration Standards Association has created a cyber crime and fraud working group, aimed at creating standards to better protect pension schemes and their members.
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Diversification helps Nest mitigate FTSE slump
On the go: Diversification in Nest’s default funds seems to be paying off, as the government-backed workplace pension scheme has seen a decrease of 17.6 per cent since the beginning of this year, while the FTSE 100 has fallen by 34.3 per cent.
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HSBC ahead of curve with TCFD compliance
As the government seeks powers to mandate pension schemes to disclose their climate change risks, the HSBC Bank (UK) Pension Scheme is already on its second report under the Task Force on Climate-related Financial Disclosures.
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Could AE contributions be paused amid Covid-19 crisis?
Halting companies’ mandatory pension contributions could form part of government remedies to support businesses during the Covid-19 pandemic, pension specialists have argued, since protecting jobs is as important as saving for retirement.
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L&G to launch fossil fuel free fund
On the go: PensionBee will offer Legal & General’s first fossil fuel-free fund, in response to demand from consumers to exclude oil from their pension investments.
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Tax changes pose admin challenge for pension schemes
On the go: Pension specialists have welcomed the announced changes in pensions tax relief in this week’s Budget, but have pointed out that it brings an added administration challenge to schemes.
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Charge cap could be a barrier to CDC, experts fear
A collective defined contribution pension scheme for Royal Mail employees is inching closer to the starting gate, but an amendment to the pension schemes bill to impose a charge cap could derail other nascent CDCs from ever getting off the ground, according to experts.
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TPR alerts trustees for contingency planning amid Covid-19 fears
On the go: The Pensions Regulator has reminded trustees of the need for appropriate monitoring and contingency planning to be able to continue to run their schemes amid a coronavirus outbreak.
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Opperman to legislate for DC consolidation
On the go: The minister for pensions and financial inclusion has unveiled plans to force the consolidation of subscale defined contribution arrangements.
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Chancellor launches probe into net pay anomaly
On the go: The government is launching a consultation to address an anomaly in the pensions tax relief system that sees low earners missing out on a 20 per cent boost on their pension contributions.
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Maps refuses to give public dashboard launch date
On the go: The chair of the Money and Pensions Service has declined to give a launch date for the public pensions dashboard, since there are too many variables to be considered at this time.
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OpinionAuto-enrolment can help solve care crisis
Auto-enrolment can play a decisive part in helping individuals save for later-life care, explains Penny Cogher, partner at Irwin Mitchell.
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Aon’s merger with Willis Towers Watson to create $80bn giant
Aon and Willis Towers Watson have agreed on a merger, which will see the companies creating the UK’s largest pensions consulting firm and a worldwide insurance broker worth $80bn (£61bn).
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MPs question TPR’s action on Norton pension schemes
On the go: The chair of the Work and Pensions select committee, Labour MP Stephen Timms, has written to the Pensions Regulator questioning its action over the case of Norton Motorcycles and the three pension schemes invested in the company.
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Smart Pension to take on Welplan Pensions Master Trust
On the go: Welplan Pensions Master Trust is consolidating with Smart Pension, after a decision not to seek master trust authorisation.
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PodcastsPodcast: Webb - Budget must deliver for doctors
Podcast: Former pensions minister Steve Webb argued that “it would be astonishing” if the March 11 Budget does not bring a solution to the issues caused by the tapered annual allowance for doctors and senior clinicians. Sir Steve, now partner at Lane Clark & Peacock, and Lydia Fearn, head of defined contribution and financial well-being at Redington, discuss, among other topics, the possible changes for pensions to be introduced by the chancellor.