All Defined contribution articles – Page 81
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News
USS DC section to begin exploring alternative assets
On the go: The Universities Superannuation Scheme is to begin adding alternative assets to its default defined contribution portfolio, the £68bn pension giant announced on Wednesday.
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News
Pension schemes bill to cost industry £818m in first year
The pensions industry faces an annual cost increase of £818m as a result of changes brought in by the pension schemes bill, with the new defined benefit funding regime and the pensions dashboard requiring the lion’s share of this investment.
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News
AA considers DB scheme closure
On the go: The AA is considering closing the last section of its defined benefit scheme still open to future accrual, with 2,800 employees expected to be transferred to one of its defined contribution plans.
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PodcastsPodcast: Vegan case flags importance of heeding members
Podcast: Trustees and employers should consult members on their beliefs, and incorporate the investment views of the majority in their pension default fund, according to Romi Savova, chief executive at PensionBee, and David Brooks, technical director at Broadstone. The experts discuss the impacts of a landmark ruling finding that veganism is a philosophical belief, alongside other topics, in this week’s podcast.
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News
New rules for pension transfers to cost industry £1m
On the go: New rules to prevent scams are expected to cost the industry and employers about £1m in their first year and impact more than 160,000 pension transfers.
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Features
E-admin hopes dashed by data quality
Data crunch: Pensions administrators and open finance enthusiasts may have one eye on the ‘e-admin’ future of full dashboard compliance, modelling and targeted engagement, but a survey of trustees reveals the perennial roadblock – poor-quality member data.
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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
Landmark vegan case could disrupt pensions industry
A landmark ruling finding that veganism is a philosophical belief will have a wider impact in the pensions industry, experts say, but warn trustees to avoid making knee-jerk changes to their schemes.
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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 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
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
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
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
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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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
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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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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OpinionAll 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 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.