All Defined contribution articles – Page 83
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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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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
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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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
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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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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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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Features
More action needed to help self-employed women
Analysis: Reform should be pushed up the agenda to support self-employed women and reduce the biggest challenges of the gender gap, experts say.
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News
DC trustees eye master trusts for decumulation options
Data crunch: Trustee reluctance to offer in-house drawdown means single-employer defined contribution schemes may look to partner with a master trust to offer decumulation products to members, new analysis shows.
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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.
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Nursery director admits to avoiding paying pensions to staff
On the go: A pre-school nursery and its main director have pleaded guilty in court to attempting to avoid providing their staff with a workplace pension.
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Master trusts cut prices to reach new authorisation targets
On the go: Master trusts are cutting prices by as much as 20 per cent to build up new business following authorisation from the Pensions Regulator, a consultancy firm has flagged.
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News
One in four employees fails to review their pension
On the go: Employees’ lack of engagement with later-life finances remains a major issue, with one in four never even reviewing their pension. This lack of preparation is impacting lifestyle choices, with a quarter of employees now expecting to work in retirement.
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News
New govt urged to find solutions for self-employed
On the go: The Association of Independent Professionals and the Self-Employed has called on the new government to update the long-term savings environment to better provide for entrepreneurs.
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News
Will Generation X be the most vulnerable at retirement?
On the go: Thirteen million people born between 1966 and 1980, the so-called Generation X, will face acute problems as they come up to retirement in the next 12 to 28 years unless decisive action is taken, according to the Pensions Policy Institute.
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News
Authorisation sees master trust market shrink to 37 providers
On the go: A final total of 37 master trusts have received authorisation from the Pensions Regulator, with the FCA Pension Plan and Salvus Master Trust the last to get the go-ahead on Tuesday.
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Workers must save quarter of income for ‘moderate’ retirement lifestyle
On the go: UK savers need to save at least £800 a month to achieve the moderate living standard outlined by the Pensions and Lifetime Savings Association, research by the Institute and Faculty of Actuaries has found.
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FeaturesApp targeting self-employed aims to ‘democratise investment’
With fewer than a fifth of the UK’s self-employed population saving into a pension, one start-up has challenged traditional providers and savings solutions in a bid to address the issue.
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News
Master trusts welcome CDC in decumulation
Several master trusts would welcome the ability to offer a collective defined contribution solution for their members in decumulation, after the government hinted at such a possibility.