All Defined contribution articles – Page 85
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OpinionPatient capital in DC: Worth the risk?
From the blog: Philip Hammond wants pension funds to invest in patient capital, and publishing a policy paper on the subject for the second Budget in a row, it appears his approach is rather, well, patient.
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News
Pension freedoms withdrawals reach record high
On the go: The Treasury’s pension freedoms tax bonanza continues, as record sums are being withdrawn.
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NewsThousands of Nationwide scheme members sign up to new portal
Nationwide Pension Fund has seen successful take-up of its new online pensions portal among members, as the scheme continues to put its faith in online communications and works on new developments for the portal.
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News
Pensions gender pay gap reaches 40 per cent
On the go: Women retire with pension incomes almost 40 per cent lower than men on average, according to new research, despite recent legal efforts to ensure equality in the state pension system.
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News
Default fund takes on a green hue at WTW master trust
On the go: Following demand from members, LifeSight, Willis Towers Watson’s defined contribution master trust, will allocate around half of the equity investments within its default fund into environmental, social and governance investment strategies by Q4 2018.
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News
More than half of small firms have switched AE provider
On the go: In a fluid market, more than half of small and medium-sized businesses have already switched their auto-enrolment provider. Most firms cited value for money or investment performance as the reason for the move.
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News
Pension savers overtaxed by 'staggering' £372.5m
On the go: The government faces growing pressure to review ‘emergency tax’ treatment of pension freedoms withdrawals, after it was revealed that a staggering £372.5m has now been reclaimed by pension savers since the freedoms were launched in April 2015.
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NewsHammond’s Budget looks to unlock DC savings for patient capital
The government is to consult next year on whether the charge cap for defined contribution default funds should be changed to unlock greater investment in patient capital, as part of a Budget with significant implications for DC savers.
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News
Changes to authorisation affecting some master trusts
Last-minute changes made to the master trust authorisation process by the Pensions Regulator have made it hard for a number of schemes to apply, a senior master trust figure has said.
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FeaturesJLT switch to TDF default sees boost in engagement
An overhaul of the default arrangement in the Jardine Lloyd Thompson Pension Scheme’s defined contribution section, switching from a lifestyle arrangement to target date funds, has brought its more engaged members back from their self-select funds.
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NewsFord set to offer partial transfers
Ford has agreed to offer members of its defined benefit scheme the right to partially transfer out half of their pension as cash at retirement, allowing former employees greater flexibility in their benefits.
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OpinionDB transfers: Is your pension fund at risk of paying out too much?
During 2018, the Pensions Regulator has written to dozens of defined benefit scheme trustees regarding transfers out of their scheme.
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News
Nest looks to online gaming for self-employed pensions
Master trust Nest is trialling incentive-based approaches, including methods used in online gaming and prize draws, with the aim of raising the rate of self-employed workers who save into a pension.
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News
Trustees and employers must focus on financial wellbeing, experts say
Poor financial wellbeing is costing UK businesses £1.6bn each year, recent research has shown, as experts call on companies and trustees to do more to support employees.
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OpinionBridging the gap
Editorial: Auto-enrolment has certainly succeeded so far in helping more people save for retirement. But there is still a lot more to be done.
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News
Government to legislate for CDC
The Work and Pensions Committee has published a letter from Guy Opperman, minister for pensions and financial inclusion, which indicates the government’s intention to lay primary and secondary legislation for collective defined contribution schemes.
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News
TRIG endorses new initiative for transfer framework
On the go: The cross-industry Transfers and Re-registration Industry Group has thrown its support behind an initiative aimed at raising governance standards over pension transfers.
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News
UK lost pension pots could be worth £20bn
On the go: An estimated 1.6m pension pots worth almost £20bn are lost and could remain unclaimed without government intervention, according to research conducted on behalf of the Association of British Insurers.
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News
Employers support pension tax relief reform
The majority of employers think that the existing pension tax structure is too complicated and needs simplifying, according to research by the Association of Consulting Actuaries.
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News
Master trust members unfazed by AE increases
Savers auto-enrolled into a pension scheme are not dropping out of their plan any faster when nudged toward saving more money each month, according to the Pensions and Lifetime Savings Association.