All Defined contribution articles – Page 91
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News
JP Morgan takes minority equity stake in Smart Pension
On the go: JP Morgan, the American multinational investment bank and financial services company, has taken a minority equity stake in UK mastertrust Smart Pension.
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News
TPR confirms Now Pensions admin crisis largely over
On the go: The Pensions Regulator has confirmed today that Now Pensions has overhauled its administration system.
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News
Regulator reveals 45 per cent rise in dormant pots over 2018
The Pensions Regulator has uncovered a massive rise in the number of dormant defined contribution pots resulting from the introduction of auto-enrolment.
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News
Pension provider calls for legal duty to be placed on dashboard operators
An auto-enrolment pension provider is calling on the government for a legal duty to be placed on pensions dashboard operators to put consumer interests first, as a new report warns they could be put at risk without it.
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NewsFCA investment pathway proposals welcomed, but concerns remain
The Financial Conduct Authority’s recent proposals on investment pathways have been widely welcomed, but questions remain over the suitability of ready-made drawdown solutions.
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OpinionTPR: 2019 must see member security improve
The Pensions Regulator’s Fiona Frobisher reminds us of the regulatory developments scheduled to improve pensions in 2019, and ramps up the pressure on poorly run small schemes to consider the emerging regulated consolidation market.
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News
FCA proposes rules on investment pathways
On the go: The Financial Conduct Authority has set out its second proposed package of remedies from its Retirement Outcomes Review, in a consultation on investment pathways, ensuring investment in cash is an active decision, and actual charges information.
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News
Pension freedoms see more than £7bn withdrawn in 2018
On the go: The UK’s fondness for pension freedoms continues unabated, with £1.9bn withdrawn from pension schemes under flexible pension rules in the fourth quarter of 2018, according to the latest HMRC figures published on Friday.
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Features
Data crunch: Do better returns trump greater contributions?
One of pensions’ great conundrums is the question of whether the size of contributions or investment performance has the greater impact on the size of the pension pot.
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OpinionData crunch: Consolidation will change shape of both DB and DC
Unlike pension systems in the rest of Europe, where large-scale pension funds are common, the UK is characterised by a large number of small, single-employer pension schemes. Some argue the disparate nature of UK pensions has created inefficiencies that should be addressed through consolidation.
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FeaturesGSK launches new investment options for DC members
Global healthcare company GlaxoSmithKline and the trustees of its pension plans have introduced two new defined contribution lifestyle options, responding to a change in member retirement saving behaviour following the introduction of pension freedoms in 2015.
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News
IFS: Bad assumptions damage annuity value assessment
On the go: Declining annuity sales are driven by individuals consistently underestimating how long they will live, according to new research form the Institute for Fiscal Studies.
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PodcastsPodcast: ESG - Trustee investment duties explained
Podcast: New regulations coming into force this year mean pension schemes will be required to publish more-detailed statements of investment principles. These will address financially material environmental, social and governance risks, such as climate change. In this episode, Stuart O’Brien, a partner at law firm Sackers, discusses recent ESG-related developments, the danger of conflating ethical matters with ESG considerations, and explains how schemes can respond to member and pressure group queries.
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News
Government provides £329m safety net to Nest
On the go: The government has given Nest, the workplace pension provider, a contingent liability guarantee of £329m to enable it to comply with the tough new master trust regime amid accusations of unfair state aid.
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OpinionHow to beat volatility in 2019
With an eye purely on the numbers, it might be tough to pinpoint exactly what has led to the worst year for stock markets since the end of the global financial crisis.
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News
Smart absorbs Lighthouse master trust as consolidation intensifies
On the go: Financial advice business Lighthouse Group has decided not to pursue authorisation for its master trust, handing over employers and members to competitor Smart Pension.
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News
DB providers lag on administration with months-long info delays
Defined benefit pension providers are lagging behind their defined contribution counterparts when it comes to providing information necessary for advising members on matters such as pension freedoms, recent research has shown.
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Features
Cummins scheme introduces sharia-compliant option
The Cummins UK Pension Plan has launched a fund for defined contribution members wishing to invest their pension in compliance with sharia law, while experts call for better sharia pensions provision across the UK.
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News
FCA warns of looming retirement poverty prospect
On the go: Inadequate retirement incomes that do not meet consumers’ expectations remain the central challenge for the pensions industry, according to the Financial Conduct Authority.
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News
Accounts manager admits workplace pensions cover-up
On the go: A Bradford-based accounts manager lied to investigators to try to hide the fact that restaurants had not given their employees workplace pensions.