All Defined contribution articles – Page 91
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Opinion
Financial health matters
Editorial: I like to think that most employers take their workers’ wellbeing seriously.
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News
Aegon not interested in scooping up failed mastertrusts
Pensions provider Aegon has declared itself uninterested in buying mastertrusts that drop out of the market as a result of authorisation, aiming instead at the more lucrative single-trust defined contribution market.
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News
Cost concerns hinder company action on staff financial wellbeing
Forty-nine per cent of employers currently have no defined financial wellbeing strategy in place, a recent survey has found, as experts urged corporate boards to tackle the subject formally.
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Features
Should schemes use social media to engage with members?
Any other business: On July 26, members of the Teachers’ Pensions Scheme were informed via Facebook that their service was experiencing disruption. Later that day, they were told that access had been restored. Some members disagreed.
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News
Mid-market direct lending approach 'too constraining', WTW says
Mid-market direct lending is “now demonstrating signs of material deterioration in credit underwriting and future return potential”, according to a report by consultancy Willis Towers Watson, which is instead recommending its clients invest in debt for US real estate and UK commercial real estate.
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Opinion
DC investment design: How to ensure good member outcomes
Columbia Threadneedle’s Andrew Brown explains how trustees can help to ensure good outcomes for DC members by regularly reviewing the suitability of the default, ensuring adequate investment governance and establishing measurable performance objectives.
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News
DB transfers heading into costly drawdown products, research finds
Defined benefit members transferring out of their scheme to take advantage of freedom and choice may be wasting money on fees for flexibilities they are unlikely to use, according to a new report.
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News
SES Water cites Ofwat price review in proposed scheme closure
SES Water, formerly known as Sutton and East Surrey Water, has opened a consultation with members on the closure of its defined benefit section to future accrual, citing efficiencies demanded by water regulator Ofwat.
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Opinion
Companies cannot justify DB for older workers only
No one wants to give up a lucrative defined benefit pension, but allowing continued accrual for older workers while younger workers get inadequate defined contribution stifles businesses and creates intergenerational inequality, writes Quantum Advisory’s Phil Farrell.
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News
Bank of England raises base rate to 0.75%
The Bank of England has raised its base interest rate to 0.75 per cent, its highest level since February 2009.
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News
Mastertrust transfers and charges blasted in ‘worst in pensions’ study
Two of the UK’s largest mastertrusts have been named the worst performing providers in pensions over high charges and slow transfer processes.
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News
Johnson: With-profits a better alternative to risky CDC
Plans for collective defined contribution schemes are "a risk too far", and savers should instead be offered individual savings pots invested in with-profits funds, according to one of the architects of freedom and choice.
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Features
Threshold adults favour medium-term saving over pensions
Analysis: The pensions industry has long been deliberating over the best way to cater for millennials currently beginning their savings journeys, but it may be time to focus on a new term – the so-called threshold adult.
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Opinion
PASA outlines five pillars of DC administration governance
Defined contribution administration governance is an often overlooked area, but anyone involved in DC should understand the five key elements of administration and how they impact their role, writes PASA’s Gary Evans.
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Opinion
Guidance will have to replace advice for low earners
Independent financial advice is simply not an option for many lower earners striving for a comfortable retirement, so key changes are needed to upgrade the quality of guidance, says Charles McCready of the Tax Incentivised Savings Association.
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News
ABI expresses concerns over dashboard speculation
On the go: The Association of British Insurers has expressed concerns over the “threat to the pensions dashboard”, following speculation yesterday that secretary of state for work and pensions, Esther McVey, wants to kill off the project.
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Opinion
How would a lack of government support affect dashboard progress?
Analysis: Reactions to speculation that the secretary of state for work and pensions wants to scrap the pensions dashboard project have been unsurprisingly negative.
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News
Select committee hails CDC as 'new Beveridge' for UK pensions
Collective defined contribution schemes could usher in a new era of progress for the welfare state, according to the Work and Pensions Committee’s latest report, as the influential group of MPs seeks to increase pressure on government to facilitate the swift creation of CDC schemes.
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News
Government appoints first CEO of single financial guidance body
On the go: The Department for Work and Pensions has appointed John Govett as the first chief executive officer of the new single financial guidance body.
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Opinion
Should I stay or should I go?
Editorial: Moving away from the security of a guaranteed defined benefit fund is a big decision to make. For many, it may be the wrong decision.