All Defined contribution articles – Page 94
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News
TPR: Only one master trust authorisation in the pipeline so far
On the go: Master trusts have been slow off the mark to obtain authorisation from the Pensions Regulator. They have a six-month window from 1 October to gain approval. Since then only one master trust has applied.
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News
FOS receives just 300 pensions transfer complaints
On the go: Since the introduction of the pension freedoms in 2015, the Financial Ombudsman Service has received fewer than 15,000 complaints involving pensions. Of this figure, just 1,700 have been about pension freedoms and around 300 of these complaints were about defined benefit transfers.
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News
How far away is the pensions dashboard from becoming a reality?
A complete and up-and-running pensions dashboard could be years away, according to experts, as implementation and credibility concerns come to the fore.
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NewsBaptist scheme pulls DGF for global infrastructure
Trustees of the defined benefit Baptist Pension Scheme have allocated to global infrastructure and dropped a struggling diversified growth fund manager.
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News
More unions eye CDC as possible negotiation outcome
What is good enough for postal workers is, it would appear, not good enough for academics.
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News
Self-employed back expansion of AE to cover gig economy
On the go: Self-employed workers want government help to save for retirement and would back new laws to expand auto-enrolment or to make saving for retirement compulsory, new research from Prudential shows.
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News
Two in five employees are approaching retirement ‘blindfolded’
On the go: Forty per cent of employed 46 to 55-year-olds do not know how much they have saved for retirement, a recent survey has found.
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News
OPDU launches independent pension trustee liability policy
On the go: The Occupational Pensions Defence Union has launched a pensions trustee policy aimed at individual independent trustees in the UK.
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NewsPatient 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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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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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
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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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
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
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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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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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?
When it comes to defined benefit transfers, it is important to focus on striking a balance between being fair to members transferring out and the majority who are left behind, says Royal London’s Steve Webb.