All Defined contribution articles – Page 94
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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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OpinionCompanies 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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OpinionPASA 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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OpinionGuidance 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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OpinionShould 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.
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News
Improved engagement more urgent than product innovation, says PPI
Savers can achieve positive outcomes with the range of products already available to them, according to a Pensions Policy Institute report emphasising the importance of engagement in helping people make more informed decisions.
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NewsLuxfer Group offers IFA to deferred members
Global materials technology company Luxfer Group has launched an exercise offering deferred members of its defined benefit scheme the opportunity to discuss their benefit options with an independent financial adviser.
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Opinion
How are target date funds innovating?
Experts have always found it impossible to analyse one without making comparisons with the other. As with footballing greats Lionel Messi and Cristiano Ronaldo, no conversation about the target date fund has ever taken place without mentioning its competitor, the lifestyle fund.
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OpinionWhat have we learnt from the FCA’s Retirement Outcomes Review?
The Financial Conduct Authority’s final findings from its Retirement Outcomes Review offer a fascinating early glimpse into the behaviours of consumers after the introduction of pension freedoms, says Redington’s Jon Parker.
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OpinionBoost innovation and understanding
There needs to be a shift in public policy to create a savings culture and boost understanding, argues Lesley Carline, vice-president of the Pensions Management Institute.
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Features
How can pension schemes support banks?
Analysis: Around 30 banks have entered into bank capital relief transactions with institutional investors, according to consultancy Aon, with the size of the market estimated at about £20bn, and continuing to grow rapidly.