All Drawdown articles – Page 9
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NewsThe future of DC? Nest unveils retirement blueprint
Government-backed mastertrust Nest has outlined its plan for providing members with an income in retirement, but experts have said the proposals’ application to today’s defined contribution market is limited.
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Opinion
Five key graphs on Nest’s retirement income blueprint
From the blog: The flexibilities did away with traditional thinking on what makes an appropriate default fund, and with it kick-started the debate on the best route for accessing income from defined contribution pots.
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Opinion
Altmann sets out on maiden voyage, industry expectations high
From the blog: Pensions minister Baroness Altmann of Tottenham – commonly known in the industry as Ros Altmann – yesterday delivered her maiden speech to the House of Lords, outlining the government’s thoughts on the state pension, consumer protection and what lies ahead for auto-enrolment.
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OpinionEditorial: Speed bumps
When the government announced last week it was launching a consultation into the processes underlying the pension freedoms, it came as little surprise to those who foresaw the rollout of these reforms having a bumpy ride.
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OpinionMinded to make the money last?
From the blog: So, only around one in eight over-40s plans to cash in more than half of their pension pot.
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News
More clarity needed on schemes' post-reform offerings
Leadership of DC summit: Panellists demanded a quick response from trustees and providers on defined contribution scheme design, following the introduction of the pension freedoms.
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News
Employers probe external vehicles to facilitate drawdown
Employers have been looking at a range of non trust-based drawdown solutions, say consultants, as trustee interest in providing flexi-access to members remains low.
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OpinionEducate, guide, default – how schemes should deal with DC flex
The new pension flexibility has now been available for one month. Early indications suggest a great deal of interest among pension savers, but it is too early to identify trends in terms of what people will do with their pension savings.
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News
Cultural norms could inform UK DC outcomes, PPI report shows
The Australian experience of defined contribution indicates UK pensioners could deplete their retirement pots too early, a report warns, but experts say what we can learn from overseas systems is limited.
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News
Battle of growth v consolidation in DC market
Pension providers should cut costs by close to a third to capitalise on opportunities in the UK’s defined contribution market, a white paper has said, but consultants questioned the potential for new market entrants.
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OpinionNAPF: Half believe drawdown will deliver guaranteed retirement income
Talking Head: The NAPF’s Graham Vidler says its research into member choice at retirement pointed to a worrying amount of confusion over what drawdown really means in practice.
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OpinionEditorial: Drum roll...
So there you have it. By the time you read this, swaths of people will have battered down their providers’ doors to get their mitts on their pension pots, to splash on posh cars and cruises. Or not.
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News
More than half unlikely to take advice on pension access
Most retirees are unlikely to seek advice before withdrawing their pension, a survey has shown, as the industry wrestles with how to protect members in the new flexible pensions environment.
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Opinion
Six ways to meet the needs of the DC generation
Talking Head: With the introduction of new pension freedoms, many savers in defined contribution schemes will have more ways of accessing their pension savings.
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Opinion
DC derisking needs a more personalised approach
The news that 20 Aon Hewitt defined contribution schemes have left members exposed to investment risk due to a lifestyling failure is clearly the result of an unfortunate blunder, writes Andrew Pennie of Intelligent Pensions.
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Opinion
The case for cash: pension freedom and derisking
From April, savers will be faced with tough choices when it comes to drawing their pension: take the entire pension upfront, remain invested throughout retirement or buy a guaranteed income through an annuity.
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News
Industry mulls impact of Labour drawdown cap pledge
Analysis: Experts have raised questions about a possible cap on drawdown charges proposed by Ed Miliband last week, as the industry braces itself for the reforms and an uncertain general election outcome.
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Opinion
Ready or not: pensions administration post-April 2015
The 2014 Budget rewrote the rule book on retirement benefits, ushering in massively expanded flexibility for defined contribution members, while simultaneously throwing down some fairly significant challenges for scheme administrators.
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News
BA allows AVC transfer to meet flexibility demand as schemes seek middle way
British Airways’ pension schemes have introduced a new additional voluntary contribution transfer option allowing members to take advantage of the greater retirement flexibility available after April.
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News
Default fund design hamstrung by lack of behavioural data
Defined contribution experts have said a lack of sufficient data on members’ likely reaction to April's pension flexibilities is leaving default fund design in a state of limbo.