Pension schemes and providers have been urged to increase member awareness of scam tactics and tighten data security, amid the revelation that average losses from fraudulent and inappropriate inducements eclipsed the size of the average pension pot in the UK.
DB transfers heading into costly drawdown products, research finds
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August 8, 2018
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.
Mastertrust transfers and charges blasted in ‘worst in pensions’ study
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August 1, 2018
Two of the UK’s largest mastertrusts have been named the worst performing providers in pensions over high charges and slow transfer processes.
FTSE 100 steps up derisking drive as deficits shrink
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July 30, 2018
Defined benefit schemes of FTSE 100 employers have continued to derisk investment portfolios at a rapid rate, despite mismatching of assets and liabilities generating attractive returns over the past year.
BT’s 'sleight of hand' bond gift slashes accounting deficit
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July 30, 2018
BT’s defined benefit scheme has seen its accounting deficit drop by £1.8bn over the past quarter after investing in the bonds of its own sponsor, but some experts have questioned whether the move has any meaningful impact on member security.
Threshold adults favour medium-term saving over pensions
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July 26, 2018
Analysis: A new report suggests that savers described as threshold adults are limiting their participation in pension saving due to the competing priority of establishing themselves as adults – do they need a more flexible pension system?
Communications essential as cold-calling ban takes step forward
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July 23, 2018
The Department for Work and Pensions has taken a further step towards implementing a ban on cold calls related to pensions, but experts have cautioned that the delayed measure will not be sufficient on its own to stamp out scams.
Mandatory tenders welcomed by pensions industry
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July 18, 2018
UK pension schemes will be required to conduct competitive tender processes before hiring their first fiduciary manager, under recommendations set out by the Competition and Markets Authority on Wednesday.
Select committee hails CDC as 'new Beveridge' for UK pensions
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July 16, 2018
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.
Could mastertrust consolidation result in stranded schemes?
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July 5, 2018
Strict requirements for mastertrusts to contingency plan for their own demise as part of the sector’s new authorisation regime may have unintended consequences if wound-up schemes become stranded, experts have warned.