Defined benefit schemes could see a short-term increase in requests from members to switch their benefits into defined contribution schemes, due to potential government plans to restrict such transfers, benefit consultants have predicted.
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Defined benefit schemes could see a short-term increase in requests from members to switch their benefits into defined contribution schemes, due to potential government plans to restrict such transfers, benefit consultants have predicted.
Video: Jeffrey Mushens, technical director at Tisa Exchange and James Markham, managing director of SBC Systems, talk about how technology can help schemes implement pensions consolidation, with both favouring a structure that places the burden on the receiving scheme (5:36).
News analysis: Defined contribution scheme representatives will see governance responsibilities increase after the pensions minister announces further reforms to ensure members get value – with a backdrop of industry debate on the charges cap.
Chartered surveyor Dalcour Maclaren has secured a virtually entire take-up of its defined contribution plan since it auto-enrolled its small workforce last year, and now the company is looking to streamline administration of the scheme.
News analysis: Investment management and consultant fees need to be more transparent to allow schemes to more accurately measure whether they are getting value for money, industry figures have said.
The Mineworkers Pension Scheme has secured a 10-year extension to the repayment deadline of its government-backed investment reserve, as it works to manage increased longevity among scheme members.
Schemes are thinking twice about undertaking bulk transfers of benefits to avoid the risk of passing on individual tax charges to members as they await final official rules.
Strathclyde Pension Fund has decreased its allocation to corporate bonds in favour of a wider absolute return bond strategy, to rebalance its portfolio as spreads tighten.
Private sector employers bidding for central government contracts are facing difficulties building pension strategies into their costs due to uncertainties surrounding contribution rates and exit payments in the new fair deal guidance.
As more defined benefit schemes follow a derisking plan towards their end point, monitoring and managing risk grows ever more important.
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