Latest articles from Maxine Kelly

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.

Schemes win extended reprieve from European OTC clearing rules

The European Commission has recommended schemes be given a two-year reprieve from over-the-counter derivative clearing requirements. But industry experts still expect pension funds to end up paying higher transaction costs.

Pip to seed separate renewables fund as it seeks FCA approval

The Pensions Infrastructure Platform has said plans to expand its offering by adding a renewables fund this year, as UK schemes continue to seek inflation-linked returns. 

The Review: 'Massive uptick' in larger DB funds exploring transfers

PE Review countdown – 26.01.15

Video: What effect are the flexibilities having beyond the world of DC? In the first of our three Countdown to April videos, JLT Employee Benefits' Mark Wood and Eversheds' Tim Smith explain how DB schemes are dealing with the knock-on effects of the reforms (6:08).

What Malcolm in the Middle says about our retirement prospects

We've been talking about it for nigh on a year now, but a report released by the NAPF today paints a detailed portrait of the decision-making paralysis facing many in the 50-70 age group at retirement.

'The Unpredictability of Retirement' surveyed more than 1,200 of these baby-boomers in the latter half of 2014 to find out how pension changes – freedom and choice, shifts in state pension age, and the decline of defined benefit pension schemes – have affected their journey towards or during retirement.

It cheerfully segmented them into three alliterative characters:

  • 'Satisfied Sarah', retiring early with full DB pension, a homeowner with paid-off mortgage and very unlikely to have to work in retirement;
  • 'Malcolm in the Middle', who has a mixture of defined contribution pension and other savings, would have liked to have retired at or before the state pension age, homeowner but still has some mortgage to pay off, facing drop in living standards if he retires fully; and
  • 'Pinched Penny', a factory worker retiring on state pension only at SPA, expects retirement to be hard but no harder than life has been leading up to it.

Click here for the full blog post...

LPFA: £500m GMPF tie-up not limited to infra

The chief of the London Pensions Fund Authority has said the £500m tie-up with the Greater Manchester Pension Fund, announced last week, will consider “infrastructure in a broad definition”. 

Schemes plan partial DB-DC transfers to trim liabilities

Legal experts have reported an increase in pension schemes planning to reduce their liabilities by changing their rules to allow partial transfer of members' pure defined benefit assets into defined contribution arrangements.

Webb backs mastertrusts to lead CDC vanguard

Pensions minister Steve Webb has signalled support for mastertrusts delivering a collective defined contribution option for members, at a Trades Union Congress conference on Wednesday – but at least one of the large mastertrusts has rejected the idea.

Can a scheme rebrand reignite member engagement?

Any other business: The Budget changes have inevitably pushed pension schemes to update how they communicate with members. But could a wider overhaul of your 'brand' boost engagement? Should it set scheme and sponsor apart?

Inflation hedging on the rise with smaller scheme LDI

Inflation hedging activity saw a jump towards the end of last year as medium-sized schemes took advantage of favourable pricing, ahead of further inflation falls.