Even trust-based schemes not covered by the Association of British Insurers’ retirement choices code – which launches tomorrow – could use it to ensure members are fully informed about the open market option, the organisation has said.
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Even trust-based schemes not covered by the Association of British Insurers’ retirement choices code – which launches tomorrow – could use it to ensure members are fully informed about the open market option, the organisation has said.
Data analysis: The Pensions Regulator has reinforced its online auto-enrolment registration and accompanying communication campaign to encourage companies to record their pension scheme details, after its research revealed many employers were unaware of the procedure.
Annuity specialists have urged schemes to engage more with members about enhanced annuities, as figures show their value over standard rates has strengthened during the past six months.
More local authority funds are likely to join the Pensions Infrastructure Platform having waited for the initiative to gain momentum, the chief executive of the London Pensions Fund Authority has said.
Data analysis: Leading industry figures have called on companies to build on the major influence they have on encouraging employees to start planning for their retirement, revealed in a report released today.
The Pensions Advisory Service is in discussions with the government and the Pensions Regulator about creating an information resource to help smaller employers cope with auto-enrolment, its chief executive has revealed.
British Airways has begun to send general scheme information electronically to those in its older Airways Pension Scheme, with 700 members already signing up.
Special health authority NHS Blood and Transplant has tendered an alternative auto-enrolment scheme for a fraction of its workers, in an accelerated procurement process to meet its May staging date.
Some employers are asking trustees to consider innovative funding proposals to deal with the adverse effect plunging gilt yields are having on their schemes' finances, lawyers have reported.
Schemes who outsource administration on a per person basis need to negotiate better value contracts ahead of auto-enrolment or they risk being hit with significant costs, according to industry experts.
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