All Master trusts articles – Page 16
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OpinionSuperfunds play vital role in the future of DB
For the 11m savers relying on defined benefit pensions for their retirement there has been some much needed good news in recent months.
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News
DB transfers heading into costly drawdown products, research finds
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.
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Mastertrust transfers and charges blasted in ‘worst in pensions’ study
Two of the UK’s largest mastertrusts have been named the worst performing providers in pensions over high charges and slow transfer processes.
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Could mastertrust consolidation result in stranded schemes?
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.
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OpinionSmall schemes should not pin hopes on consolidators
Consolidators looking to profit from pensions look to have government support, says the Society of Pension Professionals’ Paul McGlone, but those schemes in most desperate need of access to scale are unlikely to make attractive business.
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OpinionDashboard and AE improvements can cement Opperman’s legacy
It has been a busy first year for Guy Opperman, with some significant steps forward for auto-enrolment announced in last year’s review, the adoption of much-needed mastertrust and bulk transfers regulation, and the smooth roll-out of minimum contribution increases.
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OpinionSelf-driving pensions are worth our consideration
Artificial intelligence and other technologies are developing at breakneck speed, and many have pensions applications. It is time to explore the best practice in relation to these emerging technologies, says the Pensions Administration Standards Association’s Girish Menezes.
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OpinionStranded in a failed mastertrust
From the blog: From April 2019, mastertrusts will not be able to operate unless they have been authorised by the Pensions Regulator, and many may decide to pull out of the market.
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OpinionCarillion's post-mortem
It is not unusual for Work and Pensions Committee chair Frank Field to show off an impressive vocabulary when launching a salvo against political and personal foes. But even by his standards, the imagery used to put to bed the failed outsourcer Carillion has taken a turn for the macabre.
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News
TPR plan welcomed, but concerns remain over consistency
The industry has welcomed the Pensions Regulator's new corporate plan, which outlines how it plans to become “clearer, quicker and tougher”, but concerns remain over consistency and the watchdog's focus on smaller schemes.
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OpinionExpect as few as 15 master trusts within five years
Uncertainty and market jostling will greet the enforcement of the master trust authorisation regime in October, but the end result should benefit members, according to Stephen Coates at JLT Employee Benefits.
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News
Salvus snaps up Complete in £7m mastertrust consolidation deal
Salvus Master Trust has unveiled plans to acquire the members and assets of the £7m Complete Master Trust, as the sector’s consolidation drive begins to gather pace.
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The People's Pension absorbs Your Workplace Pension
The People's Pension has become the first mastertrust to publicise the acquisition of another mastertrust, as a new regime – under which mastertrusts must be authorised by the Pensions Regulator – is set to lead to further market consolidation this year.
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TPR raises bar with mastertrust code of practice
A new authorisation code requiring mastertrusts to demonstrate their financial sustainability may force a number of providers from the market, experts have speculated.
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Government lowers mastertrust authorisation fees
The government has announced that proposed fees for mastertrust schemes seeking authorisation have been revised downwards.
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OpinionFinancial and social returns can be easy bedfellows – if the will is there
Nico Aspinall, chief investment officer at the People’s Pension, discusses the obstacles to social investment in DC, and explains how they can be overcome.
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News
DWP to allow bulk DC transfers without member consent
The Department for Work and Pensions has pressed ahead with regulations easing the bulk transfer of defined contribution members without their consent, seen as a milestone in a drive for scheme consolidation.
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News
Dow Chemical opts for multi-country DC provision
Multinational Dow Chemical is moving its defined contribution plans in the UK and the Netherlands to an international DC solution.
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News
Nest amendments put before parliament
The government has responded to its consultation on the draft National Employment Savings Trust (Amendment) Order 2018, and laid it before parliament on Monday.
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OpinionThe year ahead for the Pensions Regulator
Lesley Titcomb sets out the Pensions Regulator’s priorities for 2018.