All Master trusts articles – Page 3
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NewsGovernment explores CDC decumulation schemes
On the go: The Department for Work and Pensions is exploring whether it could introduce legislation for decumulation-only collective defined contribution schemes, since these could help “improve member choice and outcomes”.
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NewsEngineering company appoints LifeSight as master trust provider
On the go: Engineering company KBR has appointed LifeSight as master trust provider for its 6,400 UK defined contribution scheme members.
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NewsPASA urges master trusts to engage with advisers in dashboards dash
On the go: The Pensions Administration Standards Association has urged master trusts to have “further discussions” with qualified advisers to guarantee they are ready for the pensions dashboards launch.
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NewsOne third of self-employed trial Nest members have ‘zero pots’
On the go: Around a third of self-employed Nest members in a Nest Insight savings trial have never made a contribution to their pension pot.
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NewsPension savers lose £1.7bn on retirement transition
On the go: Workplace pension scheme members are losing around £1.7bn a year during their transition into and in retirement, according to new research from master trust HSBC Tomorrow.
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OpinionHow to apply for dashboards staging deadline deferral
Sackers associate director Oliver Topping details six tips for schemes considering a pension dashboards staging deadline deferral.
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OpinionWe need to shift outdated dialogue to increase member value
HSBC Tomorrow Master Trust chief executive Alison Hatcher sets out measures that the pensions industry can take in order to boost member value.
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NewsSmart Pension acquires Ensign Master Trust
On the go: Smart Pension has acquired the Ensign Master Trust, making it the eighth such consolidation by the provider, which has promised that an average 25-year-old member would be “thousands of pounds better off” as a result of the move.
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NewsTPR updates climate risks guidance
On the go: The Pensions Regulator has updated its guidance on climate-related risk requirements to include mention of the “portfolio alignment metric”, which affected schemes have had to provide since October 1.
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NewsTPR approached a ‘number of times’ by capital-backed consolidators
The Pensions Regulator has been approached a “number of times” by companies working on capital-backed consolidation models, according to Charles Counsell, who has called for superfund legislation.
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NewsOmbudsman orders law firm to pay thousands in missing contributions
The Pensions Ombudsman has handed a £1,000 fine to a law firm and ordered it to repay thousands more in missing contributions, after it failed to engage either with the affected member or the ombudsman’s office.
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NewsGovernment urged to allow Nest to offer drawdown
The government has been told to amend legislation to allow Nest members to drawdown their pension pot, as well as extending investment pathways to trust-based schemes — requests made as part of a response to its call for evidence on savers’ understanding of their pensions.
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NewsDWP delays first dashboards staging dates by two months
The government has delayed its timetable for connecting the first two cohorts of pension schemes to the dashboards programme.
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NewsTPR supports actuaries’ climate report, Smart commits to net zero
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including a new climate change report for actuaries, Smart Pension announcing a net zero target for 2040, and savers supporting the government’s push for greener pensions.
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NewsRetirement guidance is improving but decumulation challenges remain
On the go:Support available to those approaching retirement is improving, particularly in master trusts, but a comprehensive framework is still required to ensure all savers get the help they need, according to new research.
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NewsDWP questions industry on Nest’s fund offering
The Department for Work and Pensions is gathering views on support available to scheme members when making savings decisions, and is questioning the industry on whether Nest’s current offering is sufficient.
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NewsSmall pots member exchange trial scuppered by NMPA
A trial being developed by three master trusts to exchange small pots has ground to a halt before it even started, due to the new normal minimum pension age rules, and will only be able to advance if new legislation is introduced.
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NewsWork and Pensions Committee chair Timms receives knighthood
On the go: Work and Pensions Committee chair Stephen Timms has received a knighthood in the Queen’s birthday honours.
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NewsMaster trust retirement outcomes 5% above pre-pandemic levels
On the go: Expected retirement outcomes for defined contribution master trust members now sit 5 per cent above pre-pandemic levels, according to Hymans Robertson.
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NewsLess than half of savers care about pension charges
On the go: Mortgage and bank account charges draw the attention of a higher proportion of savers than pension costs, according to new research.