All member engagement articles – Page 2
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NewsPensions industry should look ‘beyond narrow compliance’
The Pensions Regulator and the Financial Conduct Authority want the industry to look “beyond narrow compliance” and consider consumer outcomes.
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NewsNest and Sainsbury’s members shrug off LDI crisis
October’s market turmoil and the slump in UK government bonds did not trigger a spike in Nest members checking their defined contribution pots, the research arm of the government master trust has said.
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NewsAon warns of 'unintended consequences' from pension campaign
On the go: Aon has warned the Pensions Awareness Week campaign could have “unintended consequences” due to the current cost of living crisis.
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News‘Let’s rethink all’ member options before dashboards introduction
Legislative and policy assumptions about member behaviour as they approach retirement are completely out of sync with reality, and now is the time to “rethink all of it” before dashboards are introduced, according to Philip Brown, group director of policy and external affairs at B&CE, provider of The People’s Pension.
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NewsSmall pots problem is ‘only going to get worse’
The number of small pension pots — and the costs of administering them — will continue to increase, despite efforts from the government and industry, a Pensions and Lifetime Savings Association panel has warned.
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NewsBurghart announced as minister for pensions and growth
On the go: Alex Burghart MP has been confirmed as minister for pensions and growth at the Department for Work and Pensions
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NewsRetirement risks make UK drop to 10th in global pensions index
The UK slipped from ninth to 10th in Mercer’s latest retirement income survey, as the long-term shift from defined benefit to defined contribution leaves members facing greater retirement risks.
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NewsFRC publishes ‘consistent and reliable’ standards for dashboards
On the go: The Financial Reporting Council has confirmed the changes being made to Actuarial Standard Technical Memorandum 1 in preparation for the launch of the dashboards, striving for “consistent and reliable” pensions illustrations.
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NewsGovernment’s new illiquid rules to apply to all DC schemes
The Department for Work and Pensions has confirmed it will push ahead with a requirement that trustees must include a policy on illiquid investments in their defined contribution schemes’ chair’s statement, despite stern criticism from the industry.
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NewsNew ‘pensions minister’ grilled on AE expansion and tax reform
Alex Burghart, the new parliamentary undersecretary of state at the Department for Work and Pensions, has suggested he is keen to see auto-enrolment expanded to cover emergency savings pots.
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NewsScottish Widows and Interactive Investor see green pension demand
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including a study from Scottish Widows suggesting green pensions are valuable for recruitment, and news that one in 10 workers have chosen a sustainable pension.
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News18,000 teachers subject to ‘challenging’ McCloud choice
Some 18,000 teachers have been made retrospectively eligible for Local Government Pension Scheme benefits by the implementation of the McCloud remedy, presenting an “administratively challenging” task for both the Teachers’ Pension Scheme and LGPS-administering authorities, according to the Local Government Pensions Committee.
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NewsAE contributions not reaching those most in need
While many employers offer auto-enrolment contributions above the minimum rate, the workers that benefit are seldom those most in need, according to new research from Nest Insight.
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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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OpinionDigital pensions? If you build it, they will come
Mantle head of proposition Graeme Riddoch explains why schemes should be looking to develop pension app solutions for their members, as it boosts engagement and reduces admin costs.
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NewsMajority of low earners cannot afford auto-enrolment contributions
Nearly seven in 10 (69 per cent) of low earners are unable to afford pension contributions due to the cost of living crisis, according to new research from Legal & General Investment Management.
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NewsAPPT pushes for diversity and inclusion in trustee boards
On the go: The Association of Professional Pension Trustees has launched a “hints and tips” briefing focused on diversity and inclusion, in a bid to influence how trustees go about shaping their boards.
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NewsCovid-hit fiduciary management market gains 70% in 5 years
Although the UK fiduciary management market has risen by 11 per cent a year over the past five years, its growth is still below the previous period’s figures, with Covid-19 having an impact on selection processes in 2021, according to a survey by IC Select.
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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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NewsOmbudsman hits Teachers’ Pensions with maladministration fine
The Pensions Ombudsman has fined Teachers’ Pensions £500 for maladministration after it failed to adequately inform a member about the rules around breaks in pensionable service, but dismissed the member’s argument that the fine should be increased to the minimum required in cases of employment discrimination.