More master trust news – Page 18
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News
Nest and DWP to analyse Covid-19 impact on self-employed savers
On the go: The government-backed master trust is to examine the financial impact of Covid-19 on self-employed people, with the pandemic delaying its practical tests expected this year.
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Mercer launches DB master trust as demand for consolidation increases
Mercer has launched a new defined benefit master trust promising sponsors enhanced governance and economies of scale, amid an accelerating trend towards consolidation and outsourced solutions, with pensions minister Guy Opperman stating that “bigger is better”.
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Scottish Widows snares top hire from Legal & General
Veteran professional David Butcher has just taken on a new dual role as a member of the master trust board and independent governance committee at Scottish Widows, moving from Legal & General’s master trust board.
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LCP: ‘Pot-follows-member’ could solve small pots problem
On the go: The government has been urged to look again at a ‘pot-follows-member’ solution to the small pots problem plaguing auto-enrolment and master trusts.
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PodcastsPodcast: DB schemes could be ‘doomed to failure’ by new funding code
Podcast: Defined benefit schemes could be “doomed to failure by measures that are designed to help them”, says Baroness Ros Altmann of the proposed new funding code. She is joined by SEI’s client strategy director Alistair Jones to discuss that issue, as well as the challenges faced by master trusts, and the increasingly bizarre McCloud remedy that, though intended to tackle age discrimination, has been accused of age discrimination.
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Master trusts to face cost challenges in years ahead
The fallout from the Covid-19 pandemic is only the latest in a long line of structural challenges the master trust industry must face in coming years, according to a new report from the Pensions Policy Institute.
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NewsEscott on the fast track to Railpen
High flyer Caroline Escott joined Railpen on September 1 as senior investment manager for active ownership. At just 36, and a millennial in a senior role, she is a rarity in the six trillion-pound pension industry, not noted for diversity.
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Nest achieves tobacco-free goal ahead of schedule
On the go: Nest, the government-backed master trust, announced on Thursday that its investment portfolio is free of investments in tobacco companies.
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Govt to force schemes to publish climate risk disclosures
On the go: The largest pension schemes will be legally required to assess and report on climate change risks within their investment portfolios under new government rules.
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OpinionMaster trusts hit by ‘perfect storm’
Data crunch: Dalriada’s Paul Tinslay explains how repercussions from Covid-19 and possible changes in legislation have created a “perfect storm” for defined contribution master trusts.
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Widows switches into ESG fund as integration becomes standard
Scottish Widows has aligned a chunk of its pension portfolios with the transition to a low-carbon economy, as the integration of environmental, social and governance factors emerges as a competitive driver in the commercial defined contribution sector.
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Nest unveils net-zero investment strategy
On the go: Master trust Nest has introduced a climate change policy with the aim of achieving carbon neutrality across its investment portfolio.
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Providers urged to prepare comms for Covid squeeze
Savers underestimate the impact that the coronavirus crisis could have on their financial wellbeing, according to a new survey, leading to calls for providers to communicate reassuringly with the minority of members that engage in times of stress.
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Retirees deserting good value master trusts for lack of advice
Workers are ditching a widening range of retirement options offered by workplace defined contribution schemes for expensive retail products.
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Small pension pots put AE success at risk
Research released by the Pensions Policy Institute warned that the proliferation of small pension pots risks undermining auto-enrolment success, unless significant government intervention is undertaken.
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Financial illiteracy and poor support plague concerned savers
Apathy from pension providers and regulators is allowing millions of savers to sleepwalk into retirement traps, according to the findings of a series of reports into poor levels of financial education and literacy.
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New DB funding code could imperil sponsors and members
Some of the proposals in the Pensions Regulator’s consultation on a new defined benefit funding code could lead to worse outcomes for scheme sponsors, members and the Pension Protection Fund, according to a new report by LCP.
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Covid-19 forces half of DC schemes to review objectives
The coronavirus pandemic has compelled more than 50 per cent of defined contribution schemes to review their objectives and 20 per cent to alter their short-term plans, according to a report by Aon.
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Nest eyes 2026 breakeven amid increased revenue
On the go: Master trust Nest has seen its income rise 75 per cent over the course of last year while its expenditure fell by £20m, leaving it well placed to weather the effects of the coronavirus pandemic, according to its latest annual report.
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TPR touts tougher DB approach and shrinking DC universe
On the go: The Pensions Regulator has stated its ambitions to extend its direct supervision of schemes and refocus on prompt transactions, after meeting the majority of its performance objectives over the past year.