More master trust news – Page 20
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News
Diversification helps Nest mitigate FTSE slump
On the go: Diversification in Nest’s default funds seems to be paying off, as the government-backed workplace pension scheme has seen a decrease of 17.6 per cent since the beginning of this year, while the FTSE 100 has fallen by 34.3 per cent.
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Charge cap could be a barrier to CDC, experts fear
A collective defined contribution pension scheme for Royal Mail employees is inching closer to the starting gate, but an amendment to the pension schemes bill to impose a charge cap could derail other nascent CDCs from ever getting off the ground, according to experts.
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Opperman to legislate for DC consolidation
On the go: The minister for pensions and financial inclusion has unveiled plans to force the consolidation of subscale defined contribution arrangements.
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LGPS pool chair: Fragmented system cannot continue
On the go: The UK's private sector pension schemes will be forced to consolidate in the same way as the Local Government Pension Scheme, according to the chair of the Brunel Pension Partnership.
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Smart Pension to take on Welplan Pensions Master Trust
On the go: Welplan Pensions Master Trust is consolidating with Smart Pension, after a decision not to seek master trust authorisation.
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OpinionUnnecessary obstacles creating unequal opportunities to save
Now Pensions chair of trustees Joanne Segars points out the current challenges of the gender pensions gap and how some simple solutions could go a long way to correct this imbalance.
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News
Blue chips rush to offload DC pension plans to master trusts
More and more blue-chip employers are looking to transfer their defined contribution pension plans to the new breed of master trusts. The Vodafone UK DC Pension Plan is the latest to move all members’ accounts, amounting to £1.4bn, into LifeSight. The transaction is expected to be finalised by the end of March 2020.
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OpinionThe biggest driver of change in DC
Data Crunch: Broadridge’s Jonathan Libre looks at recent changes in legislation in the defined contribution space and how these schemes have adapted to a fast-evolving world of requirements.
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News
KPMG pensions spin-off targets industry modernisation
On the go: KPMG’s former pensions advisory business has relaunched as Isio following its sale to a private equity backer, with the new company looking to grow its consolidation offering and improve the industry’s use of technology.
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News
Auto-enrolment process creates 'employee underclass'
Three out of four pensions professionals say employers should be free to statutorily enrol any employee they wish, even if current auto-enrolment age and earnings criteria are not met.
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News
Women unfairly targeted by pension anomaly
On the go: Women are being unreasonably affected by the net pay anomaly, according to government data, as pressure mounts on politicians to act.
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News
Nest joins campaign for Barclays fossil fuel divestment
On the go: Master trust Nest has joined a group of institutional investors urging Barclays to publish a plan to gradually phase out its financing of fossil fuel companies.
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News
DWP self-employed savings trials disappoint
On the go: A Department for Work and Pensions trial of techniques to encourage more self-employed workers to save into a pension pot has failed to persuade many to log into their accounts.
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PodcastsPodcast: Regulator should take ‘softly-softly’ approach to DC consolidation
Podcast: The Pensions Regulator should take a “softly-softly” approach to defined contribution consolidation, similar to what happened with master trusts during the authorisation process, where subtle conversations occurred and schemes decided to exit in an orderly manner, according to Adrian Boulding, director of policy at Now Pensions. He and Rosalind Connor, partner at Arc Pensions Law, discuss the response from the watchdog to its consultation of the future of trusteeship and governance, among other topics.
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News
Increased trustee workload to unleash wave of DC consolidation
On the go: One in three trust-based defined contribution arrangements expects to transfer members into a master trust over the next five years, with stakeholders citing the drain on time and resources of running an own-trust solution.
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Features
Hundreds of thousands of micro pots suffer remorseless attrition
Data crunch: Eight years after the auto-enrolment revolution, millions of workers’ pensions are left languishing in master trusts when they move jobs.
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News
Govt maintains earnings trigger despite industry criticism
On the go: The government has opted to maintain the earnings trigger for automatic enrolment at £10,000 for 2020-21, despite long-held industry concerns that the current level is limiting pensions coverage among underprivileged demographics.
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Successful reforms require Pensions Commission return
On the go: Pension reforms from the mid-2000s, such as the introduction of auto-enrolment, were only implemented successfully because of the Pensions Commission and its membership, research has found.
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News
TPR fines FCA for pension failures
On the go: The Financial Conduct Authority has been ordered to pay a £2,000 fine by the Pensions Regulator for lack of details in its defined contribution scheme documentation.
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USS DC section to begin exploring alternative assets
On the go: The Universities Superannuation Scheme is to begin adding alternative assets to its default defined contribution portfolio, the £68bn pension giant announced on Wednesday.