All value for money articles – Page 4
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NewsPPI: Governance should be focus of UK value-for-money framework
Lessons on how to successfully integrate robust governance procedures in providing value for money in UK pensions must be taken from overseas, the Pensions Policy Institute has said.
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NewsCD&R called to reassure MPs over Morrisons takeover
On the go: Labour and Liberal Democrats MPs have warned Clayton, Dubilier & Rice that it must make guarantees to workers and rule out asset-stripping as it looks set to complete its £7.1bn Morrisons takeover.
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NewsFCA opts for softer approach to charges comparison in DC schemes
The Financial Conduct Authority is taking a softer approach to cost and charges comparison requirements in defined contribution schemes after listening to industry feedback on its proposed rules.
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PodcastsPodcast: No way to avoid the indexation ‘rules lottery’ as inflation bites
Podcast: High inflation will spur more schemes to look to switch from the retail price index to the consumer price index, but there is still no way around the “rules lottery”. Eversheds Sutherland partner Stuart Earle and Aon partner Lynda Whitney discuss inflation, the botched attempt to raise the normal minimum pension age, and a new value for money framework.
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NewsTPR warns small schemes: Prove value or wind up
On the go: The Pensions Regulator has warned smaller defined contribution pension schemes they will need to demonstrate their value to members or wind up, as more stringent rules come into force next month.
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NewsRegulators propose DC-wide ‘value for money’ framework
The Pensions Regulator and the Financial Conduct Authority will be forcing defined contribution schemes to disclose more data around their investment performance, scheme oversight, and costs and charges, as they unveil a discussion paper looking at creating an “holistic framework” for assessing value for money in this sector.
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NewsDC consolidation ‘too far, too soon’ but is an inevitability, experts say
On the go: The Department of Work and Pensions' proposals on consolidation within the defined contribution market go “too far, too soon”, and risk eroding the involvement of employers in their workforce’s retirement outcomes, experts have warned.
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NewsFCA to focus on driving value for money for savers
On the go: The Financial Conduct Authority is planning to access how to drive value for money in pensions during accumulation, its business plan for 2021-22 has revealed.
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NewsPrivate sector DB and hybrid schemes see rise in DRCs
On the go: The value of gross assets, excluding derivatives of private sector defined benefit and hybrid schemes, fell by 1 per cent between the third and fourth quarters of 2020, according to the Office for National Statistics.
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NewsRushing DC consolidation could hurt member outcomes
The Department for Work and Pensions wants to speed up consolidation among schemes with less than £5bn in assets. Although the initiative was broadly welcomed, experts have warned that rushing its implementation could worsen member outcomes.
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NewsTreasury slammed for McCloud errors, but members will foot the bill
The Public Accounts Committee has issued a scathing report highlighting HM Treasury’s failure to predict the numerous problems stemming from 2011-15 public sector reforms, warning its mistakes will take “generations” to resolve.
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NewsRussell Group universities propose USS compromise
Russell Group has backed the Universities Superannuation Scheme trustee’s suggested “lower-cost, more flexible” alternative to the existing scheme structure.
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NewsCost Transparency Initiative sees 23% spike in schemes’ uptake
On the go: The Cost Transparency Initiative has recorded a 23 per cent increase in uptake during the past year, with 79 per cent of pension schemes now making use of its framework.
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NewsSarah Smart endorsed as TPR chair despite conflict of interest concerns
The Work and Pensions Committee has given its assent to the appointment of Sarah Smart as the next chair of the Pensions Regulator, putting aside concerns about potential conflicts of interest.
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NewsFraud Compensation Fund to begin processing cases within 18 months
The Fraud Compensation Fund could begin processing cases through to settlement within 12-18 months, a meeting of the Transparency Task Force was told on Monday.
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OpinionPressure builds on small DC schemes to consolidate
Covid-19 looks to be accelerating the trend towards consolidation in the defined contribution industry, and the UK government is keen to see the transition take place at an even faster pace, writes Sackers’ Emma Martin.
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OpinionDC costs need more transparency to create member confidence
AllianceBernstein’s portfolio manager of multi-asset solutions, David Hutchins, suggests a series of changes to defined contribution costs and charges in light of the review launched by the Department for Work and Pensions in this space.
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News
Smaller schemes to prove value for members or face consolidation
Defined contribution schemes with assets below £100m will have to prove their value for members, or face being advised to wind up or consolidate, according to new rules proposed by the Department for Work and Pensions.
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News
Pot-follows-member agreements: Feasible or fantasy?
Now Pensions wants to agree bilateral deals with other master trusts to consolidate small pots resulting from auto-enrolment, but experts say some hurdles remain.
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OpinionFix democratic deficit before mandating professional trustees
If the Pensions Regulator really wants a professional trustee on every board, it should prove that this will add value, says the Association of Member Nominated Trustees’ David Weeks, arguing that more immediate action should be taken to address weakening member representation on scheme boards.