All auto-enrolment articles – Page 12
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NewsDWP DC single charging structure to bring headaches for master trusts
The Department for Work and Pensions is considering introducing a universal charging structure for the default funds in defined contribution schemes. The move was welcomed for the clarity it might give to DC savers, but experts have warned of the problems it would cause master trusts like Nest.
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NewsScams, dashboards, superfunds feature in TPR’s three-year plan
The Pensions Regulator has published its latest three-year plan, an agenda encompassing everything from pensions security, tackling scams, dashboards, superfunds, and coping with the changing nature of defined contribution pension provision.
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NewsRegulators ask industry for help on improving pension saving
On the go: The Financial Conduct Authority and the Pensions Regulator have teamed up to investigate how people make decisions about their pensions at key points throughout their working lives, in order to better support savers through future regulation.
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NewsACA urges steps to fill guidance ‘black hole’
On the go: The Association of Consulting Actuaries has argued that fixing the “disjointed” and “fragmented” system that is UK pensions provision is vital if the full potential of pension freedoms is to be unlocked.
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NewsPLSA calls for new legislation to support members at retirement
On the go: The Pensions and Lifetime Savings Association has called on the government to introduce legislation underpinning a new set of product, communication and governance standards to build on pension freedoms and provide greater support for savers at retirement.
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NewsDC schemes to send two-page ‘simpler statements’ in 2022
The Department for Work and Pensions is consulting on regulations that would see schemes required to send simpler annual benefit statements to their members from April next year.
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OpinionPolicy changes needed to avoid generations of pension inadequacy
Defined contribution pension schemes have taken over defined benefit plans as the main form of pension saving for the UK’s private sector.
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NewsGovt urged to encourage later life pension contribution plan
On the go: Policymakers should carefully consider later life cycle factors when developing future policies to increase retirement savings, according to the Institute for Fiscal Studies.
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NewsAuto-enrolment participation stagnates in 2020
On the go: 2020 was the first year to see unchanged levels of participation since the auto-enrolment scheme was introduced, according to new figures from the Office for National Statistics published on Monday.
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NewsMulti-jobbers missing out on £76m in pension contributions
On the go: Low earners with multiple jobs are missing out on £76m a year in employer contributions to their pension due to an “unfair system”, according to Scottish Widows.
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NewsOnly 36% of construction workers are saving into a pension
On the go: The majority of construction workers are not saving towards their retirement, according to research by union Unite.
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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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NewsLCP warns private sector DB dying faster than realised
On the go: New research from consultancy LCP has found that with private sector defined benefit schemes closing more rapidly than realised, the incomes of newly retired workers are set to fall at a much more dramatic rate in the coming decades than had previously been thought.
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Govt should boost CDC pensions to rebalance consumer risk
The Institute and Faculty of Actuaries has proposed a number of measures to tackle the so-called ‘great risk transfer’, among which is a call on the government to emphasise the benefits of collective defined contribution schemes as an alternative to traditional DC pension arrangements.
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NewsCalls for govt to introduce sidecar savings into auto-enrolment
On the go: A group of Conservative party members have called on the government to introduce a sidecar savings mechanism into the existing auto-enrolment policy.
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Industrial action threats in response to new USS employer consultation
On the go: The University and College Union has once again hinted that industrial action may be called for after accusing Universities UK of failing to stand up for members.
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Mercer and L&G to target net-zero, Aviva launches equity fund
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with Mercer and Legal & General reducing carbon emissions, and Aviva’s new equity fund launch.
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Self-employed missing out on £4bn pension contributions
On the go: Some 4.3m self-employed individuals are missing out on £4bn in employer pension contributions a year, according to new research.
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Pandemic dampens DC membership growth in 2020
On the go: The increase in defined contribution members slowed to 11 per cent in 2020 as a result of the pandemic, compared with 17 per cent in the previous year, according to data from the Pensions Regulator.
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Pension contributions bounce back following first lockdown
On the go: Employee contributions to defined contribution schemes jumped by 12 per cent after parts of the economy were restarted following the UK’s first lockdown, new data has revealed.