All Budget articles – Page 5
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Opinion
Budget 2015: The industry responds
While not as earth-shaking as last year's historic gamechanger, yesterday's Budget included two important moves – the creation of a secondary annuity market and lowering the lifetime allowance to £1m from £1.25m.
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News
Recycled annuities could offer income for DB, but buyer beware
Alongside Wednesday’s Budget, the government will launch a consultation on the viability of a secondary market to allow pensioners to cash in their annuities, but questions remain over who would buy them.
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Opinion
Ready or not: pensions administration post-April 2015
The 2014 Budget rewrote the rule book on retirement benefits, ushering in massively expanded flexibility for defined contribution members, while simultaneously throwing down some fairly significant challenges for scheme administrators.
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Opinion
How to battle pensions liberation in the new DC environment
Liberation scams are a growing tumour on the pensions industry, offering scheme members access to their money early at the cost of large swaths of their pension pot, or possibly the lot.
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Features
Can a scheme rebrand reignite member engagement?
Any other business: The ongoing pension reforms inevitably have pushed schemes to reevaluate how they engage with members and update their communication materials.
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News
How DC savers feel about their retirement options
Most over-55s would prefer a secure guaranteed income for life over all other retirement options, a survey has found, prompting calls for the government’s guidance guarantee to cater to this preference.
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Opinion
Five objectives and five risks for DC
Before the 2014 Budget, investment objectives for defined contribution schemes were relatively straightforward.
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News
Nest, M&S and Kingfisher in 2014's top post-Budget case studies
The chancellor's 2014 Budget in March sparked off a year of almost unprecedented change in pensions, seeing an immediate response from some employers on providing retirement flexibility.
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NewsM&S weighs drawdown option for mastertrust members
Retailer Marks & Spencer is exploring offering drawdown to its defined contribution scheme members, as the industry readies itself for April's retirement flexibilities in a tough market for annuities.
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Opinion
Altmann: 2015 set to be another big year for pensions
After the stunning revolution in pensions during 2014, the implementation of many of the new freedoms and flexibilities will begin during 2015.
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News
Webb defends 'revolutionary' CDC legacy against industry critics
Pensions minister Steve Webb told an industry event this week the “pendulum is going to swing back” from individual defined contribution pension provision, but delegates challenged the viability of risk-sharing schemes.
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News
Consultants report evidence of Osborne boost to DB-DC transfers
Consultants have reported an increase in the number of defined benefit to defined contribution transfer requests from scheme members following George Osborne's announcement of greater retirement flexibility in the March Budget.
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OpinionEditorial: Just around the corner
The level of calm within a given pensions department ahead of the advent of the new pension freedoms is probably related to how well you know your scheme membership.
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Opinion
What you need to know from this week's pensions headlines
It has been another couple of days of announcements in the ever-changing world of pensions.
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Opinion
The pros and cons of offering drawdown to your members
'Pensions freedom' as announced in the Budget provides defined contribution members with full flexibility and choice over their retirement income from next April.
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Opinion
How to use your DGF in a post-Budget environment
Kevin Frisby from LCP, JLT Investment Consulting's Allan Lindsay, Axa IM's Yoram Lustig, HR Trustees' Giles Payne, Aon Hewitt's Ryan Taylor and Bruce White of LGIM discuss how schemes can invest in DGFs in the post-Budget environment, in the final instalment of a four-part panel discussion.
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OpinionEditorial: Don't spend it all at once
The debate rumbles on. Will the annuity make the best comeback since Lazarus? What should we make of this grand shove into drawdown?
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Opinion
NAPF: Time to take stock
It has been an exciting and demanding year for pensions and we are only just out of summer.
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News
How scrapping 55% 'death tax' could affect your DB scheme
Consultants have again predicted greater interest in transfers out of defined benefit schemes following the proposed removal of inheritance tax on pension pots, while others doubted the changes would have much impact.
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News
Budget flexibilities fail to spur DB transfer interest
Predictions that the Budget flexibilities would lure members out of defined benefit pension schemes have so far proved unfounded, as data show no uplift in the proportion requesting transfer value quotations.