All Contributions articles – Page 5
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NewsAlmost one in 10 cut contributions amid cost of living crisis
On the go: Almost one in 10 people (7 per cent) are planning to reduce their workplace pension contributions as the cost of living crisis continues to escalate, according to research from Barnett Waddingham.
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NewsExpected living standards from DC savings rise
On the go: The expected future living standards provided by defined contribution pension savings were higher at the end of the first quarter of 2022 than at the close of last year, Aon’s DC tracker has revealed.
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NewsLGPS escapes McCloud cost-cap breach
On the go: The Local Government Pension Scheme in England and Wales, alongside its Scottish and Northern Irish equivalents, has avoided the cost-cap breach suffered by a number of other public sector schemes resulting from the impact of the McCloud remedy cost on their 2016 valuations.
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NewsOpperman: Employers should provide ‘rainy-day fund’ to keep staff
Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff.
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NewsAE levels out as employers seek change to age threshold
Workplace pension participation is stalling after reaching a rate of 88 per cent of eligible employees last year, according to new figures from the Department for Work and Pensions.
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NewsB&CE and building company botch pensions complaint
The Pensions Ombudsman has ordered B&CE and a building company to compensate an individual, after the employer failed to pay a year’s worth of contributions to his pension and took an excessive amount of time to deal with the complaint.
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NewsABI calls for 12% auto-enrolment minimum contributions by 2031
The Association of British Insurers has called on the government to increase minimum auto-enrolment contributions to 12 per cent by 2031.
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NewsDe La Rue agrees £320mn buy-in
On the go: The £988.7mn De La Rue Pension Scheme has agreed a £320mn buy-in with insurer Scottish Widows.
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NewsFirstGroup ends deficit payments and expects £117mn return
On the go: Transport operator FirstGroup does not expect to make any further contributions towards its defined benefit pension schemes, after asset sales helped push the schemes into net surplus.
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NewsUSS plans funding review as deficit drops to £1.6bn
The £88.8bn Universities Superannuation Scheme has teased the possibility of increasing benefits and cutting contributions, after its latest review revealed a markedly improved funding position.
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NewsAegon and LCP criticise ‘damaging’ FRC dashboard proposals
Aegon and LCP have issued stern rebukes of the Financial Reporting Council’s proposals for calculating pensions projections for the dashboards, with Aegon arguing that the FRC’s preferred methodology would “damage the whole intention behind dashboards”.
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NewsDisabled savers’ pension wealth is just 36% of UK average
On the go: Auto-enrolment is excluding disabled savers, leaving them with pension wealth of just 36 per cent of the average UK saver, according to new research from Now Pensions.
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NewsPLSA’s retirement living standards now cover 35mn members
On the go: Pension scheme communications from more than 100 organisations now provide up to 35mn members with access to the Pensions and Lifetime Savings Association’s retirement living standards, the industry body has announced.
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NewsBT slashes pensions deficit by £4bn in one year
On the go: BT has cut its defined benefit pensions deficit by £4bn in the year to March 31 2022, a fall partly attributed to a higher discount rate due to increased yields.
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NewsITV hit with £133mn warning notice by TPR
The Pensions Regulator has slapped a £133mn warning notice on broadcaster ITV after it failed to provide adequate support to the Box Clever pension scheme by the regulator’s deadline.
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NewsMorrisons promises to protect McColl’s pensions in takeover
On the go: Supermarket chain Morrisons has prevailed in the bidding war for troubled retailer McColl’s, beating a rival bid from EG Group. The acquisition will reportedly uphold all promises made to McColl’s pension schemes.
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NewsMcCloud sees more public sector schemes breach cost-cap ceiling
Three more public sector schemes have breached the cost-control mechanism as a result of the McCloud remedy, the Government Actuary’s Department has confirmed.
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NewsTPR in-person visits return after lifting of Covid-19 rules
On the go: The Pensions Regulator has said it is carrying out in-person spot checks on employers in a compliance push that has been enabled by the relaxation of coronavirus restrictions earlier this year.
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NewsNest Insight sidecar savings take-up lags interest
On the go: Ninety-eight per cent of people who think Nest Insight’s sidecar savings product would help them have not signed up to use it, the research unit has admitted.
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NewsOne in three employees want paid-for adviser pensions consultations
On the go: Nearly a third of employees believe they are being kept in the dark over their pensions by their employers, while a similar amount (28 per cent) want their employers to pay for meetings with advisers to discuss their concerns about their retirement savings.