All Costs and charges articles – Page 11
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NewsWR Swann pension scheme appoints fiduciary manager
On the go: The £40m defined benefit scheme for WR Swann, part of Swann-Morton, a Sheffield-based manufacturer of surgical equipment, has appointed Aon as its fiduciary manager.
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OpinionInvestment oversight – trustees should ‘mind the gap’
IC Select managing director Peter Dorward outlines how trustees need to increase the oversight of their investment consultants and fiduciary managers in a way to comply with new regulations.
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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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OpinionThe defined benefit trustee cost challenge
Isio director Iain McLellan details how defined benefit scheme trustees should spend their increasingly constricted budgets to ensure good governance, and why sponsors should invest in their own scheme’s trustee board.
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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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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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PodcastsPodcast: Illiquids not necessarily the answer for DC
Podcast: Illiquid asset classes might seem attractive in theory, but there would be difficulties establishing them in a defined contribution pension portfolio, even if all the regulatory burdens were removed. Brian Henderson, partner and director of consulting at Mercer, is joined by Shola Salako, professional trustee at Dalriada, to discuss alternatives, putting the S in ESG, and fixing the problems with chair’s statements.
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FeaturesDC charges: Are fiduciaries too fixated on cost?
DC charges: Are fiduciariestoo fixated on cost?Data crunch: Scheme sponsors are thinking of 'value' as more than a low-cost option for savers and are taking a more balanced approach when selecting providersEnterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed ...
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NewsHundreds of schemes to benefit as PPF updates actuarial assumptions
On the go: Almost 300 schemes could see their deficits transformed into surpluses after the Pension Protection Fund announced its decision to press ahead with changes to actuarial assumptions.
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NewsDWP admits DC chair’s statements fail policy objective
The Department for Work and Pensions has acknowledged that the introduction of chair’s statements has failed to meet the policy objectives set out by the department in 2014.
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News
Actuaries call for simplified pensions tax system
On the go: The Association of Consulting Actuaries has leant its voice to those calling for a simplified pensions tax system, but cautioned that any changes must be “realistic, manageable and proportionate”.
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NewsLGPS Central launches £680m Multi-asset Credit Fund
On the go: LGPS Central, which manages around £23bn of assets for eight Local Government Pension Scheme funds worth a collective £45bn, has launched a £680m Multi-Asset Credit Fund.
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News
Nest looks to allocate 5% of assets to private equity
On the go: Government-backed master trust Nest is looking to work with private equity managers who are prepared to cut fees in return for a regular capital stream from the UK’s largest workplace pension scheme.
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News
Brunel Pension Partnership reduces costs by £34bn
On the go: The Brunel Pension Partnership has published its annual report highlighting the cost saving incurred and the increased opportunities for stewardship, diversification and climate analysis for its members.
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DWP consults on removing charge cap DC investment barrier
On the go: The Department for Work and Pensions on Friday opened a consultation into whether the charge cap acts as a barrier to defined contribution scheme investments in a range of alternatives, such as venture capital, illiquids and growth assets.
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PodcastsPodcast: Uber decision poses challenges for master trust sector
Podcast: For master trusts, onboarding gig economy workers who could be entitled to a pension following the Supreme Court’s Uber verdict is not as simple as it may sound. Hymans Robertson’s Patrick Bloomfield, partner, and senior DC investment consultant Victoria Panormo unpack the problem, in an episode also covering the Pensions Regulator’s draft criminal powers policy, and the Department for Work and Pensions’ climate risk consultation.
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News
FCA rules could hit DB transfer market winners hard
On the go: More than a third (37.5 per cent) of the defined benefit transfer market was advised by just three firms in 2020, as St James’s Place, Royal London and AJ Bell increased their market share “dramatically”, according to a report from LCP.
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Opperman: Charge cap has room for illiquid investments
On the go: The pensions minister has suggested that defined contribution schemes currently have room to invest in illiquids within the charge cap.
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NewsLPPA embarks on data journey and reaps rewards of digital tracing
Case study: A renewed effort to ramp up digital tracing and mortality screening has been a boon to the Local Pensions Partnership Administration, with the exercise having the potential to cut costs, save time and improve actuarial valuations.
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News
McCloud £17.5bn cost could be an underestimate
On the go: The Office for Budget Responsibility has said its current estimate of the cost of the McCloud remedy could be an understatement, since different remedies for the discrimination case could increase the projected spending.