All Defined contribution articles – Page 114
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Opinion
Why the UK's standing in the European pensions market is so important
Looking across Europe is a thankless task in the pensions world, because the black and white pensions categorisation that works in the US and UK – defined contribution, defined benefit or final salary – does not work at all well in continental Europe.
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NewsScapa saves £600k through flexible retirement exercise
Adhesive tape manufacturer Scapa Group has saved around £600,000 by offering flexible retirement options to some deferred members of its defined benefit scheme, clearing more than £10m of liabilities.
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OpinionAnnuities are not dead they're just sleeping
From the blog: Surveys indicate a significant majority of defined contribution members want steady income in retirement, but just never call it an annuity. So how will they achieve that?
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OpinionDB-DC transfers are not always a bad idea
Transfers from defined benefit to defined contribution schemes are increasingly common because DC allows members to access savings and low gilt yields have put a high capital value on DB pensions – both factors that can work in members’ favour.
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OpinionGuidance should be the 'aperitif' of the wider advice process
Good guidance around the point of retirement will not be enough to ensure individuals manage the shape of their income in later life effectively, industry commentators have said.
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News
What to do if your DC sponsor goes bust
Defined contribution trustees must respond quickly when scheme sponsors go into administration, particularly in scenarios where financial distress has delayed payment of contributions into the safe haven of a scheme.
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OpinionWhy employers should facilitate a drawdown route for employees
From the blog: Since the pension reforms were introduced in April 2015, retirement is being talked about more than ever before. This is mainly because these laws will affect almost every employee and employer.
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NewsRBS banks on preferred provider for drawdown
Royal Bank of Scotland’s defined contribution scheme is exploring the addition of a drawdown option via an external provider to enable a seamless transition into retirement for its members.
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News
Knowledge sets the bar in regulator's draft DC code
The Pensions Regulator is basing its leaner draft code of practice for trustees of defined contribution schemes on 'knowledge and understanding' requirements, which will mark out those in need of further training.
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Opinion
DC design: Six graphs on employers' direction of travel
From the blog: It’s time to turn words into action. While schemes have been extolling the feted ‘better member outcomes’, little movement is taking place to turn hopes and dreams into components of success.
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Opinion
DC Debate: Autumn Statement, VfM and governance
In this final quarterly DC Debate of the year, our seven panel members discuss the speed at which DC reviews are being carried out, the effectiveness of IGCs, value for money in the real world and Autumn Statement predictions.
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News
Auto-enrolment pause button 'unhelpful' for momentum
An "emergency pause" could be triggered if auto-enrolment frameworks become overwhelmed by surging demand, but industry commentators say the government’s contingency plan “damages the momentum” behind the rollout of the initiative.
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NewsM&S completes re-enrolment, experts warn of governance risks
Marks & Spencer Pension Scheme has successfully completed re-enrolment, having reached the three-year staging anniversary, but experts say schemes should review their processes to avoid tripping over nuances in the rules.
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OpinionPMI: Drawdown needs minimum income floor to avoid depleted pots
Talking Head: One of the first acts of the coalition government in 2010 was to reform the pension drawdown rules.
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News
Shared pain, shared gain: Will risk-sharing get its day in the sun?
News Analysis: Collective defined contribution schemes have been put on ice by the pensions minister though the idea could come back on the agenda in the future. But are UK employers ready for risk-sharing?
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Opinion
How does the use of DGFs differ between DB and DC portfolios?
Roundtable: Aberdeen Asset Management’s Mike Brooks, Aon’s James Monk, Buck Consultants’ Nick Ridgway, Capital Cranfield’s Jonathan Reynolds, LCP’s Kevin Frisby and PTL’s David Hosford, review how DB and DC schemes use DGFs in different ways, in the second part of this roundtable.
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News
Annuity demand expected to resurge
Annuity sales will increase from this year despite the new pension flexibilities, as retirees recognise their need for a level of certainty in retirement, new research has suggested.
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News
Trustees and IGCs gifted with new tools to aid DC reporting
Trustees and committees overseeing defined contribution arrangements have been thrown a line with new reporting templates to help them meet their governance obligations, but some argue a comparative framework could further strengthen the assessment of value in DC.
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Opinion
Data crunch: Annuities market being reshaped, not destroyed
Providers are in talks with the Treasury over how to advance plans for a secondary annuities market.
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NewsTrinity Mirror reviews advisers ahead of DC default appraisal
Trinity Mirror Pension Plan has carried out a consultant review ahead of an appraisal of its defined contribution default fund, spurred by the introduction of the freedom and choice reforms.