All Defined contribution articles – Page 18
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OpinionAlmost two decades on: The evolution of the PPF
The story of how the Pension Protection Fund was established in 2005, and how we have evolved since has been covered by Pensions Expert over the best part of the past two decades. So now seems like an apt time to reflect on how our story began, how far we have come since, and to look to the future.
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NewsRising costs of retirement income not necessarily all bad news
The cost of meeting the minimum standard of the Pensions and Lifetime Savings Association’s retirement living standards increased by almost a fifth (18 per cent), or nearly £1,900 in 2022, according to the Aon UK DC Pension Tracker.
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NewsGulf of inequality: Little progress on women’s pensions gap
New data from HM Revenue & Customs, released on March 8, leaves little to celebrate on International Women’s Day, as it clearly shows that women are still earning considerably less than men at every stage of life.
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OpinionPlenty of work for schemes to do, despite dashboards delay
The latest data from the Pensions Regulator shows that there are 28,360 defined contribution schemes with £87.5bn worth of assets.
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NewsNew PPI report backs alternatives for DC investment strategies
Alternative assets may have a greater role in defined contribution strategies, offering both greater diversification and a hedge for volatility in public markets, according to a new report.
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NewsGovernment says 12.5mn people are under-saving for retirement
The Department for Work and Pensions has said that 12.5mn people are under-saving for retirement, prompting providers to call for further pension reforms.
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NewsLatest dashboards delay is catastrophic for consumers
The latest delay to the Pensions Dashboards Programme announced at the end of last week was met with many shows of good grace – and perhaps schadenfreude – from certain parts of the pensions industry.
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NewsPensions minister delays dashboards and resets plan
Pensions minister Laura Trott has delayed the implementation of the long-awaited pensions dashboards, causing consternation for pension advisers and consultants.
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NewsCost of living crisis is compounded by apathy in the workplace
The cost of living crisis has raised concerns among pension schemes that some members may choose to abandon their pensions in order to boost their take-home pay.
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NewsPensions admin: No longer the Cinderella function
Pensions administration is often considered a sleepy backwater for technical pensions nerds, but its time has come, and 2023 is going to be the year of the administrator.
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NewsGovernment incentive plans are focused on wrong groups of workers
Government efforts to boost Britain’s economic activity should focus on supporting more mothers into work and helping older workers and those with a disability stay in work, not those who have already retired, according to new research published by the Resolution Foundation.
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NewsCalls for MPAA to be raised may overlook root of economic inactivity
The government has called on older people to re-enter the labour market to help boost economic activity, but has this generation been disincentivised by the very regulations designed to give them greater freedom and choice over accessing their pensions?
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NewsDashboard consultation: missed opportunities and a lack of clarity
The closure of the joint consultations on the long-awaited pensions dashboard have raised concerns about timing and the direction of both organisations running the show.
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NewsTPR lead reviewer appointed
The Department for Work and Pensions has announced the appointment of Mary Starks to lead a review of the Pensions Regulator.
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NewsRegulators fear savers will make ‘wrong decision’ with pensions info
On the go: The Financial Conduct Authority and the Pensions Regulator are worried that giving savers information about how their pension schemes are performing may lead to them making “the wrong decision”.
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NewsFRC dashboards standard to remain unaltered until 2024
On the go: Dashboard projected assumptions, which came into force last year, will remain unaltered until March 2024, the Financial Reporting Council has announced.
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NewsTrott: Underperforming schemes to ‘improve, consolidate or exit’
Pensions minister Laura Trott has said pension schemes that are underperforming will need to act and either “improve, consolidate or exit the market”.
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NewsDWP narrows down small pots solution to two options
The Department for Work and Pensions has narrowed down the solution to the small pots issue to either the creation of default consolidators or the introduction of pot-follows-member legislation.
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NewsPension schemes to disclose performance under VfM rules
Pensions schemes will be required to disclose investment performance, net of all costs, as part of the new value for money framework.
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NewsGovernment explores CDC decumulation schemes
On the go: The Department for Work and Pensions is exploring whether it could introduce legislation for decumulation-only collective defined contribution schemes, since these could help “improve member choice and outcomes”.