All Defined contribution articles – Page 20
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NewsRules to remove DC charge cap fees due in the new year
The government will lay regulations to remove fees from the defined contribution charge cap early next year, one of a number of pensions-related proposals included in the reforms aimed at improving the competitiveness of the UK’s financial services sector.
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NewsRailpen leads bondholder stewardship group
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including the launch of a new bondholders’ stewardship working group, the adoption of a formal ESG policy by BlackRock’s LifePath UK DC investment strategy, and a new global standard for stewardship resourcing.
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NewsMore than 8.6mn missing out on workplace pension savings
On the go: More than 8.6mn people from “underpensioned” groups are missing out on workplace pension savings, according to a report by Now Pensions.
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NewsSheffield manufacturer fined over missing contributions
The Pensions Ombudsman has ordered Sheffield manufacturer M&G Olympic Products to compensate two former employees – whom the company had made redundant – over missing pension contributions.
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NewsFCA bans third-party dashboard consumer charges
The Financial Conduct Authority will prohibit third parties from charging customers for services linked to pensions dashboards as part of its regulatory framework for the initiative.
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NewsOne third of self-employed trial Nest members have ‘zero pots’
On the go: Around a third of self-employed Nest members in a Nest Insight savings trial have never made a contribution to their pension pot.
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NewsRetirement standards compromised by changes in pensions system
On the go: Changes made to the UK pensions system are positive for sustainability but are leaving savers’ retirement standards compromised.
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NewsNest plans boardroom overhaul in diversity drive
Nest is recruiting for three new non-executive directors as it attempts to improve the diversity of its board, the master trust’s chair has told Pensions Expert.
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NewsValue over cost emphasised in new DC illiquid investment guides
On the go: Defined contribution scheme trustees are being encouraged to shift their focus on illiquid investments from cost to value, in a series of guides published by the Productive Finance Working Group.
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NewsTPR threatens £50,000 fines for dashboards non-compliance
The Pensions Regulator will impose fines of up to £50,000 for non-compliance over pensions dashboards.
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NewsPension savers lose £1.7bn on retirement transition
On the go: Workplace pension scheme members are losing around £1.7bn a year during their transition into and in retirement, according to new research from master trust HSBC Tomorrow.
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FeaturesWhy do savers continue to misunderstand their pensions?
Analysis: The pensions industry spends extensively on member communications, but 48 per cent of employees do not know how much their employer is paying into their pension, according to a survey by The People’s Pension.
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NewsProviders called to improve DC decumulation digital tools
On the go: Providers of defined contribution schemes need to “vastly improve” their digital offers so members can make the right choices in decumulation, warns Hymans Robertson.
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NewsAccreditation scheme launched to tackle lagging switching times
On the go: A new accreditation scheme has been launched to tackle the amount of time it takes to switch savings, investments and pensions between providers.
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NewsIA cracks down on exec pensions misalignment with workforce
On the go: The Investment Association is increasing its crackdown on FTSE companies where executive pension contributions are not aligned to most of the workforce, according to its latest annual pay guidelines for FTSE companies.
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NewsRoyal Mail CDC scheme to increase annual payroll costs by £30mn
Royal Mail’s new collective defined contribution scheme is anticipated to increase its annual cash payroll costs by around £30mn, its half-year accounts have disclosed.
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NewsSingle mothers face £246,000 pension shortfall
Single mothers in the UK are facing a £246,000 shortfall in their pension pots compared with the average couple, and this is being further exacerbated by rising inflation and falling wages
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NewsThree-quarters of asset managers yet to set climate transition targets
On the go: Seventy-three per cent of asset managers surveyed by consultancy Mercer have yet to set climate transition targets — such as goals on achieving net zero — across their strategies.
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NewsCivil servants vote for strike over pensions
On the go: Civil servants have voted to strike with the highest level of support for industrial action in the Public and Commercial Services Union’s history, in a dispute that includes pensions.