All Defined contribution articles – Page 27
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NewsGender pensions gap is present in every UK industry
On the go: Every industry in the UK has a gender pensions gap, including those dominated by female workers, according to new research. Legal & General also confirmed that women can expect a pension pot that is half the size of men’s pots, regardless of their industry.
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NewsOmbudsman orders employer to rectify incorrect contributions
On the go: The Pensions Ombudsman has ordered an employer to pay contributions into an employee’s Nest pension, more than three years after deductions had been made from his pay.
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NewsFCA proposes long-term asset fund and illiquid investment reforms
The Financial Conduct Authority is set to broaden the distribution of long-term asset funds within the pensions sector to self-select options and will push ahead with plans to lift the 35 per cent illiquid investment cap.
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NewsPASA encourages additional checks for dashboards ‘value data’
On the go: The Pensions Administration Standards Association has issued guidance on ‘value data’ for pension dashboards, advising providers that this “complex” area of the dashboard programme will require additional backend calculations and preparedness.
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NewsCollective defined contribution schemes launch in Great Britain
On the go: Providers in Great Britain are now able to apply to launch collective defined contribution schemes, a development hailed by pensions minister Guy Opperman for its potential to “transform the UK pensions landscape”.
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NewsContributions must double to fund some ‘living pensions’, report finds
On the go: Some savers’ pension contributions will need to sit at slightly more than double the current minimum automatic enrolment threshold in order for them to have a “living pension”, according to new research.
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OpinionPensions dashboards will require a consumer protection regime
A couple of pre-summer recess publications have made the pensions dashboards picture clearer.
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NewsBW’s Sara Cook elected president of the Pensions Management Institute
On the go: The Pensions Management Institute has appointed Barnett Waddingham principal Sara Cook as its president.
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NewsPPF to cover costs of scheme Fraud Compensation Fund claims
The Department for Work and Pensions is consulting on regulatory amendments that would allow the Pension Protection Fund to make interim payments to cover scheme fees and costs during Fraud Compensation Fund claims, and remove a loophole regarding child dependants.
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NewsEvri auto-enrols couriers with Smart Pension
On the go: Parcel delivery service Evri has appointed Smart Pension to provide workplace pensions for more than 12,000 “self-employed plus” couriers.
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NewsNew proposals set DB schemes on path to ‘low dependency’
Defined benefit pension schemes will need to be funded in such a way that they are in a state of “low dependency” on their sponsoring employer by the time they are significantly mature, under new government proposals.
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NewsUSS annual report shows significant improvement but angers unions
The significant improvement in the Universities Superannuation Scheme’s funding position and resilience has angered the University and College Union, which argued that benefit cuts implemented in April were “totally unnecessary” in light of the scheme’s strength.
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NewsTPT Retirement Solutions makes £75mn impact investment
On the go: The £13.6bn TPT Retirement Solutions, which has £11.3bn in defined benefit assets and £2.3bn in defined contribution assets, has made a circa £75mn impact investment through its DC master trust default fund.
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NewsPFA pushes for women’s football pension scheme
On the go: The Professional Footballers’ Association is campaigning for a new pension mechanism for women footballers, which would be similar to an arrangement for their male counterparts that is funded by a levy on transfer fees.
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NewsClearGlass: Passive ESG funds provide value for money
On the go: Passive environmental, social and governance funds are cheaper and outperform their non-ESG equivalents, representing value for money, according to a study by ClearGlass Research.
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NewsPension savers prioritise returns over ‘investment big bang’
On the go: Less than a fifth of pension savers think that investing their pensions in companies or assets that would benefit their local area should be prioritised, new research has revealed.
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NewsTwo-fifths of fiduciary managers do not actively influence voting
On the go: Forty-two per cent of fiduciary managers do not actively influence the voting activities of underlying assets or managers when looking at environmental, social and governance issues, new research has revealed.
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NewsDB goliaths call for AVCs stronger nudge exemption
Seven defined benefit schemes with £217bn in assets have asked for Work and Pensions committee intervention due to concerns regarding ‘stronger nudge’ requirements, which they believe are not fit for purpose.
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NewsGovernment urged to allow Nest to offer drawdown
The government has been told to amend legislation to allow Nest members to drawdown their pension pot, as well as extending investment pathways to trust-based schemes — requests made as part of a response to its call for evidence on savers’ understanding of their pensions.