All Defined contribution articles – Page 55
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News
PensionBee valued at £346m ahead of IPO
On the go: Consolidator PensionBee could be valued at between £346m and £384m when it floats on the London Stock Exchange.
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NewsBridging pension option smooths Rolls-Royce scheme restructure
The introduction of a bridging pension option in the Rolls-Royce UK Pension Fund has helped smooth the transition for its members following a scheme restructure announced in May 2020.
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Calls for government to review minimum pension age hike
On the go: Wealth manager Quilter has called on the government to reverse proposals to raise the normal minimum pension age to 57, saying the move is complex and will do little for people’s retirements.
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News
Opperman warns on pension scams rise in new tax year
On the go: Pensions minister Guy Opperman has warned savers to be vigilant when reviewing their retirement plans to avoid being caught out by pension scammers operating online.
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News
Independent schools’ TPS phased withdrawal to start in August
On the go: Independent schools will be allowed to gradually phase out their participation in the Teachers’ Pension Scheme, with the new regulations coming into force in August.
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NewsUUK consults on way out of USS valuation wrangle
Universities UK, the employer group representing 340 Universities Superannuation Scheme employers, has opened a consultation on a range of measures intended to settle the long-running feud over the 2020 USS valuation.
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NewsTPR to beef up schemes’ climate change disclosure demands
The Pensions Regulator will demand that trustees add more climate change information to their scheme returns, and has promised enforcement action where pension funds do not comply with basic requirements.
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Experts dismiss national pension fund proposal
Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.
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News
PASA rejects single provider approach to dashboards digital identity
On the go: The Pensions Administration Standards Association has objected to the proposal by the Pensions Dashboards Programme for a “central digital identity”, arguing that it would create a “single point of failure”.
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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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Schemes to pay maximum fraud compensation levy
On the go: The Pension Protection Fund has announced it will raise the fraud compensation levy to the maximum allowed by law as the number of claims rise.
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News
Mercer and L&G to target net-zero, Aviva launches equity fund
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with Mercer and Legal & General reducing carbon emissions, and Aviva’s new equity fund launch.
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News
Self-employed missing out on £4bn pension contributions
On the go: Some 4.3m self-employed individuals are missing out on £4bn in employer pension contributions a year, according to new research.
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News
Third of schemes had data breaches in the past year
On the go: One-third of pension schemes have had their data breached in the past 12 months, according to new research.
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News
PensionBee targets £55m capital raise as IPO plans confirmed
On the go: PensionBee is aiming to raise £55m through issuing new shares, as the pension provider confirms its intention to list on the London Stock Exchange.
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News
Pandemic dampens DC membership growth in 2020
On the go: The increase in defined contribution members slowed to 11 per cent in 2020 as a result of the pandemic, compared with 17 per cent in the previous year, according to data from the Pensions Regulator.
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News
Pension contributions bounce back following first lockdown
On the go: Employee contributions to defined contribution schemes jumped by 12 per cent after parts of the economy were restarted following the UK’s first lockdown, new data has revealed.
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OpinionSystemic issues won't be addressed until regulator thinks systemically
The Pensions Regulator’s recently launched consultation on a new consolidated code of practice asks trustees to “identify and account for the systemic risk of climate change in decisions made about the scheme’s investment and funding”.
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News
Women have up to 45% less income at retirement than men
On the go: Women have 25 to 45 per cent less in their pension pots at retirement than men, according to new research.
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News
Pension schemes urged to raise alarm over scams
On the go: Pension schemes are being urged to raise the alarm over scams following a concerning long-term drop in reporting.