All Defined contribution articles – Page 62
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News
Aviva pushes for net-zero target in AE default funds
On the go: Aviva is calling on the government to amend the pension schemes bill to make it mandatory for all auto-enrolment default funds to achieve net-zero carbon emissions status by 2050.
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Features
Small pots: Experts scorn idea of a pension for life
Data crunch: Experts have decried the radical solution to the small pots’ crisis, a pension for life, despite the threat that sub-scale funds could overwhelm the UK system.
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News
CDC pensions ‘would be 70% higher’ than traditional DC
On the go: A new guide published by Willis Towers Watson estimates that collective defined contribution pensions would be on average 70 per cent higher than traditional defined contribution, and 40 per cent higher than typical defined benefit schemes.
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News
TPR warns trustees ‘can’t duck’ from climate change
On the go: As new reporting requirements on environmental, social and governance considerations come into force, the Pensions Regulator has warned trustees to build capacity in this area as climate change is a fundamental consideration for schemes.
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News
Over-50s alter retirement plans in response to Covid-19
On the go: One in eight older workers have changed their retirement plans due to the coronavirus, according to the Institute for Fiscal Studies, which warned that a third are now in a worse financial situation than they were in before.
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News
Tisa backs AE pause for strapped low earners but no respite for employers
Analysis: Pensions policy experts are split over whether the government should begin to ramp up automatic enrolment contributions with an ‘opt-down’ for low earners, after recent calls to reform the landmark pensions policy.
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News
New job support scheme risks increasing AE confusion
On the go: The new job support scheme announced by the government on Thursday will increase the risk of employers miscalculating pension contributions for employees, a law firm has warned.
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PodcastsPodcast: Arguments for DC consolidation stronger than for DB
Podcast: The pace of defined contribution consolidation could accelerate on the other side of the coronavirus pandemic, but mergers are a less obvious boon for define benefit, say Squire Patton Boggs partner Kirsty Bartlett and Hadassah Shulman, senior associate at Taylor Wessing.
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News
DWP launches working group to tackle small pots problem
On the go: The Department for Work and Pensions has launched a working group in collaboration with industry to propose solutions to the challenges posed by small pots.
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News
Govt consults on auto-enrolment tests for DB and hybrid schemes
On the go: The Department for Work and Pensions is questioning whether the current alternative tests used by defined benefit and hybrid schemes for auto-enrolment suitability are fit for purpose.
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News
TPR’s new guidance on mandatory AE reporting causes confusion
Updated guidance from the Pensions Regulator will see the 90-day limit for reporting late payments becoming mandatory from April 2021. However, the wording of the guidance has caused some confusion, with schemes being asked to make the adjustment for January 1.
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News
Nest and DWP to analyse Covid-19 impact on self-employed savers
On the go: The government-backed master trust is to examine the financial impact of Covid-19 on self-employed people, with the pandemic delaying its practical tests expected this year.
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News
Covid-19 sees schools pull out of Teachers’ Pension Scheme
On the go: Covid-19 has prompted a number of private schools opt out of the Teachers’ Pension Scheme as they look to avoid a significant hike in contributions.
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News
Mercer launches DB master trust as demand for consolidation increases
Mercer has launched a new defined benefit master trust promising sponsors enhanced governance and economies of scale, amid an accelerating trend towards consolidation and outsourced solutions, with pensions minister Guy Opperman stating that “bigger is better”.
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News
Scottish Widows snares top hire from Legal & General
Veteran professional David Butcher has just taken on a new dual role as a member of the master trust board and independent governance committee at Scottish Widows, moving from Legal & General’s master trust board.
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News
Calls for govt to rethink auto-enrolment contributions
On the go: Wealth manager Quilter is urging the government to allow low earners who opt out of auto-enrolment to still receive their employer pension contributions.
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News
Smaller schemes to prove value for members or face consolidation
Defined contribution schemes with assets below £100m will have to prove their value for members, or face being advised to wind up or consolidate, according to new rules proposed by the Department for Work and Pensions.
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News
LCP: ‘Pot-follows-member’ could solve small pots problem
On the go: The government has been urged to look again at a ‘pot-follows-member’ solution to the small pots problem plaguing auto-enrolment and master trusts.
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News
Half of pension transfers trigger scam warnings
On the go: More than half of pension transfers carried out post-lockdown have flagged scam warnings, research from XPS Pensions has shown.
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News
Timms: Change in law needed to combat scams
On the go: Work and Pensions Committee chair Stephen Timms has warned changes in the law will be needed in order to tackle the growing issue of pension scams.