All Defined contribution articles – Page 94
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NewsRegulation could increase after Brexit, experts say
Brexit could lead to more rather than less pensions regulation, while radical revisions to tax relief might be needed to keep low earners enrolled in the pensions system, according to a panel of policy experts.
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DWP changes DC cost disclosure rules
On the go: The Department for Work and Pensions has made a number of changes to disclosure rules relating to costs and investments in defined contribution workplace schemes.
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TUC cautions over ‘pensions lottery’
The Trades Union Congress has today said that workers face a “pensions lottery” upon retirement.
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Select committee hearing shows deep divide over CDC
Collective defined contribution could dramatically uplift the final values enjoyed by UK pension savers, a parliamentary select committee has heard, but some experts still doubt its compatibility with pension freedoms and performance in market crashes.
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NewsUniversity of Oxford learns hard lesson with Care closure
The University of Oxford has introduced a defined contribution scheme for new joiners and is making a number of other changes to reduce costs as universities are waking up to their pension deficits. One expert called the education sector ‘a disaster’ in pension terms.
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Third of adults miss most obvious scams
Close to a third of adults missed the most obvious pension scams in a survey testing people's understanding of fraudsters' tricks, and 79 per cent said stricter rules and checks are needed to protect savers.
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IGC reporting fails to identify value for money
Independent governance committees are failing to adequately report the value for money represented by their respective providers, according to a new report ranking the committees on scrutiny and transparency.
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Features
RLB tech engagement drive yields positive results
Quantity surveyor Rider Levett Bucknall has seen a marked increase in staff engagement with their pensions after it introduced an app for savers to view their pension savings and offered face-to-face meetings with experts.
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DWP response on scams and guidance 'light on details'
The Department for Work and Pensions has said it will "continue to work swiftly" to bring in a cold-calling ban, but commentators have warned more needs to be done to protect vulnerable savers.
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Auto-enrolment passes 1m employers
More than 1m employers have now enrolled their staff into a workplace pension, according to figures compiled by the Pensions Regulator.
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Trinity Mirror commits to Northern & Shell schemes
Trinity Mirror has announced the acquisition of Northern & Shell's publishing assets for a total purchase price of £126.7m. The buyer has agreed measures to support its acquisition’s pension schemes.
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Features
It is time to take scheme administration more seriously
Analysis: The nuclear fallout from the demise of Carillion and the continued woes of Capita have dominated news bulletins in recent weeks.
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NewsCombined Nuclear picks TDFs for flexibility
The trustees of the industry-wide Combined Nuclear Pension Plan have added target date funds to its defined contribution scheme, having put the move on hold when the pension freedoms were first announced.
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Govt ignores self-employed pensions in gig economy crack-down
The government is seeking to address concerns over working conditions in the so-called 'gig economy' by giving workers more protections and greater clarity around their rights, but has failed to address the issue of pension saving among the self-employed, according to industry commentators.
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Dow Chemical opts for multi-country DC provision
Multinational Dow Chemical is moving its defined contribution plans in the UK and the Netherlands to an international DC solution.
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Now Pensions fined £70k for admin failings
The Pensions Regulator has fined the trustee and trust manager of Now Pensions in relation to persistent administration failures, and has given the embattled mastertrust until July to fix all of its issues.
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BT to close DB managers’ scheme
BT is to close its defined benefit BT Pension Scheme to managers for future accrual on May 31 2018.
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UK assets up but savers still look to bricks and mortar
UK occupational pension assets grew 16.9 per cent over 2017 to cement Britain’s position as the second-largest market in the world, but concerning trends in saver attitudes suggest market returns may be masking fundamental problems.
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NewsNissan defies carmaker trend towards DC
Car manufacturer Nissan is consulting on a proposed switch to a career average scheme to reduce the volatility of its pension liabilities, amid recent and proposed moves to defined contribution in the industry.
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ONS wealth survey: Pension inequality reducing but debt a worry
Pension wealth for UK households increased by 20 per cent in the past two years, according to the Office for National Statistics, but an increase in aggregate debt clouded good news for overall financial health.