Duncan Buchanan
OpinionStranded in a failed mastertrust
From the blog: A by-product of the introduction of auto-enrolment has been the establishment of nearly 90 mastertrusts, many set up with a commercial objective. A few of the larger schemes have started to move to profit, but with a 0.75 per cent charge cap most still rely on their sponsors to make good shortfalls in expenses.
OpinionBuchanan: How to tackle zombie DB schemes
The Work and Pensions Committee enquiry into the BHS Pension Scheme, coupled with the fate of Tata Steel, once again shines the spotlight on defined benefit pension schemes for all the wrong reasons.
OpinionOffsetting costs from the end of contracting-out
The abolition of contracting-out will lead to additional national insurance bills of an estimated £1.2bn this year for private sector employers and £2.7bn for employers in the public sector according to news reports, so how should they deal with the change?
OpinionBuchanan: Government should close legal gaps to stop scammers
When I started out in pensions in the early 1990s, there were clear demarcation lines between ‘occupational pension schemes’, established on a paternalistic, non-profit basis by employers, and ‘personal pension plans’ operated by authorised providers for commercial gain.
OpinionInvestment lessons from DB
Talking Head: The last 10 years have seen a massive rise in defined contribution pension provision, fuelled by a combination of employers moving away from defined benefit schemes and the introduction of auto-enrolment.
OpinionSix pages or 60? What to expect from an IGC report
It is nearly a year since the requirement to set up independent governance committees was introduced, which means the first annual reports will soon be rolling off the presses.
OpinionIncentivising savings – or reducing tax reliefs?
The 'Strengthening the Incentive to Save' consultation, which ended in September, provoked a lot of discussion within the pensions and savings industry and stirred strong feelings.
OpinionSPP: Tax does have to be taxing
Talking Head: The consultation launched following July's Budget may well be more than those who were calling for a review of the pension tax system had in mind.
OpinionStoring up a scandal? The risks of cashing in annuities
Talking Head: In her last Talking Head piece before becoming pensions minister, Ros Altmann welcomed the consultation launched by the coalition government into the creation of a secondary annuity market.
- Opinion
Mastertrust discontinuance plans – why we need certainty
The Pensions Regulator defines a mastertrust as:
- Opinion
Buchanan: Lay trustees play an often unenviable but critical role
Since I first became a pensions lawyer more than 23 years ago, the level of complexity of pensions has increased both in terms of legislation but also the case law set by judges – a recent IBM judgment exceeded 600 pages in length.