All Financial Conduct Authority (FCA) articles – Page 14
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FeaturesJLT switch to TDF default sees boost in engagement
An overhaul of the default arrangement in the Jardine Lloyd Thompson Pension Scheme’s defined contribution section, switching from a lifestyle arrangement to target date funds, has brought its more engaged members back from their self-select funds.
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NewsFord set to offer partial transfers
Ford has agreed to offer members of its defined benefit scheme the right to partially transfer out half of their pension as cash at retirement, allowing former employees greater flexibility in their benefits.
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News
UK pension system still lagging on adequacy and sustainability
The UK pensions system has major shortcomings in its adequacy and sustainability, and could be improved by rowing back some of freedom and choice, according to research comparing retirement provision around the globe.
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OpinionBridging the gap
Editorial: Auto-enrolment has certainly succeeded so far in helping more people save for retirement. But there is still a lot more to be done.
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News
TPR and FCA launch joint strategy
On the go: The Financial Conduct Authority and the Pensions Regulator have launched a joint regulatory strategy to deliver better outcomes for pension savers and those entering retirement.
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News
Joint watchdog strategy to include consumer journey review
The Financial Conduct Authority and the Pensions Regulator have launched a joint regulatory strategy to deliver better outcomes for pension savers, with priorities including a planned consumer journey review and a focus on driving value for money.
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Opinion
Many schemes are still not engaging on costs
It is difficult to overstate the importance of controlling costs.
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News
Providers say retirement defaults could help poorer pensioners
Research highlighting the increasingly complex financial decisions and lower levels of income facing the next generation of retirees has led to renewed calls for default pathways through retirement.
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NewsFCA to carry out further research on contingent charging
The Financial Conduct Authority has said it needs to carry out more analysis on whether to ban contingent charging, recognising that charging for advice only when a member decides to transfer does not in itself drive poor outcomes for consumers.
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News
Transaction costs make up quarter of management fees
Some of the largest pension funds in the world are paying an average of 86.3 basis points in total annual investment costs, with 24 per cent of these fees made up of transaction costs, according to new research.
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OpinionCMA investigation: Less talk, more action required
Proposals made by the Competition and Markets Authority to improve investment consultancy and fiduciary management were more evolutionary than revolutionary, and most participants are in broad support of them.
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NewsAviva customers hit by system glitch
Pension provider Aviva has admitted that a number of its customers were unable to access their pension policies on its MyAviva system. The delays have prevented some customers from transferring their pensions.
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Opinion
Advertising transfer values: trustee duty or danger to members?
When trustees at the Rexam Pension Plan noticed a substantial spike in defined benefit transfers out of the scheme last year, it seemed like good news.
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OpinionNew guidelines provide carrot and stick on DC administration
From the blog: As a trustee, I welcome with open arms the new DC Administration Governance Guidance issued earlier this summer by the Pension Administration Standards Association.
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FeaturesLloyds switches DGF for equities in default fund
Trustees of the Lloyds Bank Pension Scheme No.1 have overhauled the default offering for their defined contribution members, ditching a diversified growth fund for a 100 per cent equity allocation in the first years of saving.
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FeaturesHow can we restore trust in pensions?
Analysis: Savers have long remained detached and bemused by their pension arrangements. Indeed, the success of auto-enrolment has partly depended upon consumer inertia.
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OpinionZero-tolerance approach needed to tackle scams
Scammers’ eyes lit up when pensions freedoms were introduced. While the reforms empowered retirees with increased flexibility to access their pension savings, the ability to cash in pots early made those same savers an increasingly attractive target for pension scams.
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News
Government hands industry reins on dashboard project
Work and pensions secretary Esther McVey has said she "backs the industry" to deliver the pensions dashboard, but key details including whether the government will compel schemes to submit information remain unclear.
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Opinion
DC Debate Q3: Updating asset allocations
In the second part of this quarter’s debate, our five DC professionals look beyond the traditional bond and equity portfolio to consider issues including diversified growth funds, alternatives and ESG.
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Opinion
DC Debate Q3: Getting the right amount of risk in defaults
In the first instalment of this quarter's DC Debate, five experts dive into the appropriate amounts of risk and diversification for defined contribution members at various points in their savings journey.