All master trusts articles – Page 10
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OpinionWhy we are taking action to ensure a safe DB consolidator market
Amid the current turmoil and uncertainty in the pensions world – indeed all of the world – there is some good news this week as the Pensions Regulator introduces its interim regulatory regime for superfund vehicles.
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News
Auto-enrolment weathers second contribution increase
A step up in the level of minimum contributions to workplace pension schemes in the UK has resulted in a minor uptick in employees choosing to opt out of saving, according to a new study.
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News
Smart eyes alts allocations after Natixis backing
On the go: Master trust Smart Pension has attracted investment from asset manager Natixis, in a strategic partnership that the companies hope will see members gain access to the fund house's suite of alternative strategies.
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PodcastsPodcast: McClymont - UK still has far too many master trusts
Podcast: The UK master trust market is still lacking the scale needed to provide the best outcomes for members, argues Gregg McClymont, director of policy at The People’s Pension. He and Pat Sharman, managing director at Caceis, discuss concerns from the Pensions Regulator regarding the investment strategies pursued by some of the UK’s authorised master trusts, among other topics.
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News
PS Aspire pulls out of master trust market
On the go: Punter Southall Aspire has withdrawn its master trust from the market after concluding that it was unlikely to reach the necessary scale.
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News
Regulator concerned by master trust investments weaknesses
Investment strategies pursued by some of the UK’s authorised master trusts are exposing pension scheme savers to unnecessary risks, according to the Pensions Regulator.
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Features
Scottish Widows hires former regulator as master trust chair
Andrew Warwick-Thompson has been at centre of the pensions industry since 1986, in a variety of top jobs including leading roles at the Pensions Regulator and in the Local Government Pension Scheme, and now clutching his first non-executive role as chair of the Scottish Widows Master Trust.
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News
Master trust members close to retirement lose 8.7% in savings
On the go: The pension savings of master trust members close to retirement are likely to have declined on average by 8.7 per cent during the first quarter of 2020, according to analysis from Isio.
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NewsPodcast: Three-month DB contribution holiday ‘might not be enough’
Podcast: Measures introduced by the Pensions Regulator – which allow employers to freeze their defined benefit obligations for three months in response to the economic fallout from coronavirus – might need to be reviewed, warned Emma Watkins, annuities director at Scottish Widows. However, she says the plan gives “breathing space to the most stressed pension schemes”, an opinion shared by Simon Kew, covenant adviser and former manager at the regulator.
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News
The People’s Pension introduces ‘criticised’ annual charge
The second-largest master trust in the UK is changing its charging structure and introducing an annual fixed fee, a model that other providers operate but which has been heavily criticised by experts.
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News
Smarterly acquires Salvus Master Trust
On the go: Fintech savings provider Smarterly has acquired Salvus Master Trust for an undisclosed sum, the first deal to occur in the sector after the introduction of the authorisation regime.
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News
Charge cap could be a barrier to CDC, experts fear
A collective defined contribution pension scheme for Royal Mail employees is inching closer to the starting gate, but an amendment to the pension schemes bill to impose a charge cap could derail other nascent CDCs from ever getting off the ground, according to experts.
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News
Opperman to legislate for DC consolidation
On the go: The minister for pensions and financial inclusion has unveiled plans to force the consolidation of subscale defined contribution arrangements.
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News
Smart Pension to take on Welplan Pensions Master Trust
On the go: Welplan Pensions Master Trust is consolidating with Smart Pension, after a decision not to seek master trust authorisation.
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News
Blue chips rush to offload DC pension plans to master trusts
More and more blue-chip employers are looking to transfer their defined contribution pension plans to the new breed of master trusts. The Vodafone UK DC Pension Plan is the latest to move all members’ accounts, amounting to £1.4bn, into LifeSight. The transaction is expected to be finalised by the end of March 2020.
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OpinionThe biggest driver of change in DC
Data Crunch: Over the past few years, defined contribution schemes have had to adapt to substantial changes introduced by the government and the regulators.
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News
KPMG pensions spin-off targets industry modernisation
On the go: KPMG’s former pensions advisory business has relaunched as Isio following its sale to a private equity backer, with the new company looking to grow its consolidation offering and improve the industry’s use of technology.
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PodcastsPodcast: Regulator should take ‘softly-softly’ approach to DC consolidation
Podcast: The Pensions Regulator should take a “softly-softly” approach to defined contribution consolidation, similar to what happened with master trusts during the authorisation process, where subtle conversations occurred and schemes decided to exit in an orderly manner, according to Adrian Boulding, director of policy at Now Pensions. He and Rosalind Connor, partner at Arc Pensions Law, discuss the response from the watchdog to its consultation of the future of trusteeship and governance, among other topics.
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News
Increased trustee workload to unleash wave of DC consolidation
On the go: One in three trust-based defined contribution arrangements expects to transfer members into a master trust over the next five years, with stakeholders citing the drain on time and resources of running an own-trust solution.
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Features
Hundreds of thousands of micro pots suffer remorseless attrition
Data crunch: Eight years after the auto-enrolment revolution, millions of workers’ pensions are left languishing in master trusts when they move jobs.