All small pots articles – Page 4
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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
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
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
Master trusts to face cost challenges in years ahead
The fallout from the Covid-19 pandemic is only the latest in a long line of structural challenges the master trust industry must face in coming years, according to a new report from the Pensions Policy Institute.
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OpinionMaster trusts hit by ‘perfect storm’
Data crunch: Defined contribution master trusts are going to work. That is as certain as the success of automatic enrolment.
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News
Financial illiteracy and poor support plague concerned savers
Apathy from pension providers and regulators is allowing millions of savers to sleepwalk into retirement traps, according to the findings of a series of reports into poor levels of financial education and literacy.
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News
Small pension pots put AE success at risk
Research released by the Pensions Policy Institute warned that the proliferation of small pension pots risks undermining auto-enrolment success, unless significant government intervention is undertaken.
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News
DWP directs savers to unofficial pension tracing website
On the go: The Department for Work and Pensions has been wrongly directing savers searching for their lost pension pots to a website linked to an independent financial adviser company rather than the government’s official service.
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News
Dormant pots to exceed 20m in 2020 due to Covid-19
On the go: The impact of the coronavirus pandemic on the UK labour market will cause a 32 per cent increase in the number of dormant pension pots in 2020, according to new research.
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News
Moving house causing savers to lose £19.4bn in pensions
On the go: There are about 1.6m pension pots worth £19.4bn that are going unclaimed due to savers failing to contact their pension provider when they move house, according to the Association of British Insurers.
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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.
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News
Schemes hit back at DWP’s levy ‘knee-jerk solutions’
Several pensions experts have criticised the government’s consultation on the general levy on pension schemes, arguing that the Department for Work and Pensions has proposed ‘knee-jerk solutions’ that are not fit for purpose.
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News
OECD: One in three workers risks falling through the pension cracks
Pensions provision has not caught up with the 21st century phenomenon of the non-standard worker, as this type of employment now accounts for one in three jobs in OECD countries, a new report has revealed.
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OpinionDelayed dashboard the answer to UK’s small pots problem
Auto-enrolment means every job now comes with a pension. It also means the UK’s existing small pension pots problem is significant and set to grow.
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News
Dormant pots could cost £1bn in admin charges, research finds
Auto-enrolment is set to create 50m dormant pension pots by 2050, which may cost savers up to £1bn in administration charges, according to Hargreaves Lansdown research.
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Opinion
How to make the dashboard work
Barely a week seems to go by without a new report on pensions dashboards, but what are the implications for pension schemes of the chancellor’s commitment to have a dashboard in place by 2019?
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News
More detail emerges on pensions dashboard
The working group charged with devising a pensions dashboard – a single destination where consumers will be able to view all their retirement savings pots – has released its view of what it should look like.
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News
Which? calls for pensions dashboard but obstacles remain
Consumer group Which? has called on the government to introduce a pensions dashboard, but experts say there are still significant barriers to overcome before it becomes a feasible option.
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News
DC needs to raise commitment without scaring members
The success of defined contribution is hanging on the ability to drive up contributions while keeping members on side with pension savings, as data show it risks falling short of delivering adequate retirement incomes.