All value for money articles – Page 4
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NewsRussell Group universities propose USS compromise
Russell Group has backed the Universities Superannuation Scheme trustee’s suggested “lower-cost, more flexible” alternative to the existing scheme structure.
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NewsCost Transparency Initiative sees 23% spike in schemes’ uptake
On the go: The Cost Transparency Initiative has recorded a 23 per cent increase in uptake during the past year, with 79 per cent of pension schemes now making use of its framework.
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NewsSarah Smart endorsed as TPR chair despite conflict of interest concerns
The Work and Pensions Committee has given its assent to the appointment of Sarah Smart as the next chair of the Pensions Regulator, putting aside concerns about potential conflicts of interest.
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NewsFraud Compensation Fund to begin processing cases within 18 months
The Fraud Compensation Fund could begin processing cases through to settlement within 12-18 months, a meeting of the Transparency Task Force was told on Monday.
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OpinionPressure builds on small DC schemes to consolidate
Covid-19 looks to be accelerating the trend towards consolidation in the defined contribution industry, and the UK government is keen to see the transition take place at an even faster pace.
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OpinionDC costs need more transparency to create member confidence
Regulators rightly stress the primacy of value for money and good governance in defined contribution pensions. However, achieving these key objectives can be challenging due to a lack of transparency.
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News
Smaller schemes to prove value for members or face consolidation
Defined contribution schemes with assets below £100m will have to prove their value for members, or face being advised to wind up or consolidate, according to new rules proposed by the Department for Work and Pensions.
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News
Pot-follows-member agreements: Feasible or fantasy?
Now Pensions wants to agree bilateral deals with other master trusts to consolidate small pots resulting from auto-enrolment, but experts say some hurdles remain.
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OpinionFix democratic deficit before mandating professional trustees
The Pensions Regulator’s industry consultation on the ‘Future of trusteeship and governance’ has revealed a divide.
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OpinionWhat does ‘value’ mean for UK DC schemes?
Data Crunch: Since the introduction of the 0.75 per cent cap on member charges in 2015, the average fee paid by members of defined contribution schemes has fallen dramatically.
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OpinionDC schemes: Is it time for a reboot?
The Work and Pensions Committee has its sights set on improving pension costs and transparency, and while Frank Field and colleagues have some useful suggestions for the industry, they should perhaps be encouraged to go further.
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News
One in five asset management mandates highly unsatisfactory
A worrying number of trustees are unhappy with the service provided to them by their asset managers, new figures have revealed.
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Features
Delivering value to members is about more than scheme costs
Data crunch: Low costs and charges alone do not guarantee good value for members’ pension savings, research by the Pensions Policy Institute shows.
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News
MPs urge DWP to review scope and level of charges cap
The Work and Pensions Committee is ramping up the pressure on the government and the Financial Conduct Authority to cap the level of charges on default retirement products.
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FeaturesNuclear scheme calls out Prudential for poor value and switches
Trustees of the Combined Nuclear Pension Plan have dropped Prudential as their defined contribution provider, after member-borne charges for its default and other options were rated "poor" in an assessment of value for members.
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OpinionIGC reports need to tell it like it is on value for money
The Financial Conduct Authority is consulting on extending the powers of independent governance committees. As expected, it is looking to IGCs to monitor providers’ engagement with environmental, social and governance principles, and to ensure policyholders get value for money as they exercise their pension freedoms.
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Features
Should there be an industry-wide methodology for measuring value?
When government boasts about being responsible for pushing almost 10m people into pension saving via auto-enrolment, you can be quite sure they want it to be a success.
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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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News
Opperman's consumer choice AE meeting draws ire of industry
Workplace pension providers and advisers have expressed fury at reports that minister for pensions and financial inclusion Guy Opperman will attend a meeting to discuss letting members choose their auto-enrolment provider.
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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.