The September edition of DC and Auto-enrolment looks at two tier pension schemes and how partnerships are helping businesses deal with auto-enrolment.
Recently we have seen several cases of DC providers collaborating with low cost pension providers such as NEST and The People's Pension to offer two tier pension arrangements.
The rationale behind such decisions seems clear. If certain providers are unable to service lower paid workers then collaborating with those who will can save employers a great deal of stress.
However, reading through the auto-enrolment panel in this supplement (pages 6-10) highlights that such partnerships may not be straightforward.
Hargreaves Lansdown's Lucy Lawrance points to several challenges. For instance, how will the different providers' systems work together? Will they need to be adapted and if so who takes responsibility for that? How much will it cost to do so?
These are important issues that will need to be addressed quickly if these collaborations are to work well. I think we are in for interesting times ahead!
David Hutchins looks at the recent FCA interim market study and asks better value can be delivered to members.
PP research finds disagreement on whether transfers to SSASs are the problem and should be barred.
Aon Hewitt, Mercer and Willis Towers Watson have joined forces in calling for measures to tackle transparency and competition issues raised by the Financial Conduct Authority (FCA).
This week's top stories included coverage of the DWP's much-anticipated green paper on defined benefit (DB) regulation, and ARC Pensions Law's plans to open a Leeds office.