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!
Universities Superannuation Scheme is one of few UK pension funds actively addressing climate change risks. Co-head of responsible investment David Russell tells Stephanie Baxter how to bring the rest of the industry up to speed.
Well-funded defined benefit (DB) schemes should not be subject to triennial actuarial valuations, the Pensions Regulator’s (TPR) non-executive chair Mark Boyle has said.
The delayed launch of a service to check the protection status of members following the lifetime allowance (LTA) cut will mean extra work for administrators.
More than a third of workers have been auto-enrolled but coverage is uneven across the country and people still do not understand pensions, according to two surveys.