Cost savings of up to 20% could be made by pension schemes if they move to a defined contribution (DC) master trust, according to Hymans Robertson analysis.
Over half (52%) of employers engage their gig economy workers for whom no pension provision is required to be made under UK law, according to the Association of Consulting Actuaries (ACA).
This week’s top stories include SuperTrust UK’s exit from the master trust market, just one day before The Pensions Regulator announced all existing master trusts had been authorised.
Phoenix Group chief executive Clive Bannister is to leave the business and be replaced by ex-Aviva boss Andy Briggs next March.
Pension scam victims could lose an average of 22 years of savings in 24 hours, according to research by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).
Just under a quarter (24%) of employees never review their pension which shows a lack of engagement when it comes to retirement is a “real issue”, according to Close Brothers.
The FCA’s consultation on banning contingent charging on DB transfer advice has closed. Kim Kaveh looks at the industry’s responses.
The Combined Nuclear Pension Plan (CNPP) has appointed Aon Hewitt as an investment adviser for its defined benefit (DB) section, replacing Hymans Robertson.
The Pensions and Lifetime Savings Association (PLSA) has been appointed to the Task Force on Climate-Related Financial Disclosures’ (TCFD) pensions industry working group.
The master trust market now represents 16 million memberships and holds more than £36bn in assets, The Pensions Regulator’s (TPR) final master trust market update reveals.
Salvus Master Trust and the Financial Conduct Authority Pension Plan have been approved by The Pensions Regulator (TPR), concluding the master trust authorisation regime for existing schemes.
The NEST members’ panel is calling on the government to start reducing the £10,000 auto-enrolment (AE) earnings threshold, before the move to start contributions from the first pound earned.
A panel of experts have shared their views on how DB schemes can make good consolidation decisions. Kim Kaveh reports from the PLSA’s annual conference .
Buck has launched an investment governance service which aims to help defined benefit (DB) schemes prepare for their endgame.
Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).
The Association of Member Nominated Trustees (AMNT) has called on the Financial Conduct Authority (FCA) to respond to a complaint it made in May regarding investment stewardship.
The Combined Nuclear Pension Plan (CNPP) has dropped Hymans Robertson as an investment adviser for its defined contribution (DC) master trust and appointed Redington as a replacement.
The London Borough of Barnet Superannuation Fund is now being run more effectively following intervention action taken by The Pensions Regulator (TPR).
The government has scrapped plans to go ahead with an Autumn Budget on 6 November as prime minister Boris Johnson continues to push for a general election before the end of the year.
Aviva Life and Pensions UK has completed a £1.7bn bulk annuity buy-in with the Aviva Staff Pension Scheme.
Manchester Airport Group (MAG) has selected Legal and General (L&G) to run a master trust scheme for its employees after a review of its defined contribution arrangement, PP has learned.
Some 37% of pension fund investors expect to increase allocations to real assets over the next 12 months, according to Aviva Investors.
Most of this week's 94 Pensions Buzz respondents agreed the bill is good for pensions if it gets through parliament.
The Combined Nuclear Pension Plan (CNPP) is the latest master trust to have been granted authorisation by The Pensions Regulator (TPR).
The Department for Work and Pensions (DWP) has proposed increasing the general levy on occupational and personal pension schemes from 1 April 2020.
The number of members to have ever used NEST rose by 28% over the 2018/19 fiscal year to 31 March, according to its research arm, NEST Insight.
The Pensions and Lifetime Savings Association (PLSA) has unveiled a retirement living standards tool to help members engage with their pension and set retirement targets.
Aegon has launched personalised animated video summaries for its members, in a bid to boost engagement.
LEBC’s majority shareholder B.P. Marsh & Partners has reduced the valuation of its holding in the group by 33%, following its withdrawal from the defined benefit (DB) transfer market.
Defined contribution (DC) schemes’ visions are generally aligned, but there are mixed views on the power of the default versus member engagement, according to the Thinking Ahead Institute.
AE has successfully brought millions of people into pension savings. But, as Kim Kaveh writes, it is far from perfect.
Evolve Pensions has wound up its BlueSky master trust and moved members to its other provider, Crystal, PP can reveal.
There has been a substantial reduction in fees across a number of asset classes over the past few years as pension funds continue to apply pressure on fees, Bfinance says.
The Information Commissioner’s Office (ICO) has searched an unnamed business premises in Chichester as part of an investigation of the firm suspected of making nuisance pensions calls.
Three directors who liberated just under £12m worth of pension savings have been disqualified for a total of 34 years for misleading investors over a period of 30 months.
RPMI Railpen will vote against the re-election of chairpersons and senior directors where it is concerned about their firms’ approach to managing climate risk, it has announced.
TPR’s consultation on the future of trusteeship closed last week, but there are mixed views on its proposals. Kim Kaveh looks at the industry’s responses.
The Telegraph Media Group has moved its employees to the Fidelity Master Trust after the trustees conducted a “comprehensive review” of its pension arrangements, PP has learned.
The Carey Workplace Pension Trust and BCF Pension Trust have been granted authorisation, leaving just six master trusts waiting for approval from The Pensions Regulator (TPR).
Punter Southall Aspire has acquired accountancy and business advisory firm BDO’s employee benefits business.
A narrow majority of this week's 108 Pensions Buzz respondents said there was no need to make workplace pension scheme membership mandatory.
Cardano Group has completed the acquisition of Now Pensions, a week after the master trust received authorisation from The Pensions Regulator (TPR).
Rothesay Life has lodged an appeal against the High Court’s decision to block the £12bn transfer of Prudential’s annuity book.
Female members of NEST are three times more likely than men to be under the auto-enrolment (AE) eligibility threshold, but exhibit equal savings behaviour, the provider has found.
The Pension Protection Fund (PPF) has launched a consultation on how levies will be calculated for 2020/2021, with an expected 8% increase in its levy collection compared to this year.
London Stock Exchange Group’s Ava Lau won the Pensions Manager of the Year award at PP’s inaugural Rising Star Awards. She tells Kim Kaveh about her successes to date.
The Money and Pensions Service (MAPS) has made ten appointments across the pensions and wider financial sector to work on the practicalities of establishing pensions dashboards.
Defined contribution (DC) members in the default could see a 7% to 12% increase in total retirement savings by having investments in venture capital and growth equity, research shows.