Defined Contribution
Have your say: Which type of DC scheme is best?
In this week's Pensions Buzz, we want to know whether you think a contract-based, trust-based or a master trust arrangement would be best for a new defined contribution scheme.
We have used 25% lump sum wisely, say four in five freedoms users
Savers are not squandering their tax-free lump sums under Freedom and Choice but are taking a more cautious approach to retirement, according to Prudential research.
IGC reports for 2018 remain as diverse as ever
Henry Tapper says while most IGCs are making progress, there is still a long way to go until they fulfill the promises set by the OFT.
Pension freedoms could add £25bn to accounting costs
Pension freedoms could add £25bn to the accounting costs of UK companies if no action is taken, a Xafinity Punter Southall study reveals.
Staying true to values: B&CE celebrates 75th anniversary
B&CE turned 75 in October last year. Jonathan Stapleton speaks to Patrick Heath-Lay about how the not-for-profit provider has evolved since it was founded in 1942.
New retirees overly-pessimistic about life expectancy
Soon-to-be and recent retirees significantly underestimate their longevity, expecting a lower chance of survival to old age compared to official estimates, according to the Institute for Fiscal Studies (IFS).
Master trusts failing low paid earners on pensions tax relief
Low income earners in the majority of master trusts are missing out on tax relief on their retirement savings due to a legislative technicality, according to research.
Women in drawdown face being 37% worse off in retirement than men
Women using drawdown can expect to receive £47,000 less in their pension pot over a typical 20 year retirement period, according to Zurich.
Millennials contributing less towards retirement than in 2012
Half of millennials were saving into a pension in 2016 but the overall total of their savings has dropped, according to analysis.
Have IGCs improved value for money in contract-based pensions?
A third round of IGC reports show most have lowered charges, but transaction costs remain hard to pin down. Kim Kaveh looks at the key findings.
Maritime master trust lowers charges and introduces in-house drawdown
The Ensign Retirement Plan has reduced its annual management charges and introduced an income drawdown facility, in a bid to better prepare members for retirement.
Four in five employees to stay in AE pensions as rate rises
The majority of employees will stay opted into their automatic enrolment (AE) scheme despite their pension contributions tripling, Now Pensions research finds.
Three years on: Over-55s encouraged to save more by pension freedoms
Around one in ten (11%) workers aged over 55 say pension freedoms have encouraged them to save more since the rules came into effect in April 2015, Prudential has found.
EXCLUSIVE: One in five employers to contribute more than AE minimum
One in five automatically-enrolled members will benefit from generous employers who will pay more than their minimum 2% pension contributions, a survey by The People's Pension reveals.
Employers should 'up their game' and engage members about pensions
Employers should do more to engage members with pensions and help them harness the full potential of their options to reach a good retirement outcome, according to research.
Default drawdown pathway needed to boost member outcomes, MPs say
The Work and Pensions Committee has called for the government to introduce an auto-drawdown option while allowing NEST to offer decumulation products, James Phillips reports
British Airways opens flexible benefits scheme
British Airways (BA) has opened a 'flexible' defined contribution (DC) scheme, offering a range of contribution rates and the ability to take cash payments in lieu of a pension.
HMRC data reveals 'shocking disparities' in pension income
There are 'shocking disparities' in pension incomes - including within the same region, according to a Royal London analysis of HM Revenue & customs (HMRC) data.
AE savers feel positive about pensions ahead of rate rise
Savers feel positive about the upcoming rise in auto-enrolment (AE) contributions, according to data from the National Employment Savings Trust (NEST).
Prudential's IGC removes high-charging funds and complex cost structures
The independent governance committee (IGC) for Prudential has improved value for money for members by simplifying charging structures and starting to shut expensive funds, according to its third report.
Providers offer suitable drawdown info but people don't consider options - FCA
Providers offer 'large amounts of information'
Just 12% of firms happy with workforce pension engagement
The CBI and Aegon have published a joint research report looking at how to quantify the value of pension engagement. Kim Kaveh explores the data
Workplace pension saving rate hits 73% as AE staging concludes
Nearly three-quarters of workers were saving into a workplace pension scheme as of April last year, data from the Office for National Statistics (ONS) shows.
TPR unveils master trust code of practice for consultation
The Pensions Regulator (TPR) has published for consultation its draft code of practice for authorising and supervising master trusts.
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