Defined Contribution
Exclusive: Now Pensions making 'huge progress' to rectify admin issues
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Manchester University plans to close final salary scheme for support staff
The University of Manchester is consulting on closing its non-academic staff final salary fund to future accrual and enrolling new recruits into a defined contribution (DC) scheme.
Over a third of employees unaware they have been auto-enrolled
Some 36% of employees do not know that they have been automatically enrolled into a workplace pension, data from the Office for National Statistics (ONS) has revealed.
Pension freedom withdrawals hit record £2.3bn in Q2
A record £2.3bn was withdrawn from pensions under Freedom and Choice in the second quarter of this year, according to HM Revenue & Customs (HMRC).
How to enhance AE with behavioural science
The Behavioural Insights Team has demonstrated how the pensions industry can go beyond AE by applying behavioural insights to improve member outcomes. Kim Kaveh reports.
Michael Johnson: CDC is a 'risk too far' and with-profits better
Collective defined contribution (CDC) schemes risk creating "irreversible intergenerational injustice" and could undermine pension freedoms, Michael Johnson says.
Govt reveals 20 master trusts will exit the market before authorisation
Some 20 master trusts will not apply for authorisation with The Pensions Regulator (TPR) by the 1 October deadline to operate in the market, Baroness Peta Buscombe has said.
Why DC schemes must follow DB and embrace real assets
The DC market has been slower to adopt real assets and other potential diversifiers. Marc Haynes looks at why this needs to change
One in 10 risk huge tax bills by planning to withdraw entire pension pot
One in 10 of this year's retirees will take their entire pension pot as a lump sum, Prudential's 'Class of 2018' research finds.
What have we to lose from CDC?
Henry Tapper says CDC makes sense as a means of solving one of the most intractable of economic problems but this 'new order of things' is getting a bad reception
How CDC could improve retirement outcomes
Collective defined contribution should be brought back to the table, a panel at Pensions and Benefits UK argued. Victoria Ticha reports from the conference
How the Civil Service scheme is restructuring its DC arrangements
The Civil Service Pension Scheme is putting a master trust in place for its AVC and partnership sections by this September. Victoria Ticha takes a closer look at the major restructure
Gender equality: Not just for Hollywood, but pensions too
Lottie Meggitt continues Newton Investment Management's series of columns on DC issues
Consolidation 'to move £50bn' in DC assets
Unprecedented levels of provider consolidation means trustees must regularly monitor and assess security of members' assets, the Security of DC Assets Working Party has warned.
WPC urges government to kick-start 'next great pensions revolution' with CDC
Collective defined contribution (CDC) schemes are the "best means" for achieving the right balance between collective benefit security and individual freedom and choice, the Work and Pensions Committee (WPC) says.
National retirement income targets needed, say 75% of respondents
An overwhelming majority of this week's Pensions Buzz respondents agreed with the Pensions and Lifetime Savings Association (PLSA) that national retirement income targets should be developed to help people understand how much to save for retirement.
Millions of confused savers need support to get the retirement they want
Nigel Peaple says the UK should learn from Australia and adopt national retirement income targets.
Guided pathways are vital for savers
Gavin Perera-Betts says we cannot let the successes achieved through AE be undermined by savers experiencing poor outcomes in decumulation
National income targets would help boost pension saving in the UK, says PLSA
The Pensions and Lifetime Savings Association (PLSA) has proposed a number of reforms to boost pensions adequacy, including retirement income targets to show the lifestyle people could afford on different levels of income.
Aegon completes acquisition of £15bn BlackRock DC businesses
Aegon has concluded the final steps of its takeover of BlackRock's defined contribution (DC) platform and administration businesses over two years after announcing the plans.
Stakeholder 'mindset adjustment' needed to address '£9.7bn savings gap'
UK employees think they need an extra £361 each month on average to save more, JLT Employee Benefits research has found.
EXCLUSIVE: Marginal uptick in opt-outs since rate rise, says Opperman
April's increase in minimum total contributions under auto-enrolment (AE) has caused a marginal uptick in opt-outs, according to Guy Opperman.
Average NEST member has £450 pot but opt-outs and cessations stay low
Just £450 has been set aside for retirement by the average NEST member, according to latest research.
Over half of savers increasing contributions voluntarily, Hargreaves Lansdown finds
Over 50% of workplace pension savers have already increased their contributions above the minimum rate set by their employer or auto-enrolment (AE), Hargreaves Lansdown research has found.
