Defined Contribution

Retired households are increasingly relying on private pension provision for income, but there is a huge gap between the rich and the poor, Office for National Statistics (ONS) show.

After the government's auto-enrolment review found 12 million people were under-saving, Jonathan Stapleton says changes are needed to ensure young workers can afford to retire.

Legal & General (L&G) has been selected as provider of HM Civil Service's defined contribution (DC) schemes after a competitive tender process.

George Currie says policy-makers and industry stakeholders must find ways to help the 12 million people who are under-saving for retirement

Members should have access to good guidance for DB transfers to limit potential issues and improve member outcomes, writes Kim Kaveh.

Greater flexibility in how retirement savings can be used is key to renew 'social contract' between generations, the Association of Consulting Actuaries (ACA) has said.

Some 88% of active defined contribution (DC) members remain in the default fund, latest Pension and Lifetime Savings Association (PLSA) research reveals.

Steve Webb says a Resolution Foundation report offers a surprisingly positive outlook for incomes of future pensioners, but warns we are not out of the woods yet

Over a third (37%) of 50- to 75-year-olds are unsure when and how to access their pension, Old Mutual Wealth and YouGov research reveals.

The Hymans Robertson Staff Pension Plan's governance committee has taken various steps this year to improve member experience, writes Michael Klimes