Defined Contribution

British Airways is set to close the New Airways Pension Scheme to future accrual and launch a flexible benefits scheme incorporating a new defined contribution pension scheme.

Defined contribution (DC) savers face lower costs and charges after providers made a concerted effort to reduce these to less than 1% over the past two years.

Just one in five (20%) millennials say saving to secure a desired retirement lifestyle is a top savings priority, according to a Pension and Lifetime Savings Association (PLSA) study.

Fewer than half (44%) of employers oppose increases in minimum automatic enrollment (AE) contributions above 8%, according to an Association of Consulting Actuaries (ACA) study.

The Pensions Regulator (TPR) will authorise and supervise defined contribution (DC) master trusts under a planned regime which will "strike the right balance" between member security and scheme burdens.

Around eight in ten savers between 50- and 64-years-old have underestimated their life expectancy, potentially leaving them with a shortfall in retirement.

The government needs to take "decisive action" and make provision for collective defined contribution (CDC) schemes, the shadow pensions minister has argued.

The Work and Pensions Select Committee has launched an inquiry into the merits of collective defined contribution (CDC) pension schemes, and the potential role they could play in saving for retirement.

There have been calls to extend salary exchange rules to lower-paid earners. However, Kim Kaveh finds it would be very complicated and could cause problems for members

Now Pensions has invested approximately £65m worth of green bonds through its diversified growth fund (DGF).