Defined Contribution

Merchant Navy Officers Pension Fund (MNOPF) will close its defined benefit (DB) scheme to future accrual and instead introduce a 30% defined contribution (DC) rate for members.

As Pension wise marks its first year of operation, Kristian Brunt-Seymour speaks to staff at the service's Banbury branch about their experience so far and how they think the service will evolve.

A flat-rate of tax relief is the most likely reform to appear in the Chancellor's March Budget according to Aon Hewitt‘s predictions.

Recent Royal London research showed people may need to work until their 80s to secure decent retirement incomes. Helen Morrissey says contribution rates need to be raised sooner rather than later.

Trustees must be confident the new chair governance statements are accurate to avoid future liability, writes PP.

The Financial Conduct Authority (FCA) has launched a discussion paper to learn how financial services firm can better engage with an increasingly ageing population.

Almost a fifth of schemes have not reviewed their default investment strategy in light of freedom and choice according to Lifesight, the master trust owned by Willis Towers Watson.

The state pension triple lock is unnecessary and could place an unfair burden on future working generations, the Institute and Faculty of Actuaries (IFoA) has argued.

An overwhelming majority of Financial Times (FT) staff have accepted a deal on their pensions after seven months of tension which saw two threats of strike action.

The average pensioner's income has risen by more than a fifth since 2002 while working-age incomes remained broadly stagnant at around 2% says the Resolution Foundation.