Defined Contribution

The top stories this week were the pensions regulator warning about new master trusts and revealing a big board shake-up, while the LGPS pooling picture became clearer.

The People's Pensions has come out top for service according to research into auto-enrolment providers carried out by Pensions PlayPen.

The Pensions Regulator has warned there are real risks from new master trusts being subject to far less regulatory scrutiny than new contract-based providers.

Defined contribution (DC) schemes have reduced in number by 40% according to figures from The Pensions Regulator.

Statistics from HM Revenue and Customs (HMRC) have revealed 188,000 people have accessed around £3.5bn since freedom and choice came into effect last April but figures tailed off at the end of 2015.

Self-employed people would rather invest cash into savings accounts, cash ISAs or property than pay into a private pension, according to research by Citizens Advice.

The Department for Work and Pensions (DWP) has set out plans to impose a regulatory ban on member-borne commissions on service providers, dismissing concerns the responsibility could fall entirely on trustees.

Capita Employee Benefits' Helen Dowsey talks about the benefits of master trusts and explains why they are on an increasing number of trustee and governance committee agendas.

More than 60% of trust-based schemes do not provide access to a flexible drawdown facility, suggesting a slow response to the April freedoms, according to Willis Towers Watson.

Pension fund boards and executive committees across Europe have shown the strongest female representation in the capital markets sector, according to a report by New Financial.