Defined Contribution

People managing to achieve a retirement income of £15k per year will be "comfortable", according to a report by the National Employment Savings Trust (NEST).

Pension industry bodies have expressed "serious concern" over the timing of the defined contribution (DC) charge cap proposed by the Department for Work and Pensions' (DWP).

The pensions industry believes big defined contribution (DC) schemes must put in-house income drawdown in place, PP research finds.

A "radical rethink" is underway in the annuity market following the sweeping Budget changes but concerns over fund depletion remain, according to Equinity Paymaster.

Defined contribution (DC) savers who intend to manage their own pension pot in retirement are unwilling to pay for regular advice, according to research from Hymans Roberston.

The promise of guidance at retirement "does not go far enough" and a new form of retirement-focused advice must be created by the regulator, according to Royal London.

Royal London new life and pensions business was up 18% to £989m in the first quarter of the year, with group pensions benefitting significantly from auto-enrolment.

Just Retirement is "rapidly adapting" its business model to accommodate changes to pensions announced at Budget 2014, after disclosing annuity sales are "at around half of pre-Budget levels".

The lifting of restrictions on how defined contribution (DC) savers take their pots will not necessarily mean the end of the annuity market, says the Pensions Policy Institute (PPI).

Defined contribution (DC) default funds remain heavily dependent on the stock market, with the average fund investing 80% of its portfolio in developed market equities, says Schroders.