Defined Contribution

As many as 98% of small and medium-sized employers (SMEs) have yet to choose and secure a scheme for automatic enrolment (AE), according to Now Pensions.

Naomi Rainey looks at the impact of DWP's plans to cap auto-enrolment charges

Aegon has announced charge cuts to its One Retirement and Aegon Retirement Choices (ARC) solutions, following last month's Budget.

Barclays Corporate and Employer Solutions (C&ES) has launched an auto-enrolment service to support small and medium-sized businesses.

Pension schemes are being left in limbo after major Budget changes come into effect yesterday - but without the necessary supporting regulations.

Two thirds of respondents said it was likely or very likely that significant numbers of defined contribution savers would cut contributions if tax relief was curbed.

The key measures announced today

A 0.75% charge cap will apply to all defined contribution (DC) schemes used for auto-enrolment (AE) from April 2015, pensions minister Steve Webb has confirmed.

Retirees should have access to "specialist basic advice", not unregulated guidance, independent consultant Ros Altmann says.

Legal & General (L&G), one of the country's largest annuity providers, has said it expects to see revenues from annuity products fall by three quarters by the end of 2015 following a sweeping reform of the sector.