Defined Contribution

Trustees have been warned to ensure communications they send to members comply with the updated disclosure of information regulations from 6 April to avoid a £50,000 fine.

Trustees and employers must recognise their role in improving defined contribution (DC) outcomes, Hymans Robertson partner Lee Hollingworth warns.

Jonathan Stapleton argues for charge transparency

The number of trust-based defined contribution (DC) scheme members has increased by 14% in the last year from 2.2 million to 2.6 million, The Pensions Regulator (TPR) says.

JLT Employee Benefits (JLT EB) has named former Prudential head of corporate pensions Martyn Bogira as a director responsible for its defined contribution (DC) and contract-based offerings.

Around two thirds of employers who have auto-enrolled their staff found it "more difficult than they had anticipated", the National Employment Savings Trust (NEST) says.

Premier plans to expand into the provider market by launching a multi-employer defined benefit (DB) scheme and a defined contribution (DC) master trust in March this year.

The majority of respondents rejected the idea of large employers splitting staff bonuses between cash and pension contributions.

Planned reforms for defined contribution (DC) charges, governance and transparency will not take effect before April 2015, pensions minister Steve Webb has confirmed.

Retirees with small pots should be allowed to draw down savings as fixed-term pensions to enable them to defer taking a state pension, says the Association of Consulting Actuaries (ACA).