Defined Contribution

Insurers have warned against "distracting" the National Employment Savings Trust from its original purpose by lifting government-imposed restrictions.

A group of consumer organisations, employers and trades unions have demanded that the government lifts the restrictions on the National Employment Savings Trust.

The number of trust-based DC schemes has fallen by 40% over the last 14 years but the remainder have larger memberships, The Pensions Regulator's data reveals.

The Department for Work and Pensions is considering an outright ban on consultancy charges on pensions which are borne by members.

Pensions minister Steve Webb has reiterated his opposition to a cap on scheme charges and said he prefers to "shame" or "praise" schemes and employers to encourage high quality provision.

The National Employment Savings Trust has cut its allocation to conventional gilts across all 47 of its retirement date funds.

Legal & General has launched the Master trust Employer Group for schemes in master trust arrangements.

The Pensions Trust has announced its new defined contribution offering, SmarterPensions, will be subject to a 0.45% annual management charge for the majority of its fund.

WH Smith will use Ceridian UK for its auto-enrolment payroll solution for its 16,000 employees.

Aegon has withdrawn its offer to pay 50% of contributions for employers for their first three months of using its auto-enrolment hub due to an "exceptional market reaction".