Defined Contribution

Pensions minister Steve Webb has confirmed that women will be hit hardest when the auto-enrolment threshold is raised.

The government has set the earnings threshold at which workers are auto-enrolled at £9,440 for 2013/14.

The Co-operative has added an additional assessment criterion for auto-enrolment to address the issue of fluctuating hours.

Lloyds Banking Group has budgeted more than £1m in costs for implementing auto-enrolment to its 107,000-strong staff.

The Pensions Regulator has begun auto-enrolment with a 24% opt out rate for newly enrolled members and an overall take up rate over 98%.

Auto-enrolment could lead to increasing risk aversion in UK schemes, pension professionals believe.

Thirty six not-for-profit sport and leisure trusts have banded together to set up a single auto-enrolment scheme.

Standard Life has made six recommendations on how to ensure a "positive experience and outcome" for defined contribution savers.

A third of people approaching retirement cannot even guess what their income will be, increasing to 40% when focusing on DC members, the Institute of Fiscal Studies says.

Recruitment business Blue Arrow has chosen master trust NOW: Pensions to auto-enrol its 30,000-strong workforce.