Defined Contribution
Pensions for the 'new normal'
Newton’s Julian Lyne says ESG is critical in these pandemic times
Savings habit evident as Nest records few opt outs from AE rate hike
Just a minority of Nest members opted out of their pensions in the immediate aftermath of the second phased auto-enrolment (AE) contribution increase, the master trust reveals.
Occupational pensions now make up 30% of retirement income
Workplace pension schemes are now providing 30 pence in every pound of retirement income, up from 24 pence in 2008/09, according to Equiniti.
DC pensions on the fastest trajectory to dormancy; Covid-19 to cause 48% increase
The impact of the coronavirus pandemic on the UK labour market will cause a significant increase in the number of dormant pension pots in 2020, with defined contribution (DC) schemes most affected.
PLSA publishes template for DC chair's statements
The Pensions and Lifetime Savings Association (PLSA) has published a drafting template to help defined contribution (DC) scheme trustees produce their annual chair’s statements.
ESG-conscious Nest members neglecting pensions
Nest members are making changes to their everyday lives to be more environmentally or socially responsible, but failing to take the same action on their pensions, the provider says.
McClymont: The power of AE inertia is not too powerful
Gregg McClymont says AE schemes make it easy to opt-out should members feel contributions are not in their best interest
DC schemes show Covid-19 recovery trend
Defined contribution (DC) pensions are showing positive signs of market recovery after dramatic falls in the number of expected retirements this year due to the ongoing coronavirus pandemic.
TPR issues warning over DC allocations to alternative funds
Trustees of defined contribution (DC) schemes redirecting contributions made during Covid-19 to alternative funds should check they’re not unintentionally breaching pension legislation, The Pensions Regulator (TPR) warns.
IFS: Has AE been too successful?
Thousands of the country’s most financially insecure individuals are remaining in auto-enrolled schemes even if it may not be in their best interests to do so, the Institute for Fiscal Studies (IFS) finds.
How to help DC members approaching retirement during Covid-19
Jim Doran looks at how trustees of DC pension schemes can help members who are looking to retire.
Regulator warns on DC transfer speeds
Transfers between defined contribution (DC) schemes must continue to be prioritised by trustees during the Covid-19 pandemic, The Pensions Regulator (TPR) warns.
PensionBee: Savers contributing more and withdrawing less during lockdown
Savers are contributing more to their pension and withdrawing less during the current lockdown, latest analysis from PensionBee finds.
PLSA industry group to support trustees with ESG reporting blind spots
Many schemes are only at the start of their ESG journeys and are likely to be confused by reporting requirements as they also grapple with the ongoing Covid-19 pandemic, says the Pensions and Lifetime Savings Association (PLSA).
How to meet AE duties for furloughed workers
While furloughed workers are still entitled to pension contributions, Justin Corliss says employers must consider the impact of Covid-19 on their duties.
National Pension Trust tops DC default fund performance league tables for 2019
The National Pension Trust’s global equity fund has been named as the best performing growth phase default fund over one and three years in a research report published by Defaqto.
Should the UK's lowest-paid workers be auto-enrolled in pensions?
Jon Dean looks at whether the AE system can be adapted to meet low earners’ needs and lower financial resilience.
Legislation is holding back chair's statements
Maggie Williams looks at whether chair's statements are having the desired effects, and what lies in their future.
Aegon unveils latest IGC report
Aegon’s independent governance committee (IGC) has unveiled its latest annual report – highlighting general good value for money but some concerns over investment and communications.
Scottish Widows publishes IGC report
Scottish Widows’ independent governance committee (IGC) has published its annual chairman’s report – giving the provider a good value for money rating for its modern products but suggesting improvements, particularly for the firm’s legacy offerings.
Standard Life and Zurich unveil IGC reports
Standard Life and Zurich have published their latest independent governance committee (IGC) reports – posting overall green and amber value-for-money assessments respectively.
L&G IGC reports 'very good value for money' in lead up to Covid-19
Legal & General has been providing strong value for money to the members of its workplace pension business, according to its Independent Governance Committee (IGC).
B&CE furloughs 140 staff and changes charging structure
B&CE, the provider of The People’s Pension, has furloughed just under a quarter of its members of staff in response to pressures from the Covid-19 crisis.
