Defined Contribution
Standard Life: Helping people achieve a more secure and sustainable future
Professional Pensions spoke to Standard Life managing director of workplace Gail Izat as part of an exclusive series of interviews with some of the finalists and winners of the UK Pensions Awards. This is what she had to say…
DC pot first-time access hit high record in March
Savers accessing defined contribution (DC) pension pots for the first time rose to an all-time high just before the coronavirus pandemic, Just Group says.
UPDATED Independent governance committees: A list of who is sitting on which IGCs
PP looks at the pensions great and good who oversee contract-based schemes
Aviva announces net-zero default and urges same requirement for all AE funds
Aviva has set a 2050 net-zero target for its own auto-enrolment (AE) default pension funds, and called on the government to make all AE default funds set the same goal.
Partner Insight: Capping more than costs?
Newton’s Catherine Doyle explains why a further reduction in the defined contribution charge cap could be detrimental to members’ outcomes
Industry Voice: How well do you know your DC members?
In terms of hard facts, most fiduciaries know very little about their UK defined contribution (DC) pension members. But data are critical to making the right choices for the default investment strategy. AllianceBernstein (AB) outline their proven process to achieve better member outcomes.
Hymans Robertson joins with L&G to cut scheme carbon footprint by a third
Hymans Robertson has cut the carbon footprint of its pension plan by around 33% while delivering lower charges by launching a fresh default investment strategy.
Timeline uncertainty over TPR removal of late payment reporting flexibility
The industry is split on whether The Pensions Regulator’s (TPR) January removal of late payment reporting flexibility is too early, a Professional Pensions poll shows.
PPI launches DC Future Book 2020; positive AE trends seen despite Covid-19 disruption
Both defined contribution (DC) scheme membership and assets are continuing to show steady growth despite the Coronavirus outbreak, according to the Pensions Policy Institute (PPI).
Low-earners need AE pause button, says TISA
The least financially secure pension savers may be increasing their personal debt levels or foregoing household essentials after paying pension contributions, The Investing and Saving Alliance (TISA) says.
Thames Water signs Aon for three-year master trust contract
Thames Water has contracted Aon to bring an “inspiring and innovative approach” to its 4,500-member strong defined contribution stakeholder plan.
Government called on to decouple employee/employer AE thresholds
Investment and advice giant Quilter has called on the government to consider decoupling employee and employer contribution thresholds for auto-enrolment (AE) due to the pressures of Covid-19.
SEI boosts master trust offering with Moneyhub partnership
SEI has partnered with Moneyhub in a bid to enhance its master trust offering and help members improve their financial wellbeing.
DC value consultation a 'wake up call' but consolidation not always easy
Plans to improve value to members in defined contribution (DC) plans by improving investment options and governance while consolidating small schemes have been welcomed as a “wake-up call” for the industry.
Pension Awareness Week 2020: AE 'solves retirement money worries' say one in four
While many savers remain concerned about funding retirement, more than a quarter say auto-enrolment (AE) provisions have solved their worries, Close Brothers research shows.
DWP launches consultation to improve DC outcomes
The Department for Work and Pensions (DWP) has launched a consultation to improve saver outcomes and promote investment in green technology and infrastructure.
Pensions 'holidays' wiping thousands from DC market
One in ten UK workers have paused their pension contributions during the Covid-19 pandemic with their absence from the defined contribution (DC) space bringing serious implications for the retirement landscape.
Partner Insight: Reassessing retirement income
Jon Bell of Newton discusses achieving income objectives in a low interest world
Scrap flat-fee structures on low-value DC pots, industry agrees
Close to two-thirds of industry respondents to a Professional Pensions poll agreed they would like to see flat-fee structures on low-value defined contribution (DC) pots scrapped.
Salvus Master Trust launches pension sharing order product
Salvus Master Trust has launched a product that will accept cash equivalent transfer values (CETVs) from a final salary scheme granted as part of a Pension Sharing Order (PSO).
WPC seeks scam victim responses for impact of freedoms inquiry
The Work and Pensions Committee (WPC) is hoping victims of pension fraud will respond to the call for input ahead of its much-anticipated inquiry reviewing the impact of the introduction of pension freedoms five years on.
PPI report flags concerns over financial sustainability of master trusts
The master trust industry is unlikely to breakeven on costs until around 2025, with the big four providers having already spent £1bn on setting up their offerings, research by the Pensions Policy Institute (PPI) finds.
DC pots of young pensions savers up 15% in Q2
The defined contribution (DC) savings of young savers recovered most of their first quarter losses in the following three months, Isio has found.
Covid-19 devaluing pension importance for savers
While the Covid-19 crisis has made savers realise pensions are important, having immediate access to their funds is now equally important, says Cushon.
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