Defined Contribution

Consolidating pension pots through a pot follows member system is more cost effective for than alternative forms of accumulation, Department for Work and Pensions statistics show.

More than half a million low-paid workers could lose out on thousands of pounds in employer pension contributions if the government increases the auto-enrolment earnings trigger, unions have claimed.

The defined contribution market is "dysfunctional" and marked by "disingenuous" fund charges which halve the retirement income of members in low-cost schemes, the Pensions Institute says.

Mercer, Aon and Blackrock must compensate a scheme member whose fund was depleted when invested incorrectly following an enhanced transfer exercise.

Conventional annuity rates have dropped 7% since June and enhanced rates have fallen 5% in the same period, according to analysis from provider MGM Advantage.

Premier has appointed Rob Cooper as senior sales consultant.

Morrisons supermarket had around 5,000 of its employees actively opt-in to its pension scheme before the official staging date on the 1st of October.

Defined contribution multi-asset managers have not seen a pick-up in business in the run-up to auto-enrolment.

Auto-enrolment into default funds could be a barrier to pension engagement, delegates at the PP show heard.

Around half of business owners have no pension savings and most say they cannot afford to save, Prudential research says.