Defined Contribution

Newton’s Julian Lyne says ESG is critical in these pandemic times

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.

Workplace pension schemes are now providing 30 pence in every pound of retirement income, up from 24 pence in 2008/09, according to Equiniti.

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.

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.

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.

Gregg McClymont says AE schemes make it easy to opt-out should members feel contributions are not in their best interest

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.

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.

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.