Defined Contribution

HM Revenue and Customs (HMRC) paid back over £54m in tax on pension withdrawals during the three months to 30 September – the highest quarterly amount since the introduction of Freedom and Choice in 2015.

It is the role of employers, the pensions industry, and the government to close the gap between minimum and moderate levels of income in retirement, according to the Institute and Faculty of Actuaries (IFoA).

The Combined Nuclear Pension Plan (CNPP) has dropped Hymans Robertson as an investment adviser for its defined contribution (DC) master trust and appointed Redington as a replacement.

Broadstone has acquired Bristol-based BBS Consultants & Actuaries for an undisclosed amount as it continues to expand its actuarial and consulting service.

Manchester Airport Group (MAG) has selected Legal and General (L&G) to run a master trust scheme for its employees after a review of its defined contribution arrangement, PP has learned.

Workplace pension schemes may not be doing enough to fix ‘pension blind spots’ as many workers remain unaware of the benefits available to them, the Money and Pensions Service (MAPS) has found.

The Combined Nuclear Pension Plan (CNPP) is the latest master trust to have been granted authorisation by The Pensions Regulator (TPR).

The industry constantly talks about the need to engage members. Gregg McClymont says a more important priority is how to ensure all schemes are governed well.

The number of members to have ever used NEST rose by 28% over the 2018/19 fiscal year to 31 March, according to its research arm, NEST Insight.

Estimates of the amount of money needed for a ‘modest’ retirement can vary by up to £500,000, according to research from Aon.