Defined Contribution

Heineken has closed its defined benefit scheme to future accrual and replaced it with a defined contribution arrangement.

CHILE - Chilean pension funds reached $153bn in assets in June, up 11% from the previous year, according to data released by the pension regulator.

The Work and Pensions Committee has launched an inquiry into auto-enrolment and the National Employment Savings Trust.

More than three quarters of finance directors are in the dark about fines which could be levied on businesses for failure to comply with auto-enrolment regulations.

UK - There is an "overwhelming consensus" among the industry that costs in defined contribution schemes should be clear, simple and comparable, the UK Pensions Regulator says.

Jonathan Stapleton talks to the NAPF chairman-elect

Introducing the collective defined contribution model in the UK could increase typical members' pensions by up to 45% according to actuarial consultant Hamish Wilson.

There is an "overwhelming consensus" among the industry that costs in defined contribution schemes should be clear, simple and comparable, The Pensions Regulator says.

Almost one third of the UK's largest companies are planning to use expensive and ill-suited pension provision to comply with employer duties, according to Hymans Robertson.

The introduction of employer duties is seen as the top barrier to sole traders taking on their first member of staff, a survey finds.