Defined Contribution

Some 30% of trust-based defined contribution schemes have breached retirement disclosure regulations, a report by The Pensions Regulator reveals.

US - Defence contractor Lockheed Martin said yesterday it planned to contribute US$2.4bn to its pension funds through 2010.

A boom in the pensioner population to 15 million will create a huge underclass unless changes are made to retirement options, an industry body says.

Scheme members should not play "retirement age bingo" with their pension savings, AWD Chase de Vere Consulting urges.

The Chartered Institute of Personnel and Development is to close its defined benefit pension scheme to new members from January.

GLOBAL - Private pension funds have not been using benchmarks that measure them against their long-term goal of providing income replacement, a preliminary report by the Organisation for Economic Co-Operation and Development (OECD) found.

The Labour party will not scrap the tax relief on pensions for people who earn less than £150,000 a year, secretary of state for work and pensions Yvette Cooper says.

Each month DC World asks readers for their views. This month we ask: What effect has the recent equity market rally had on DC funds? Do members have reason to be cheerful?

DENMARK/UK - Danish pension fund and administration provider ATP has pulled out of the running for the personal accounts administration contract in the UK, PADA has confirmed.

Danish pension fund and administration provider ATP has pulled out of the running for the personal accounts administration contract, PADA has confirmed.