UK - The shift from final salary to defined contribution provision continues unabated, the latest JPMorgan Fleming Defined Contribution Industry Survey reveals.
Some 50% of respondents now have some form of DC provision in place – an increase of 11% on the previous year.
Additionally, a further 16% of companies say they intend to introduce a DC-type plan in the next five years.
Kim Gubler says it is time that schemes and administrators reassess SLAs and look at what real people need from their pension schemes and when
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
Funding standards for DB schemes have increased exponentially over the past decades. Con Keating says such significant overstatement of liabilities will lead to pushback through the courts.