UK - Schemes' running costs have grown faster than other business overheads, research from Capita Hartshead shows.
And nearly two-thirds said actuarial and funding costs were the primary cause for concern, followed by the costs of regulatory compliance.
Capita managing director Mike Addenbrooke warned that government reforms proposals were likely to add to these costs.
Capita’s 10th Annual Pension Scheme Administration Survey found that 59% of employers had set up a money purchase scheme in the last two years. A quarter of these firms did so in the last nine months.
The survey also found that a hard core of respondents (41%) had maintained their administration in-house – citing cost control as one of the main reasons not to outsource this service.
Addenbrooke said: “The reasons for retaining in-house administration have not changed, with ‘better administrative control’ still heading the list, followed by ‘greater efficiency’ and ‘greater speed and response’.”
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.