Providers warn DWP must monitor 'true' opt-out rate
The Department for Work and Pensions must monitor the overall rate of participation in auto-enrolment rather than focusing on opt-out rates, providers have warned.
The DWP is communicating with the largest employers to collate data on initial opt-out rates among firms already staging, and will publish a report on indicative levels of participation this summer...
More on Defined Contribution
Flexible pension withdrawals slide 2% in 12 months
The £2.3bn withdrawn flexibly from pensions in Q3 represents a 2% year-on-year decrease from monies withdrawn during the same months in 2019, HM Revenue and Customs (HMRC) figures show.
Industry supportive of DWP's DC proposals but warns of unintended consequences
The Department for Work and Pensions’ (DWP) consultation on improving defined contribution (DC) outcomes has garnered support from the industry, but many have warned of potential unintended consequences.
Raising the bar for small DC schemes
As DC schemes face increasing pressures to consolidate, David Snowdon says master trusts are the perfect home.
UPDATED: DWP to mandate use of simpler annual statements for auto-enrolment DC schemes
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
Industry pushes for AE intervention so members don't squander pension pot
The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.
