The Centre for Policy Studies (CPS) has called for savers to be "automatically protected" in retirement by phasing them between drawdown and annuitisation.
Savers should be automatically assigned to a drawdown policy at the private pension age of 55, with a default withdrawal of between 4% and 6%. Remaining assets should be placed in a diversified default...
The disruption caused by the Covid-19 pandemic has also had a major impact on defined contribution schemes. In this article, XPS Pensions Group recommends trustees take four urgent steps to protect schemes and members.
Furloughed workers will continue to receive pension contributions under the government’s coronavirus job retention scheme, HM Revenue & Customs (HMRC) has confirmed.
Defined contribution (DC) schemes are mostly content with the current asset classes available despite the industry’s push into proving members can benefit from diversified investments underpinned by strong ESG integration.
Almost all employers are now facing challenges when providing their staff with a workplace pension, according to Smarterly.
The government has said it will “do whatever it takes” to support businesses through the Covid-19 coronavirus crisis, leading to speculation that there could be a short-term change in auto-enrolment (AE) policy.