The £10m publicity drive for auto-enrolment could tempt council pension scheme members to opt-out and move into "inferior, cheaper alternatives", the Merseyside Pension Fund warns.
The scheme said there was a threat members from admitted body employers in the local government pension scheme will switch to the National Employment Savings Trust or alternative vehicles to save on contributions...
Partner Insight: Members' evolving needs and expectations are driving changes in scheme administration. As the pensions landscape inevitably continues to change, how will your scheme's approach need to develop to keep pace?
The Pensions Regulator (TPR) is "working closely" with government contractor Interserve and the trustees of its defined benefit (DB) pension schemes, it has confirmed.
The industry has welcomed the Department for Work and Pensions' (DWP) consultation on defined benefit (DB) consolidation as a way to address scheme covenant issues.
BMO Global Asset Management has opened a UK fiduciary management business, promising a "truly open architecture" approach to deliver "better client outcomes".