American financial services giant TIAA-CREF has scrapped its plans to enter the UK pensions market as the industry is too focused on low charges, PP has learnt.
TIAA-CREF, which provides occupational defined contribution (DC) pensions to over 15,000 educational, research and medical organisations in the US, started planning to enter the UK market as a DC provider...
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.