The Department for Work and Pensions (DWP) paper on defined ambition expected this summer will set out plans to introduce large scale collective defined contribution (CDC) schemes to the UK.
The department is looking at several different models of CDC as part of pensions minister Steve Webb's defined ambition (DA) project. A spokesman for the DWP confirmed the department had "had positive...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter