Defined contribution structures have long been seen as the poor relation to defined benefit. People point to lower contribution rates and a lack of member engagement as key factors going against defined contribution pension plans.
However, the number of DC schemes continues to grow and we are getting to a point were the market is maturing and it is often the case that the only open pension plan on offer in many companies is now...
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.