defined contribution

Pensions minister Steve Webb has been criticised for saying people can spend their defined contribution (DC) pensions on extravagant purchases such as a Lamborghini if they want.

Shadow pensions minister Gregg McClymont has challenged pensions minister Steve Webb over his defined ambition (DA) proposals in light of the government's defined contribution (DC) reforms.

Sending out the message that decent pensions will become unaffordable in the UK as society ages is "irresponsible and almost certainly mistaken", says Barclays European chief investment officer Kevin Gardiner.

The government will ban public sector workers from transferring pension pots to defined contribution (DC) arrangements and is considering similar restrictions on private sector schemes, it has announced.

The trustee of the Santander UK Group Pension Scheme has hired JLT Employee Benefits (JLT EB) for administration services across its defined contribution (DC) and defined benefit (DB) schemes.

Towers Watson has appointed Jo Kite to the newly-created role of head of pensions and benefits in its Scottish division.

Mercer has appointed partner Alan Baker as UK head of defined benefit (DB) risk, replacing Ali Tayyebi who will concentrate on client work.

The Department for Work and Pensions (DWP) is to consult on extending defined contribution (DC) charge disclosure proposals to defined benefit (DB) schemes.

The rules that allow retirees to take small pots as a lump sum need to be drastically simplified, say Buzz respondents.

An unprecedented period of ultra-low interest rates has harmed both defined benefit (DB) schemes and defined contribution (DC) savers, say Buzz respondents.