Pensions Buzz
Bigger is not better when it comes to pension consulting, says industry
Bigger is not always better when it comes to pension consulting, last week's Pensions Buzz respondents said following Marsh & McLennan's $5.6bn acquisition of JLT.
One third of schemes have calculated transfer values for GMP equalisation
One third of schemes have calculated transfer values for guaranteed minimum pension (GMP) equalisation, according to last week's Pensions Buzz respondents.
Allow CDC savers to access pension freedoms, says industry
Collective defined contribution (CDC) savers should be allowed to access pension freedoms when the scheme is rolled out, last week's Pensions Buzz respondents said.
Have your say: Is the government right to roll out CDC for Royal Mail before other schemes?
In this week's Pensions Buzz survey, we want to know if the government is right to roll out collective defined contribution (CDC) for Royal Mail before extending the provision to other schemes.
Fewer sole-trader professional trustees after accreditation, predicts industry
Accreditation will reduce the number of sole-trader professional trustees, this week's Pensions Buzz respondents say.
'Money and Pensions Service' backed by industry as new name for SFGB
The 'Money and Pensions Service' is an appropriate new name for the Single Financial Guidance Body, this week's Pensions Buzz respondents say.
Do not reduce the charge cap to 0.5%, say respondents
Most Pensions Buzz peers do not think the DC charge cap should be lowered from 0.75%.
Phase in dashboard compulsion gradually, says industry
Smaller schemes should be given more time to prepare data for the pensions dashboard while larger counterparts should be brought on earlier, this week's Pensions Buzz respondents say.
Savers are ultimately responsible for their own decisions, says industry
Most people think it is right that savers take responsibility to protect from pension scams.
Charge cap should not be amended for illiquid assets
The default charge cap for defined contribution (DC) investment strategies should not be amended to make it easier to access illiquid assets, a majority of last week's 91 respondents said.
Industry agrees trustees need professional help with comms
Trustees do need professional help with member communications as suggested by the review into British Steel Pension Scheme case, this week's Pensions Buzz respondents said.
Trustees should consult members before DB superfund buyout
Defined benefit (DB) trustees must engage with members, either via a consultation or communication exercise, before transferring them to a DB superfund, this week's 112 Pension Buzz respondents said.
Professional trustees should not be mandatory for all schemes
Respondents say they should only be required in certain situations as the system is not broken.
Industry split on whether TPR needs a new strategy
This week's Pensions Buzz respondents were almost equally split on whether The Pensions Regulator (TPR) needed a fresh strategy as its chief executive changes.
GMP calculations will never be understood by members or trustees, says industry
Members and trustees will never understand GMP calculations, and the regulator should not be allowed to create its own rules, according to this week's Pensions Buzz respondents.
Industry split on views to launch the dashboard on voluntary basis
This week's 103 Pensions Buzz respondents were equally split on whether the Department for Work and Pensions (DWP) is right to launch the dashboard on a voluntary participation basis, as was announced on Monday.
Don't suspend pension transfer activity in the wake of GMP ruling, says industry
Trustees should not suspend DB to DC pension transfer activity following the recent GMP equalisation ruling, say this week's Pensions Buzz respondents.
Allow DB scheme rights to be simplified, says industry
The government should introduce legislation to allow for defined benefit (DB) scheme rights to be simplified, say this week's Pensions Buzz respondents.
Asset owners are not to blame for short-termism in business, says industry
Pension Buzz respondents have disputed Lord Myners' arguments that asset owners, including pension funds, are substantially to blame for short-termism in business.
Three to five years until CDC is up and running, says industry
It will take between three and five years before collective defined contribution (CDC) schemes are up and running, despite the government launching a consultation on the provision.
Lloyds judgment has not given more clarity on GMP equalisation, finds PP research
Pensions Buzz respondents say there are still unanswered questions on GMP equalisation following the High Court decision.
Fear-based approaches do not encourage member engagement
In this week's Pensions Buzz, respondents urged caution over the use of fear to engage people in pensions.
Most schemes have not assessed impact of no-deal Brexit, finds PP research
Only a fifth of respondents in this week's Pensions Buzz say they have started contingency planning for a no-deal Brexit scenario.
Government should not require schemes to offer partial transfers - PP research
In this week's Pensions Buzz, respondents warned schemes being required to offer partial transfers could lead to too many administrative burdens
