Pensions Buzz

Proposals to let defined benefit (DB) members with small pots transfer out without taking advice are supported by the industry, according to research carried out by PP.

The Financial Conduct Authorities' (FCA) attempts to prevent mis-selling after ‘freedom and choice' policies kick in this April have been trashed by respondents to PP's weekly survey.

This week Pensions Buzz wants the industry's views on fresh rules from the FCA introduced to protect consumers ahead of April, as well as reaction to TPR's finding that the majority of employers have not read its DB funding code of practice.

The pensions industry is in favour of giving defined contribution (DC) members more information about where their money is invested, according to research from PP.

Industry figures are divided on whether the government should review how small employers can boost auto-enrolment (AE) contributions according to PP research.

Industry figures were split on the proposal members should be informed of any change in the method used to calculate late retirement increases according to PP research.

Respondents were divided on whether regulators should censure schemes that do not take adequate steps to make sure defined contribution (DC) members take informed decisions at retirement, PP research finds.

Fewer than one in seven defined contribution (DC) schemes plan to make it mandatory for members to take up the guidance guarantee before accessing their pot, PP research finds.

The pensions industry does not believe defined benefit schemes should survey members about their attitudes to investing, PP research finds.

The most common definition of a long-term investment horizon for pension schemes is ten years, according to research carried out by PP.