Pensions Buzz

Almost half of this week's respondents were unsure if annuity brokers charge too much, while a third said they did and a fifth said they did not.

Just over half of participants said employers should be able to cut older employees' hours to help recruit apprentices, whereas around a third said they shouldn't.

This week respondents give their thoughts on which defined ambition options will appeal to businesses, large and small.

Target date funds (TDF) are the most popular option among Buzz respondents for making defined contribution (DC) saving more predictable.

The majority of respondents said trustee boards should do more to review the performance of trustees, although many acknowledged this was a difficult task.

The majority of Buzz contributors believe an annual management charge (AMCs) is generally the most appropriate charging structure for workplace defined contribution (DC).

The industry is less convinced that DA will be taken up by smaller companies, with almost half this week's respondents saying no option under consideration would appeal to this sector.

Many Buzz respondents believe large employers will be interested in the Department for Work and Pensions' (DWP) defined ambition (DA) proposals.

Buzz respondents were split fairly evenly between two of the options proposed by the government for a cap on charges in auto-enrolment (AE) scheme, and leaving well alone.

Respondents said it was not up to schemes to push companies they invested in to pay staff the ‘living wage'.