Pensions Buzz

Many contributors said the conversion factor of 20 used when testing defined benefit (DB) schemes against the lifetime allowance (LTA) undervalued the benefits promised.

Two thirds of contributors backed the idea of a single regulator for all workplace schemes, despite pensions minister Steve Webb rejecting the idea.

The majority of respondents back calls for the auto-enrolment (AE) opt-out to be removed. Six out of ten contributors said this could be necessary, while just a quarter rejected the idea.

Buzz respondents don't have much faith in the pensions industry's ability to sort out charges without government intervention. Almost six out of 10 contributors said this wasn't going to happen, while half that number thought the sector was capable of...

Exactly half of respondents agreed that cutting back on adviser fees was a false economy for schemes, while just over three out of 10 rejected the claim.

This week respondents demonstrate they are less than impressed with the idea that scale is the answer to all schemes' problems.

Buzz respondents were sceptical as to whether bigger schemes necessarily benefited from their size.

More than three quarters of Buzz respondents fear that auto-enrolling people into schemes with an 8% contribution rate will give them a false sense of security.

The majority of contributors backed annuities to retain their relevance in two decades time.

The majority of contributors believe schemes should renegotiate or review charges every three years.