Pensions Buzz

Seven out of ten Buzz respondents believe schemes are paying too much or waiting too long for calculations carried out by actuaries.

This week, respondents tell PP to stop deficit-watching, have no problem with NEST members using its default, and ask if DC members suffer from a lack of attention.

This question also divided respondents although 44% said The Pensions Regulator (TPR) was not failing on data.

Buzz respondents are intensely relaxed about the fact almost all the National Employment Savings Trust's (NEST) customers have ended up in its default fund. Seven out of ten contributors said they were not concerned about this.

The constant commentary on scheme deficits serves no constructive purpose according to Buzz respondents. Eight of ten said the practice had no use, while just one in eight said it had some merit.

Buzz respondents were split as to whether defined contribution (DC) members were suffering as a result of the attention employers paid to defined benefit (DB) deficits.

What is the industry thinking this week?

The majority of contributors think the taxpayer should not be on the hook for the Royal Mail's pension deficit once the institution has been transferred to the private sector.

More than half this week's respondents believe the eventual opt out rate for auto-enrolment will be between 10% and 20%.

The majority of respondents believe a list of registered pension providers would help crack down on pensions liberation scams. But a quarter of contributors thought this would not guarantee compliance.