Standard Life

Industry gets behind PP call to arms on decent defaults

Professional Pensions has launched a Campaign for Better DC Default Options in a bid to raise awareness of best practice in defined contribution default design.

Insurers are split over how the industry should tackle the issue of "unfair" active member discounts, PP can reveal.

Active membership of occupational schemes has fallen to its lowest level in almost 60 years, according to the Office for National Statistics.

Publisher Emap has completed the wind-up of its 6,000 member Flexiplan defined contribution pension scheme with a £140m buyout.

Legislation curtailing pension charges for deferred members has been announced by pensions minister Steve Webb.

Automatic enrolment add-ons could more than double additional annual retirement savings by 2025, a report concludes.

The Emap Flexiplan defined contribution pension scheme has completed its complex wind-up within 18 months.

Standard Life has revealed it is working with the National Employment Savings Trust to integrate the scheme into its proposition to clients ahead of auto-enrolment.

A glut of private sector competitors to the National Employment Savings Trust could have a negative long-term impact on savers, an actuary warns.