More members transferred out of defined benefit (DB) pension schemes in October after September's record lows while values were surprisingly stable, according to XPS Pensions Group's Transfer Watch.
The Department for Work and Pensions’ (DWP) consultation on improving defined contribution (DC) outcomes has garnered support from the industry, but many have warned of potential unintended consequences.
With under three-quarters of a year left for retendering exercises to be completed, capacity issues could arise and reduce choice, writes James Phillips.
Schemes need to be prepared for the potential longer-term health impacts on those who contract Covid-19, says Steve Leake.
XPS Pensions has warned that mature schemes could see deficits double without a transition period under The Pensions Regulator’s (TPR) proposed ‘fast track’ funding rules.