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DB schemes need clearer frameworks

A raft of regulatory, competitive and market developments have drastically altered the environment for the trustees and sponsors of defined benefit (DB) pension schemes, offering substantially more options for how to approach the “endgame” of running off the scheme and delivering pension promises to members.

Contributor: Dan Mikulskis | Published: 27 October 2018

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Most pension nest eggs have insufficient reserves

Three quarters of retirees with pension pots have no reserves to see them through a sustained stock market tantrum, according to a survey conducted by retirement specialists Responsible Life. The UK economy could be heading for its worst year for growth in almost a decade as uncertainty over Brexit lingers.

Contributor: Steve Wilkie | Published: 26 October 2018

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Many pension schemes are in funding surplus

Mercer’s 2018 Valuation Survey shows a significant rise in the number of schemes in surplus on funding assumptions: 37 percent compared to 27 percent in the 2015 Survey. Integrated Risk Management (IRM) has become a key part of trustees’ decision-making processes. Life expectancy remains the great unknown risk for many pension schemes.

Contributor: Simon Turner | Published: 17 October 2018

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Raiding the pensions cookie jar

It is rumoured the UK Treasury has a small red box on the wall, with a glass lid inscribed ‘In case of Budget emergency, break glass’. Inside it keeps the UK’s pensions tax relief. With spending promises for the NHS and elsewhere to be honoured, the tax reliefs handed out to pension savers are once again under scrutiny.

Contributor: Tom McPhail | Published: 16 October 2018

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DC schemes urged to reconsider default investment design

Four in five (81 percent) employees trust their employer to make good investment decisions on their behalf. With over 90 percent of pension savers investing in the default of their DC scheme, employers must accept the responsibility to offer defaults that help members achieve their lifetime savings goals.

Contributor: Claire Felgate | Published: 9 October 2018

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Government’s role in pensions dashboard crucial

The so-called ‘pension dashboard’ – initially due to launch in April 2019 – was intended to collate information relating to private, state and workplace pensions schemes and allow savers to see their pension pot in one central online portal. Contributor Jonathan Lima-Matthews.

Contributor: Jonathan Lima-Matthews | Published: 8 September 2018

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Calls for Pension tax relief to broaden savings base

Britain’s household savings ratio has plummeted to 4.9 percent, the lowest since records began in 1963. With savings rates falling and the top 1 percent of earners receiving double the pensions tax relief of half the working population, the time has come to reform the system.

Contributor: Michael Johnson | Published: 28 August 2018

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Pension deficit of UK’s top 350 companies almost halved from £62bn to £35bn

The pension deficit of the UK’s top 350 companies has almost halved from £62bn to £35bn, now accounting for just 17 percent of total profits, compared to 70 percent 18 months ago. This bucks the trend since 2011 where deficits steadily increased as a proportion of pre-tax profits from a low of 25 percent.

Contributor: Nick Greggs | Published: 11 August 2018

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Defined benefit pension transfers under the spotlight

Defined benefit (DB) pension failures have hit the news headlines recently bringing the support that members receive under the spotlight. WEALTH at work is calling for more to be done to protect members from the risks around DB pension transfers. Jonathan Watts-Lay comments on what schemes, trustees and employers could do better.

Contributor: Jonathan Watts-Lay | Published: 4 July 2018

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New proposals for Pension trustees cause mixed reactions

"Responding to the Department of Work and Pensions’ consultation, Pension trustees: clarifying and strengthening investment duties “Whilst the proposals may be eye-catching at first glance, the content of the proposed regulatory changes is somewhat more modest.

Contributor: Stuart O'Brien | Published: 30 June 2018