[ad_1] Pensions minister Emma Reynolds expects fresh legislation for collective defined contribution (CDC) schemes to be laid next year – but they are not expected to feature “directly” in the pensions bill. Speaking at an event marking the recent launch of Royal Mail’s CDC scheme – the first of its kind in the UK –…
[ad_1] Employers and their workers need an alternative to defined contribution (DC) if people are to live independent lives with dignity in retirement, according to former general secretary of the Communication Workers Union (CWU), Terry Pullinger. Pullinger was speaking of his involvement with the development of Royal Mail’s recently launched Collective Defined Contribution (CDC) scheme…
[ad_1] Reynolds gave the opening address at the Pension and Lifetime Savings Association (PLSA) annual conference in Liverpool today (15 October). “This reform will improve value for savers, remove costs from the system and also support investment opportunities.” Emma Reynolds The minister said the reforms set to be contained in the bill “could boost the pension…
[ad_1] The Department for Work and Pensions (DWP) is seeking feedback on the proposals until 19 November as it aims to “modernise” the pension system and build on the launch of Royal Mail’s CDC plan, which opened to members yesterday (8 October). The consultation is focused on rules for multi-employer CDC arrangements, as the current…
[ad_1] Under CDC schemes, employers and employees pay a fixed rate of contributions, collected in a manner similar to defined contribution schemes. Benefits are paid with a target in mind, similar to defined benefit schemes, but with the prospect of variable increases — and the possibility of decreases. The aim is to provide a pension…
[ad_1] Barnett Waddingham partner Hitchiner will replace Isio partner James Riley as SPP president on June 1. In an exclusive interview with Pensions Expert, Hitchiner set out his ambitions for his presidency, while Riley reflected on the organisation’s rising member engagement, and pondered missed potential for co-operation between the SPP, industry and the government. There’s…
[ad_1] In a blog post published on Monday, Counsell said the consultation will reflect regulations for CDC schemes that will be published by the Department for Work and Pensions and laid before parliament also in January. He said: “CDC schemes have the potential to change the pensions landscape by offering savers and employers a viable alternative…
[ad_1] In a blog post published on Monday, Counsell said the consultation will reflect regulations for CDC schemes that will be published by the Department for Work and Pensions and laid before parliament also in January. He said: “CDC schemes have the potential to change the pensions landscape by offering savers and employers a viable alternative…
[ad_1] In the document published on Tuesday, the MPs made a number of recommendations in other areas, such as increasing uptake of Pension Wise guidance by trialling automatic appointments, establishing equivalent investment pathways for trust-based schemes, and prohibiting transactions being made on pensions dashboards until they are well-established and trusted. The report dedicates significant time…
[ad_1] In his foreword, Opperman wrote that the new regulations “will be a huge step forward in providing a major enhancement to the existing occupational pensions landscape, and a third way forward between traditional defined benefit and post 2012 defined contribution schemes”. He continued: “By allowing pension scheme members to share investment and longevity risk,…