News in brief – 17 June 2022 – Pensions Age Magazine
[ad_1] The trustees of the Royal Mail Defined Contribution (DC) Plan have chosen Destination Retirement from Hub Financial solutions as the financial … [ad_2] Source link
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TPR lays CDC code of practice before parliament
[ad_1] The Pensions Regulator (TPR) has laid its new code of practice for the authorisation and supervision of collective defined contribution (CDC) schemes before parliament. This should allow the code to complete its legislative passage through parliament in time for trustees to apply for authorisation to operate a CDC scheme from 1 August, as set…
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Age-related contributions a potential ‘game changer’ for CDC
[ad_1] Allowing the use of age-related contributions in collective defined contribution (CDC) schemes could be a “game changer” in making CDC more appealing to a wider range of schemes and ensuring fairness for younger savers, according to LCP. Pensions Minister, Guy Opperman, yesterday (28 March) signaled his intent to hold a consultation on potential options…
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Dormant Assets Bill receives Royal Assent
[ad_1] The Dormant Assets Bill has received Royal Assent, meaning the government’s Dormant Assets Scheme has been expanded to cover additional assets from certain pensions and investments. The passage of the bill is expected to unlock up to £800m for use in charitable causes. Dormant assets held via vehicles including savings endowments, investment bonds, income…
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News in brief – 18 February 2022 – Pensions Age Magazine
[ad_1] News in brief – 18 February 2022 · Recent Stories · Royal Mail pushes ahead with CDC plans following member consultation · TPO partially upholds … [ad_2] Source link
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Royal Mail pushes ahead with CDC plans following member consultation
[ad_1] Royal Mail Group (RMG), the Communication Workers Union (CWU) and Unite the Union have confirmed plans for a new collective pension scheme following a successful consultation process, with the scheme to be launched by the end of 2022 or early 2023. The positive outcome to the consultation, which was launched last year, has been…
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Employer support for CDC on the rise
[ad_1] Interest in collective defined contribution (CDC) pension schemes is growing, with 58 per cent of employers supporting a CDC option being available, a 6 percentage point increase on 2020, according to research from the Association of Consulting Actuaries (ACA). The ACA’s 2021 Pension trends survey also found that 54 per cent of employers supported…
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Guest comment: The road to CDC – Pensions Age Magazine
[ad_1] In future Royal Mail will be seen as the harbinger, not some isolated outlier on the pensions landscape. Those who bewail the potential for … [ad_2] Source link
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GMB Union joins firefighters and doctors in seeking Judicial Review over pensions
[ad_1] GMB Union has launched a Judicial Review against the Treasury over its use of the cost control mechanism on public sector pension schemes. The announcement comes amid similar moves by the British Medical Association (BMA) and Fire Brigades Union (FBU). GMB claimed that, since 2015, more than four million people working in the NHS,…
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Royal Mail to offer additional contributions for CDC scheme lump sum payments
[ad_1] Members of the Royal Mail Collective Pension Plan (RMCPP) who choose to save for an additional lump sum payment will receive an extra 1 per cent in employer contributions, its half-year report has revealed. The RMCPP will comprise a collective defined contribution (CDC) section and a defined benefit lump sum (DBLS) section. The new…
