Tag: pension schemes

Fund managers’ charges eroding some pensions

Fund managers’ charges eroding some pensions

The charges levied by some fund managers could be eroding defined contribution pension schemes by up to 17 per cent, according to a report by the National Audit Office (NAO). The watchdog is calling for fund managers to be more accountable for how they manage the schemes, following a study into the regulation of defined [...]

July 11, 2012 | 0 Comments More
Women disadvantaged by auto-enrolment changes

Women disadvantaged by auto-enrolment changes

Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]

February 8, 2012 | 0 Comments More
Final salary pension scheme closures on the up

Final salary pension scheme closures on the up

According to the National Association of Pension Funds (NAPF), final salary pension scheme closures are on the increase. These types of schemes are becoming significantly more expensive to operate and costs are likely to rise. As a result, the rate of decline appears to be picking up, said the NAPF. The Association said 17% of [...]

March 9, 2011 | 0 Comments More
PPF: DB pension scheme deficit falls in December

PPF: DB pension scheme deficit falls in December

Figures released by the Pension Protection Fund (PPF) revealed an improvement in the UK’s 7,400 defined benefit (DB) schemes in December, with the collective deficit falling to £33 billion in December from £92.5 billion the previous month. The PPF said not only is this is an improvement on the month, it is significantly better than [...]

January 13, 2010 | 0 Comments More
Report reveals more pension woes

Report reveals more pension woes

Fears over the future of final salary pension schemes has reared its ugly head again after a report from the Association of Consulting Actuaries (ACA) revealed that nine out of 10 such schemes are now closed to new members. The ACA, which questioned over 300 companies, found that employers continue to shy away from these [...]

January 4, 2010 | 0 Comments More
Final salary pension schemes face extinction

Final salary pension schemes face extinction

Final salary pension schemes may not have breathed their last breath, but they are certainly on the throes of extinction, an industry expert has claimed. Dr Ros Altmann, a former academic and independent expert on pensions policy and retirement, said when final salary pensions were first conceived, it was assumed they would be funded through [...]

August 20, 2009 | 0 Comments More
Large employers set to offload pension schemes

Large employers set to offload pension schemes

According to actuarial consultancy, Lane Clark and Peacock (LCP), some of the UK’s largest employers are likely to offload their pension schemes during the next 12 months. LCP said the number of companies offloading their pension schemes to insurers has escalated over the last 6 months and the trend looks set to continue. The pension [...]

May 8, 2008 | 0 Comments More