Resources

Service Innovation in DC Master Trusts

The PMI’s DC Master Trust Group was established to help overcome barriers to offering a good service to members. As part of bringing the group together, the decision was made to include not just Master Trust providers but representatives to the supply chain. The delivery of good services requires many different components to work together in harmony. Without bringing together the component parts, we would not be able to work towards overcoming the barriers.

Does DC need de-risking?

When pension de-risking is mentioned, our minds immediately think of defined benefit (DB) schemes. This, of course, is a big issue and needs significant attention. However, we shouldn’t forget about defined contribution (DC) when de-risking. In fact, undertaking a DC derisking review could provide substantial rewards for both Trustees and Employers, including freeing up valuable resource, and saving money.

The Work and Pensions Committee’s pensions inquiry

The pensions freedoms were introduced five years ago. They relaxed rules on how pensions can be taken, and gave those in later life new choices on what to do with their savings. With new freedoms, however, have come new challenges for consumers and for the industry. Savers who left to navigate a complex market have sometimes paid a very high price.

In the summer, the cross-party House of Commons Work and Pensions Committee launched a three strand inquiry to examine the effects of the 2015 shake-up, and how it is working for savers.

Covenant-led de-risking: why covenant must be at the heart of all de-risking plans

To say defined benefit (DB) schemes have been on a journey over the last decade is an understatement. Most private sector schemes have closed and become a legacy liability, while falls in market-expected returns have caused many deficits to spiral.

Getting the message across

It is one of the verities of the Covid-19 pandemic that it has accelerated existing trends – in technology, home-working, internet shopping and so on. We have all had to learn new skills, or hone existing ones, to master Zoom meetings etc.

Pensions is more than just investments, at least for me!

My first stint with the pensions industry started in the year 1997, when music from Elton John, the Spice Girls and the Backstreet Boys were topping the charts!