Pensions Aspects Magazine
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Not as easy as ABC: asset-backed contributions post-Covid-19
Asset-backed contribution arrangements (ABCs) are one of the more controversial innovations in Defined Benefit (DB) scheme funding. Under these agreements, typically between trustees and one or more entities within the sponsoring employers’ group, a payment stream is derived from an underlying asset and paid to the scheme over a set period, usually via a special purpose vehicle (SPV), in the form of a Scottish Limited Partnership (SLP), intended to avoid employer-related investment (ERI) rules.
Read moreReaching out in a changing environment
Around 9.6 million jobs, from 1.2 million different employers, were furloughed in the UK as part of the government’s job retention scheme1. With much of the workforce financially affected by Covid-19, providing financial education and guidance has never been so important, especially for those considering retirement. Jonathan Watts-Lay, Director, WEALTH at work answers some key questions surrounding this.
Read moreSmall pension pots: any solutions?
The twin factors of an increasingly mobile UK workforce and automatic enrolment have resulted in an ever-growing number of small deferred or ‘dormant’ Defined Contribution (DC) pots.
Read moreA name not a number
At my regular cafe, the staff not only know me by name but can also remember my mobile number. Not sure if that’s a good thing! My cafe logs names and mobile numbers manually for the purpose of Covid-19 tracing. I’m clearly drinking too much coffee.
Read morePlaying to win: how should DB trustees plan for the endgame?
Soon, Defined Benefit (DB) trustees will be obliged to set an endgame strategy to get to a long-term objective – whether low dependency on the employer covenant, buy-out with an insurer, or consolidation with a DB superfund. The Pensions Regulator (TPR) will expect trustees to aim for low dependency by the time schemes are significantly mature. How should trustees play this daunting game?
Read moreHow pensions administration used technology to rise to the challenge of lockdown
March 2020. We’d got winter out of the way and we could all start looking forward to the joys of springtime, maybe book a holiday for the summer, when BOOM.
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