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Peers criticise £25bn scale test as Pension Schemes Bill nears end of HoL scrutiny


By Callum Conway

House of Lords (HoL) peers have intensified scrutiny of the government’s £25bn scale threshold for defined contribution (DC) schemes, as the Pension Schemes Bill approaches the final day of committee-stage debate.

During the fifth day of Grand Committee, debate focused on Clause 40, which would require main scale default arrangements in workplace DC schemes to reach at least £25bn in assets or begin consolidating


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Industry urged to 'break cycle of failed ideas' on pensions adequacy

The pensions industry risks “sleepwalking into another generation of under-saving” unless it experiments with new approaches to member engagement, People's Pension has warned

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Senior plc Pension Plan secures £180m buy-in with M&G

The Senior plc Pension Plan has completed a £180m buy-in with M&G, securing the pension benefits of over 3,000 members

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Majority of UK workers would boost pension saving if employers matched contributions

More than half (53 per cent) of UK employees would increase their pension contributions if their employer offered matching contributions, but just 14 per cent of small and medium-sized enterprises (SMEs) provide a matching structure, research from Penfold has shown

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Lack of prioritisation and affordability hampering Gen Z’s pension interest

Young people’s interest in contributing to a pension is being hampered by other priorities being seen as more important and a lack of affordability, according to the Society of Pension Professionals (SPP)

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UK workers pessimistic about retirement prospects

Workers in the UK are optimistic about all aspects of their personal and financial lives, except their plans for retirement, analysis from Fidelity International has revealed

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DCIF appoints new chair and vice chair

The Defined Contribution Investment Forum (DCIF) has named Lindsay Nickerson as its new chair and Anil Shenoy as its vice chair

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TPR urged to provide further guidance on consolidated CDC code

The Pensions Regulator (TPR) has been encouraged to provide further clarity on several aspects of its proposed consolidated code of practice for collective defined contribution (CDC) schemes
‘Guidance gap’ risks undermining targeted support as consultation closes

A potential 'guidance gap' could undermine the successful rollout of targeted support if reforms to pension modelling tools are delayed, EV has warned, as the Financial Conduct Authority’s (FCA) consultation on adapting its requirements for a changing pensions market closes
Union calls for RCPS closure to be halted amid Civil Service pension disruption

The Public and Commercial Services Union (PCS) has called for the closure of the Research Council Pension Scheme (RCPS) to be halted to avoid its members potentially being pulled into the Civil Service pension disruption
Blog: Roses are red, pensions are sensible

Callum Conway looks at why Valentine’s Day might be the perfect moment to swap roses for retirement planning

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The latest news in brief and mandates from the past seven days
Nuveen to acquire Schroders for £9.9bn

US-based investment manager Nuveen has agreed to acquire Schroders for £9.9bn, subject to regulatory approvals


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THE ROLE OF INSURANCE-LINKED SECURITIES (ILS) IN PENSIONS TODAY
Francesca Fabrizi discusses the role insurance-linked securities can play in both DB & DC schemes with Leadenhall Capital Partners senior managing director, Alistair Jones

Private markets – a growing presence within UK DC
Laura Blows discusses the role of private market investment within DC schemes with Aviva Director of Investments, Maiyuresh Rajah

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Podcast: From pension pot to flexible income for life
Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs

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