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Members will be “shocked” to see the value of their defined contribution (DC) retirement savings plummet due to poor performing investment strategies geared towards annuities, LCP warns.
The industry has mixed views on the government’s plans to remove the cap on performance fees for defined contribution (DC) schemes.
Kate Everett, the mother of 14-year-old cyber-bullying victim Dolly, who took her own life in 2018, told an inquiry it should consider whether young people need a licence to use social media.
Savers want to know what their pension is costing them with figures presented on annual statements, cross-industry research initiative has found.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download Find whitepapers