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...Officials briefed on the proposals said the plan for geographical disclosure would apply to defined contribution funds, overseen by the FCA, rather than defined benefit funds, which are regulated by The...
...After years of paying billions in deficit contributions, many employers are now reporting large surpluses in their company defined benefit plans....
...More recently employers have opted for cheaper defined contribution schemes, where members have no certainty over what income they will get in retirement....
...In a move that will increase pressure over funds with significant allocations offshore, the chancellor confirmed he would introduce a new requirement on defined contribution pension funds, and local authority...
...The $38tn US retirement system is one of the world’s largest, and US employers were among the first to shift from defined benefit pensions to defined contribution plans....
...UK chancellor Jeremy Hunt last year grabbed headlines with efforts to channel more defined contribution funds into private companies....
...The contrast between the defined contribution schemes of private companies and the inflation-linked defined benefit schemes of the public sector has become increasingly stark....
...The pension reforms are part of Hunt’s efforts to stimulate the economy and will include a requirement for so-called defined contribution pension funds to disclose from 2027 how much they invest in the UK...
...This is particularly jarring for savers with defined contribution pension schemes. Savings companies may, in some cases, have transferred their nest eggs into bonds at the worst possible time....
...The proposals include a requirement for defined contribution pension schemes to disclose from 2027 how much they invest in the UK....
...Known as defined contribution plans, or 401k schemes, they put the onus on employees rather than leaving companies on the hook for future payments....
...Its removal allowed defined contribution pension investors to jettison any concerns of a tax charge should they breach the limit by picking a fast-growing fund or portfolio of shares....
...Employers’ access to billions of pounds of surpluses in UK company pension funds would be eased under proposals set out by the government on Friday....
...“Many defined contribution scheme members lack the financial education and confidence to choose their own pension provider....
...The fact that defined contribution pensions fall outside inheritance tax calculations adds to the advantages....
...More than half of BlackRock’s $10tn in assets under management are retirement savings, including institutional pension funds, corporate defined contribution plans known as 401(k)s and individual accounts...
...The government is consulting on proposals to enable employers to use surplus funds built up in defined benefit plans. These schemes currently serve around 10mn members....
...Pension reforms: The chancellor has announced pension fund reforms, including a requirement for defined contribution funds to disclose their level of investment in the UK and publicly compare their performance...
...The Pension Protection Fund’s Purple Book — the UK’s almanack of private sector defined benefit pensions — dropped on Wednesday....
...system, a pioneering, privately managed defined-contribution scheme that started in 1980, was initially regarded as the gold standard among retirement schemes....
...This only leaves the issue of how to persuade the civil service and others to forego their current benefit structure to join the majority of private sector employees in defined contribution arrangements....
...After all, these underpin the value of everything from defined benefit pension rights to defined contribution lump sums, life insurance policies, wealth management and many other products....
...But their job-hopping is causing a headache in the pensions market. Britons are jointly collecting tens of millions of defined contribution pension pots....
...The Pension Protection Fund announced on Thursday that the levy it collects from eligible “defined benefit” schemes to help cover compensation payments to members of failed company retirement plans will...
...benefit pension funds....
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