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Related Special Reports
...scheme members and sponsoring employers or local councils....
...There are always a lot of different interests to manage at the top of a pension plan, but the psychodrama between the board, plan members, the investment staff, the media, and local, regional and national...
...The pension plan reported an annual return of 5.8 per cent in the 12 months ending June 2023 following a negative 6.1 per cent in the previous year. That fell well below the 6.8 per cent target....
...First, public servants and their employers are sending £50bn into government coffers this year in the form of pension contributions....
...Pension plans for local authority staff in England and Wales will be asked to double their allocations to riskier assets under measures announced in the Autumn Statement aimed at unlocking tens of billions...
...A range of separate reforms aimed to create bigger and better-run pension plans, which are more suited to investing in higher growth, higher risk assets, such as unlisted companies....
...In addition, under the changes, minimum pension contributions from both employers and employees will gradually increase to 8 per cent of earnings from the first £1 of salary, rather than being based on 8...
...At the end of 2022 there were around 27,000 UK DC pension plans, with 85 per cent reporting fewer than 12 members. UK pension plans’ investment remains heavily focused on listed equities and bonds....
...Under the plans, by 2030 the majority of workplace pension savers would be in funds of £30bn or larger, signalling a big shift in the pensions market....
...The latest loss of $8.5bn in Texas comes after BlackRock tried to make inroads in the Republican state. 5....
...Under the rules of automatic enrolment, 8 per cent of an employee’s pensionable salary must be contributed to the workplace pension with at least 3 per cent coming from the employer....
...That didn’t deter Evanston from inviting me and my neighbours to vote last month on how to spend $3mn in American Rescue Plan funds. Turnout was a whopping 8.4 per cent....
...It bases its calculation on data for September, which saw inflation of 6.7 per cent and pay growth of 8.5 per cent....
...And in this tortured analogy, it’s public sector employers — places like schools, hospitals, local police forces etc — who need to source virtual nuts....
...The current 8 per cent minimum is made up of a 3 per cent contribution from employers and 5 per cent from employees. This would at least wound two birds with one stone....
...Pensions Poorly performing workplace pension schemes are to be banned from taking on new business under plans confirmed in the Budget....
...That year, the average contribution to a stocks and shares Isa was £8,690. The number of people who reach their existing £20,000 allowance is very limited....
...The planned move, reported by the Financial Times on Wednesday, is part of a four-year transition to a greener form of steelmaking at Tata’s UK steel operations, which employ 8,000 people, and involve sites...
...And the wild differences between the investment performance of defined contribution default funds of UK master trusts — a type of pension scheme where multiple employers in different areas pool their staff...
...Haviland said executives on the BCC’s business council would “no doubt” discuss immigration at the meeting, which will be attended by work and pensions secretary Mel Stride and Labour’s shadow pension secretary...
...As most of the 18mn people saving into workplace DC pensions stick with the default option, Hunt’s plans affect millions....
...So I will introduce new requirements for DC and local government pension funds to disclose publicly their level of international and UK equity investments....
...Local government pension schemes are funded through contributions from local authority workers and employers, with pension savers and taxpayers sharing the risk if investment returns are not as expected....
...And 95 per cent have fewer than 12 members, according to the Association of British Insurers, of which 84 per cent are executive pension plans rather than workplace schemes....
...The current chancellor is trying to rally investment in British business with heftier capital allowances and such innovations as multi-employer pension pots....
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