Defined contribution – Page 32
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Country ReportUK: Collective defined contribution pensions move up a gear
The first collective defined contribution pension scheme is set to launch after years of stop-start progress. But obstacles remain
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Country ReportUK: The long and winding road to consolidation
Brexit, COVID and other factors delay regulation that would enable commercial DB scheme consolidators to operate
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News
Rabobank to close CDC arrangement
The firm will instead introduce a separate DC arrangement in the run-up to the pension transition
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NewsUK roundup: Fidelity, Tumelo launch stewardship hub
Plus: Act quickly to lock in funding gains, says Hymans Robertson; LGIM reports on latest DC savers’ preferences
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Take account of stagflation in ALM studies, say consultants
The likelihood of stagflation has risen, but still insufficient funding ratio prevent pension funds from taking appropriate action
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German trade union, associations agree on first industry-wide DC pension model
Until the end of June BAVC and IGBCE will work out rules for a collective bargaining agreement to start a pure DC scheme
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APG lacks IT staff for pension transition
The shortage in IT staff has already led APG to delay a number of IT projects
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Co-ordinated UK industry campaign bids to crack pension engagement nut
15 providers and schemes support concentrated engagement season campaign being led by ABI and PLSA
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€500m VAT windfall for Dutch pension funds in new DC system
Pension funds will get a VAT exemption because the switch to DC transfers investment risks away from pension funds to their members
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Solidarity buffer to absorb inflation shocks in new Dutch pension system
The exact rules that govern the additional measure still have to be worked out
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Dutch funding ratios reach highest point in 10 years
The new high comes just as the country is preparing a shift to a DC system
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NewsDWP adds ‘disclose and explain’ proposals to DC illiquids boost agenda
Major DC consulation also reveals government plans to continue with charge cap reform despite opposition
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NewsCDC schemes could be extended to multi-employer funds, master trusts
Call for age-related contributions to be allowed in CDC schemes
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OECD adopts revised good DC design messages as recommendation
One of changes involves broadening message on pay-out phase beyond annuitisation
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FeaturesJoseph Mariathasan: India’s NPS reaches $100bn in assets
India’s state-run voluntary defined contribution New Pension Scheme (NPS) has reached a milestone of $100bn (€88bn) in assets and is likely to double in size every five years, according to renowned economist Ajay Shah. There are many lessons to be learnt from the success of the NPS, particularly for developing countries seeking to create pension safety nets for their populations from scratch.
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Opinion PiecesNotes from the Netherlands: Inflation could bolster pension reforms
The Dutch pension agreement, paving the way for a change from a defined benefit to defined contribution-type system, was concluded in the pre-COVID summer of 2019. But it is still waiting to be implemented, with the delay blamed on the protracted negotiations following Dutch parliamentary elections in March 2021.
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Book ReviewBooks – Demographics Unravelled: A broad and granular understanding of demographics
Amlan Roy’s contention in his new book Demographics Unravelled is that a wider and more holistic approach to demographics is necessary. An academic by background and a long-standing former head of global demographics and pensions research at Credit Suisse, Roy’s choice of focus in his book underlines his views.
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Country ReportProfile – Carola Schouten: New pensions minister to push for solidarity
The Hague’s first dedicated minister for pensions has a prodigious task ahead in implementing new collective DC framework
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Opinion PiecesEditor's letter: Could CDC provide a solution to the pension income problem?
This month sees the close of a consultation in the UK on a new code of practice for authorisation and supervision of collective defined contribution (CDC) pensions schemes. Trustees will be able to apply to set one up from August this year.
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FeaturesStrategically speaking – WTW: Democratising private markets
WTW’s ill-fated merger with Aon, announced at the outset of the pandemic in early March 2020, would have shaken up the corporate insurance brokerage market. It would also have created an outsourced CIO (OCIO) giant to compete with Mercer in terms of delegated assets under management (AUM).
