LRD guides and handbook July 2014

Workplace pensions - a guide for trade union reps

buy now

Introduction

Introduction [pages 4-6] (1,011 words)

The coalition government’s radical shake up of both workplace and state pensions is continuing at a startling pace, raising new issues for trade ...
Open access

Chapter 1

1. THE PENSIONS REVOLUTION [ch 1: page 7] (402 words)

The start of the pensions revolution can be accurately dated to 1 October 2012 when it was announced through a government press release headed: ...
Subscribers only

Beyond auto-enrolment [ch 1: pages 7-9] (231 words)

Regulating workplace pensions [ch 1: page 8] (301 words)

Quality [ch 1: pages 9-10] (345 words)

Pensions timetable — key milestones [ch 1: pages 10-11] (370 words)

Chapter 2

2. A BASIC FRAMEWORK FOR RETIREMENT PENSIONS [ch 2: page 12] (199 words)

The new basic framework for retirement pensions in the UK is taking shape. Auto-enrolment into workplace pensions is bedding in at larger workplaces, ...
Subscribers only

The new State Pension [ch 2: pages 12-13] (446 words)

Winners and losers [ch 2: pages 13-14] (285 words)

Transition [ch 2: pages 14-15] (639 words)

Pension age [ch 2: pages 14-15] (339 words)

Inequality [ch 2: page 16] (243 words)

2014 Budget changes [ch 2: pages 17-18] (523 words)

Implications for members [ch 2: page 18] (135 words)

The Guidance Guarantee [ch 2: pages 18-19] (312 words)

Auto-enrolment — developments to date [ch 2: page 19 ] (296 words)

Summary of employer duties under auto-enrolment [ch 2: page 20] (141 words)

Who is being auto-enrolled [ch 2: pages 20-21] (325 words)

Inclusivity [ch 2: page 21] (304 words)

What sort of pensions are workers being auto-enrolled into? [ch 2: page 22] (291 words)

Minimum contributions [ch 2: pages 22-23] (310 words)

Transfers of employment [ch 2: pages 23-24] (358 words)

Chapter 3

3. DEFINED BENEFITS SCHEMES - THE ‘FULL PENSION PROMISE’ [ch 3: pages 25-26] (648 words)

Defined Benefit schemes offer the “full pension promise”, according to the Pension Schemes Bill. They provide a predetermined retirement income ...
Subscribers only

New pension framework for the public sector [ch 3: pages 26-28] (745 words)

Public sector scheme highlights [ch 3: page 28] (247 words)

Local Government Pension Scheme [ch 3: pages 29-30] (521 words)

Regulating public sector pensions [ch 3: page 30] (89 words)

Public sector pension transfers [ch 3: pages 30-31] (517 words)

Managing private sector Defined Benefit pensions [ch 3: pages 31-32] (511 words)

Assessing risk in Defined Benefit pensions [ch 3: pages 32-33] (358 words)

Valuations [ch 3: pages 33-34] (231 words)

Sustainable growth [ch 3: page 34] (211 words)

Annual funding statements [ch 3: pages 34-35] (277 words)

Key funding principles for Defined Benefit schemes [ch 3: pages 35-36] (253 words)

Pensions protection [ch 3: page 36] (206 words)

“Derisking” [ch 3: pages 36-38] (736 words)

Contracting out [ch 3: page 38] (243 words)

Taking the legal route [ch 3: pages 39-40] (511 words)

Transfers out of Defined Benefit schemes [ch 3: page 40] (267 words)

Chapter 4

4. DEFINED AMBITION, SHARED RISK AND COLLECTIVE BENEFITS PENSIONS [ch 4: pages 41-42] (394 words)

Pension scheme membership is finally expanding again but in the private sector that generally means workers joining a defined contribution (DC) ...
Subscribers only

Scheme design left to pension providers [ch 4: page 42] (282 words)

Why consider a Defined Ambition or Collective Benefit pension? [ch 4: pages 42-43] (398 words)

Hybrid pensions [ch 4: pages 43-44] (274 words)

The Defined Ambition framework in more detail [ch 4: pages 44-45] (516 words)

Collective Benefits schemes [ch 4: pages 45-46] (464 words)

Collective Defined Contribution schemes [ch 4: pages 46-47] (349 words)

Potential take up [ch 4: page 47] (170 words)

Collective Defined Contribution pensions: The basic idea [ch 4: page 48] (349 words)

Chapter 5

5. PROMOTING QUALITY IN DEFINED CONTRIBUTION PENSION SCHEMES [ch 5: pages 49-50] (517 words)

Defined Contribution (DC) pensions offer no “pensions promise”, to use the language of the Pension Schemes Bill. But they are the kind that most ...
Subscribers only

Communications and information [ch 5: pages 49-52] (612 words)

Improving Defined Contribution contribution levels [ch 5: pages 52-54] (905 words)

The default investment fund [ch 5: pages 54-55] (672 words)

Choosing investments in a DC scheme [ch 5: pages 54-56] (449 words)

Review of investment strategy [ch 5: page 57] (161 words)

The Pensions Quality Mark [ch 5: page 57] (190 words)

Value for money and charges [ch 5: pages 57-58] (435 words)

Transparency and disclosure [ch 5: pages 58-59] (157 words)

Impact of charges [ch 5: page 59] (251 words)

Controlling charges [ch 5: pages 59-60] (497 words)

What members get for their money [ch 5: pages 60-61] (457 words)

Active member discounts [ch 5: page 62] (390 words)

Pension pots and refund options [ch 5: pages 62-63] (342 words)

Preparing for retirement [ch 5: pages 63-65] (853 words)

Annuities [ch 5: pages 65-66] (654 words)

Alternatives to annuities [ch 5: pages 67-68] (483 words)

Pension release and pension liberation fraud [ch5 : page 68] (207 words)

Chapter 6

6. GOVERNANCE [ch 6: page 71] (752 words)

Concerns about pension scheme quality, particularly the growing defined contribution (DC) section of the market (see Chapter 5) have persuaded the ...
Subscribers only

The trustee model [ch 6: page 71] (245 words)

Member-nominated trustees [ch 6: pages 71-72] (377 words)

Trustee knowledge and understanding [ch 6: pages 72-73] (508 words)

Improving governance in contract-based schemes [ch 6: pages 73-75] (829 words)

Independent Governance Committees [ch 6: pages 75-76] (536 words)

Voluntary management committees [ch 7: pages 77-78] (589 words)

Improving governance in trust-based schemes [ch 6: pages 78-79] (463 words)

Scheme size [ch 6: page 79] (93 words)

New requirements for trustees [ch 6: pages 79-80] (439 words)

Improving governance in master trust multi-employer schemes [ch 6: page 81] (496 words)

Investment and funding [ch 6: page 82] (185 words)

Influence [ch 6: page 82] (226 words)

Stewardship [ch 6: pages 82-83] (362 words)

Governance in the public sector [ch 6: pages 83-85] (483 words)

Local Government Pension Scheme [ch 6: pages 85-86] (564 words)

European-level changes [ch 6: pages 86-87] (240 words)

Further information

Further information [page 88] (208 words)

The main regulators of workplace pensions are: ...
Subscribers only