From IDS Pensions Bulletin 211, Dec/Jan 2008

Company news

• Siemens proposes to close its final salary scheme to further accrual
• Regulator appoints independent trustees to GEC 1972 Plan
• Nationwide switches from average salary to GPP

Regulatory round-up

• National Insurance Contributions Bill
• Regulating contract-based pensions

Focusing on defined contribution schemes

As it becomes the norm for employers only to offer membership of defined contribution pension arrangements to new employees, a recent survey from Mercer comments that employer contributions to DC schemes, at 6.8 per cent of pay, remain too low to support employees in retirement.

Comment

Ralph Frank, Head of Solutions at Cardano UK, looks at trustees’ involvement in decision making in the investment strategy of the funds they run.