The majority (78%) of savers aged between 25 and 34 support the lifetime provider model, a survey from Cushon and the Social Market Foundation (SMF) has found.
Five pension providers have been awarded a gold rating for financial wellness, without open finance, in the fourth annual Financial Wellness Ratings for Workplace Pension Providers survey.
The consolidation of pension funds can bring increased benefits but must be managed effectively and “replicate” the benefits of strong employer connections, a session at the Pensions and Lifetime Savings Association (PLSA) Investment Conference has said.
This week’s top stories include the Department for Work and Pensions publishing the long-awaited defined benefit funding regulations, a £400m buy-in transaction between a UK technology firm and Just Group, and the Workers Pension Trust being consolidated into the Cushon Master Trust.
The Workers Pension Trust (WPT) has consolidated into the Cushon Master Trust, in a move that “sets a precedent” for delivering consolidation and scale in the defined contribution market.