Defined Contribution

State Street Global Advisors has appointed Nigel Aston as managing director and head of UK defined contribution.

The use of asset-backed contributions to fund schemes will double over the next three years after HM Revenue and Customs clarified its stance on the arrangements, says Deloitte.

Enhanced annuity sales exceeded £1bn in the second quarter of 2012, according to research by Towers Watson.

Travis Perkins Group has appointed Standard Life as its pension provider in the run-up to automatic enrolment.

Hidden charges can more than double the cost of diversified growth funds, according to an LCP survey.

House of Fraser has picked an Aviva group personal pension scheme for its 7,000 UK employees ahead of the introduction of auto-enrolment later this year.

The National Association of Pension Funds has hit back at "completely absurd" claims it is watering down its code of conduct on charges.

AEA Technology has suspended contributions to its defined benefit scheme as it seeks an emergency restructuring after being "overwhelmed" by its growing pension liability.

Confidence in defined contribution pensions has fallen so low that the majority of workers would choose an inferior financial reward over a 10% boost to their employer contribution, says Hymans Robertson.

Dalriada Trustees has launched a High Court action against three investment companies and two former trustees in a bid to recover £18m of assets invested in two alleged pension liberation schemes.