Analysis by the UK government has shown charging in both trust and insurance defined contribution (DC) schemes stands higher than estimates – and on the cusp of, or above, a proposed charge cap.The Department for Work & Pensions (DWP) conducted more than 1,300 interviews with trust and contract schemes, as well as the 11 largest insurance DC providers in the UK.Through its research, and analysis of scheme data, the department found the average annual charge for members was 75 basis points in trust schemes and 84bps in insurance schemes.Previous estimates by the Association of British Insurers (ABI), a lobby group for insurance-based pension providers, said the average charge among its members was 52bps. Average figures also differed significantly when split by the size of the scheme.A small insurance scheme (six to 11 members) was paying as much as 91bps, while a trust scheme (with 12-99 members) was paying 94bps.Average annual charges fall as scheme size increases, the government said.An insurance scheme with more than 1,000 members fell below the 75bps threshold recently touted by the DWP.Charges for the largest trust schemes marginally fell below those of the larger contract-based schemes, with an average charge of 42bps.The government had been consulting on implementing a cap on member charges within DC schemes.The cap, which was initially expected to be between 50bps and 100bps, was aimed at schemes used for the rollout of auto-enrolment, with expectations for its application across all schemes.However, the cap was expected to be implemented by April this year, until it was announced by pensions minister Steve Webb that complications had forced the government to delay by at least a year.This sparked a backlash from opposition ministers in the UK Parliament, amid accusations the government had given in to vested interests in the insurance industry.In its research, the department added that the size of the scheme, along with adviser commissions, contributions and when the scheme was set up, impacted the most on charging levels.Trust schemes set up before 1991, on average, had a higher charge by 10bps to those set up after 2001.The difference between schemes in the insurance sector was 20bps.The use of active member discounts (AMDs), which results in non-contributory members facing additional charges, and another aspect the current government aimed to abolish, were also analysed.Government research showed only 3% of trust schemes operated such a policy, with marginally more insurance providers doing so, at 10%.On average, non-contributory members faced an additional 38bps charge in their DC fund compared with active members.
by Tracy McCue, Sumner Newscow â€” Postponements for Friday.â€¢Skate night at New Spirit Fellowship at 715 N. Woodlawn is cancelled for tonight. â€¢The Wellington Public Library is closed Friday. Will open Saturday from 9:30 a.m. to 4 p.m.â€¢The Wellington vs. Circle High School games have been cancelled. The JV and C team seasons are over. Wellington varsity teams will now migrate into the sub-state tournaments.If you have a cancellation or postponement ofÂ an event due to the weather, e-mail us atÂ [email protected]Â or make a mention in the comment section below. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments (6) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. -1 Vote up Vote down atlarge · 390 weeks ago Why is the city library closed? The other city offices are open! Report Reply 0 replies · active 390 weeks ago +3 Vote up Vote down NO ONE SPECIAL · 390 weeks ago LITTLE LADIES WITH CARS RUN THE LIBRARY… GIVE’M A BREAK. Report Reply 0 replies · active 390 weeks ago +2 Vote up Vote down Jim · 390 weeks ago probably because they are volunteer workers. Report Reply 0 replies · active 390 weeks ago 0 Vote up Vote down Cindy zoglmann · 390 weeks ago Is anyone doing snow removal. I need to hire someone to clear my driveway. Report Reply 0 replies · active 390 weeks ago +1 Vote up Vote down Bill · 390 weeks ago The library is not the city library. They have no city benefits and have their own policies. Report Reply 0 replies · active 390 weeks ago 0 Vote up Vote down Disgusted · 389 weeks ago Why does the city snow clearing trucks have to drive so FAST and throw snow up against cars and block them in and block driveways. They have no consideration for anyone else. Some residense’s have snow and ice thrown up on their property 15 to 20 feet. People have complained off and on for years, but it does no good. They could slow down and just push the snow and ice to the curb. Report Reply 0 replies · active 389 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments
K-State Research and Extension-Sumner County is seeking qualified applicants for a full-time office professional. Â Applicants need computer skills and financial bookkeeping skills. Â Applications are available at 320 N. Jefferson, Wellington and will be accepted until the position is filled. Â K-State Research and Extension-Sumner County is an equal opportunity provider and employer.The following link is the Sumner County Extension website where you will find the Office Professional Job Description followed by the Application for Employment: Â Â www.sumner.ksu.edu.