June
2004
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Pension
surveys on their way
The Occupational Pensions Regulatory Authority (Opra) has
warned companies that time is running out to have minimal legal
pension provision in place |
29/06/04 |
Mandate
Round Up
Some of the bigger mandates awarded in June |
29/06/04 |
Great
State of affairs
State Street Global Advisors (SSgA) increased its UK assets
under management by 85% during the 12-month period ending March
31, 2004 |
29/06/04 |
Employers
urged to make more of an impact
Companies are being urged by the government and the wider
pensions industry to get more involved in the process of pension
provision and advice, with the launch of a new Pensions Information
Pack aimed at employers and employees |
29/06/04 |
DB
closure enters phase two
Not content with denying entry to defined benefit schemes
for new hires, companies are now moving into a 'second stage'
of final salary scheme closure which will see pensions arrangements
changed for existing employees as well, according to research
from Towers Perrin |
28/06/04 |
Sir
Derek seeks feedback for actuarial review
A consultation document has been published by Sir Derek
Morris as part of his review of the actuarial profession which
he is conducting on behalf of the government |
28/06/04 |
Local
authority pension woes
Local authority funds across the UK are feeling the effects
of underfunding, according to recent research by asset management
provider, SEI Investments |
26/06/04 |
Property
investment opportunity
Insight Investment is launching a listed property investment
company, Insight Foundation Property Trust Limited |
25/06/04 |
New
SIPP plans launched
Two new SIPP plans, suitable for retirement funds of £100,000
or more, are on offer from pensioneer trustee firms D A Phillips
& Co and Hornbuckle Mitchell Trustees |
24/06/04 |
First
steps towards new state pension
A new working group has been set up by the NAPF to look
into the practicalities of implementing a new, simplified "Citizen's
Pension", which would replace the current complex state
pension system |
24/06/04 |
IFA
awareness of wrap products sees significant growth
The UK is Europe's fastest developing market for wrap accounts,
according to a report from independent market analyst Datamonitor
(DTM.L) |
23/06/04 |
Standard
Life begins demutualisation project
The Board of Standard Life has announced that John Hylands,
the group finance director, will lead the project to demutualise
the company |
21/06/04 |
Pensions
landscape not so bleak, says Aon
Though headlines tend to proffer a much bleaker view, the
majority of the UK's top companies' pension funds are not underfunded
to a point where they threaten the sponsoring employer, according
to new research from a leading consultancy firm |
21/06/04 |
Mixed
response for stakeholder cap rise
The
controversial 1% cap on pension products has been raised this
week to 1.5% in a decision that has sparked mixed reactions
from the pensions industry |
18/06/04 |
Zurich
IFA goes live with UNIPASS
Zurich IFA Group has followed in the footsteps of numerous
other UK life companies (including Friends Provident, Prudential
and Scottish Widows) by signing up to the UNIPASS service, currently
being used by more than 12,000 IFAs |
17/06/04 |
Brown
urged not to raise stakeholder cap
The
controversial 1% cap on pension products has been raised this
week to 1.5% in a decision that has sparked mixed reactions
from the pensions industry |
16/06/04 |
Industry
urged to pull together to secure future
A long-term agenda of improvement for the UK investment
system was put forward this morning in an effort to restore
the lack of trust prevalent in the industry today |
15/06/04 |
Directors
say no to post-A-day cash alternatives
Most company directors would prefer to keep their existing
final salary pension rather than switching to a defined contribution
or cash alternative after 6 April 2006 (A-day), according to
research from actuarial and consultancy firm Lane Clark and
Peacock |
15/06/04 |
New
tool for enhanced annuities
Dunstan Thomas has launched a tool to assist annuity providers
calculate bespoke, enhanced annuity rates based on health and
lifestyle factors |
11/06/04 |
Pensions
Bill could cost companies £400m plus
The Pensions Bill could cost companies an extra £400m
a year or more despite government estimates calculating a savings
of £80m, according to Watson Wyatt |
10/06/04 |
Royal
London plans face-to-face sales closure
Life and pensions company Royal London may be closing its
face-to-face sales operation for economic reasons, creating
in the region of 400 redundancies across the country |
09/06/04 |
