October
2003
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Retirement
Association relaunch
The Employer's Retirement Association (ERA) was re-launched
today at an event attended by the minister of state for pensions,
Malcolm Wicks |
31/10/03 |
ACA
makes PFP recommendations
The government's
proposed Pension Protection Fund (PPF) should be designed
to encourage good funding and investment practice and minimise
moral hazard, according to the Association of Consulting Actuaries
(ACA) |
31/10/03 |
New
tool for contribution adequacy
A new tool has been launched to help providers assess whether
adequate pension contributions are being made to meet a scheme's
target income |
30/10/03 |
Wraps
on the rise
Wraps are expected to become part of everyday business for
IFAs, according to a study conducted by Abbey for Intermediaries |
30/10/03 |
Consultation
on EU occupational directive begins
This week saw start of a two-month consultation period on
the EU Occupational Pensions Directive which will put in place
a common framework to allow cross-border development of occupational
pension schemes |
29/10/03 |
Plans
to end giro cause backlash
Plans to pay all state benefits directly into bank or Post
Office Card accounts are being put in place with the new system
likely to start in April 2005 |
29/10/03 |
Friends
Provident reports strong new business figures
The Life and Pensions division of Friends Provident has
reported a significant rise in new business in the first nine
months of 2003 |
28/10/03 |
Report
highlights management fee rise
Fund management fees are higher now than they were four
years ago, according to a study by Mercer Investment Consulting
|
27/10/03 |
Consolidation
hampered by regulation
Though a wave of consolidation across funds, service providers
and manufactures is expected and desired regulation is stifling
the process, according to PricewaterhouseCoopers |
27/10/03 |
E-commerce
initiative signs up providers
An industry-wide initiative has been launched aimed at cutting
costs and improving efficiencies for product providers, advisers
and consumers |
27/10/03 |
Government
needs to encourage saving in the young
The government should make it easier for young people to
save by allowing them to take their pension with them when they
change jobs, according to the Trades Union Congress |
24/10/03 |
Raising
state pension age shouldn't be ruled out
Though the UK is not ready to raise the state pension age
(SPA) it should not be ruled out as a policy option, according
to a new report from the Pensions Policy Institute |
24/10/03 |
| Long-term
contributors to be given priority on wind up
Draft
regulations to make the distribution of assets upon scheme
wind-ups fairer were issued by the government this week |
23/10/03 |
Pension
financing causing concern among CFOs
A
high proportion (32%) of European finance directors are "significantly
concerned" that pension plan financing will negatively
impact on their company cashflow, according to a survey conducted
by HR consultancy Towers Perrin |
23/10/03 |
| Opra
guidelines simplify whistleblowing
Simpler
guidelines for statutory whistleblowers have been published
by the Occupational Pensions Regulatory Authority (Opra) |
23/10/03 |
Flexible
benefits key to retaining staff
Fifty
per cent of employers would be more likely to stay with their
employer if they had a flexible benefits package, according
to a survey published today |
22/10/03 |
New
tool to help IFAs determine risk profile
A
new risk profiling tool has been launched to help financial
advisers set up the most appropriate investment strategies
for their clients, based on their risk profile. |
22/10/03 |
GMP
proposals don't go far enough say experts
Plans
to simplify antiquated rules relating to contracted-out pension
schemes were unveiled by the government earlier this week,
yet more detail is needed say the experts |
22/10/03 |
Retirement
crisis looms for under-saving Britons
Over one third of working people will face a crisis in retirement
according to new research released by the Association of British
Insurers |
21/10/03 |
Pensions
minister issues employer challenge
Employers have been challenged by the minister for pensions
to make clear the pension packages they have on offer to current
and prospective employees |
21/10/03 |
FTSE
100 pensions deficit wiped out by 2004
The FTSE 100 pensions deficit could be wiped out by the
end of 2004, according to pensions advisers Aon Consulting
|
20/10/03 |
ICI's
fund protection highlights pensions threat
Chemical company ICI's announcement last week of its intention
to set aside £250 million in company assets to act as
insurance for its pension scheme, highlights the pensions threat
to UK plc according to Deloitte and Touche LLP |
20/10/03 |
Scheme
members should share protection cost, argues CBI
The government has been called on to radically rethink its
plans to protect pension scheme members against company insolvency
|
17/10/03 |
Means-tested
benefit may spell the end of saving
The new means-tested benefit which came into effect this
month means that couples who fail to amass a savings of over
£180,000 might as well not even bother, according to calculations
carried out by Mercer Human Resources |
17/10/03 |
GE
Life to join “the Process”
GE Life has announced plans to enhance its Immediate Care
Fees Plan by joining the Common Process for Immediate Care Plans
|
16/10/03 |
Henderson
commended for presenting best strategy
Henderson Global Investors was announced corporate winner
of long-term mandate competition this week from a total of 88
entries |
16/10/03 |
More
active management needed to improve returns
Pension funds need active management with less benchmark
constraints and trustees should be putting more consideration
into diversification through non-correlated assets, according
to Schroders |
15/10/03 |
Employers
urged to close DB schemes
A major campaign has been launched this week to encourage
employers to close their defined benefit (DB) schemes to all
members in order to survive |
14/10/03 |
Winterthur
launches new balanced fund platform
IFAs can now access a new rigorously selected range of investment
funds with the launch of Winterthur Life's Tailored Selection
open architecture platform |
13/10/03 |
JLT
boosts SIPPs
Jardine Lloyd Thompson (JLT) has acquired AMP's SASS and
SIPP operations
|
13/10/03 |
Tories
promise abolition of means testing
An end to means testing by increasing basic state pension
in line with earnings was just one of the proposals for pension
reform laid down by the Conservatives at this week's party conference
|
09/10/03 |
FSA
consultation met with mixed reaction
Restrictions proposed in the Financial Service Authority's
(FSA) consultation paper on bundled brokerage and soft commissions
have been met with mixed industry reaction |
09/10/03 |
Stakeholder
gets another bashing
Stakeholder was under the spotlight again today as new research
revealed that schemes have failed to research their target audience
|
08/10/03 |
Tax
breaks will boost small company benefits
Nearly half of all small businesses would be willing to
increase benefits to their employees if the government offered
tax breaks for doing so, according to research commissioned
by IFA Promotion |
08/10/03 |
Opra
publishes guide update
The Occupational Pensions Regulatory Authority (Opra) has
published an updated version of its guide to the minimum funding
requirement (MFR) |
07/10/03 |
Eurozone
property investment looks promising
Crossborder property investment, especially in the eurozone,
is increasingly being seen as the way forward for funds, according
to Aberdeen Property Investors' (API) latest European bulletin
|
06/10/03 |
Online
registration technology launched by Friends Provident
Employees can join company pension schemes at the touch
of a button with the launch of a new facility from Friends Provident |
06/10/03 |
Pension
credit dogged by criticism
Today saw the controversial Pension Credit come into force
amid a flurry of criticism |
06/10/03 |
Industry
reacts to lump sum deferral option
Individuals who defer their State pension until age 70 could
receive up to £30,000 as a lump sum in a move that was
confirmed at the Labour party conference this week |
03/10/03 |
Step
closer towards compulsion
Unions took a small step today in their fight to force employers
to contribute to pension schemes at this week's Labour party
conference in Bournemouth |
03/10/03 |
Government
back-tracks on promise
Promising plans to protect workers whose schemes are subject
to wind-up have received a set-back as the government continues
to drag its feet on the issue |
03/10/03 |
Bundling
and soft commission restrictions welcomed
Restrictions proposed in the Financial Service Authority's
(FSA) consultation paper on bundled brokerage and soft commissions
have been welcomed by the National Association of Pension Funds
|
01/10/03 |
American
regulations causing pension demise
Widespread pension underfunding in America currently represents
just 4% of corporate assets but government regulations are contributing
to the demise of pension schemes, according to new research
from Watson Wyatt Worldwide |
01/10/03 |
