September 2003
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Steps
must be taken to avert “pension crisis”
The Association of British Insurers (ABI) is calling for
the government to take urgent steps to “avert a full-scale
pension crisis” |
30/09/03 |
Needless
charges sapping pension funds
Around two million people in high charging personal pensions
are needlessly paying up to £788 million a year, according
to new findings from Close Wealth Management |
30/09/03 |
"Cautious
optimism" hampered by government proposals
Larger employers are showing signs of cautions optimism
after a difficult period for UK pensions but they see current
proposals for government legislation as the most significant
threat to the health of their pension funds, according to new
research from Aon Consulting |
29/09/03 |
Schroders
launches property fund of funds
An indirect property fund available to both private and
institutional investors has been launched by Schroder Property
Investment Management Limited |
29/09/03 |
FSA
targets IFAs in precipice bond investigation
The Financial Service Authority's (FSA) decision to clamp
down on the mis-selling of precipice bonds by targeting IFAs
is unlikely to lead to a pensions-style review, according to
law firm Reynolds Porter Chamberlain |
29/09/03 |
People
“dangerously unaware” of long-term care options
Care fee annuities are gaining in popularity over long-term
health care insurance but people remain “dangerously unaware”
of their financial options, according to The Care Funding Bureau
|
25/09/03 |
Improved
accessibility to Ombudsman's Determinations
The web service po-info, which analyses and explains
the Determinations of the Pensions Ombudsman, has been added
to pension information company Pendragon's subscription based
electronic information service, Perspective |
25/09/03 |
Schroders
replaced as pension scheme manager
Nationwide Building Society has replaced Schroders as manager
of a majority of its staff pension scheme, following a standard
strategic review it undertook last year |
24/09/03 |
With-profit
AVCs reduce equity exposure
With-profit
Additional Voluntary Contribution (AVC) pension funds have
dramatically reduced their exposure to equities as a protective
measure, according to a recent survey by consultancy firm
Watson Wyatt
|
24/09/03 |
Consumers
lack information on ethical investment
Consumers
want to invest ethically but aren't receiving enough advice
from financial advisors on how to do so, according to new research
by Friends Provident |
24/09/03 |
Surprise
discomfort on the cards for future retirees
Over
half the population can expect difficulty in retirement and
the average working Briton is in for disappointment, according
to JPMorgan Fleming |
23/09/03 |
More
crying and nappies to ease financial strain
The
way to combat financial strain on an ageing European population
is to have more babies, according to the shadow work and pensions
secretary |
23/09/03 |
Winterthur
new business bucks industry trend
Winterthur
Life has reported strong growth in new insured single premium
pensions business through IFAs, up 21% to £329 million
against the same period last year with an industry average of
-19%. This is according to figures published today by the Association
of British Insurers (ABI) |
19/09/03 |
Closed
DB schemes need new risk management
The actuarial approach for managing the risks of defined
benefit schemes is not appropriate for closed schemes, according
to a poll conducted by consulting actuaries Lane Clark and Peacock
LLP (LCP) |
19/09/03 |
Government
over-eggs stakeholder success
Stakeholder has been hailed a "success" by the
Government because it is reaching the right people, although
many in the pensions industry would beg to differ |
18/09/03 |
Mercer
to invest in pensions administration improvements
The human resource consulting firm Mercer has announced
that it will invest £25 million in its pensions administration
business |
17/09/03 |
Individuals
still not shopping around for annuities
People are not taking up the opportunity to shop
around for their annuity, despite the FSA rules introduced
last year stipulating that life offices must emphasise this
right to their clients. This is according to figures released
this week by the Association of British Insurers (ABI)
|
17/09/03 |
Changes
to Armed Forces pension provision labelled as spin
Pension provision for war widows and unmarried partners
of ex-servicemen has been altered under a new scheme unveiled
by the Ministry of Defence (MoD) |
16/09/03 |
BGI
leads in European ETF market
Barclays Global Investors (BGI), investment manager of
iShares range of ETFs, has taken over the management of two
exchange traded funds (ETFs) previously under Merrill Lynch's
remit |
16/09/03 |
Willetts
blasts means testing
The
poorest pensioners are suffering more than most because of
means tested benefits, according to shadow work and pensions
secretary, David Willetts MP |
16/09/03 |
Opra
publishes new stakeholder guidance
The
Occupational Pensions Regulatory Authority (Opra) has published
new guidance on stakeholder pension schemes, based on its
review of the 2002 annual declarations received from trustees
and managers of stakeholder schemes |
15/09/03 |
Compensation
for pension loss one step closer
Compensation
may be on the cards for those who have lost pension benefits
in the past because of their employer going into receivership |
11/09/03 |
Independent
trustee appointed in Maersk case
The
Occupational Pensions Regulatory Authority (Opra) has appointed
an independent trustee to the Sea- Land Service Inc Pension
Plan following concerns that the trustees did not exercise
the necessary knowledge or skill to administer the scheme
properly |
10/09/03 |
Ombudsman
calls for greater trustee accountability
Independent trustees are too well protected by
exemption clauses and the Government needs to protect scheme
members with regulation, according to the Pensions Ombudsman |
09/09/03 |
Employers
inspire more faith than government
Workers
trust their employers more than the government to provide them
with adequate pensions, according to new research by the National
Association of Pension Funds (NAPF) |
09/09/03 |
Opra
prosecutes with success
A company director has been successfully prosecuted by the
ccupational Pensions Regulatory Authority (Opra) for failing
to pay over employee contributions |
09/09/03 |
New
application process improves take-up
Scottish Life has introduced a new process to help improve take-up
under group pension arrangements |
08/09/03 |
Easy
on the eye but soft on the pocket
The Government's final legislative measures must differ radically
from the pension strategy announced in June lest they form yet
another failure in a growing list of lost opportunities, according
to the Association of Consulting Actuaries (ACA)
|
08/09/03 |
| Company
directors blasted for "feathering own nests"
Companies
may be closing down their Defined Benefits (DB) schemes to
employees but directors are still cashing in, according to
a new survey by the Trades Union Congress (TUC) |
05/09/03 |
Business
leaders demand radical pension proposals
UK
business leaders are today calling on the Government for radical
new proposals that will make pensions simpler and more affordable,
as opposed to pushing up costs |
04/09/03 |
Pensions
Credit campaign launched
The
Department of Work and Pensions (DWP) has launched a television
and radio campaign to raise awareness of the new Pensions
Credit which comes into force on 6 October |
04/09/03 |
Financial
pressures delaying retirement
Four
out of ten workers over the age of 50 have delayed their retirement
because of financial pressures, according to a recent study
by Saga |
04/09/03 |
Improved
pension fund access to bricks and mortar
A
property fund of funds will be launched later this month aimed
at providing UK pension funds access to the property market
through indirect property vehicles |
04/09/03 |
UNIPASS
boosts adoption numbers
Friends
Provident and Clerical Medical have gone live with technological
application, UNIPASS, which brings the total of providers
accepting the service to eleven; other names including Scottish
Equitable, Standard Life and Norwich Union |
03/09/03 |
Scottish
Widows improves market share
Scottish
Widows has announced improved market share performance in
the second quarter of 2003 |
02/09/03 |
New
guidance to SASS property purchase
A new guide to buying commercial property through a small
self-administered scheme (SSAS) has been launched by James
Hay Consultancy |
02/09/03 |
Opra
to increase pressure on employers
The
Occupational Pensions Regulatory Authority (Opra) is to force
employers to boost contributions to schemes with large deficits
in an attempt to curb the growing pensions crisis |
01/09/03 |
Call
for clearer presentation of hedge fund risks
Hedge
funds need to be more user-friendly in order for them to be
of greatest use to pension fund trustees, warns financial
and business advisers, Grant Thornton |
01/09/03 |
Technology
not up to scratch among SIPP providers
The
majority of SIPP (self-invested personal pensions) providers
do not have adequate technology to facilitate the SMPI (statutory
money purchase illustration) requirements, according to research
by consultants Dunstan Thomas
|
01/09/03 |
