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AEGON
calls on FSA to provide ‘financial gurus’ for consumer
needs
The Financial
Services Authority (FSA) should consider what consumers want
from their financial advisers as part of its Retail Distribution
Review (RDR), says AEGON |
27/08/08 |
180,000
schemes part of de-risked market
The boom
in the buy-out market will mean the Defined Benefit (DB) pension
schemes of 180,000 employees in the UK will be secured by insurance
companies by the end of 2008, according to research by HSBC
Actuaries and Consultants (HACL) |
26/08/08 |
Record
low for Defined Benefit schemes
Only seventeen
per cent of final salary pension schemes are still open to new
members, according to Aon Consulting |
25/08/08 |
Kaleidaview
offers solution to TCF regulation headache
Marketing
solutions group Golley Slater has developed what it calls an
“elegant” solution to the problem that many financial
services firms have of proving that they are compliant with
the financial regulator’s TCF requirements |
22/08/08 |
Property
shorting contributing to fears of recession
Shorting
in the property investment industry is a major factor in the
current UK economic malaise and is causing ‘unprecedented’
property market volatility according to REITA, the real estate
information provider group |
22/08/08 |
Pension
Fund in Tesco sale and leaseback
Supermarket
giant Tesco has announced the completion of four sale and leaseback
transactions worth £605 million of property assets |
21/08/08 |
Longevity
is the ‘biggest threat’ to retirement planning
Forty-two
per cent of independent financial advisers (IFAs) see rising
longevity as the ‘biggest threat’ to retirement
planning |
20/08/08 |
Financial
adviser banned from promotion by FSA
The FSA has
banned a sole trader from being a senior manager after charging
him with negligence after finding him unable to monitor his
pension transfer specialist effectively |
20/08/08 |
Risky
pension strategy in buy-to-let
Recent
investors using buy-to-let as a pension have been warned that
they risk a possible 90 per cent capital loss if they borrowed
90 per cent of their property value |
18/08/08 |
UK
investors looking to Gulf
Half
of institutional investors in the UK plan to increase their
investment exposure to the Gulf region over the next three years,
according to Lyxor Asset Management (Lyxor) |
20/08/08 |
Funds
urged to ride out UK equities
UK
equities are still an attractive long-term investment option
despite the current market volatility, says Newton Investment
Management |
18/08/08 |
Alan
Pickering to leave Watson Wyatt
Alan
Pickering is to leave consultant Watson Wyatt in order to take
on the role of chairman of BESTrustees in January 2009 |
18/08/08 |
Regulator
'has failed trustees'
The Pensions Regulator (TPR) has failed trustees by publishing
draft guidance on calculating cash equivalent transfer values
far too late for it to be effective, according to Mercer |
13/08/08 |
Group
SIPPs ideal for executive shareholding plans
A Group Self Invested Personal Pension (SIPP) can help senior
employers satisfy their company’s shareholding requirements
|
13/08/08 |
Retirement
lottery
Millions
are leaving their retirement futures to chance by failing to
review their pensions’ portfolio despite the credit crunch,
says Baring Asset Management |
13/08/08 |
Country
heading for 'Pensions Crunch'
The country is heading for a ‘Pensions Crunch’ as
over cautious trustees are stripping FTSE 100 companies of much
needed cash, warns consultant KPMG |
12/08/08 |
Trustees
‘need to be braver’
The
majority of pension fund trustees are failing their members
by “following the herd” when it comes to investment
strategy and not taking calculated risks, according to Ben Shaw,
development director at the Occupational Pension Trust (OPT)
|
07/08/08 |
NAPF
reacts to financial directors’ concerns
The
extent to which finance directors are concerned about pensions
has been revealed in joint research by the National Association
of Pension Funds (NAPF) and the Institute of Chartered Accountants
for England and Wales (ICAEW) |
06/08/08 |
Q2
surge causes capacity uncertainty
Aon
is unsure whether the insurance buy-out market is able to handle
the high levels of demand |
06/08/08 |
Senior
execs raking in 1/45th accrual rates
An
estimated forty per cent of senior executives are enrolled in
a final salary pension scheme with a 1/45th accrual rate
|
05/08/08 |
Hargreaves
Lansdown criticises variable annuities
Variable
annuities are “the Emperor’s new clothes”
of the pensions world, according to Hargreaves Lansdown (HL) |
05/08/08 |
Estimated
£61bn loss for FTSE 350
£61bn
was wiped off the value of pension schemes in the FTSE 350 between
31 March and 30 June 2008, if figures from Mercer are to be
believed |
05/08/08 |
Top
mandarins have £150m pension pots
Taxpayers
have funded top civil servants’ pension pots amounting
to £150 million, according to figures uncovered by the
Liberal Democrats |
04/08/08 |
Good
value in corporate bonds
Corporate
bonds are better value than government bonds as normal conditions
return to the corporate debt market says Jewson Associates |
04/08/08 |
Court
ruling offers greater protection against old negligence claims
Pensions
advisers have received a timely boost from a recent Court of
Appeal ruling which will give them further protection against
old negligence claims |
01/08/08 |
Royal
London to break into protection top three
Royal
London is tipped to become one of the UK’s top three protection
providers following a major milestone in its acquisition of
various assets and businesses from Pearl Group |
01/08/08 |
TPAS
report on Women’s Helpline
The
Pensions Advisory Service (TPAS) is calling on the Government
to improve communication of the state pension scheme following
the release of a report on its Women’s Pensions Helpline |
01/08/08 |
No
party for state pension’s 100th birthday
The
centenary of the state pension is no cause for celebration,
according to research by Friends Provident which has shown that
87 per cent of people feel the Government is failing to provide
an adequate service |
01/08/08 |
UK
schemes undergoing ‘landmark shift’ in investment
practices
Pension
schemes have undergone a ‘landmark shift’ in their
approach to investment in 2008 according to Aon Consulting
|
01/08/08 |
FSA
calls for improvement on annuity service
The
Financial Services Authority (FSA) has called for the fair treatment
of annuity customers following a review of the quality of provider
literature and alleged delays in the transfer of annuity funds
|
31/07/08 |
Risk
of shortening DB lifespan
The
Confederation of British Industry (CBI) has warned that three
million defined benefit (DB) pensions are at greater risk of
being wound up early or bought out because of excessive regulation |
30/07/08 |
Increasing
interest in CDC schemes
The
government should change pensions legislation to accommodate
collective defined contribution (CDC) schemes, according to
Hewitt Associates |
28/07/08 |
ASB
proposals savaged
The
Accounting Standards Board (ASB) has claimed to be “delighted”
with the quantity and quality of the responses it has received
to its discussion paper, The Financial Reporting of Pensions
despite it receiving a large amount of negative feedback
|
28/07/08 |
Buy-out
solvency deficit on the up
The
total buy-out solvency deficit of FTSE 100 pension schemes has
improved from £200bn to an estimated £110bn, according
to a report by Pension Capital Strategies Limited (PCS)
|
28/07/08 |
Almost
one-fifth of retirement savings not in a pension
Nearly
one in five British workers are saving for retirement but not
contributing to a pension, according to new research by employee
benefits provider B&CE Benefit Schemes |
28/07/08 |
Our
homes are no longer our pensions
A
crash in consumer confidence has brought an end to the decade-long
housing boom that saw homes form part of retirement savings,
according to new research from MetLife Europe Limited (MetLife) |
28/07/08 |
Minimum
wage extension impact on pensions
The
extension of the adult rate national minimum wage to 21 year-olds
will have a knock-on effect on employer pension contributions
after 2012, according to Watson Wyatt |
28/07/08 |
TPR
highlights importance of good record-keeping
The
importance of good record-keeping in the governance of pension
schemes has been highlighted in a consultation launched by the
Pensions Regulator (TPR), aimed at those responsible for record-keeping
and those who administer schemes |
24/07/08 |
UK
urged to look to US life settlements
UK pension
funds should be looking to the US life settlements market for
solid investment, according to Policy Selection Ltd’s
(PSL) Rogan Redfarn |
24/07/08 |
DC
fails to engage its members
Communication
with existing and potential defined contribution (DC) pension
scheme members is failing because it is mis-targeted, according
to research by Blackrock |
24/07/08 |
Non-financial
benefits key to admin outsourcing
The
desire to focus on core business is the main driver for companies
to outsource pensions administration, according to new research
by Aon Consulting |
24/07/08 |
AXA
launches Save More Tomorrow service
AXA has launched
its Save More Tomorrow service on its Group Personal
Pensions and Group Stakeholder products, aimed at increasing
a member’s contribution by an agreed percentage at set
time periods |
24/07/08 |
FTSE
100 putting £80bn at risk
FTSE
100 companies are putting £80bn at risk through their
pension schemes, according to advisory firm Deloitte |
23/07/08 |
TPR
to delay longevity changes
The
Pensions Regulator (TPR) has decided to delay the introduction
of changes to the way longevity is treated in the scheme funding
regime |
21/07/08 |
Uncertainty
surrounds LGPS
The
current one-sixtieth final salary Local Government Pension Scheme
(LGPS) will not exist by 2012, according to 75 per cent of local
government attendees at a seminar hosted by financial consultant
Mercer |
21/07/08 |
Pensioners
fail to budget for life in retirement
Despite the
economic slowdown, pensioners are failing to budget for life
in retirement, finds new research by Prudential |
21/07/08 |
SEI
combats DC drain
SEI
has announced an extension to the SEI DC Master Trust, aimed
at alleviating the drain on corporate pension schemes caused
by the growing number of deferred members |
21/07/08 |
Hewitt
publishes buy-out guide
A
new guide has been published by Hewitt Associates to help companies
work through whether a buy-out is the right option for them,
The Elements of an Effective Buy-Out |
21/07/08 |
Ombudsman
demands apology for Equitable Life failure
Ann
Abraham, the Parliamentary Ombudsman, has called on the Government
to apologise to Equitable Life policyholders and to establish
and fund a compensation scheme |
17/07/08 |
Employers
forecast continued recoil from DB
Over
40 per cent of UK defined benefit (DB) pension schemes are expected
to have closed to future accrual within the next five to ten
years, according to Watson Wyatt’s Pension Plan Design
Survey 2008 |
17/07/08 |
The
rise of ‘returnment’
Consultancy
Future Laboratory has renamed retirement ‘returnment’,
following research showing that 64 per cent of Britons are considering
carrying on working after reaching retirement age |
16/07/08 |
Volatility
impacts on retirement options
Two
thirds (67 per cent) of IFAs say the ongoing stock market volatility
has spurred their clients into changing the way they plan for
their retirement, according to research by MetLife Europe Limited
(MetLife)
|
16/07/08 |
Worsening
finances could exacerbate trustee conflicts of interest
Conflicts
of interest on trustee boards could be strained even further
as companies look to reduce funding levels of pension schemes
in the wake of recent market turmoil, warns Trustee GAAPS |
15/07/08 |
Failure
to reach PA charging structure agreement
There
is no clear consensus view on the most appropriate charging
structure for personal accounts, according to the Personal Accounts
Delivery Authority’s (PADA) charging structure consultation
response |
15/07/08 |
Paternoster
reports 550 per cent growth
Paternoster
has reported a business growth of 550 per cent over the last
year |
15/07/08 |
Pension
schemes fall into deficit
The
aggregated pension schemes of the FTSE 100 have lost £30bn
in the second quarter, falling from a surplus of £21bn
to a deficit of £9bn, according to Redington Partners |
14/07/08 |
Free
online equity allocation guide
A
free guide on allocating equities for pension scheme trustees
and employers has been launched by Alexander Forbes Financial
Services |
09/07/08 |
Chancellor
urged to increase SAYE limit
The
Government should increase the maximum Save-As-You-Earn (SAYE)
limit to £400 a month, says share ownership organisation,
ifs ProShare |
10/07/08 |
Support
for Scottish government age campaign
The Scottish
Government has launched a campaign to stamp out age-related
discrimination, supported by financial consultant Aon Consulting,
and is urging Scots to ‘See the Person, not the Age’ |
10/07/08 |
PCS
launches buy-out report
A
half yearly Buyout Market Watch report was launched yesterday
(10 July) by Pension Capital Strategies Limited (PCS), reviewing
the last 12 months in the buy-out market with a view on the
market for the rest of 2008 and long term |
10/07/08 |
“No
further powers are necessary” to TPR
The
British Private Equity and Venture Capital Association (BVCA)
has attacked Government plans to give more power to the Pensions
Regulator (TPR) as it risks deterring takeovers of UK companies
and could reduce private equity investment |
09/07/08 |
DC
reputation must be improved
Businesses
must work harder to disprove unfair negative views about defined
contribution (DC) pension schemes, warned the Confederation
of British Industry (CBI) and Mercer |
09/07/08 |
Property
losing its sheen as a retirement gold pot
Five per
cent of the UK adult population have taken the decision to review
their pension arrangements in the last 12 months as a result
of falling property prices, according to Baring Asset Management |
08/07/08 |
Living
Time launches ‘Offer More Options’ campaign
Living
Time has launched its ‘Offer More Options’ campaign,
aimed at encouraging the financial services industry to do more
to ensure retirees take advantage of their open market option
(OMO) rights to shop around |
08/07/08 |
Pension
funds opt for bonds over equities
Nearly
half of pension schemes managers have shifted investments from
equities to bonds, according to a survey by Aon Consulting |
07/07/08 |
Help
for people managing money worries
The
Financial Services Authority (FSA) has announced that it will
take action to provide more support in helping people to tackle
their money concerns |
07/07/08 |
Financial
advice essential ahead of redundancy programmes
Employers
should factor in the provision of personal financial advice
ahead of implementing voluntary redundancy programmes, say financial
consultants Watson Wyatt |
03/07/08 |
Local
government ill-health retirement set to cause headache
Local authorities
are bracing themselves for an increase in complaints from those
who are facing delays in receiving ill-health pensions, says
law firm Pinsent Masons |
02/07/08 |
TPR
publishes final guidance on winding up
The Pensions
Regulator (TPR) has published final guidance for trustees of
occupational pension schemes to help them meet Government expectations
that key wind-up activities are completed within two years |
01/07/08 |
Employers
could be prosecuted for encouraging opt-outs
Under proposed
changes to the Pensions Bill, Mike O’Brien, Minister for
Pensions Reform, hopes to make it illegal for employers to encourage
their workers to opt-out of a workplace pension scheme |
01/07/08 |
Three
quarters of pension schemes now in deficit
Research
from Aon Consulting suggests that 75 per cent of pension schemes
are now in deficit, with 31 per cent falling from surplus into
deficit during June alone |
01/07/08 |
UK
lacks pensions knowledge
Ninety
three per cent of UK workers do not know what the basic state
pension is, according to research by B&CE Benefit Schemes
(B&CE) |
30/06/08 |
Increase
in retirement savings down to fear
Fear is the
prominent driver in the rise in those saving for retirement,
according to a Scottish Widows Pension Report |
30/06/08 |
DWP
to allow protected rights investment into SIPPs
The
Department for Work and Pensions (DWP) has published final confirmation
that it will permit Protected Rights funds to be invested into
SIPPs from October 2008 |
27/06/08 |
Government
failing to instil faith in the public over pensions
Two
thirds of Brits have little or no faith in the Government when
it comes to pensions, according to a survey by pensions company
Friends Provident |
27/06/08 |
CFA
launches code of conduct
The
Code of Conduct for Members of a Pension Scheme Governing
Body, designed to help such individuals manage their ethical
responsibilities, has been launched by the CFA Institute |
25/06/08 |
Quarter
of adults sacrifice pension saving for children’s education
Soaring costs
of education are eating up £7.3bn of parents’ annual
saving for their own retirement, shows new research from MetLife
Europe Limited (MetLife) |
25/06/08 |
Pension
communication breakdown continues
Far
more work must still be done with employees to build their understanding
of the benefits of workplace pensions, says the National Association
of Pension Funds (NAPF) |
24/06/08 |
Pensioners
must inflation-proof their income
Anyone
thinking about retirement should consider the effects of inflation
eroding their income, as new data shows many people will see
their retirement income swallowed up by the basic costs of living,
says Standard Life |
23/06/08 |
Firms
called to help employees through pensions “sea change”
Companies
should aid their workers through the consequences of the changes
taking place in workplace pension provision according to PricewaterhouseCoopers
(PwC) |
23/06/08 |
Myners
update must take account of changed investment landscape
A significant
overhaul in the guidance given to trustees to take into account
a significant change in the investment landscape is needed on
the combined HM Treasury, DWP and Pensions Regulator consultation
on updating the Myners Principles, says Hewitt Associates
|
23/06/08 |
PwC
warning over extension of TPR’s powers
The
proposed extension of the Pension Regulator’s (TPR) powers
could prove damaging to defined benefit (DB) pension schemes,
according to PricewaterhouseCoopers LLP (PwC) |
20/06/08 |
People
have ostrich-like attitude to the credit crunch and financial
planning
Financial
advice must be made more accessible to the wider population,
says Zurich, particularly in light of the credit crunch, which
“will have a lasting legacy for the future generations” |
18/06/08 |
Aon
launches annuity service
Aon
Consulting has launched an annuity service designed to tackle
concerns that UK pensioners are losing out on £360million
each year through poor retirement decisions |
18/06/08 |
AIMA
responds to FSA consultation
The
Alternative Investment Management Association (AIMA) has called
on the FSA to reconsider some of its proposals to allow retail
investors simplified access to alternative investments through
Funds of Alternative Investments Funds (FAIFs) |
17/06/08 |
Personal
Accounts threat to enhanced protection
Following
concerns voiced by industry bodies that the Pensions Bill must
be changed, actuarial consultancy First Actuarial has warned
that the launch of Personal Accounts in 2012 could trigger penal
tax charges for individuals who have taken steps to protect
their pension savings against the lifetime allowance charge |
17/06/08 |
Industry
calls for change in the Pensions Bill
The Pensions
Bill must be changed to avoid unnecessary costs to workplace
pensions and undermining retirement savings for low earners,
says the National Association of Pension Funds (NAPF)
|
16/06/08 |
British
workforce underrates true value of company perks
The
majority of British workers greatly underestimate the costs
of their benefits to their employers, leading to calls for companies
to do more to communicate with their employees |
16/06/08 |
The
Annuity Bureau publishes The Final Countdown
Retired
people in the UK who choose the wrong annuity provider and fail
to plan ahead miss out on approximately £52.9million each
year, says the Alexander Forbes Annuity Bureau |
16/06/08 |
Life
expectancy improves by five hours per day, says Newcastle Professor
Improvements
in life expectancy have amounted to five hours per day, according
to Professor Tom Kirkwood, professor of Medicine and director
of the Institute for Ageing and Health at Newcastle University
|
16/06/08 |
Pension
risk sharing needs greater flexibility
Greater flexibility
is needed on pension risk sharing, says financial consultant
Hewitt Associates |
10/06/08 |
Older
workers, older savers
More
people in the UK are continuing to save for retirement after
reaching State Pension Age, says Watson Wyatt’s analysis
of new Government statistics |
10/06/08 |
DB
funding positions improve for second consecutive month
The
PPF 7800 Index for May 2008 has shown that the aggregate funding
position of almost 7,800 DB funds is estimated to have improved
for the second consecutive month to a surplus of £53.4bn
at the end of last month |
09/06/08 |
Age
regulation headache remains 18 months on
Eighteen
months on from their enactment in relation to pensions, the
employment Equality (Age) regulations 2006 continue to cause
confusion in relation to pensions by their unclear wording and
incomplete nature, says international law firm, Freshfields
Bruckhaus Deringer
|
09/06/08 |
Protected
rights to become more flexible by 2012
The rules
surrounding protected rights are to become more flexible, but
not until 2012, according to the Secretary of State for Work
and Pensions, James Purnell |
09/06/08 |
Investors
warned over decision making
Investors and trustees have been warned that allowing bias
and emotion to affect their financial decision-making could
have serious long-term economic consequences, as evidenced
by moves taken by investors prior to the credit crunch |
09/06/08 |
PPF:
Levy scaling factor a surprise to us too
The Pension
Protection Fund’s (PPF) chief executive, Partha Dasgupta,
has defended his organisation’s decision to set its
levy scaling factor at 3.77 |
06/06/08 |
PIC
completes second insurance buy-out
Pension Insurance
Corporation (PIC) has carried out one of the largest buy-outs
of 2008 so far with the Delta Pension Plan |
05/06/08 |
Punter
Southall predicts buy-out crash
The
surge in the pensions buy-out market is unsustainable and temporary,
says consultant Punter Southall |
04/06/08 |
Survey
highlights rising costs of managing schemes
Capita Hartshead
fifteenth annual Pensions Administration Survey has been published
in full, and highlights the increasing cost of managing pension
schemes |
03/06/08 |
Inflation
threat to pension scheme funding levels
Despite
56 per cent of UK pension schemes remaining in credit for the
fourth consecutive month, Aon Consulting has warned that schemes
will have to continue to fight an unstable outlook
|
02/06/08 |
Xafinity
Paymaster to partner PMI
Xafinity
Paymaster has signed a new partnership agreement with the Pensions
Management Institute (PMI), as sponsor of their new Administration
Specialist Industry Sector (SIS) |
02/06/08 |
Means-tested
benefits deter pension saving
Almost
two thirds of workers believe means-tested benefits deter pension
saving, according to a recent survey conducted by employee benefits
provider B&CE Benefit Schemes |
02/06/08 |
Regulator
publishes new trustee guidance
The
Pensions Regulator has published Relations with advisers
guidance to help trustees make the best use of the expertise
that advisers and service providers can bring to a pension scheme |
30/05/08 |
Fidelity
predicts pensions ‘catastrophe’
Millions
of adults will suffer from the developing pensions catastrophe
over the next few decades as they reach retirement, according
to the latest Fidelity International Viewpoint paper |
30/05/08 |
PPF
reveals 2008-2009 levy scaling factor
The Pension
Protection Fund (PPF) has announced the scaling factor for 2008-2009
which enables eligible UK pension schemes to work out their
pension protection levies |
30/05/08 |
Increase
predicted in IFA recommendation to clients to use guarantees
Nearly
two out of five (38 per cent) of IFAs will be advising clients
to use guarantee-type products for their retirement planning
in the next 12 months as interest in alternatives to conventional
annuities increases, according to new research from MetLife
Europe Limited (MetLife) |
29/05/08 |
Open
market hope for those with small pension pots
Retirees
with pension pots as low as £5,000 could be missing out
on an uplift of up to 40 per cent by not utilising the open
market option (OMO), according to Just Retirement |
29/05/08 |
Seminar
expected to encourage growth of green investments
An open
training seminar on green and ethical investment is to be held
in June to celebrate the tenth anniversary of the Ethical Investment
Association (EIA) |
28/05/08 |
Pension
Insurance Corporation completes first buy-out
In its
first participation in the defined benefit (DB) fund buy-out
market, Pension Insurance Corporation has been chosen to secure
the pension benefits of members of Swan Hill Pension Scheme |
28/05/08 |
S&P-rated
FOHFs cruise in turbulent market quarter
Despite
funds-of-hedge-funds (FOHFs) experiencing one their worst ever
quarters, most investors with Standard & Poor’s-rated
FOHFs have left their money where it is according to the latest
update on the sector from the firm |
27/05/08 |
Scottish
Widows in £1bn negligence claim
Scottish
Widows could be landed with a £1bn compensation bill over
allegations that it gave “negligent” advice to around
100 company pension schemes |
27/05/08 |
UK
experiences first National Ethical Investment Week
Last
week saw the UK Social Investment Forum (UKSIF) host the first
National Ethical Investment Week (NEIW) in the UK, providing
further evidence of the growing importance of ethical investment
in the UK |
27/05/08 |
NAPF
pledges support for T-Charter
The
National Association of Pension Funds (NAPF) has announced its
endorsement of the T-Charter, in recognition of the importance
of achieving high standards in the transition management industry |
27/05/08 |
No
open market for half of Standard Life customers
There
is no open market option (OMO) for half of Standard Life customers,
according to the firm’s analysis of figures from The Exchange |
23/05/08 |
Costs
of variable annuities need to remain at one per cent or less
The
cost of guarantees on variable annuity products should be kept
at one per cent or less of the fund value per annum for consumers
to be willing to pay for them, according to three-quarters of
attendees at a recent Watson Wyatt debate
|
23/05/08 |
Rising
life expectancy costs £40bn over three years
Rising
UK life expectancy has cost £40bn over the past three
years, according to a survey by KPMG |
22/05/08 |
Pension
Corporation launches longevity insurance product
Pension
Corporation has launched a new insurance product to protect
defined benefit (DB) pension funds and their sponsors against
the cost of pensioners living longer than expected |
22/05/08 |
Paternoster
unveils quarterly ‘buy-out affordability’ index
Buy-out
firm Paternoster has launched a quarterly ‘buy-out affordability’
index |
21/05/08 |
New
investment company to challenge multi-management sector
The
current offerings in the multi-management sector are set to
be challenged by the arrival of Architas Multi-Manager (Architas),
a new multi-manger investment company |
21/05/08 |
Clerical
Medical unveils new guide
Clerical
Medical has launched the first chapter of its adviser guide
Folklore and Fact, designed to help advisers in removing
the many myths and misconceptions associated with pension and
retirement planning |
21/05/08 |
Campaign
highlights ethical risks in mining project investments
A campaign
has been launched to brief UK pension funds and fund managers
on investment risks arising from inadequate analysis of human
rights and environmental impacts of mining projects in developing
countries |
21/05/08 |
Adviser
confusion over TCF requirements
Almost
half of all advisers are confused and uncertain over what the
FSA requires from them to evidence Treating Customers Fairly
(TCF) principals by the December 2008 deadline |
20/05/08 |
Fewer
UK workers believe they can afford personal accounts
Twenty-eight
per cent of UK workers says they cannot, or do not know if they
can, afford the proposed four per cent contribution to a personal
account, according to a survey by B&CE Benefit Schemes
|
20/05/08 |
Aid
for advisers in making most of new pensions rules
Alliance
Trust Savings has added a webcast and bulletin to help advisers
make full use of new options for transferring in-specie assets
into pensions plans |
19/05/08 |
Killik
and CDP launch green Group SIPP
In
response to the soaring demand for ethical investments, not-for-profit
organisation Carbon Disclosure Project (CDP) has launched a
Group Self Invested Pension Plan (SIPP) in conjunction with
Killik Employee Services (KES) |
19/05/08 |
EU
gives auto-enrolment the go-ahead
Millions
of savers are to benefit from auto-enrolment into workplace
pension schemes, the Secretary of State for Work and Pensions,
James Purnell, has announced |
16/05/08 |
Concerns
voiced over TPR Consultation
A
number of concerns about The Pensions Regulator’s (TPR)
February 2008 consultation on choosing assumptions for defined
benefit (DB) schemes by the National Association of Pension
Funds (NAPF) |
16/05/08 |
Norwich
Union in £350million Friends Provident buy-in
The
Friends Provident Pension Scheme (FPPS) has completed a £350million
pensions buy-in with Norwich Union |
15/05/08 |
RI
report reveals wide variation in fund manager practices
Many
mainstream fund managers are improving their understanding of
environmental, social and corporate governance ESG issues, according
to RImetrics |
15/05/08 |
ACE
and OPDU launch trustee protection product
ACE
European Group (ACE) and The Occupational Pensions defence Union
(OPDU) have joined forces and launched a comprehensive Pension
Trustee Liability (PTL) product ‘ACE OPDU Elite’
|
14/05/08 |
Inflation
and increased longevity to cut retirement spending
The
combination of increased longevity and inflation could cut retired
people’s spending power by as much as 40 per cent over
25 years, says a new Ernst & Young report for MetLife Europe
Limited (MetLife) |
14/05/08 |
Pension
schemes raise life expectancy assumptions
Pension
schemes have increased their life expectancy assumptions for
members by an average of half a year over 2007, equating to
an average increase of two per cent, or £8bn, on the liabilities
for the firms in the FTSE 350 |
13/05/08 |
IASB
proposals could wipe out risk sharing
Proposals
to reform accounting standard IAS19 could wipe out the adoption
of risk sharing pension arrangements, according to Hewitt Associates
|
13/05/08 |
NAPF
and WCIF to bring legal challenge against HMRC
A legal
challenge will be brought against HM Revenue & Customs (HMRC)
on the application of VAT on the investment management services
supplied to occupational funds |
12/05/08 |
Personal
Accounts could affect graduate recruitment
The
introduction of Personal Accounts could affect graduate recruitment,
warns global human resources services company Hewitt Associates |
12/05/08 |
Alternative
asset class searches rocket
Search
activity in non-traditional asset classes continues to rise
globally as investors react to unstable markets |
12/05/08 |
Personal
retirement planning top in requests for advice
Nearly
a third (31 per cent) of UK consumers who sought guidance from
IFAs in the first three months of 2008 requested advice on personal
retirement planning |
09/05/08 |
Pensions
buy-out market rockets
The
market for transferring pension scheme risk to an insurance
company has accelerated sharply over the last six months, according
to the Lane Clark & Peacock LLP (LCP) Pension Buyouts 2008
report |
08/05/08 |
Confusion
over TCF requirements
A
poll of investment banks, private banks, asset managers and
hedge fund managers suggests that there is confusion in the
wholesale financial services market on the degree of impact
of the FSA’s Treating Customers Fairly (TCF) initiative
|
08/05/08 |
Novae
Group latest firm to launch Group SIPP
Specialist
insurance firm Novae Group has become the latest firm to launch
a group Self Invested Pension Plan (SIPP) in order to provide
its workforce with greater control over their pension investments |
07/05/08 |
Schemes
finding it harder to recruit trustees
The number
of pension schemes experiencing difficulty in recruiting trustees
has jumped by almost a third in one year as potential candidates
become more aware of the growing complexity and responsibilities
of the trustee role, says Trustee GAAPS |
06/05/08 |
Advisers
still confused over protected rights in SIPPs
Confusion
still exists among advisers one year on following the introduction
of SIPP regulation, according to a new survey |
06/05/08 |
High
Court gives further clarification on winding-up
The
High Court has reached a decision in the Imperial Home Décor
pension case, giving further clarification on the winding-up
of money purchase benefits |
02/05/08 |
PPF
reveals three-year management plan
A three-year
management plan has been published by the Pension Protection
Fund (PPF) |
02/05/08 |
Companies
warned over £45bn pension risk
Companies
with defined benefit (DB) pensions liabilities on their balance
sheets have been warned of the impact longevity risk can have
on their finances |
30/04/08 |
Schemes
turn to TLPs for security in 2008
Pension
funds throughout the UK and Europe are increasing their investment
in traded life policy (TLP) funds |
29/04/08 |
PADA
risks compromising employer-sponsored pension schemes
Financial
consultant Mercer has expressed concern that the Personal Accounts
Delivery Authority (PADA) has identified priorities in its consultation
that will impact adversely on wider pension provision |
29/04/08 |
Trustees
believe majority of employees in the dark over pensions
Sixty
one per cent of trustees sitting on defined contribution (DC)
pension fund boards think that their members do not know how
much their pension is worth |
28/04/08 |
Call
for IFAs to encourage 'shopping around'
Financial
advisers should look to further encourage their clients to shop
around for an annuity, according to Just Retirement, following
news that the UK annuity market is set to more than double by
2012 |
28/04/08 |
Grangemouth
workers need to ‘share the load’ of pensions
The
trade union Unite has be |
