More Archive News

More than 200,000 parents risk missing out on their future state pension entitlements in families where one parent does not work due to childcare commitments, HMRC has warned
23/01/19
The aggregate FTSE 100 DB pension scheme allocation to bonds rose to 66 per cent, as of 30 June 2018, up from 63 per cent on 30 June 2017, JLT Employee Benefits has revealed
23/01/19
Nest has been granted a contingent liability guarantee of £329m by the government in respect to its master trust authorisation application
23/01/19
The Pensions Regulator (TPR), the Financial Conduct Authority (FCA) and the Single Financial Guidance Body (SFGB) have “welcomed” the independent review by Caroline Rookes into the British Steel Pension Scheme (BSPS) scandal
22/01/19
The number of women working part-time compared to men risks making the pensions savings gap even worse, Aegon has warned
22/01/19
An independent review of communications and support given to British Steel Pension Scheme (BSPS) members has detailed a series of recommendations to improve the pension restructuring process in the future.

The report, conducted by former Money Advice Service CEO Caroline Rookes at the request of The Pensions Regulator (TPR), stated that “the mere fact of giving so many members a choice led to a very complex and for some overwhelming situation which caused stress and uncertainty as well as potential financial loss"
22/01/19
The Department for Work and Pensions (DWP) has launched a consultation aimed at “tidying up” the way schemes operate integration, also known as clawback, to bring it in line with the rising state pension age
22/01/19
Pensions Minister Guy Opperman has responded 'cagily' to a question asking whether the Department for Work and Pensions (DWP) had made an assessment of the effect on mixed-age couple the changes to eligibility for Pension Credit will have
22/01/19
The planned strike by Beefeaters will go ahead tomorrow (22 January), after pension discussions with the Historic Royal Palaces (HRP) left members in “fury” and without an agreement
21/01/19
The government will fully assess the impact of the changes to police officer pensions will have on force budgets, once the Police Remuneration Review Body has submitted its recommendations in May, it has revealed
21/01/19
More than a quarter (27 per cent) of employers admitted that they are not confident in providing their workers with information on saving for retirement, according to research from Aegon
21/01/19
The top triggers that lead to pension schemes retendering actuarial consultant contracts have been revealed in a new report from Barnett Waddingham
21/01/19
The Insolvency Service has applied to wind-up 24 companies, connected to 3,750 pension-scam victims, for “pension misuse” since 2015, according to its latest figures
21/01/19
Tens of thousands of savers risk a savings shortfall in later life due to neglecting their remaining pot after taking a tax-free cash lump sum, Zurich has warned
21/01/19
Work and Pension Committee chair Frank Field has written to the Secretary of State for Work and Pensions Amber Rudd, asking for her to clarify a number of issues arising from the government’s changes to Pension Credit
21/01/19
ABI policy adviser, retirement and savings policy, Reuben Overmark, on why the ABI is looking forward to working with the government to get more self-employed people saving for retirement
18/01/19
Jack Gray argues that the Work and Pensions Committee chair, Frank Field, should give the incoming chief executive to The Pensions Regulator, Charles Counsell, a chance
18/01/19
The government should switch to using one single general measure in order to fix an error in the retail price index (RPI), in a move which could negatively affect private sector pension deficits
18/01/19
The latest news in brief and mandates from the past week
18/01/19
The Royal Mail Pension Scheme has contested a ranking that names it as the slowest defined benefit pension scheme to respond to requests for information from pension advice firm, Portafina, on behalf of members
18/01/19
The pensions industry could be facing a “capacity crunch” once schemes fully understand the process of equalising guaranteed minimum pensions (GMP), it has been suggested
17/01/19
Both XPS Pensions Group and Aon have responded positively to the Department for Work and Pensions’ (DWP) consultation on collective defined contribution (CDC) pension schemes
17/01/19
Pension schemes' upcoming requirements to tender for fiduciary managers should have a minimum standard in place, in order to avoid it being a box ticking exercise, it has been said.
17/01/19
The Pensions Regulator (TPR) has admitted it needs to make changes to its approach when dealing with ailing pension schemes following the Kodak Pension Plan (no. 2) (KPP2) case
17/01/19
Pension Insurance Corporation (PIC) has concluded a pension insurance buy-in with the trustee of the Somerfield Pension Scheme, insuring £425m of pension liabilities
17/01/19
The Competition and Markets Authority (CMA) is set to consult on the draft order of its suggested remedies into the investment consultant and fiduciary management markets in mid-February, it has confirmed
16/01/19
The date for the judicial review into whether women born in the 1950s were sufficiently communicated with about changes to the state pension age has been revised to 5 and 6 June
16/01/19
Universities UK (UUK) has said it sees the “merit” in the approach to contribution rates being developed by the Universities Superannuation Scheme’s (USS) trustee, as it could be a “potential way to bridge the different perspectives” of stakeholders such as The Pensions Regulator
16/01/19
Industry members have expressed their concern over the future of pensions and the impact on consumers following the heavy defeat of Prime Minister Theresa May’s Brexit deal in parliament yesterday
16/01/19
The Consumer Prices Index fell to 2.1 per cent in December 2018, down from 2.3 per cent in November 2018, new statistics from the Office for National Statistics has revealed
16/01/19
Workers who need to top up their state pension to fill in past contribution gaps should do so before 6 April, or risk paying a hike in contributions, experts have warned
16/01/19
Stephen Lloyd, Independent MP for Eastbourne and Willingdon, has criticised the government’s announcement of changes to pension credits for mixed age couples
16/01/19
TPR executive director of regulatory policy, analysis and advice, David Fairs, explains TPR's expectations for DB scheme consolidation
15/01/2019
The government has launched its consultation on a £1.1bn increase in employer contributions to the Teachers’ Pension Scheme in 2019/20
15/01/2019
The Health Secretary Matt Hancock is in discussions with the Chancellor to try to change the current pension tax rules, which is damaging the recruitment and retention of doctors
15/01/19
The defined benefit pensions arm of Selectapension has voluntarily wound up, according to a Companies House report
15/01/19
The Department for Work and Pensions (DWP) has “sneaked out” an announcement that will cut benefits available to some older ‘mixed age’ couples by over £7,000 per year
15/01/2019
From cases such as the Lloyds GMP ruling, Barnardo’s indexation to the Pension Protection Fund being told by the Court of Justice of the European Union that it must pay at least 50 per cent of members’ pension entitlement, 2018 was packed full of court cases that affect the pensions industry. With that in mind, we take a look at what to look out for in 2019
15/01/19
NHS employers have urged the Treasury to review the impact of current pension tax rules, arguing the current system could “damage the perceived value” of the NHS Pension Scheme
14/01/19
Hargreaves Lansdown has warned that there will be “winners and losers” in its response to the government’s collective defined contribution (CDC) scheme consultation
14/01/2019
More must be done to prevent companies from legally prioritising executive pay over pension deficit recovery payments, Unite has warned
14/01/19
‘Sandwich carers’ – those caring for both children and elderly relatives – are at risk of missing out on state pension credits, according to Royal London
14/01/2019
Twenty-two per cent of non-advised drawdown consumers are unaware of the Money Purchase Annual Allowance (MPAA), with Canada Life warning that savers could be faced with unexpected tax bills
14/01/19
The Cost Transparency Initiative has announced that 10 new members are joining its board
14/01/2019
The Palestine Solidarity Campaign (PSC) has won the right to challenge a Court of Appeal ruling, which upheld the government’s right to restrict Local Government Pension Schemes (LGPS) from divesting, contrary to UK foreign and defence policy
11/01/19
FSCS has updated its approach to claims against Active Wealth (UK) Limited to ensure “full and fair” compensation for former members of the British Steel Pension Scheme (BSPS), following meetings with the steelworkers, their representatives and MPs
11/01/2019
The latest news in brief and mandates from the past week
11/12/18
A framework must be developed to enable trustees to decide if moving their scheme into a consolidation vehicle is the right thing to do, Redington has suggested
11/01/18
Council workers’ pension money totalling more than half a billion pounds has been invested by local councils in arms firms that have been linked to the war in Yemen
11/01/2019
The number of people who have been automatically enrolled into a pension scheme has increased to 9.985 million over December, according to The Pension Regulator’s (TPR) latest figures
11/01/2019
Consumers lacking an “adequate” retirement income is the “central challenge” facing the pensions sector in 2019, according to the Financial Conduct Authority (FCA)
10/01/19
Public sector workers will have the option to remain in the Local Government Pension Scheme (LGPS) in the event their job is outsourced, in a move which could safe-guard thousands from losing their pensions in cases such as Carillion
10/01/19
A new industry group has been formed to aid pension scheme's navigation of the High Court’s ruling on guaranteed minimum pension (GMP) equalisation
10/01/19
Pension Insurance Corporation (PIC) has completed a further £125m investment with University Partnerships Programme (“UPP”), a provider of on-campus residential and academic accommodation infrastructure
10/01/19
The cost of financial advice on transfers could be debited directly from the defined benefit rights of the clients, as a solution to the contingent charging issue, it has been suggested
10/01/18
Pension transfer values increased from £230,000 to £235,000 over a volatile December, XPS Pensions Group has revealed
10/01/2019
An accounts manager has admitted to lying to investigators to try and conceal the fact that restaurants have not given their staff workplace pensions, The Pensions Regulator (TPR) has revealed
10/01/2019
The High Court has set the date of its judicial review for the alleged mishandling of raising the state pension age for women born in the 1950s as 24 May 2019
09/01/19
Taylor Wimpey has estimated that the High Court ruling on guaranteed minimum pensions (GMP) will increase its defined benefit pension scheme liabilities by £15-20m
09/01/19
Nearly seven in 10 (69 per cent) home owning pensioners eligible for state support were failing to claim their full benefits entitlement in 2018, according to new research by Just Group
09/01/2019
The significant gap in pension wealth between men and women in the UK has been revealed by analysis of Family Resources Survey datasets by the trade union Prospect
09/01/19
The pension cold-calling ban will take effect today, 9 January, making it illegal for any member of the public to receive unsolicited calls about their pension
09/01/19
Nearly half (49 per cent) of UK workers over 50 who are earning more than £20,000 would prefer to gradually transition into retirement by blending work and retirement, a survey by Aegon has found
09/01/19
CQS has named Xavier Rolet as CEO, while founder Michael Hintze will continue as senior investment officer and will also become group executive chairman
08/01/19
As many as 15 FTSE 100 companies will be able to offload their UK DB pension schemes in the next three years, according to new research from Lane Clark & Peacock (LCP)
08/01/19
The pensions industry has warned of the “unintended consequences” a ban on contingent charging could cause, urging the Work and Pensions Committee to keep an open mind on the issue, after the government body launched an inquiry into the controversial practice
08/01/19
Britons under the age of 32 are the most optimistic about the age at which they plan to retire, despite being the age group that is least financially prepared, research from Navigate Wealth has found
08/01/2019
Smaller pension schemes must “work harder” in order to not miss out on attractive pricing of bulk annuity deals, Willis Towers Watson (WTW) has said
08/01/19
The aggregate deficit of DB schemes in the PPF 7800 Index increased by £46.2bn over December, the Pension Protection Fund has revealed
08/01/19
The Work and Pensions Committee has launched an inquiry into contingent charging in order to gather evidence around the likelihood it increases bad advice, it has been revealed
07/01/19
GMB have agreed to suspend tomorrow’s (8 January) strike action over pensions after accepting an offer of further talks from Historic Royal Palaces (HRP)
07/01/19
The Minister for Policing and the Fire Service, Nick Hurd, has reiterated the government’s commitment of an additional £153m to meet the increased pensions costs for next year
07/01/19
Compensation payouts to members who have been wrongly advised to transfer out of DB schemes have doubled to £40m in two years, new data from the Financial Services Compensation Scheme (FSCS) has revealed
07/01/2019
Those poorest in retirement are the ones gambling most with pension freedoms, leaving them acutely vulnerable to a downturn, new analysis from retirement specialist Responsible Life has revealed
07/01/19
Four more organisations have agreed to sign up to Star, a government backed initiative aimed at delivering a long-term governance solution to transfers, taking the total up to 11 firms
07/01/19
The average divorced woman over 50 has a pension wealth of £131,000 compared with £454,000 for the average married couple, new research from Royal London has found
07/01/2019
The public are "pessimistic" about the future of state pensions, with all age groups anticipating a low state pension and an increase in the state pension age by the time they hit retirement, Canada Life has revealed
07/01/19
The FTSE 350 DB pension deficit increased by 28 per cent in 2018, from £32bn to £41bn, figures from Mercer have revealed
07/01/19
The number of businesses fined by The Pensions Regulator (TPR) for auto-enrolment errors increased by 144 per cent in 2017/18, according to data from EMW
07/01/2019
News and mandates from the last seven days...
04/01/18
Some industry members have questioned the recent suggestion from the Resolution Foundation of capping tax-free lump sums for pensions at £40,000
04/01/2019
The pensions deficit of the Universities Superannuation Scheme (USS) has more than halved from £7.5bn to £3.6bn, its new technical provisions consultation has revealed
04/01/19
The Standard Life Staff Pension Scheme have been ordered by the Pensions Ombudsman to pay nearly £20,000 to one of its members for delaying his pension transfer, which led to investment losses
04/01/2019
The Pensions Regulator (TPR) has received three new master trust authorisation applications, as at 31 December 2018, bringing the total number of applications up to six
04/01/19
Almost 5,000 pension transfers were completed by firms who were later told to exit the market, after the Financial Conduct Authority (FCA) found issues with their advice, it has been revealed
04/1/19
Whitbread has reached an agreement with the trustee of its DB scheme to make a one-off contribution of up to £380m to the Whitbread Group Pension Fund, following the sale of Costa to The Coca-Cola Company
03/01/2019
Plumbing Pensions has agreed to extend the period where no participating employer can leave the scheme for a further six months, in order to help ensure the short-term future of the covenant
03/1/19
Some consumers are concerned that the government could make tax changes that will affect their pension savings, new data from AJ Bell has revealed
3/01/2019
The government is set to consult on a £1.1bn increase in employer contributions to the Teachers’ Pension Scheme in early 2019, it has revealed
03/1/19
The government has rejected a call to alter legislation on interest rates for late payment of Pension Protection Fund (PPF) levies for small and medium enterprises (SMEs), made by Work and Pensions Committee (WPC) chair Frank Field
03/01/2019
The Financial Ombudsman Service (FOS) is expecting to receive 14,500 investment and pension complaints to over 2018/2019, a 15 per cent increase on the 12,632 received over the previous year
03/1/19
The Pensions Protection Fund (PPF) has said it is aiming to conclude the first set of compensation payments, for those affected by the Court of Justice of the European Union (CJEU) ruling, by April 2019
02/1/19
In a week in which state pensions celebrates its 110th birthday, and the day that kick starts pensions for the year ahead, could 2019 be a revolutionary one for the industry?
02/1/19
The government's Single Financial Guidance Body (SFGB) went live yesterday (1 January 2019), aiming to consolidate government-sponsored financial guidance
02/01/2019
Nearly a quarter of a million (245,561) NHS workers have opted out of the NHS pension scheme in the last three years, according to a Freedom of Information request from the Health Service Journal
02/01/19
Employers would support a “small increase” in automatic enrolment pension contributions after the planned April 2019 rise, a report from the Association of Consulting Actuaries (ACA) has found
02/1/19
The combined deficit of FTSE 100 DB pension schemes dropped by £13bn to £20bn over the past 12 months, according to JLT Employee Benefits' latest monthly funding update
02/01/2019
Jack Gray discusses the increased enforcement activity by TPR in the build up to the holidays
21/12/18
So much has happened within pensions in 2018, but what have been the most read stories in pensions of the year? Natalie Tuck looks back over the year
21/12/18
Pension withdrawals through drawdown or cash withdrawals totalled £5.7bn in 2017, new data from the Association of British Insurers (ABI) has revealed
21/12/18
From the introduction of the master trust authorisation regime, the beginnings of a collective defined contribution scheme to warning of a mis-selling scandal around DB transfers and several key rulings in the courts that impact pensions, 2018 has been anything but quiet. Natalie Tuck looks back on the year
21/12/18
Firefighters and a group of 230 judges have won their legal case against the government that changes made to their pension schemes were discriminatory
20/12/18
Jack Gray looks back over his first months as a pensions journalist and his initial thoughts on the issues facing the industry
20/12/2018
Uber has lost its latest appeal against a court decision that found its drivers should be regarded as workers, not self-employed, thus confirming the workers’ pension rights
20/12/2018
The ban on pension cold-calling has been approved by parliament and will take effect from 9 January 2019 to help tackle pension scams
20/12/2018
The Pensions Regulator is to prosecute an accounts manager who is suspected of misleading the regulator, in order to hide a failure to provide workplace pensions at a number of restaurants
20/12/18
Work and Pensions Committee Chair, Frank Field, has asked for further information from the Department for Work and Pensions (DWP) regarding complaints by women affected by changes to the state pension age
20/12/2018
The Pensions Ombudsman has released a consultation on making a new provision for dispute resolution, in particular “a function for early resolution of disputes before a determination”
19/12/2018
Society of Professional Pensions legislation committee member Shayala McRae considers how TPR will deliver its new funding standards
19/12/18
The Pensions Regulator has questioned six people in connection with a suspected pension fraud totalling £18m, it has revealed
19/12/18
The UK government has released guidance confirming that UK nationals living in the European Union (EU) will still receive their state pension in a no deal Brexit scenario
19/12/2018
TPG Sixth Street Partners (TSSP) plans to invest £500m in DB pension consolidator Clara-Pensions and become its provider of long-term capital
19/12/2018
The Consumer Prices Index rate of inflation dropped down to 2.3 per cent over November, down from 2.4 per cent in October 2018, the Office for National Statistics has revealed
19/12/18
The Pension’s Regulator’s new chief executive Charles Counsell will have “a long way to go” to prove he can transform the regulator, Work and Pensions Committee Chair Frank Field has said
18/12/18
The Competition and Markets Authority (CMA) has published an update paper outlining serious competition concerns, and has proposed changes to legislation, to improve the audit sector to benefit both savers and investors
18/12/18
The government is set to launch a number of trials with key pension providers, aimed at prompting self-employed individuals to save
18/12/18
The USS Trustee has formally commenced a consultation asking employers for comments on the proposed deficit recovery plan to conclude the 2017 valuation
18/12/2018
Automatic enrolment opt-out levels have “remained consistent” following the first planned contribution rise in April 2018, a new report has revealed
18/12/18
The Financial Reporting Council should be scrapped and replaced with an independent statutory regulator, according to Sir John Kingman
18/12/18
GMB members working for the Historic Royal Palaces (HRP) have voted to strike over the loss of their pension, starting 8 January 2019
18/12/18
The Pensions Regulator has named Charles Counsell as its new chief executive, taking over from Lesley Titcomb who will leave in February 2019
18/12/18
Reuters has agreed a £625m full pensioner buy-in with Canada Life for the Reuters Pension Fund, which covers the majority of the pensioner liabilities in the £2.2bn fund
17/12/18
Anthony Arter has been reappointed as Pensions Ombudsman and Pension Protection Fund Ombudsman for a further two years
17/12/2018
The government has announced that it will publish a paper setting out “targeted interventions and partnerships” to boost pension saving amongst the self-employed early next year
17/12/2018
State pension income made up an average of 57 per cent of the total retirement income for those aged over 65, with the state pension age providing “the bedrock for later life”, according to research from Just Group
17/12/2018
Former BHS owner Dominic Chappell has been fined £124,000 for failing to hand over information to The Pensions Regulator in relation to the collapsed retail chain’s pension scheme
14/12/18
Six of the UK’s largest contracting firms, some with leading government contracts, have a combined pensions deficit of £730.2m, according to their financial reports
14/12/18
TPR executive director of frontline regulation Nicola Parish discusses the impact of being clearer, quicker and tougher
14/12/14
Following months of speculation, the Financial Ombudsman Service (FOS) has issued landmark decisions against Liberty Sipp, the self-invested personal pension (SIPP) provider that has recently come under fire
14/12/18
Trustees must hold investment consultants to account over environmental, social and governance (ESG) issues, the Association of Member Nominated Trustees (AMNT) has said
14/12/18
The latest mandates and news in brief from the past week
14/12/18
UK defined benefit pension schemes are forecasted to pay out almost one-third of a trillion pounds between 2019 and 2021, according to new research by Mercer
14/12/18
Pensions Policy Institute director Chris Curry discusses the uncertain times ahead and the issues facing savers
13/12/18
Women and men both face years in “not good” health before they reach retirement, data from the Office of National Statistics has shown
13/12/18
The Pensions Regulator has put a fresh warning out to trustees, urging them to check if they fall under master trust legislation
13/12/18
Defined benefit pension transfer values increased to £8.6bn in the third quarter of 2018, data from the Office for National Statistics has revealed
13/12/18
The “squeezed middle” are the people that are most worried about having adequate retirement savings, Aon has revealed
13/12/18
Theo Andrew discusses the merry-go-round of Work and Pensions Secretaries that 2018 has seen
13/12/18
The Financial Conduct Authority (FCA) has launched a consultation on permitted links, aimed at addressing “unjustified barriers” for defined contribution pension schemes looking to invest in patient capital
12/12/18
RPMI Railpen has announced that its chief executive officer (CEO), Phil Willcock, is to depart the company after 10 months in the role
12/12/2018
The recommendations detailed in the Competition and Markets Authority’s (CMA) final report have broadly been met with support from industry members, who have encouraged others to implement the suggestions as soon as possible
12/12/2018
The Pension Protection Fund has confirmed that the levy it expects to collect for 2019/20 will be £500m, a drop of £50m on 2018/19
12/12/18
Pension schemes must run a competitive tender before choosing a fiduciary manager for more than 20 per cent of its assets, and if already delegated they must do so in the first five years, the Competition and Markets Authority (CMA) has confirmed
12/12/18
Dixons Carphone has estimated that the recent court ruling on guaranteed minimum pension equalisation will increase its liabilities by £18m, according to the company’s interim report
12/12/2018
The shortlist has now been announced for the Pensions Age Awards 2019
12/12/18
The number of master trusts that have applied for authorisation remains at one, with no new applications recorded over November, it has been revealed
11/12/18
The number of people who have been automatically enrolled into a pension scheme has increased to 9.96 million over November, according to The Pension Regulator’s latest figures
11/12/18
The number of workers aged 50-64 has increased by one million in less than five years to a record high of 9.04 million, research from the Office for National Statistics (ONS) has found
11/12/2018
The aggregate funding position of schemes in the PPF 7800 has moved into a £14.3bn surplus, after the lifeboat updated its index calculations
11/12/18
The Pensions Regulator (TPR) has launched its first fraud and employer-related investments prosecution against an accountant
11/12/2018
A hard Brexit scenario could result in a £219bn increase in the aggregate buyout deficit of UK pension funds, according to Cardano
11/12/2018
Scor has completed a £1.2bn longevity reinsurance deal with Pensions Insurance Corporation (PIC), covering six of its defined benefit schemes
11/12/18
The retirement age for ambulance staff should be brought in line with other emergency service workers, after 250,000 people signed a petition in support of the changes
10/12/18
The Pensions Regulator (TPR) has said it is “working closely” with Interserve and its pension scheme trustees, following news that it was seeking a rescue plan
10/12/18
There has been “overwhelming support” for an initiative which seeks to offer members a pension uplift in exchange for their guaranteed annuity, according to Royal London
10/12/18
Just under half (49 per cent) of consumers do not think that Financial Services Compensation Scheme (FSCS) protection applies to pension products, research from Populus has found
10/12/2018
Equiniti has called for software and administration providers to work together on ensuring that the dashboard is a “suitable platform”, especially in driving the early phases of its delivery
10/12/2018
Pension transfer values fell from £235,000 to £230,000 over November, fluctuating throughout the month, XPS Pensions Group has revealed
10/12/18
The bulk annuity market is expected to “remain at historically high levels” in 2019, with up to £30bn worth of deals, according to Willis Towers Watson (WTW)
10/12/2018
Royal London director of policy Steve Webb is in the running to become the next chief executive of The Pensions Regulator
7/12/18
Default options and simplified information and choices should be considered to help people make appropriate decisions for their retirement, a new report has said
7/12/18
PLSA policy lead: engagement, EU and regulation, James Walsh discusses the Brexit draft deal and its impact on pensions
07/12/18
Defined benefit consolidators looking to enter the market must approach The Pensions Regulator before doing so, new guidance issued today, 7 December, has said
7/12/18
A new legislative and regulatory regime requiring defined benefit superfunds to be authorised will be put in place under new plans announced by the government today, 7 December
7/12/18
New defined benefit pension superfunds could “offer a game-changing opportunity” to improve people’s pension security “and should be encouraged”, according to Royal London director of policy, Steve Webb
07/12/2018
The Financial Conduct Authority (FCA) has expressed its disappointment to have found that less than 50 per cent (49 per cent) of the pension transfer advice it reviewed was deemed as “suitable”
6/12/18
The Pension Protection Fund (PPF) has admitted is has concerns with the pre-pack administration sale of Johnston Press, stating it does not understand why there was an “apparent rush” to complete the pre-pack
06/12/18
Pension schemes should think about putting professional trustees in place where the “issues are so significant”, The Pensions Regulator has suggested
6/12/18
The Brexit Secretary, Stephen Barclay, has pledged to keep increasing the state pensions of UK nationals living in the European Union, even in the event of a ‘no deal’ scenario, but only if the EU reciprocates
06/12/18
Trustees must open their minds to a different range of investments on patient capital and other illiquid investments, Exchequer Secretary to the Treasury, Robert Jenrick, has urged
6/12/18
Pension scheme members that take advantage of the pension freedom reforms without taking advice first, risk paying too much tax, LEBC director of public policy, Kay Ingram, has warned
06/12/18
A new guide on patient capital and other illiquid investments for trustees has today been launched by the Pensions and Lifetime Savings Association
06/12/18
Four in five (80 per cent) of pension schemes think they are likely to become cash flow negative within the next five years, according to research by PwC
06/12/18
Almost two thirds of defined contribution pension schemes offer members flexibility with three or more investment and lifestyle strategies, new research has found
5/12/18
Implementation of the new cost and transparency templates should not be made compulsory, the Work and Pensions Committee has heard
5/12/18
Stagecoach has revealed that the cost of equalising guaranteed minimum pensions (GMPs) for men and women will cost £24.2m
05/12/18
Just over one quarter of the 15 biggest master trusts have questioned The Pension Regulator’s approach to supervision, a new report from the Pensions Management Institute (PMI) has found
5/12/18
The state pension age begins increasing to the age of 66 from 65 today, as analysis by Aegon reveals the proportion of people in receipt of the state pension has dropped in the past 10 years
05/12/18
The Court of Appeal has upheld last week’s High Court ruling against BT in a case regarding switching the indexation of pensions for around 80,000 members of its DB pension scheme
04/12/2018
The total deficit of FTSE 350 DB pension schemes fell to £17bn, as of 30 November, according to research from Mercer
04/12/2018
A cross-party group of 200 former and current MPs has called on the MPs’ Pension Fund to divest from fossil fuels
04/12/18
Rentokil Initial has secured £1.5bn of pensioner liabilities through a bulk annuity buy-in with Pension Insurance Corporation
04/12/18
Pensions Minister Guy Opperman has confirmed that the auto-enrolment earning threshold will stay frozen at £10,000 for 2019/20
04/12/2018
Two thirds (66 per cent) of British adults are in favour of compulsory pensions contributions, according to research from LCP and YouGov
04/12/2018
Almost half (44 per cent) of FTSE 350 DB pension schemes are now in surplus and 90 per cent could pay off their IAS 19 deficit with less than six month's earnings, according to Hymans Robertson
04/12/2018
The number of people visiting the ScamSmart website increased from 31,000 in the 55 days prior to the launch of the campaign to 173,000 in the 55 days after
04/12/2018
Retirement outcomes have improved through combining funded and pay-as-you-go pensions, automatic mechanisms and a strong safety net for pensioners, but the belief in systems and their ability to deliver is eroding, global policy forum OECD has found
04/12/18
Defined contribution fund charges in the UK are relatively low when compared to other developed countries, according to a new report from the Pensions Policy Institute (PPI)
04/12/2018
The Pension Protection Fund (PPF) has highlighted the significant risk in the DB pension universe in the 2017/18 financial year, despite an increase in the aggregate funding level in DB schemes
03/12/2018
Workers approaching retirement have named not having enough money as their biggest retirement fear, according to data from Hargreaves Lansdown
03/12/2018
The government has released its dashboard consultation and feasibility study, which has revealed its plan to have multiple pensions dashboards
03/12/2018
Southern Water will pay a further £50m into its pension scheme with “accelerated payments”, following an investigation by The Pensions Regulator (TPR)
03/12/2018
The combined deficit of FTSE 100 pension schemes dropped by £21bn to £1bn over the past 12 months, according to JLT Employee Benefits' latest monthly funding update.
03/12/2018
Prime Minister Theresa May has reaffirmed her support for the delivery and launch of the pensions dashboard
03/12/2018
The value of government bonuses paid to Hargreaves Lansdown Lifetime Isa customers has reached £50m, it has revealed
30/11/18
Association of Member Nominated Trustees co-chair, David Weeks, discusses how Brexit will impact the UK pensions industry and the preparations trustees are making
30/11/18
A judge has granted permission for a judicial review to be conducted to look into the alleged mishandling of raising the state pension age for women born in the 1950s
30/11/18
XPS Pension Group’s revenue increased by 113 per cent to £52.2m between 30 September 2017 and 30 September 2018, according to its latest interim results
30/11/18
Nearly all employers (97 per cent) are planning on either maintaining or increasing their spending on employee benefits over the next two years, according to new research from the CIPD and LCP
30/11/18
The deficit of UK defined benefit pension funds at the end of November was £230bn, the same as the end of the previous month, according to new data from PwC
30/11/18
Historical Royal Palaces (HRP) staff, including Beefeaters and Jewel House Wardens, could go on strike for the first time in 55 years over the closure of their pension scheme
29/11/2018
BT has announced that its pension scheme members will have the option of switching to its new ‘hybrid’ scheme on 1 April 2019
29/11/2018
The net surplus of the Daily Mail and General Trust’s (DMGT) DB schemes have increased to £244m, as of 30 September 2018, according to its full-year results
29/11/2018
Smaller defined benefit schemes could save up to £700,000 in costs if they group together when targeting full buyout, according to data from DB master trust Citrus
29/11/2018
Trade association PIMFA has called for an urgent review of the Financial Services Compensation Scheme (FSCS), following yet another announcement of an interim levy that the industry will be expected to fund
29/11/2018
Collective defined contribution (CDC) schemes “could provide members with greater certainty and potentially higher incomes”, according to the Pensions Policy Institute (PPI)
29/11/2018
The Pensions Age Spring Conference 2019 is now open for registration, offering pension funds and those working in the industry the opportunity to both learn and network alongside their peers
28/11/18
Just under a quarter (23 per cent) of people believe their retirement is likely to be a financial struggle, according to new research from Aviva
28/11/18
Those under the age of 40 are savvy when it comes to their saving habits, but are failing to focus on their pension and retirement planning, according to new research from The Nottingham Building Society
28/11/2018
The Financial Services Compensation Scheme (FSCS) has confirmed that it will increase its retail pool levy by £69m to cover its running costs
28/11/2018
The chief executive and trustee chair of Discovery Flexibles Limited has been convicted of refusing to answer The Pensions Regulator’s (TPR) questions and banned from being a trustee
28/11/2018
Baby boomers may be enjoying a “financial golden age”, but one in three (33 per cent) approaching retirement do not feel that they will have enough savings to retire on, according to new research from LV=
28/11/2018
The requirement for pension providers to guide consumers towards Pension Wise for advice does not come early enough, according to Royal London director of policy, Steve Webb
27/11/2018
More people have cashed their pension pot entirely after consulting Pension Wise (28%), when compared to those who have not utilised the service (17%), new research has revealed
27/11/2018
Almost one-third of 25-44 year olds have received no form of correspondence from any of their pension providers, new research has found
27/11/18
Savers who want to retire at 65 will need to “bridge the gap” created by the increasing state pension age and gender equalisation to ensure a comfortable retirement, according research from Aegon
27/11/2018
Just 24 per cent of 40 to 79 year-olds receiving professional financial advice are women, new data from Selectapension has revealed
27/11/18
More than 80 per cent of scheme managers claim that not enough is being done to educate trustees on cost transparency, according to data from Kas Bank
26/11/18
The pensions industry is split on how to approach guaranteed minimum pension (GMP) equalisation, as calls grow for more clarity on the High Court ruling
26/11/18
The amount of people transferring from defined benefit to defined contribution pension schemes has increased almost sevenfold in two years
26/11/18
Over 90 per cent of customers using the government’s Pension Wise service over 2017/18 were satisfied with the experience, a new evaluation of the scheme has found
26/11/18
Her Majesty’s Revenue & Customs (HMRC) has admitted that some scheme members are getting tax relief twice, while others are not receiving the tax relief they are due
26/11/18
Nearly six in 10 retirees aged between 50-65 were forced to quit work rather than choosing to leave because they did not need the income, according to new research from Just Group
26/11/18
Young workers risk being overconfident in their pension savings, which could cost them in the long run, according to research from BlackRock
23/11/18
The Universities Superannuation Scheme (USS) is to conduct another review of its funding position after protests by thousands of members who were told their benefits were unaffordable
23/11/18
The latest news and mandates from the past seven days
23/11/18
Pension contributions to company bosses must fall in line with the rest of the workforce or risk shareholder rebellion, according to the Investment Association (IA)
23/11/18
Up to eight out of 10 pension schemes’ employers could face additional costs due to the High Court ruling on GMP equalisation, according to XPS Pensions Group (XPS)
23/11/18
Women affected by the equalisation of the state pension age, and the lack of communication thereafter, have been left in a “grotesquely disadvantaged” situation, according to Work and Pensions Committee chair, Frank Field
22/11/18
Society of Pensions Professionals president, Paul McGlone, asks if schemes are well placed enough to take a contribution holiday
22/11/18
A group of cross-party MPs have teamed up with Unite to demand justice over the ‘clawback’ process which could reduce the income of 50,000 HSBC employees by up to £2,500 a year
22/11/18
A single, common reference scheme could allow upcoming work on GMP equalisation to be “broadened out such that GMP conversion extends to the whole of a member’s benefits”, according to the Association of Consulting Actuaries (ACA) chair, Jenny Condron
22/11/18
The Nationwide Pension Fund’s deficit fell by £262m over the past six months to £83m, according to Nationwide Building Society’s interim results for 2018
22/11/18
A number of leading industry names have agreed to sign up to a new joint venture, aimed at delivering a long-term governance solution to transfers
21/11/18
Work and Pensions Committee chair Frank Field has written to the Pension Protection Fund (PPF) over concerns it had regarding the deal for Johnston Press
21/11/18
Guy Opperman has defended the amount of newspaper coverage that state pension age equalisation has received, following complaints about the lack of communication
21/11/18
Fifty-six per cent of Lifetime Isa (LISA) customers are using the product to save for retirement, however, fears that the LISA could increase auto-enrolment opt-outs appear misplaced, AJ Bell has found.
21/11/18
Cost control is employers’ biggest barrier to offering their employees flexibility with their pension savings, according to Willis Towers Watson (WTW) research
21/11/18
The National Employment Savings Trust (Nest) and the Association of British Insurers (ABI) have formed a partnership, strengthening the close working relationship they already have
21/11/18
Retirees are not taking action on their concerns about the impact of market volatility on their retirement income sustainability, according to new research from Aegon
21/11/18
The Pensions Regulator (TPR) director of auto-enrolment, Darren Ryder, explains how TPR has been taking increased action against rule-breakers
20/11/2018
There must be flexibility for savers in the future pensions landscape to combat key challenges, Pensions Policy Institute (PPI) research has said
20/11/18
The Pension Protection Fund has expressed “concerns” surrounding the details of the Johnston Press deal, which will see its pension fund enter the lifeboat
20/11/18
The Compass Group is expecting guaranteed minimum pension (GMP) equalisation to cost between 1-2 per cent of liabilities, after it recorded a surplus of £346m for its main defined benefit scheme
20/11/18
The Co-op has announced that its pension fund plans to invest up to £50m into social and affordable housing over the next year
20/11/2018
Growth in fiduciary management mandates has slowed in 2018, growing by 9 per cent in the 12 months to June, compared to 30 per cent in 2017, analysis by KPMG has found
20/11/18
Work and Pensions Committee chair Frank Field has questioned the protections in place to ensure pension schemes are not being “dumped" onto the Pensions Protection Fund (PPF)
19/11/18
Poor choices in pension savings can lead to people feeling “depressed in later life”, according to analysis of the English Longitudinal Study of Ageing (ELSA) study
19/11/18
Trustees of the Johnston Press Pension Plan believe the scheme is likely to fall into the Pension Protection Fund (PPF), after Johnston Press said it is set to be placed into administration
19/11/18
The creation of a ‘Pensions Pound’ could lead to “radical simplification” of defined benefit pension rights, the Association of Consulting Actuaries (ACA) and Royal London have suggested
19/11/18
Over one million low earners are set to miss out on a combined tax top up of £78m a year, after increases in the personal allowance are set to exacerbate the “net pay anomaly” even further
19/11/18
Women’s pensions pots are 27.5 per cent smaller than men's, of those who shop around for a high guaranteed life income, according to LEBC analysis
19/11/18
Prime Minister Theresa May has appointed Amber Rudd, former Home Secretary, as the new Work and Pensions Secretary, replacing Esther McVey.
16/11/18
Saga has highlighted savers “affordability issues” after just 20-30 have taken up its ‘sidecar structured’ savings scheme since it was launched in January
16/11/18
The rate of quotation requests for DB transfers has fallen to 1.6 per cent of deferred members in Q3 2018, according to research from LCP
16/11/18
Mercer, Aon and Willis Towers Watson (WTW) have reiterated their criticism of the data used in the Competition and Market Authority’s (CMA) provisional decision report (PDR), in their response to the regulator’s updated results
16/11/18
Trustees are worried that smaller pension schemes could be an afterthought when plans to consolidate DB schemes come to fruition
16/11/18
The latest news in brief and mandates from the past seven days
16/11/18
Royal Mail has warned that there could be industrial action if it is unable to launch a collective defined contribution scheme because of legislation, and an alternative agreement cannot be reached
15/11/18
The recent High Court judgement on GMP equalisation could mean that up to £50bn of buy-ins may need to be “restructured” to accommodate the ruling, Aon has suggested
15/11/18
Over 90 per cent of Universities Superannuation Scheme (USS) employers have expressed support for the joint expert panel (JEP) recommendations regarding the 2017 valuation, despite proposing a number of caveats
15/11/18
Following Esther McVey’s announcement that she will be resigning as Work and Pensions Secretary, the Department for Work and Pensions (DWP) leadership has been described “as stable as a mobile home in a hurricane” by Quilter head of retirement policy, Jon Greer
15/11/18
Ninety-one per cent of defined contribution pension schemes submitted their scheme returns on time in 2017, The Pensions Regulator revealed, as it said more trustees are completing their duties earlier
15/11/18
The Pensions Regulator (TPR) declared that “feedback is always welcome” from industry members in regard to its regulatory approach
15/11/18
Over half (53 per cent) of income drawdown customers are withdrawing an income that is not sustainable for the rest of their life, according to analysis by Royal London
15/11/18
Secretary of State for Work and Pensions, Esther McVey, has resigned over Prime Minister Theresa May’s Brexit deal
15/11/18
More than 156,000 pensioners who keep their pot invested throughout retirement do not have a cash “safety net” in the event of a falling market, Zurich has found
14/11/18
Sixty-one per cent of pension schemes say they do not have sufficient data to equalise guaranteed minimum pensions (GMPs), according to research from Herbert Smith Freehills
14/11/18
Almost four in 10 (38 per cent) of trustees have not enacted any of the ‘fair treatment actions’ that The Pensions Regulator (TPR) outlined earlier this year, it was revealed at Pensions Age's inaugural Great Western Conference (GWC)
14/11/18
A record-breaking 2018 for bulk annuities is likely to be surpassed in 2019, according to Hymans Robertson report
14/11/18
UK pension savers need to save seven times their annual household income by the time they hit 68, in order to maintain their lifestyle in retirement, Fidelity International has found
14/11/18
The government is expected to save £11bn as a result of increases to the state pension age, according to analysis by Aegon
14/11/18
Seventy-four per cent of defined contribution members are interested in comparing the performance of their pension scheme with others in the market, it has been revealed
14/11/18
Premier Foods has recorded a £282.7m combined pension surplus, according to its half-year report, in which it announced that its CEO Gavin Darby would be stepping down
13/11/18
The Pensions and Lifetime Savings Association has said it will publish revised national retirement income targets in early February
13/11/2018
BNP Paribas is planning on undertaking an enhanced transfer value (ETV) exercise for its defined benefit pension schemes, it has revealed
13/11/2018
The Pensions Minister Guy Opperman has put “pressure” on the financial services industry to do more to ensure the financial wellbeing of their employees
13/11/18
The aggregate deficit of schemes in the PPF 7800 Index increased by £69bn over October, the Pension Protection Fund has revealed
13/11/2018
Nest Insight has launched its sidecar savings trial, with Timpson named as the first employer to pilot the savings model from the start of 2019
13/11/18
PLSA policy lead: engagement, EU and regulation James Walsh discusses how the uncertainty of Brexit is pushing it down pension schemes' agenda
12/11/18
The Pensions Regulator has launched a new website in order to deliver a “clearer and simpler” experience for users
12/11/18
Brunel Pensions Partnership, a Local Government Pension Scheme (LGPS) pool, has outlined its expectations of companies regarding its sustainable development goals (SDG) in a new policy paper
12/11/18
Some DB pension schemes have put a temporary block on transfers while they assess what effect the recent High Court ruling on guaranteed minimum pensions (GMPs) may have, according to Royal London
12/11/2018
Half of individuals (50 per cent) aged over 40 have the basic knowledge required to make good pension decisions, according to new research from Just Group
12/11/2018
Work and Pensions Committee chair Frank Field will have a private meeting with the Insolvency Service to obtain more detail on the investigations around the collapse of BHS, it has emerged
12/11/18
The Pensions Administration Standards Association deputy chair Kim Gubler writes about her recent experience discussing DC at pensions conference in Bahrain
09/11/18
Willis Tower’s Watson’s UK DC master trust, Lifesight, is the first master trust to apply for authorisation with The Pensions Regulator, it has revealed
09/11/18
The latest news and mandates from the past seven days...
09/11/18
The Treasury Committee has today announced a probe into vulnerable customers and how they are served by the financial services industry
09/11/18
The Department for Education (DFE) has estimated that increasing the employer contribution to the Teachers’ Pension Scheme (TPS) for 2020/21 will increase the cost to further education employers by £142m
09/11/2018
A number of large defined benefit schemes have already started assessing the impact of the landmark High Court Ruling on guaranteed minimum pensions (GMP), it has been revealed
08/11/18
The National Grid UK Pension Scheme recorded a surplus of £1.28bn as of 30 September 2018, an increase of £172m from 31 March 2018
08/11/2018
Registration is now open for the 2019 Sustainability Summit, which offers pension funds, insurance companies, charities and corporates the chance to learn and network alongside their peers
08/11/18
Sainsbury’s defined benefit pension scheme recorded a £168m net of tax surplus in its latest results, a £429m swing from its March 2018 deficit of £261m, according to its half-year report
08/11/18
Defined benefit pension transfer values fluctuated and had the biggest monthly change for over a year during October 2018, increasing by the end of the month to £235,000
08/11/2018
The shareholders of JLT have approved the deal for Marsh and McClennan Companies (MMC) to purchase the broker for $5.6bn (£4.3bn)
08/11/18
Just one master trust has applied for authorisation since new legislation around the fit and proper running of the schemes came into force on 1 October, TPR has said
07/11/18
The government has published a policy paper on its reform to tax exemptions for employer contributions into certain overseas pension schemes, first published in July 2018
07/11/18
Twenty-nine per cent of pension savers said they would invest more into their pension if they knew the Financial Services Compensation Scheme (FSCS) protected it, new research has revealed
07/11/18
Local Pensions Partnership (LPP) has appointed Sarah Laessig and Jill Mackenzie to the LPP board as non-executive directors and Martin Tully to the LPP investments board as a non-executive director
07/11/2018
The number of trustees that believe that Brexit investment implications are the top risk to DB pension schemes continue to increase, according to data from PTL
07/11/2018
The Cost Transparency Initiative (CTI) has today been launched, with the aim of bringing pension fund trustees new clarity from asset managers on costs and charges
07/11/18
The Supreme Court has ruled that Barnardo’s must use the Retail Prices Index (RPI) as its measure of inflation in regard to pensions payments
07/11/2018
Two in five working adults aged between 46 and 55 do not know how much they have saved for retirement, Aviva has found
07/11/18
The Court of Justice of the European Union has ruled that a part-time recorder (fee-paid judge) should have his pension backdated to include his service prior to the introduction of a UK law that enabled him to accrue a pension
7/11/18
The Pensions Regulator has written to 24 trustees over risks of members transferring from defined benefit to defined contribution schemes “since the summer”, it has revealed
07/11/18
A rise in passive investing can “co-exist” alongside investors’ desire to preference investments that embody their values and longer-term goals, the Financial Conduct Authority has said
07/11/18
More than half (54 per cent) of self-employed workers would welcome further government support in pensions saving, according to research conducted by Prudential
07/11/2018
Society of Pension Professionals investment committee member Christy Jesudasan looks at how, with regards to investments, pension schemes should prepare for Brexit
06/11/18
Just 5 per cent of corporate pension funds in the UK have a specific climate change policy, despite 74 per cent of funds admitting that they recognise the potential impact of climate change
06/11/18
The employer cost cap for public service pension schemes has been described as a “car crash”, after it emerged that some pension funds could have potentially breached the limits
06/11/18
The government’s release of its collective defined contribution (CDC) pension scheme consultation has been met with a mixed response from those within the industry
06/11/2018
The Department for Work and Pensions (DWP) has launched its consultation on collective defined benefit (CDC) schemes
06/11/2018
PPI director Chris Curry takes a look at what Brexit means for private pensions
05/11/18
LEBC Group has welcomed a government consultation on helping the self-employed save for retirement and has proposed two measures to “level the playing field” between the employed and self-employed
05/11/2018
The collective FTSE 350 pension scheme deficit hit £36bn over October in the “largest swing in month end deficits” since August 2016, Mercer has said
05/11/18
The government and regulators need to “act quickly” to clarify what the recent ruling in the Lloyds Bank case over guaranteed minimum pensions (GMPs) means for pension transfers, according to Royal London director of policy Steve Webb
05/11/2018
More than one in four (27 per cent) people aged over 55 do not realise that they have to pay tax on pensions savings if they take the money as cash, according to new research from Legal & General (L&G)
05/11/2018
The latest news in brief and mandates from the past seven days
02/11/18
Women’s state pension age will be equal to men’s state pension age from Tuesday the 6 November, after legislation was first passed in 1995
02/11/18
The government must look beyond patient capital when it comes to opening up defined contribution schemes to illiquid assets, it has been suggested
02/11/18
Around 89 per cent of staff at the University of Manchester have voted for strike action over plans to cut and close their pension scheme in a consultative ballot organised by Unison
02/11/2018
Flexible pension withdrawals hit a record high of 585,000 in Q3 2018, according to HMRC, up from 574,000 in Q2 2018
02/11/2018
An accountant has been fined £6,857.50 for falsely telling The Pensions Regulator that one of his clients’ staff, for which he acted on its behalf, had been enrolled into a pension scheme
01/11/18
Prime Minister Theresa May has promised that the Home Secretary, Sajid Javid, is working closely with the police to understand the impact of the pension changes, after police chiefs threatened legal action against the government this week
1/11/18
A faction of employees from the National Association of Schoolmasters Union of Women Teachers (NASUWT) have voted “almost unanimously” to strike against changes to their pensions
1/11/18
The combined deficit of FTSE 100 pension schemes dropped £15bn over the past 12 months, but JLT Employee Benefits has warned that the Lloyds ruling on Guaranteed Minimum Pensions (GMPs) could add £12bn to pension liabilities
01/11/18
The combined defined benefit deficit of schemes in PwC’s Skyval Index soared to £230bn at the end of October
01/11/18
Defined benefit trustees’ long-term strategy must be driven by their circumstance and not just through the valuation tools available, Aon has said
1/11/18
Over half of small and medium-sized enterprises (SME) have switched auto-enrolment provider, with a further 49 per cent planning to switch going forward, new research has found
31/10/18
Just Group’s defined benefit de-risking sales for the first nine months of 2018 increased by 91 per cent year-on-year to £1.08bn, according to its latest business update
31/10/18
Over £38m has been reclaimed by savers who were overtaxed on their pension freedoms withdrawals in the third quarter of 2018, marking the highest figure on record, according to HMRC's most recent Pension Schemes Newsletter
31/10/18
A further reduction to the discount rate used for valuing benefits and setting employer contribution rates will “increase public sector pension costs”, Aon has said
31/10/18
Nearly half of women (49 per cent) do not feel confident that they will have a comfortable retirement, compared to 33 per cent of men, according to research from Aegon
31/10/18
Around £40bn is expected to leave defined benefit schemes through bulk annuities and member transfers, in a “record-breaking year for risk transfer”, JLT Employee Benefits has said
31/10/18
Willis Towers Watson’s UK DC master trust, LifeSight, has announced that it will be allocating around half of the equity investments in the default fund to ESG investments by Q4 2018
31/10/18
The “burden” of auto-enrolment will “ultimately be borne by workers” as the policy is set to directly impact projected wage growth, according to the Office for Budget Responsibility (OBR)
30/10/18
A pre-existing anomaly which causes some low paid workers to not get the same tax relief as others on the same wage has been made worse by the 2018 Budget, according to Royal London
30/10/18
The government will net an extra £400m in tax from pension freedoms over 2018/19 taking its total yield to £1.3bn for the year, according to latest figures from the Office for Budget Responsibility (OBR)
30/10/18
The government has been urged to automatically enrol contractors and consultants who will be affected by the reform of the off-payroll working rules
30/10/18
Members of the Women Against State Pension Inequality (Waspi) group protested Philip Hammond's failure to address their concerns in yesterday’s Budget speech
30/10/18
Pensions tax reform was saved from the “pain of tinkering”, despite missed opportunities to fix the net pay anomaly and simplify pensions allowances, the industry has said
30/10/18
HMRC could be in line to jump ahead of pension schemes for funding when a business enters insolvency, is has been suggested
29/10/18
A reduction of the discount rate for calculating employer contributions in unfunded public service pension schemes has been confirmed in today’s (29 October) Budget
29/10/2018
The government has announced a boost to self-employed pensions in its Budget for 2018, confirming it will publish a paper to increase participation
29/10/2018
The government has been criticised for failing to address the net-pay taxation anomaly on some defined contribution pension schemes
29/10/18
Chancellor Philip Hammond has announced an additional £5m of funding to support the launch of the pension dashboard in his 2018 Budget
29/10/2018
The Chancellor Philip Hammond has paved the way to use billions of pounds of defined contribution pension money to fund fast-growing British technology companies
29/10/18
The government has launched legislation on banning pensions cold-calling, as part of it’s 2018 Budget
29/10/2018
The Chancellor’s decision to increase the higher rate personal allowance to £50,000 could see some employees’ government top-up on their pension contributions halved
29/10/18
Chancellor Philip Hammond has not made any cuts to the pensions allowances in his Budget, today 29 October
29/10/18
Two men who allowed pension funds worth millions of pounds to be put into “exotic, high risk and suspected scam investments” have been banned from acting as pension trustees.

The Pensions Regulator (TPR) has banned Stephen Alexander Ward and Anthony Salih after they put the funds under their trust into eucalyptus farms, hotel rooms on an African island and car park bays
29/10/2018
The Church of England Pensions Board and Sweden’s AP7 are leading a $2trn group of investors in challenging 55 large European companies on their approach to climate lobbying
29/10/18
Baroness Ros Altmann was “bullied and intimidated” by Sir Philip Green over the BHS pensions scandal, she has revealed
29/10/18
The Local Authortiy Pension Fund Forum (LAPFF) has again called on Ryanair to replace its chairman David Bonderman after the firm’s recent failure to tackle employment issues
29/10/18
Five FTSE 100 companies paid more in pension contributions than dividends to shareholders, as of 31 March 2018, as the tension between delivering shareholders value and funding schemes continues
29/10/2018
National recruitment agency Workchain has been ordered to pay £280,000 for plotting to illegally opt workers out of their pension scheme
26/10/18
The Competition and Markets Authority (CMA) has updated the results of its provisional decision report (PDR) on the investment consultants market, after it was called into question over “flawed” data
26/10/18
The latest news in brief and mandates from the past week
26/10/18
The pensions industry has welcomed the “clarity” that the High Court ruling on guaranteed minimum pensions (GMPs) brings, but one expert has said the case highlights the “nightmarish complexity” of pensions legislation
26/10/18
Lloyds has lost a landmark High Court case after it ruled that it must now equalise pensions benefits for men and women in what could have huge consequences for thousands of companies
26/10/18
Chancellor Philip Hammond is expected to unveil plans to use billions of pounds of defined contribution pension money to fund fast-growing British technology companies
26/10/18
Brunel Pension Partnership, a Local Government Pension Scheme (LGPS) pool, has invested £340m into two long-lease property funds
25/10/18
PMI technical consultant Tim Middleton looks at the "ominous precedent" set by the European Court of Justice's ruling on Pension Protection Fund compensation
25/10/18
Around 70 per cent of employers believe that The Pensions Regulator (TPR) needs more powers to help protect defined benefit pension schemes, according to research from the Association of Consulting Actuaries (ACA)
25/10/18
Debenhams has reported a pension scheme surplus of £159.4m as of 1 September 2018, despite posting record annual losses for the year
25/10/18
Ford Motor Company is planning to offer partial defined benefit transfers to members, it has revealed
25/10/18
Defined Benefit pension schemes must implement a decision-making framework as they approach the “endgame”, ensuring they are making the best decision for members, Redington has said
24/10/18
Businesses turning to master trusts as their main defined contribution pension scheme will double in the next three years as they look to enhance communication and improve outcomes
24/10/18
The average pension pot for a woman in the UK is five times less than a man’s, new research from the Chartered Insurance Institute (CII) has found
24/10/18
Pension fund returns are becoming more subdued and withdrawal rates are increasing, according to new data from Moneyfacts UK
24/10/18
Women who opt for a drawdown product have an income that is 37 per cent lower than men, according to new research by Zurich
24/10/18
Increasing employer contributions to the Teachers’ Pension Scheme (TPS) will cost employers £150m, which can only be met by “reducing the number of staff”, the Universities and Colleges Employers Association (UCEA) has warned
23/10/18
The chief executive of The Pensions Regulator has said that it has “some choices to make” on its resource allocation following the implementation of its new risk-based regulatory model
23/10/18
Whitbread’s defined benefit pension deficit has dropped by £127m over the last six months to £162m on an IAS19 accounting basis
23/10/18
Nest has revealed its plans to encourage the self-employed to save more for their retirement, following its latest research that has identified three main sub-groups that the self-employed fall into
23/10/18
More than three quarters (76 per cent) of people aged over-55 do not know that medical conditions or lifestyle choices could increase the money they receive from an annuity
23/10/18
The Association of British Insurers (ABI) has called for an end to the “salami-slicing approach” to cutting pensions tax relief and stated it is willing to work with the government on “longer-term reforms”
22/10/18
The Pension Superfund has appointed Richard Wohanka as chairman of the board of superfund trustees
22/10/18
The UK should help consumers understand the flexibility and risks of drawdown and move towards a decumulation model similar to the Netherlands, experts said at the Pensions and Lifetime Savings Association (PLSA) annual conference
22/10/2018
TPR executive director for regulatory policy, analysis and advice David Fairs said it will take two years before a pensions bill comes into effect, starting after the result of the upcoming consultation paper is published
22/10/2018
The four people behind a pension scam worth £13.7m have been banned from being trustees of pension schemes
22/10/18
Including a guaranteed income in the “asset mix” of a retirees portfolio could lead to a more “sustainable income” and “higher death benefits”, new research has found
22/10/18
The UK remained in 15th place in the Melbourne Mercer Global Pension Index for 2018, but has seen its overall score on the Index improve slightly
22/10/18
The pensions industry has a fixed mindset, despite a majority of people believing they have an individual growth mindset, it has been suggested
19/10/18
The average pensioner income is now higher than the average income of working age individuals, according to research from Resolution Foundation
19/10/18
The possibility of taxes on asset growth should be discussed more in the pensions industry than Brexit, journalist Andrew Marr has said
19/10/2018
Natalie Tuck speaks to PLSA policy board chair Emma Douglas on the need for a policy board and how it will work
19/10/18
'Generation K', or those now aged between 15 and 24, are “very different” to previous generations and more must be done to engage them with pensions, according to economist and author Noreena Hertz
19/10/18
The Competition and Markets Authority (CMA) has said that it hopes to publish the final decision of its investigation on investment consultants and the fiduciary management market by Christmas
19/10/18
The UK pensions industry must work together to build trust between members, trustees and employers in relation to master trusts, according to a panel of providers and trustees
18/10/18
The government has asked the pensions industry to consider putting more investment into infrastructure projects as it looks to remove barriers to investing
18/10/18
The Simpler Annual Statement has been unveiled by Pensions Minister Guy Opperman at the PLSA
18 October 2018
The mid-life MOT could bring a “commercial benefit” to businesses, Pensions Minister Guy Opperman has stated
18 October 2018
The Pensions Minister has confirmed that there will be new pensions legislation in summer 2019, in a speech at the Pensions and Lifetime Savings Association’s annual conference today, 18 October
18/10/18
The Pensions Minister has urged the industry to “get on with it” in relation to creating a pensions dashboard, emphasising the role of technology going forward
18/10/18
Defined benefit schemes need to change the way they look at long-term risk, find new frameworks and learn to say no to ensure a good future for their members, according to industry leaders
18/10/2018
The Pensions Regulator must “get the balance right” when writing to schemes over their dividend payments, its chief executive has said
18/10/18
The customer journey and value for money for pension savers are the two main areas of priority for The Pensions Regulator and Financial Conduct Authority’s joint pensions strategy, it has been revealed
18/10/18
Pension savers that wish to engage with stewardship “can’t find their way” due to “poor signposting” on pension provider websites, according to ShareAction investor engagement manager Anne-Marie Williams
18/10/18
Average pensioner incomes are likely to fall over the next “few” decades, according to the Pensions Policy Institute (PPI)
18/10/18
Employees from the Financial Conduct Authority and the Prudential Regulatory Authority have been seconded to The Pensions Regulator to help with work on the master trust authorisation regime
18/10/18
The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have today launched a joint regulatory strategy aimed at strengthening their relationship, and taking joint action to deliver better outcomes for pension savers and those entering retirement
18/10/18
The Pensions and Lifetime Savings Association’s proposed retirement income targets do risk putting some people off saving for a pension by potentially showing how unattainable their desired retirement lifestyle is, PLSA policy board chair Emma Douglas has admitted, but she would rather take that risk in order to benefit others
17/10/18
Top communications consultants revealed their best ideas to further engage with members in a pensions dragons den at the Pensions and Lifetime Savings Association (PLSA) Annual Conference in Liverpool, fighting over who had the best idea for how to show people outside the industry that pensions are, as chair of the session Steve Webb said, really rather riveting
17/10/18
Smart default schemes should be designed to ensure that members do not have to “engage repeatedly” throughout the life of their pensions, it has been suggested
17/10/18
The Social Housing Pension Scheme (SHPS) past service deficit has risen for the fifth consecutive valuation, from £1.3bn to £1.5bn, according to its valuation as at 30 September 2017
17/10/18
Simplifying the saving process for consumers is key to increasing their engagement in pensions, according to The Behavioural Insights Team (BIT)
17/10/18
Theo Andrew takes a coffee break with Pensions and Lifetime Savings Association (PLSA) chair Richard Butcher and talks about what, other than pensions, makes him tick and why hosting Top Gear would be a dream role
17/10/18
The government has given its strongest support yet for collective defined contribution (CDC) pension schemes ahead of its November consultation
17/10/18
The pensions industry cannot afford to be complacent despite the success of auto-enrolment, Pensions and Lifetime Savings Association chair Richard Butcher has said
17/10/18
The state pension is set to receive an above-inflation increase of 2.6 per cent, in line with average earnings growth, as part of the triple lock policy.
17/10/18
The “inadequate” minimum auto-enrolment contribution rate was “deliberately hard coded into the design” of the policy, Pensions and Lifetime Savings Association chair, Richard Butcher, will say as he opens the association’s annual conference today
17/10/18
Natalie Tuck reflects on the Pensions and Lifetime Savings Association's annual conference of 2017, as the 2018 conference kicks off today
17/10/18
Up to £20bn worth of pension pots could remain unclaimed, new research from the Pensions Policy Institute (PPI) has found
17/10/18
A group of 10 of the largest investment, savings and pensions trade bodies have endorsed a new joint venture aimed at delivering a long-term governance solution to transfers
16/10/18
Stena Line UK Group has chosen Ensign as its main defined contribution pension provider for the majority of its employees, both seagoing and shore-based
16/10/18
The HSBC UK pension scheme will invest £250m in renewable energy in Britain, following a competitive tender process
16/10/18
Around 37 per cent of pension schemes are in surplus against their funding target, according to new data released by Mercer
16/10/18
ITM has announced that it has acquired Faraday Tracing Bureau (FTB) for an undisclosed sum
16/10/18
The Pension Protection Fund (PPF) is working on increasing compensation payments “as quickly as possible” for those affected by the Court of Justice of the European Union (CJEU) ruling last month
15/10/18
Climate change is now not just an ethical concern, but a “practical consideration for the UK pension industry”, according to the Financial Conduct Authority (FCA)
15/10/18
Pensions freedom and choice could result in a tax revenue increase of £19bn over the next 10 years, according to the latest research from the Pensions Policy Institute (PPI)
15/10/18
Seventy-eight per cent of employers think that the pensions tapered annual allowance should be re-thought, according to the Association of Consulting Actuaries
15/10/18
Eighty-three per cent of employers admit that financial advice is something their employees would benefit from, according to figures from Chase de Vere
15/10/18
A cut to the annual allowance is the “most likely” change to pensions tax relief that Chancellor Philip Hammond will make, Royal London director of policy, Steve Webb, has predicted
15/10/18
The minimum contribution rate rise for auto-enrolment pension schemes has not deterred savers, with the “overwhelming majority” of people continuing to pay into their scheme, according to the Pensions and Lifetime Savings Association
15/10/18
The government has rejected calls from the Treasury Committee to fundamentally reform pensions tax relief after it said there was “no clear consensus” to do so
12/10/18
The Lifetime Isa (LISA) will remain available to the savers under 40, the government has confirmed, despite calls from the Treasury Select Committee for it to be scrapped
12/10/18
The latest news in brief and mandates from the past week
12/10/18
Almost half of medium size employers are paying more than the minimum 2 per cent pensions contributions to employees, The Pensions Regulator has revealed
12/10/18
The sidecar model of saving for the self-employed is a more attractive proposition than auto-enrolment or than having “open early access to pensions”, the Department for Work and Pensions (DWP) has said
12/10/18
Defined benefit pension transfer values fluctuated over September, falling slightly by the end of month to £230,000
12/10/18
The Competition and Markets Authority (CMA) has opened an investigation into the audit sector amid growing concerns over the standards of statutory audits
11/10/18
The Association of British Insurers has appointed Susan McInnes, CEO of Standard Life Assurance Limited (SLAL) and director of open business at Phoenix Group, as the new chair of its long-term savings committee
11/10/18
Engagement with pensions is an issue that everyone should be able to agree on, says Pensions Age reporter Jack Gray, but he looks at why it seems to have taken a backseat
11/10/18
Future retirees can expect to live longer, but retire with more debt, face higher living costs and be more dependent on defined contribution savings, according to new research
11/10/18
Over 90 per cent of small and micro employers said no members asked to leave their pension scheme following the increase of minimum auto-enrolment contributions in April 2018, The Pensions Regulator has revealed
11/10/18
Planned increases to the employer contributions of the Police Pension Scheme could lead to 10,000 fewer officers in the force from 2020/21, it has been warned
11/10/18
The Pensions Regulator has fined four trustees at Salvus Master Trust for failing to invest contributions of £1.4m promptly
11/10/18
Today, thousands of women affected by the changes to the equalisation of the state pension age are expected to march through London in protest of the changes; Natalie Tuck looks at the human cost of the policy change
10/10/18
Government regulatory “tinkering” and poor communication has led to a severe lack of trust in the UK pensions industry, it has been suggested
10/10/18
The average Brit underestimates the amount of money they need to retire by £169,000, according to new research by MoneySupermarket
10/10/2018
Schroders has announced the launch of its Sustainable Multi-Factor Equity (SMFE) fund that aims to provide a solution to DC members’ growing demand for sustainable investment
10/10/2018
The aggregate risk across FTSE 100 defined benefit pension schemes has fallen by 23.5 per cent since 2017, according to Cardano and Lincoln Pensions
10/10/18
The government is reportedly “looking at the opportunities” a digital tax system could bring to “tackle any differences” in the way pensions tax relief is paid
10/10/18
STM Group has acquired Carey Administration Holdings Limited (CAHL), majority owner of Carey Pensions UK, for £400,000
09/10/18
The deficit of defined benefit schemes in the PPF 7800 Index decreased by £26.6bn over September, ending the month on £38.7bn
09/10/18
The BT Pension Scheme (BTPS) has named Morten Nilsson as CEO of the £50bn its management arm
09/10/18

PPF purple trends
Laura Blows speaks to the Pension Protection Fund's chief financial officer Andy McKinnon about the latest version of the PPF's Purple Book

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