More Archive News

The government’s confidence has been called into question over its ability to publish the state pension data required to make the pensions dashboard work, it has been suggested
21/09/18
The latest news in brief and mandates from the past seven days
21/09/18
Nationwide’s pension fund deficit increased by £250m the day after the Brexit vote and a further £350m in the following three months, it has been revealed
21/09/2018
Former BHS owner, Dominic Chappell, has lost his appeal against his conviction that found him guilty of failing to hand over information to The Pensions Regulator in relation to the collapsed retail chain's pension scheme.

Chappell, who famously bought the store off Philip Green for £1, was convicted at Brighton Magistrates’ Court in January this year
21/09/18
The Pensions Regulator has said it is looking for somebody who can be “bold and take tough decisions” as it looks to appoint a new chief executive by the end of the year
21/09/18
KAS Bank has developed a cost transparency dashboard to help asset owners understand and keep track of the costs involved in a pension scheme
21/09/18
Richard Law-Deeks has been named as chief executive officer of the Royal Mail Pension Plan (RMPP), taking the role with immediate effect
21/09/2018
Several pension companies have called on their shareholders to vote against the re-election of Ryanair chairman, David Bonderman, at the company’s AGM
20/09/2018
Fifty-six per cent of advisers support an enabling of an effective triage process by the FCA for clients considering seeking advice on DB transfers, and there is also strong support for a continued contingent charging option, including among firms not offering DB transfer advice
20/09/18
A potential cut to the pensions annual allowance at the Autumn Budget, in order to find extra money for the NHS, could drive doctors away, it has been suggested
20/09/18
The Pensions Regulator (TPR) has identified around 50 pension schemes to “probe” over “excessive” dividend payments relative to pension contributions
20/09/2018
The Pension Protection Fund has set its next levy estimate at £500m for 2019/20, a drop of £50m on the 2018/19 estimate
20/09/18
Work and Pensions Committee chair, Frank Field, has questioned The Pensions Regulator’s chief executive, Lesley Titcomb, on the lessons that can be learnt from the Kodak pension scheme, after it was revealed it is “likely” to enter the Pension Protection Fund
19/09/18
The Pensions Advisory Service (TPAS) has been contacted by 185,509 pension savers over the past year, a fall on the previous year’s recording of over 200,000 pensions queries
19/09/18
Local pension board and committee members have high levels of confidence in all areas of responsibility, according to a nationwide survey of the Local Government Pension Scheme (LGPS)
19/09/2018
Over 20 major pension providers have called on the government to provide clear direction on key elements of the pensions dashboard, including compulsion and state pension data
19/09/18
Trustees should be encouraged to proactively provide transfer value information to members, in order for them to make “informed choices” over their pensions
19/09/18
The inflation rate in the UK unexpectedly increased in August, reaching 2.7 per cent, the highest rate seen in six-months, after economists had expected a consumer prices index (CPI) rate of 2.4 per cent, the Office for National Statistics (ONS) revealed
19/09/18
Members of the Kodak Pension Plan (no. 2) (KPP2) have been told by the scheme’s trustees that it is “likely” the scheme will enter the Pension Protection Fund
18/09/18
Scrapping the pensions triple lock could lead to "efficiency gains" for the NHS, the International Monetary Fund (IMF) has said
18/09/18
The Financial Conduct Authority’s chief executive, Andrew Bailey, has said he is “not convinced” of introducing a charge cap on drawdown products
18/09/18
The Department for Work and Pensions (DWP) and The Pensions Regulator (TPR) have released a statement clarifying signposting provisions to The Pensions Ombudsman (TPO) and The Pensions Advisory Service (TPAS)
18/09/2018
XPS Pensions Group is to acquire Kier Pensions Unit for £3.5m, in a bid to strengthen its administration offering
18/09/18
Marsh & McLennan Companies, Mercer’s parent company, has reached an agreement to purchase JLT for $5.6bn (£4.3bn)
18/09/2018
Workplace pension schemes will come under greater scrutiny from The Pensions Regulator (TPR) from October 2018, its new report says
17/09/2018
The Home Secretary Sajid Javid has recommended scrapping automatic enrolment if Britain were to leave the European Union without a deal
17/09/18
Reporter Theo Andrew looks at why the divisive Work and Pensions Committee chair, Frank Field, is vital within the industry
17/09/18
Pension investors should consider purchasing a partial annuity while rates are strong and ahead of any “Brexit jitters”, it has been suggested
17/09/18
The equalisation of pensions tax relief for higher and lower rate income taxpayers has been listed as part of a major tax shake-up proposed by the Liberal Democrats
17/09/18
Greene King’s Spirit Pension Scheme has completed a £50m bulk annuity deal with Scottish Widows
17/09/18
Many smaller defined contribution pension schemes are not demonstrating that they are providing good value for members, according to new data provided by The Pensions Regulator (TPR)
14/09/2018
The Pensions Awareness Day bus has been making its way around the country all week, with it reaching London tomorrow, 15 September, in time for Pensions Awareness Day 2018
14/09/18
Living in Brighton for nearly all of my 24 years I know the appeal of relaxing on the south coast of England
14/09/2018
The latest news in brief and mandates from the past seven days
14/09/18
The joint expert panel assessing the pensions dispute over the Universities Superannuation Scheme has set out a list of recommended changes to the 2017 valuation, in a report published yesterday (13 September)
14/09/2018
The success of automatic enrolment is in danger of being “oversold” once April 2019 contribution increases go through, it has been said
13/09/18
Pensioners in London have only £6 left over on average after their monthly household spending, according to new research from the Office for National Statistics
13/09/2018
Defined benefit pension transfer values remained stable over August, fluctuating mildly over the month, according to the latest data
13/09/18
British Airways has agreed on a £4.4bn buy-in with Legal and General for its Airways Pension Scheme (APS), the largest bulk annuity transaction ever completed in the UK market
13/09/18
The young, low earners and women are behind a “pensions revolution”, according to Work and Pensions Secretary Esther McVey
12/09/18
Andrew Warwick-Thompson is due to step down from his role as CEO of LGPS Central in Spring 2019
12/09/18
The amount of people aged over 65 in employment more than doubled between 2006 and July 2018, according to a recent report from the Office for National Statistics
12/09/2018
Around 90 per cent of people aged under 20 log in online to view their workplace pension, in comparison to 75 per cent of over 60s, new data from Hargreaves Lansdown has revealed
12/09/2018
The current £500bn UK DB deficit could be halved if pension schemes look beyond traditional methods of creating value, according to research by Hymans Robertson
12/09/2018
The government has confirmed that trustees will not be required act on members’ views on how the pension scheme is invested, following initial confusion in its draft consultation
11/09/18
The DWP has had to halt and alter plans for new regulations regarding pension compensation for employees of companies that enter insolvency
11/09/18
New data from The Pensions Regulator has highlighted the increase in workplace pension participation following the introduction of auto-enrolment
11/09/2018
The Department for Work and Pensions (DWP) has rejected a suggestion to allow individuals to retain their previous pension provider after they change jobs
11/09/2018
Millennials value owning a cat or a dog (23 per cent) over having a comfortable pension (20 per cent) according to a new survey from the Association of British Insurers (ABI)
11/09/18
The deficit of DB schemes in the PPF 7800 Index increased from £62.8bn at the end of July 2018 to £65.3bn at the end of August 2018
11/09/2018
Over 60 per cent of the world’s largest public pension funds are in danger of beaching their legal climate change duties, a new study from Asset Owners Disclosure Project (AODP) has found
10/09/2018
Pension Insurance Corporation (PIC) has recorded its best ever half year results, after the group insured £3.3bn of pension scheme liabilities
10/09/18
Small defined benefit schemes are “lagging behind” larger schemes when it comes to good governance, The Pensions Regulator has found
10/09/18
Over half (51 per cent) of people aged 65 and older recommend waiting until reaching state pension age before using retirement funds, according to new research from Just Group
10/09/2018
The Pensions Superfund has named Luke Webster as the replacement for Alan Rubenstein, who announced he would be stepping-down on Friday, September 7
10/09/18
More than a fifth (21 per cent) of FTSE 350 companies with a DB pension scheme do not disclose their funding deficit or surplus position, according to new research from Lincoln Pensions
10/09/2018
The number of people taking a full cash withdrawal from their pension pots has fallen by 9 per cent , Financial Conduct Authority (FCA) data has revealed
07/09/18
The UK moved up one place in the 2018 annual Natixis Global Retirement Index (GRI) to 17th, following improvements in the material wellbeing, quality of life and health sub-indexes.
07/09/2018
News and mandates in brief from the past seven days...
07/09/2018
The government has scrapped its plans to abolish class two National Insurance Contributions in “yet another betrayal of the self-employed”, it has been said
07/09/18
Average contributions into private sector DC pension schemes during 2017 fell to 3.4 per cent, Office for National Statistics results have revealed
06/09/18
A record high 21 per cent of institutional investors are looking to increase their holdings of UK assets, despite fears over the impact of Brexit, the State Street Brexometer Index has revealed
06/09/18
Just Group has reported an 85 per cent increase in profits, driven by an 88 per cent growth in new business profit, its half year results have revealed
06/09/18
The Pensions Protection Fund (PPF) must pay at least 50 per cent of members pensions entitlement to individuals whose employers have fallen into the fund, the European Court of Justice (ECJ) has judged
06/09/18
The need for greater transparency in defined contribution default strategies has been highlighted in a new report from the Pensions Policy Institute (PPI)
06/09/2018
Melrose will contribute £270m to the £1.24bn GKN pension schemes upon the sale of its Powder Metallurgy business, after confirming the appointment of an independent chairman to the scheme
06/09/18
At least 24 of the 89 master trusts are expected to quit the market when the new authorisation requirements come into force, according to The Pensions Regulator (TPR)
06/09/2018
The Pensions Regulator’s (TPR) has named Jo Hill as its new executive director of strategy and risk
05/09/2018
Pension funds could be subject sanctions like Local Government Pension Schemes (LGPS) are if they fail to supply data requested of them to the scheme, it has been suggested
05/09/18
The government’s announcement that they will back the pensions industry to deliver a pensions dashboard is a “huge breakthrough”, according to director of policy at Royal London, Steve Webb
05/09/2018
The government has confirmed that it will launch a formal consultation into the first Collective Defined Contribution (CDC) pension schemes in the autumn
04/09/18
Work and Pensions Secretary Esther McVey has backed the industry to deliver the pensions dashboard, after months of speculation surrounding the project
04/09/18
Nest issued an invitation to tender for fund managers today, 4 September, to support the evolution of its investment strategy
04/09/2018
Defined contribution investment strategies are “at least a decade” behind defined benefit strategies, it has been said
04/09/18
Fifty-three per cent of people are worried about the governments delay in implementing a cold calling ban, according to a recent study by Aegon
04/09/2018
Around 55 per cent of people not saving into a pension blame low income, lack of work or still being in education, an increase of 17 per cent from 38 per cent in 2010-12
04/09/2018
Welsh local government pension funds could be acting unlawfully by investing in fracking companies
04/09/18
Self-invested personal pension (Sipp) provider Mattioli Woods has ceased giving pension transfer advice to people with safeguarded or defined benefit pensions
04/09/18
The FTSE 350 defined benefit pension deficit increased for the second consecutive month, from £32bn to £34bn, as of 31 August 2018, according to Mercer’s Pension Risk Survey
04/09/2018
Standard Life Aberdeen has completed the £3bn sale of Standard Life Assurance to Phoenix Group
03/09/18
Prudential has agreed to a new annuity distribution agreement with HUB Financial Solutions, part of Just Group plc, to expand its range of annuity products
03/09/18
An FCA clampdown on the triage process when clients ask about pension transfers risks poor consumer outcomes, Royal London has argued, despite huge variations in how firms triage pension transfer inquiries
03/09/18
More than two fifths (43 per cent) of under-45s risk not having enough money to fund their retirement, a new study has found
03/09/18
The latest monthly defined benefit (DB) funding indexes have shown that FTSE 100 pension schemes have fallen back into deficit, after breaking into surplus for the first time in 10 years last month
03/09/2018
Melrose is exploring de-risking options with a number of insurers for its £500m GKN pension scheme, it has been reported
31/08/18
The government’s National Fraud Initiative (NFI) has saved £144.8m in pension fraud and overpayments over the past two years, it has been said.
31/08/18
News and mandates from the past seven days
31/08/18
Fifty-three per cent of under-35s wish their employers would explain pensions and benefits to them, a new report has revealed
31/08/18
Whitbread has said it will make a contribution to its pension fund as part of its proposed £3.9bn sale of Costa Coffee to The Coca-Cola Company
31/08/18
Work and Pensions Committee chair Frank Field has resigned from the Labour Party whip, putting his role as committee chair in doubt.
31/08/18
Around 10 million UK residents could retire with £15,000 less in their pension pots if the government abandons the pension dashboard
30/08/18
Pension Insurance Corporation (PIC) has invested £145 million in debt issued by Durham University
30/08/18
The government should consider allowing consumers to sell their annuities on a secondary market, Liberal Democrat spokesperson for work and pensions Stephen Lloyd MP has said.
30/08/18
Hays Recruitment has completed a £270.6m buy in with Canada Life, as it looks achieve a full buy out of the £1bn scheme
30/08/18
Prime Minister Theresa May aims to use money from pension funds to help generate up to a total of £8bn of public and private investments across Africa over the next four years
29/08/18
The Local Authority Pension Fund Forum (LAPFF) has branded the Financial Reporting Council (FRC) unworkable and has called for it to be broken up, it has emerged
29/08/18
The Pensions Regulator (TPR) has advised some DB pension schemes to consider reducing their transfer values on offers to workers transferring out of the scheme.
29/08/18
The Pensions Ombudsman (TPO) has said it will be unable to handle new investigations as they come in despite a late call to recruit additional resources
29/08/18
Public sector workers retire on a pension on average three times larger their private sector counterparts, a TaxPayers’ Alliance report has revealed
28/08/18
Chancellor Philip Hammond is expected to cut pension tax relief for thousands of the highest earners taxpayers to help pay for a proposed £20bn a year increase in NHS funding, according to the Daily Mail
28/09/18
Melrose has put on hold plans to sell one of its American subsidiaries for $800m from which funds were marked for the GKN pension scheme
28/08/18
The Centre for Policy Studies (CPS) has called for pension tax relief to be scrapped in an attempt to aid low income savers and save the Treasury an estimated £10bn per year
28/08/18
Company bosses approaching insolvency could be fined if they fail to protect the firm’s pension fund, new government proposals have revealed
28/08/18
Aon believes the UK pension industry needs to have a clearer definition of what it means by ‘good outcomes’ for members of pension schemes, if investment strategies are to fulfil their aims
24/08/2018
Link Fund Solutions has received FCA regulatory approval for the LF ACCESS Pool Authorised Contractual Scheme (ACS) and first sub-fund
24/08/2018
Thirty-one per cent of the self-employed plan to rely entirely on the state pension in retirement, research by Prudential has found
24/08/2018
Increased administration is the biggest challenge for employers, Barnett Waddingham has found
23/08/2018
The Association of British Insurers (ABI) has urged the government to agree a Brexit deal “as a matter of urgency” in response to its no-deal guidance paper for the banking, insurance and other financial sectors
23/08/2018
The Pensions and Lifetime Savings Association, Sackers and Barnett Waddingham have all revealed a cautious welcome to a stronger TPR, as both criticise areas of the Department for Work and Pensions’ defined benefit consultation
23/08/2018
The government has warned that UK pensioners living in Europe, or UK pensioners with EU-pension entitlements, may lose access to their pensions in the event of a no-deal Brexit
23/08/2018
Legal and General Assurance Society Limited (L&G) has completed a £300m longevity insurance deal with an unnamed pension scheme
22/08/18
Nationwide has appointed Best Trustees’ Catherine Redmond to its pension scheme as an independent professional trustee
22/08/18
Local authority pension funds returned 4.5 per cent over the year to the end of March 2018, according to the Pirc Local Authority Universe
22/08/2018
The Association of Consulting Actuaries has revealed that it is critical of certain sections of a consultation proposing stronger powers for The Pensions Regulator
21/08/18
Aviva has created a new skill for Amazon’s Alexa, allowing its customers to ask the virtual assistant for the current value of their pension savings
21/08/18
Pension fund trustees are not required to be experts on climate change or other environmental, social and governance factors, despite new ESG regulations proposed to come into force, the UK Sustainable Investment and Finance Association CEO UK, Simon Howard, has said
21/08/18
The amount of tax collected from individuals breaching the lifetime allowance (LTA) has rocketed by £100m since it was introduced in 2006, with the latest figures showing that £100m in tax was collected from individuals exceeding the allowance during 2016/17, compared with less than £10m in 2006/7 when the LTA was introduced
20/08/18
With news that people check their reward card balances more than their pension savings, Natalie Tuck looks at what the pensions industry can do to increase engagement
20/08/18
Sixty-two per cent of savers would prefer their savings, including their pensions, invested in assets that take climate change impacts into account, according to new research by ClientEarth
20/08/18
The latest news in brief and mandates from the past seven days
17/08/18
Just Group has acquired a 75 per cent shareholding in the holding company of Corinthian Pension Consulting in a bid to run bulk member option exercises
17/08/18
The Pensions Ombudsman has ordered Northumbria Police to reinstate a pension liberation victim’s pension, as it ruled that the authority did not take the necessary steps to prevent the transfer
17/08/18
The Pensions Regulator has stepped up the use of its enforcement powers for frontline regulation, with 10 per cent of the total number of times it has used its powers since April 2014 being in the last quarter
17/08/18
The British Medical Association has urged the Treasury to review pensions tax relief rules, as the current rules risk “deepening the recruitment crisis in general practice”
16/08/18
An accountant has admitted to providing false information to The Pensions Regulator, telling them that staff at a London cafe were enrolled into a pension scheme
16/08/18
The CEO of Royal London, Phil Loney, has urged the government to save the pensions dashboard and “put the consumers first”
16/08/18
Over half of asset managers believe they will not be able to provide full transaction costs for defined contribution trustees in time for the March 2019 year-end statements, according to research by LCP
16/08/18
The Consumer Price Index (CPI) rate of inflation has risen to 2.5 per cent in July, up from 2.4 per cent in June, driven by volatile prices for computer games and rising transport costs
15/08/18
The Liberal Democrat’s spokesperson for work and pensions, Stephen Lloyd, has blasted the government over its failure to implement a cold calling ban, especially in light of new figures on pension scams
15/08/18
Nest has appointed four new members to its board and reappointed two more, it has confirmed
15/08/18
Over a third of defined benefit schemes are aiming to land an insurer buyout deal to secure funding, it has been revealed
15/08/18
A report by the Financial Reporting Council (FRC) has slammed PwC over its “incomplete, inaccurate and misleading” audit of now collapsed retailer BHS
15/08/18
Pensions Policy Institute director Chris Curry says it is welcome news that the government will be reviewing pensions tax relief for individuals
14/08/18
The PPF 7800 deficit decreased by £22.8bn over July, dropping from £85.6bn at the end of June, to £62.8bn at the end of July
14/08/18
The Department for Work and Pensions has named Ann Harris OBE and Mike Dailly as non-executive directors of its Single Financial Guidance Body (SFGB)
14/08/18
The Pensions Regulator and the Financial Conduct Authority have joined forces to launch a campaign urging people to be aware of scammers targeting their pension savings, as it was revealed an average £91,000 was lost per victim in 2017
14/08/18
Pension schemes are being warned they are at risk of legal action being taken against them if they fail to develop their approach to climate risk in line with improving data and market practices
13/08/18
Defined benefit transfer values remained stable over July, standing at £233,000, according to XPS Pensions Group
13/08/18
Too many doctors could be mistakenly leaving the NHS Pension Scheme over potential tax charges, meaning they miss out on valuable pension benefits, Chase de Vere Medical has said
13/08/18
Just 7 per cent of people working beyond the state pension age are doing so to boost their pension pot, the Office of National Statistics (ONS) has revealed
13/08/18
The Pensions Regulator’s (TPR) enforcement actions have more than doubled in the past year from 50,068 to 102,497, according to new research
13/08/18
Wealth tied up in people’s houses is no automatic ‘safety valve’ for people who have inadequate pension savings, according to new research by Royal London
13/08/18
The BHS2 Pension Scheme has completed an £800m buyout with Pension Insurance Corporation, securing its 9,000 members’ pension benefits in full
13/08/18
Once I retired from full time work I have never been so busy’. This is often said by retired people, myself included, and though I suspect it is somewhat of an exaggeration, it does reflect the fact that we find ourselves in demand to take up new opportunities
10/08/18
Standard Life’s default fund returned less than half than that of the top performing provider, Zurich, over the last three years, despite having active management elements in the fund, it has been revealed
10/08/18
House of Fraser's pension schemes are expected to enter the Pension Protection Fund assessment period after the firm was purchased by Sports Direct owner, Mike Ashley, for £90m
10/08/18
The latest mandates and news in brief from the past week
10/08/18
Santander’s defined benefit scheme surplus has jumped by £594m to £799m due to a higher discount rate, its half year results have shown
10/08/18
The aggregate pension deficit of the top 350 performing firms in the UK has fallen by £27bn to £35bn since the beginning of 2017, according to new data
09/08/18
The total value of bulk annuity transactions hit a new record in the first half of 2018 with £7.8bn transferred, according to new data from LCP
09/08/18
Legal & General (L&G) has completed £735m of pension risk transfer deals in the first half of 2018 and expects to close on a further £7bn of transactions in H2 2018
09/08/18
A petition looking to save the pension dashboard from extinction has now gained over 125,000 signatures since it started
08/08/18
More than 4,500 support staff at two major universities are in line to be adversely affected by changes to their pension schemes, according to Unison
08/08/18
The expected funding surplus of the Pension Protection Fund (PPF) could mean hundreds of thousands of members receive payouts, its chief executive has said
08/08/18
Prudential Retirement and Aviva Life and Pensions UK have agreed on a £1bn longevity reinsurance deal, as the surge in the de-risking market continues
08/08/18
Just 4 per cent of women have savings of over £300,000 in their pension funds, compared to 15 per cent of men, according to Aegon
08/08/18
Work and Pensions Committee chair Frank Field has queried the Financial Reporting Council on the release date of its report on PwC’s audit of collapsed retailer BHS
08/08/18
Annuity rates are on track to increase for the second year in a row, following positive results in the first half of 2018
07/08/18
Members with average transfer values of £230,000 could lose up to seven years of retirement income under freedom and choice, XPS Pensions Group has found
07/18/18
Planned increases to the state pension age need to be reviewed in light of the slowdown of longevity improvements in the UK, Royal London has argued
07/08/18
A full cost transparency framework can reduce the total cost of ownership of a pension fund by 37 per cent, data from the Dutch market has found
07/08/18
TPR head of master trust authorisation and supervision Kim Brown on the regulator's Code of Practice for Master Trust Authorisation
06/08/18
An accountant has been charged with deliberately providing false information to The Pensions Regulator (TPR), after allegedly claiming that the employer he was working for had put staff into a workplace pension scheme
06/08/18
A “landmark” ruling by The Pensions Ombudsman (TPO) against Northumbria Police Authority, who transferred the member out of the scheme without “adequate checks or enquiries”, could open the door for previous scam victims, it has been said
06/08/18
Sports Direct founder Mike Ashley has reportedly been put off going ahead with a planned rescue deal for House of Fraser, due to the department’s store pension schemes
06/08/18
The government has held talks with the trustees of the Mineworkers' Pension Scheme (MPS) to explore how it can revise the scheme benefits “for all parties”, it has revealed
06/08/18
William Hill has revealed it has completed a buy-in with Just Group for £180m
03/08/18
The number of master trusts which have either left or are leaving the market in light of incoming regulations now stands at 21, according to new figures from The Pensions Regulator
03/08/18
The Work and Pensions Committee has launched an inquiry into the transparency around pension charges, investment strategy and performance to consumers
03/08/18
Belfast City Council has been ordered to pay increased retirement benefits to the widow of a former employee, after The Pensions Ombudsman (TPO) ruled that it should have brought forward her late husband’s retirement date to before he passed away
03/08/18
The latest mandates and news in brief
03/08/18
The Pensions Regulator has appointed three new members to its determinations panel, ahead of the start of the master trust authorisation regime
03/08/18
The deficit of the FTSE 350 grew by £3bn over July as the overall deficit grew from £29bn to £32bn, Mercer has said
02/08/18
Aviva’s net pension scheme surplus hit £2.9bn over H1 18, an increase of £442m over the same period last year due to a decrease in the schemes’ liabilities and an increase in contributions, its half year results have shown
02/08/18
The Bank of England has hiked its interest rates from 0.5 per cent to 0.75 per cent, only the second rise since 2009
02/08/18
Public service provider Serco has seen its net defined benefit surplus decrease by £6m over the past six months
02/08/18
The Pensions Age Awards 2019 is now open to entries for all UK pension schemes or provider firms serving in the UK
02/08/18
Trustee boards should proactively carry out an annual review of their investment consultants rather than waiting for the tender process to end, it has been suggested
01/08/18
Over a third (37 per cent) of eligible employees are unaware that they have been enrolled into a pension by their employer, according to the latest data from the Office for National Statistics
01/08/18
The Pensions Regulator has received over 100 reports of employees encouraging employees to opt out of their workplace pension since April 2015, it has said
01/08/18
The Universities Superannuation Scheme (USS) group CEO Bill Galvin has defended the scheme from “polarised agendas”, after accusations of either taking too much risk or being “recklessly prudent”
01/08/18
Several pension providers have criticised an index that is said to reveal the best and worst providers in the industry in areas such as pension transfers, annual charges and exit fees cent
01/08/18
The latest defined benefit funding indexes have shown an increase the funding levels of private sector pension schemes, with schemes of FTSE 100 companies showing a surplus
01/08/18
Energy provider Centrica has slashed its net pension liability from £886m at the end of 2017 to £29m at the end of H1 2018, its half year results have revealed
31/07/18
The number of transfers to Qualifying Recognised Overseas Pension Schemes (QROPS) fell from 9700 in 2016 to 2017 to 4,700 in 2017 to 2018, according to latest figures published by HMRC
31/07/18
Trustees should consider involving a lawyer when devising their pension scheme’s communication strategy, it has been said
31/07/18
The Pensions Regulator has confirmed that it has written 12 letters to trustees of defined benefit pension schemes regarding transfer activity, since 1 January 2018
31/07/18
The second quarter of 2018 saw £2.27bn withdrawn through pension freedoms by 264,000 individuals, the most since the introduction of freedoms in 2015, HMRC has revealed
31/07/18
Yorkshire brewer, Samuel Smith’s Brewery, along with its chairman Humphrey Smith has been fined £28,000 for failing to hand over information to The Pensions Regulator
30/07/18
Trustees that avoid putting in place plans around GDPR breaches could “put member data at risk”, it has been said
30/07/18
PLSA policy lead, engagement, EU and regulation, James Walsh discusses why the self-employed's pension saving should be at the top of the Prime Minister's 'to do' list
30/07/18
Average pension scheme allocation to bonds rose by 2 per cent to 64 per cent over the year, with 10 schemes increasing their allocation by more than 10 per cent, JLT Employee Benefits has found
30/07/18
The ‘new norm’ of those over 55 cashing in their small pension pots could leave them at risk of not meeting a minimum income standard in retirement, it has been said
30/07/18
The Pensions Administration Standards Association has published new guidance for defined contribution schemes on administration governance
27/07/18
Publishing giant Pearson has revealed it has increased its UK pension scheme surplus by £125m over the six months to the end of June 2018
27/07/18
Over half, 53 per cent, of pension schemes leave it to the point of retirement, or within a year, before first contacting members about their retirement options, new research has found
27/07/18
The latest mandates and news in brief from the past seven days
27/07/18
The total net liability of JLT’s pension schemes totalled over £179m as at the end of June 2018, its half-year results have shown
26/07/18
Smaller schemes are paying around 150 per cent more per member in administration fees than larger schemes, a new survey has found
26/07/18
The Pensions Regulator has launched a consultation on the supervision and enforcement of master trusts once they have received authorisation
26/07/18
There is “room for improvement” in the audit of defined benefit pension schemes, especially as multiple pension arrangements and de-risking measures have added complexity to the process, the Financial Reporting Council has said
26/07/18
The Treasury Committee is proposing the abolition of the Lifetime ISA (LISA) and has called for the scrapping of the LTA limit around pension tax relief
26/07/18
Summer, a time to go on holiday, relax, and for many, escape Britain’s soaring heat
25/07/18
ITV’s defined benefit schemes have recorded an IAS 19 net pension surplus of £86m
25/07/18
The Universities Superannuation Scheme (USS) is set to impose cost-sharing increases from the 1 April 2019 in order to meet the pension schemes’ £900m funding deficit
25/07/18
Six MPs have backed a campaign calling for all retirees, no matter when they retired, to be able to benefit from the pension freedoms
25/07/18
Young adults are not mature enough to engage with pension saving, a new report published by the Pensions Policy Institute (PPI) has claimed
25/07/18
British citizens who retire in the European Union could find it “illegal” to be paid their private pension in the case of a no-deal Brexit, MPs have heard
24/07/18
In her final soapbox piece for Pensions Age, Talya Misiri asks why we don't take more care in our approach to saving for retirement
24/07/18
The Environment Agency (EA) Pension Fund returned 4.4 per cent (£162m) in the 12 months to the year-end 31 March 2018
24/07/18
The UK is ahead of its European peers when it comes to adopting a flexible retirement approach, where a person may work part-time before fully retiring, a survey by Aegon has found
24/07/18
Pensions provider Just Group has seen its retirement sales grow by 62 per cent in the first half of 2018, as the group saw 56 per cent business growth on the same period last year
24/07/18
The government is wary of implementing the “complex” and “challenging” pensions dashboard, but refused to confirm whether or not it was set to “kill off” the project
24/07/18
Over 80 per cent of pension decision makers have highlighted cost-efficiency as their greatest concern, new research has found
23/07/18
Society of Pension Professionals PR Committee member Gareth Davies discusses the challenge of retirement, and how the pensions industry can help people make the right choices
23/07/18
It is in the “best interests of scheme members” to have a 50:50 ratio of professional trustees to member-nominated trustees (MNTs) on pension trustee boards, Labour Shadow Pensions Minister Jack Dromey has said
23/07/18
The government delays in implementing the cold-calling ban and the pensions dashboard are consequences of the Brexit process, Aegon has said
23/07/18
The Civil Aviation Authority (CAA) has completed a £60m buy-in with Pension Insurance Corporation, its second pension buy-in with the company
23/07/18
Around one in 10 people who are planning to retire this year expect to withdraw their entire pension savings in one lump sum, according to Prudential
20/07/18
Employers across the UK that are suspected of not meeting their automatic enrolment duties could be faced with short notice inspections from The Pensions Regulator (TPR)
20/07/18
The government has launched a second consultation on cold calling, a month after regulations around a ban were set to be implemented
20/07/18
The Church of England Pensions Board has said that its total pension assets returned 9.4 per cent for its scheme members in 2017
20/07/18
The latest mandates and news in brief from the past week
20/07/18
Seventy per cent of master trusts are “very confident” with the quality of data in their system, a survey by ITM has revealed
19/07/18
The Insolvency Service (IS) has told the Work and Pensions Select Committee that it would consider re-opening its investigation into the former directors of BHS if the Financial Reporting Council (FRC) provides any new evidence from its investigation of the 2014 pre-sale audit of BHS by PWC
19/07/18
Ros Altmann has been appointed as chair of fintech specialist pensionsync
19/07/18
The Association of British Insurers (ABI) has said there is “no credible reason” for the dashboard to be killed off, a letter to the Work and Pension Committee has revealed
19/07/17
Unilever’s pension liability net of assets halved to €0.3bn over the first six months of 2018, having recorded a €0.6bn deficit at the end of December 2017, its Q2 results have shown
19/07/18
Almost a quarter of millennials believe they will never be able to afford to give up working, with a fifth believing that the state pension will no longer be on offer when they reach retirement age, it has been found
19/07/18
The Competition and Markets Authority (CMA) said the break-up of some investment consultant (IC) and fiduciary management (FM) providers would have “adverse consequences” for both trustees and schemes members
18/07/18
The Pensions Regulator is looking to implement clearer “parameters and regulation” over company dividend payments into its funding code
18/07/18
Pensions Minister Guy Opperman has refused to address speculation over the future of the pensions dashboard, after reports that the Secretary of State for Work and Pensions Esther McVey was looking to “kill off” the platform
18/07/18
Several industry voices have said the Competition and Markets Authority (CMA) was right in its decision not to propose far-reaching reforms to the investment consultancy market
18/07/18
Pension Insurance Corporation (PIC) has completed a £37m investment in the University of Exeter with student accommodation provider University Partnerships Programme (UPP)
18/07/18
Recent successive governments have "overblown" the cost of public sector pension schemes, Prospect has claimed
18/07/18
People may need to undergo three major mind shifts in order to cope well with longer lives, according to the Pensions Policy Institute (PPI)
18/07/18
Pension funds will be required to run a competitive tender when choosing their first fiduciary manager to increase competition within the market, the Competition and Markets Authority has proposed
18/07/18
The trustees of The 600 Group's defined benefit scheme have reached a scheme liability buyout agreement with the Pension Insurance Corporation (PIC)
17/07/18
The number of people in retirement has dropped by 265,000 over the five-year period from March to May 2013 to March to May 2018, according to the Office for National Statistics' (ONS) July UK Labour Market report
17/07/18
The Pensions Regulator (TPR) has been made aware of fraudsters who are posing as the watchdog in a new pensions scam
17/07/18
The pension industry has hit back at reports that the Secretary of State for Work and Pensions, Ester McVey, is planning to scrap the long-awaited pensions dashboard
17/07/18
Pension transfer values decreased slightly over June to £233,000 but remained stable, according to XPS Pensions Group
16/07/18
The Department for Work and Pensions has appointed the first chief executive of the new single financial guidance body (SFGB)
16/07/18
The government should set a “swift timetable” to allow companies to create collective defined contribution (CDC) schemes, as the opportunity presents a “new Beveridge” for pensions, the Work and Pensions Committee has said
16/07/18
Trustees must keep a closer eye on the security of their members’ assets as unprecedented levels of change transform the defined contribution provider marketplace
16/07/18
People aged 40-64 are underestimating the full state pension by £1,461 a year on average, a study conducted by Just Group has concluded
16/07/18
Nest is set to start investing in commodities for its 6.9 million members in its first segregated mandate
16/07/18
The pension industry’s fear of innovation is leaving many DC members “woefully unprepared” for retirement, according to Hymans Robertson
13/07/18
The latest mandates and news in brief from the past week
13/07/18
A consultation on the pensions cold calling ban is to be published “imminently”, however parliamentary approval isn’t likely until after autumn, the government has said
13/07/18
The Pensions Regulator (TPR) has claimed that it has become a “more visible and proactive regulator” that is working in a “clearer, quicker and tougher way” in its annual report and accounts, which show that its spending rose by £8.7m in the last financial year
13/07/18
The Pensions Protection Fund (PPF) has increased its funding level by 1.2 per cent over the year to 122.8 per cent, despite taking on its highest total value of deficits ever recorded, its annual report has shown
13/07/18
Nest’s government loan increased to £623m over the 2017/2018 financial year, it has revealed
13/07/18
The Pensions Ombudsman (TPO) has seen a 26 per cent increase in the number of cases it accepted for investigation in the past year, it has revealed
13/07/18
The most popular defined contribution investment funds chosen by members who actively invest have beaten default strategy returns by 4.75 per cent over the last five years, it has been found
12/07/18
The hopes and dreams of the nation may have been shattered last night in the World Cup semi-final, but what about a footballer's chance in retirement?
12/07/18
The government should halt its plans to switch off support for schemes trying to reconcile their Guaranteed Minimum Pension (GMP) records with those held by the State in October, Willis Towers Watson has argued
12/07/18
A quarter of savers reaching retirement in the next ten to fifteen years, who have moderate to high levels of DC savings and low or no DB entitlements, will face decisions that could see their private pension income vary by more than 70 per cent
12/07/18
Lesley Carline has been elected as president of the Pensions Management Institute, with effect from 11 July 2018
12/07/18
Retired homeowners released £1.71bn of property wealth in the first six months of the year, as the equity release market continued its record-breaking expansion, according to the latest data from Key Retirement’s H1 2018 Equity Release Market Monitor
11/07/18
Women are being held back from pension savings by a lack of confidence, income, time, and access to the right information, a report has shown
11/07/18
The Pensions Regulator has fined Rentokil Initial’s pension fund £25,000 earlier this year for failing to complete two valuations for its Initial Hospital Service Limited No.1 defined benefit scheme, it has emerged
11/07/19
Pension freedoms have created ‘demob fever’ among over-55s, as many significantly change their retirement plans, according to Retirement Advantage
11/07/19
Pension funds could earn around 8 per cent a year undertaking a bank capital relief strategy, it has been said
10/07/18
ABI senior policy adviser Lucy Forgie talks about the evolution of platforms and why they are vital to the retirement market
10/07/18
The Institution of Engineering and Technology’s (IET) pension scheme has completed a £50m pensioner buy-in with Pension Insurance Corporation (PIC), covering all 300 of the scheme’s uninsured pensioner members
10/07/18
The aggregate deficit of the 5,588 schemes in the PPF 7800 Index decreased by £8.4bn in June.

The deficit figure was £85.6bn at the end of last month, after having stood at £94.0bn at the end of May. The PPF has also calculated that the funding level for the schemes in the index increased from 94.5 per cent at the end of May to 94.9 per cent
10/07/18
Flexibility is the number one priority for retirees when it comes to managing their savings, Aegon has found
10/07/18
PLSA policy lead: engagement, EU and regulation James Walsh discusses how technology can help engage and simplify the pensions landscape
09/07/18
The number of taxpayers over the age of 65 has nearly doubled from 3.32 million in 1995-96 to 6.49 million in 2015-16, Royal London has found.
09/07/19
The total value of defined benefit pension scheme liabilities hedged by liability-driven investment (LDI) strategies increased to almost £1trn at the end of 2017, meaning that nearly half of the UK’s DB pension scheme are now using LDI to reduce their exposure to hedge interest rate and inflation risk
09/07/18
The Border to Coast Pensions Partnership has selected asset manager Robeco to perform its voting and engagement services
09/07/18
An estimated 43 per cent of people think they will still be renting their home when they reach 70 years of age, Aegon has found
09/07/18
Lloyds Banking Group has begun its landmark defence in relation to the equalisation of guaranteed minimum pensions (GMPs).
06/07/18
Retirement adviser LEBC has again called on the government to introduce a 30-day cooling off period for individuals who seek access to more than the tax-free part of their pensions without the benefit of regulated advice
06/07/18
The number of employees wanting to stay in work past retirement age has more than doubled in three years, from 17 per cent to 36 per cent, according to Canada Life
06/07/18
News in brief
06/07/18
A Financial Conduct Authority (FCA) working group has made five recommendations regarding the consistent and standardised disclosure of costs and charges to investors
05/07/18
British Airways (BA) has won an appeal against the High Court which ruled that trustees were allowed to increase retirees pensions by 0.2 per cent
05/07/18
HM Revenue and Customs has refused to re-think its stance on the tax paid on pension freedoms withdrawals, meaning people receive one twelfth of their tax allowances
05/07/18
The Professional Trustee Standards Working Group (PTSWG) has said that it has received “overwhelming support” for its proposed introduction of new standards for professional pension scheme trustees
05/07/18
The pensions industry has expressed unanimous support for the new Pensions and Lifetime Savings Association (PLSA) report, hailing it as a “milestone” moment for the debate on pensions adequacy
05/07/18
The Pensions and Lifetime Savings Association (PLSA) has said that saving targets must be introduced in order to get more people saving into their pensions.

In a report called Hitting the Target: A Vision for Retirement Income Adequacy published today, 5 June, the PLSA called for the implementation of a new regulatory framework where schemes and providers signpost savers to appropriate product options at retirementpeople saving more into their pensions
05/07/18
The Church of England Pension Board has called for investors to work with them in order to develop a new low carbon index
04/07/18
Pensions Insurance Company (PIC) has completed a £1.3bn buy-in with Siemens, covering around 6,000 pensioners
04/07/18
The Pensions Regulator has raised the minimum amount master trust schemes must hold to £150,000, after many suggested the initial £75,000 funding requirement was too low.

In its response to its consultation on the authorisation and supervision of master trusts published yesterday, 3 July 2018, TPR said that it wanted a more “prudential estimate of costs”
04/07/18
Total pension scheme buy-in and buy-out volumes are set to reach an all-time record of around £18bn in 2018, after a busy first half of the year for the market, Hymans Robertson has predicted
04/07/18
The Pension Insurance Corporation (PIC) has invested £100m into Accord Housing Association (ACA), it has revealed
04/07/18
Savers should have a right to have their pension contributions paid into an existing scheme when they join a new employer to help the self-employed, Hargreaves Lansdown has said
04/07/18
Women view paying off debt as a higher priority than saving for retirement, despite only a third of them feeling that they will have enough resources to live comfortably in retirement
04/07/18
The Department for Work and Pensions has opened a consultation in the hope of clarifying regulations around how the Pension Protection Fund (PPF) handles relevant fixed pension payments when calculating pension credits
03/07/18
The Pensions Regulator is set to consult further on the supervision and enforcement policy of the new master trust regime, after some schemes called for more detail.

In its response to its consultation on the authorisation and supervision of master trusts published today, 3 July 2018, TPR said that a majority of respondents were clear on its expectations, but that some needed clarity on supervisory returns in particular
03/07/18
Aegon has said that it plans to further develop its workplace savings proposition after completing its purchase of BlackRock’s UK defined contribution platform and administration business
03/07/18
Pension providers are holding “hundreds of thousands” of records with incorrect data, vital to ensure people can be validated to use the dashboard, Experian has found
03/07/18
The FTSE 350’s combined defined benefit deficit has been cut by more than 50 per cent in the first half of 2018, according to Mercer
03/07/18
BT Pension Scheme (BTPS) has completed the sale of its majority interest in Hermes Investment Management for £246m to US investment giant Federated Investors
02/07/18
The chairs of trustees for the three Premier Food pension schemes have accused Oasis Management Company of “destabilising” the delivery of the pension scheme promise to its members, following the investors attempts to oust CEO Gavin Darby

In a letter to Oasis, which was also sent to The Pensions Regulator, RHM Pension Scheme chair Allan Course, Premier Foods Pension Scheme chair Michael Chatterton and Premier Grocery Products Pension Scheme chair David Curtis all stated their concerns over prospect of changing the company strategy towards “short-termism”
02/07/18
PA Consulting has completed a £850 million buyout of its PA Pension Scheme with Pension Insurance Corporation (PIC) – the first buyout deal to secure the pricing of an enhanced transfer value exercise within the buyout pricing
02/07/2018
Women could close the gender pension gap by contributing an additional one per cent of their salary towards their pension early on in their careers, Fidelity International has calculated
02/07/18
Employers are uniquely positioned to help their employees improve their financial wellness and they should be doing more to help them secure an appropriate income in retirement, JLT Employee Benefits has said
02/07/18
Discount rate is the “most significant” financial estimate when assessing FTSE 350 defined benefit pension scheme obligations, research by Hymans Robertson has found
02/07/18
More than one in four people think that they will still be working in some capacity once they reach 70, according to Aegon
02/07/18
FTSE 100 defined benefit pension schemes recorded a deficit of just £1bn as at 30 June 2018, as they continue their march towards surplus, JLT Employee Benefits has found
02/07/18
Women are saving more than men when adjusted for earnings a major study between Nest and Vanguard has shown
29/06/18
The High Court has refused an injunction request by former BHS owner Philip Green to block the Financial Reporting Council from publishing the full details of its report into the failed department store chain
29/06/18
Pressure is mounting on the government to introduce a ban on pensions cold-calling, as it will no longer meet the deadline
29/06/18
The sidecar model of saving could be a potential solution for the self-employed, a Nest expert has suggested.

Speaking at the Nest Insight conference yesterday, 28 June 2018, Nest Insight executive director Will Sandbrook said that it is very interested in the model and that it could play a role in the space, but that it wouldn’t be a one size fits all solution
29/06/18
Fiduciary managers are increasingly allocating assets away from equities and into bonds and alternatives, with a “colossal” spread in allocations, data from IC Select has revealed
29/06/18
The latest news in brief and mandates from the past seven days
29/06/18
The government might have to support middle earners and Generation X workers to save more into their pensions, as the forecast rise in auto-enrolled pensions contributions to 8 per cent could be inadequate, the Department for Work and Pensions has suggested
27/06/18
More than half of all housing associations are thought to not have policies in place for dealing with an expected large cost increase arising from the 2017 valuation of Social Housing Pension Scheme (SHPS) scheme
28/06/18
The pensions sector has responded positively to the Financial Conduct Authority's Retirement Outcomes Review, which has highlighted a number of areas in communication, product transparency and decumulation choices that need addressing to maximise DC scheme benefits
28/06/18
The government should consider ‘decoupling’ the tax-free lump sum a person can withdraw from their pension from other decisions relating to their pension
28/06/18
Wake-up packs at the age of 50, investment pathways for those in drawdown, and providing annual statements to those that have accessed their pension pots are the three main proposals launched in a consultation from the Financial Conduct Authority
28/06/18
A Supreme Court judgment that ruled in favour of heterosexual couples being allowed to enter into a civil partnership will have a “significant impact” on pension schemes, it has been said
27/06/18
Liberal Democrat MP Stephen Lloyd has written to the government urging it to implement the cold calling ban as soon as possible
27/06/18
The government does not need to increase minimum pension contribution levels as getting people voluntarily saving more for retirement is already possible and will only get easier as pension pots grow in size, it has been claimed
27/06/18
The government has been warned against attempting to plug funding holes in government spending by altering the rules surrounding pension tax relief
27/06/18
The government should publish safe withdrawal rates for retirees using flexi-access drawdown and make it mandatory for people to either opt in or out of guidance before accessing their defined contribution pension savings, Zurich has said
27/06/18
A transgender women who was denied her pension by the UK courts has had the decision ruled as unlawful by the European Court of Justice
26/06/18
Royal London has launched a range of sustainable funds for its pension customers, available to those saving through their workplace and individual pension plans
26/06/18
Fintech provides “risks and opportunities” for the UK, but the government is “completely committed” to bringing the sector to fruition, Economic Secretary to the Treasury and City Minister John Glen has said
26/06/18
A new report compiled by the Association of Independent Professionals and the Self-Employed (IPSE) has urged the government to dismiss the idea of auto-enrolling self-employed workers
26/06/18
The government could impose civil fines of up to £1m, as well as criminal sanctions on bosses and employers who are deemed to be failing their pension scheme, it has been proposed
26/06/18
The Investment Association (IA) wants to forge a new “partnership” between pension schemes and the investment management industry to ensure that defined contribution (DC), savers can have access to a full range of investment opportunities
26/06/18
A large minority of savers believe that their pension fund will fall in value as a result of Brexit despite a 30 per cent rise in the worth of an average pot since the UK voted to leave the EU in 2016
26/06/18
Just over one in four trustees would feel comfortable judging whether to hand over their schemes to ‘super funds’, despite their sponsors growing interest, according to Willis Towers Watson (WTW)
26/06/18
The Pensions Regulator is considering enforcing its anti-avoidance powers against the Carillion directors, forcing them to pay into the firm’s collapsed pension schemes, it has emerged
25/06/18
Standard Life Aberdeen shareholders have voted in favour of selling the group’s insurance business to Phoenix Group
25/06/18
TPR director of automatic enrolment Darren Ryder discusses the importance of whistleblowers when investigating employers that aren't complying
25/06/18
There is a “critical” lack of trust in the financial sector across all generations, as people fail to engage with their pensions, research by The Wisdom Council (TWC) has found
25/06/18
The government has said it is “not convinced of the merits” of default decumulation pathways as their implementation would be “inconsistent” with pension freedoms
25/06/18
A new code to combat pension scams has been published, providing a good practice guide for trustees, providers and administrators
22/06/18
The Pensions Regulator has fined Smart Pension for failing to report almost £900,000 of unpaid employer contributions
22/06/18
Senior reporter Talya Misiri catches up with the Association of British Insurers' director of policy Yvonne Braun
22/06/18
The Pensions Regulator has defended its key performance indicator (KPI) targets laid out in its corporate plan, after the Work and Pensions Committee said they were disappointed in their “modest scope”
21/06/18
Bulk annuity transactions are the “undisputed gold standard” to guarantee defined benefit scheme members’ pensions, ABI director of policy, long-term savings and protection Yvonne Braun has said
21/06/18
Aliaxis UK Defined Benefit Pension Scheme has agreed an £85m buy-in transaction with Just Group, it has been revealed
21/06/18
The value of pension transfers hit £10.6bn in the first quarter of 2018, setting a new record, the latest data from the Office for National Statistics has found
21/06/2018
The banking sector has emerged with the best defined benefit pension deficit in the FTSE 100, research from Barnett Waddingham has found
21/06/18
In an attempt to simplify the UK savings landscape, the government is being called on to exempt pensions and ISAs from inheritance tax (IHT)
21/06/18
Over half, 54 per cent, of small and medium enterprise employers see it as their duty to ensure staff can manage financially in their retirement
20/06/18
A trustee of the Optimum Retirement Benefits Plan has been suspended by The Pensions Regulator after police launched an investigation into fraudulent pension activity
20/06/18
Almost half, 48 per cent, of final salary pension holders have voiced their interest in releasing equity in their home to boost their retirement savings, while 27 per cent of personal pension savers would do the same, Hoxton Capital Management has found
20/06/18
The Pensions Regulator will increase intervention between the triennial valuations of defined benefit schemes on a “risk based” approach, TPR CEO Lesley Titcomb has said
20/06/18
Two million defined contribution savers that received and read their annual statement said they did not understand it, according to the Financial Conduct Authority, with many savers displaying a vulnerability to financial harm
20/06/18
Almost three quarters, 72 per cent, of UK employees believe that they will work past the state pension age, Canada Life has found
20/06/18
Government life expectancy statistics that show a “significant slowdown” in mortality improvement could trigger calls for a “fundamental rethink” of the state pension age, it has been said
19/06/18
The good news for England fans is that our pension system is considerably better than our football team, or so analysis by Scottish Widows would have you believe
19/06/19
Karen Johnston has been reappointed as the Deputy Pensions Ombudsman, it has been announced
19/06/18
Reporter Theo Andrew examines the recent coverage of The Pensions Regulator and CEO Lesley Titcomb's departure
19/06/18
J.C. Flowers has sold its 21.4 per cent stake in the Pension Insurance Corporation Group to the Abu Dhabi Investment Authority (ADIA), subject to customary regulatory approvals
19/06/18
The government has been urged to justify its proposed changes to the state pension age announced in July last year, after union members secured a petition of over 12,000 signatures
19/06/18
In the current low return environment, high natural yield investments are not enough to support income in retirement, Royal London has warned
18/06/18
Matt Wilmington has left Legal & General to join Scottish Widows in a move that will see him take on the role of head of origination and structuring for bulk annuities at the firm
18/06/18
A total of seven out of 10 UK workers with a private or workplace pension favour a single pensions dashboard to help them attain a better understanding of their savings, The People’s Pension has found
18/06/18
Pension scheme trustees must produce a statement of investment principles (SIP) on how they consider the environment in their investment process by 1 October 2019, the Department for Work and Pensions has proposed
18/06/18
Fintech is going to play a “hugely positive role” when it comes to increasing people’s engagement with their retirement savings, the Pensions and Lifetime Savings Association policy lead: engagement, EU and regulation James Walsh has said
18/06/18
Insurer Equitable Life is to shut down next year, closing its With Profits Fund, it has announced
15/06/18
News in brief from the past seven days...
15/06/18
HM Treasury has rejected calls from the Work and Pensions Committee chair Frank Field to extend the pensions cold-calling ban to in-person approaches
15/06/18
UK pension funds are preparing to “significantly increase” their allocation into alternative income assets, Aviva Investors has found
14/06/18
Pensions Minister Guy Opperman has confirmed that the terminally ill are not permitted to access their state pension earlier than the set age
14/06/18
Almost one fifth of pension savers would opt for a “green pension”, with those under 30 twice as likely to choose the eco-friendly option than those over 50, PensionBee research has found
14/06/18
Heathrow has completed a £325m buy-in of its BAA Pension Scheme with Legal & General, it has announced
14/06/18
Just one in five of people who are approaching retirement age are saving enough to maintain their lifestyle, according to research by Aegon
14/06/18
The Consumer Prices Index rate of inflation remained at 2.4 per cent in May, unchanged from April, the Office for National Statistics has revealed
13/06/18
A ruling made against a Pimlico Plumbers worker’s status has highlighted that employers may be incorrectly classifying staff to avoid their workplace benefit duties
13/06/18
The Financial Reporting Council has sanctioned PwC, along with one of its former audit partners, following an investigation into BHS’ 2014 audits
13/06/18
Men are over twice as likely to have their pensions reviewed by a financial advice firm, according to research by Selectapension
13/05/18
A “marked increase” in the number of company voluntary arrangements (CVA) being used by struggling businesses, has led to the Pension Protection Fund publishing updated guidance
13/06/18
The pensions dashboard has been successfully scale tested to accommodate 15 million active consumers by the project’s fintech partner Origo
12/06/18
The government has increased its support for trustees around social impact investing and aspires to schemes targeting a “minimum percentage allocation” towards green investments
12/06/18
A total of 66 per cent of pension fund managers regard passive investments as an established, mature part of their portfolio, DWS has reported
12/06/18
Pensioner households are contributing almost £9bn a year in income tax generated from work, Aegon has found
12/06/18
The aggregate deficit of the 5,588 schemes in the PPF 7800 Index rose by over £10bn to the end of May 2018
12/06/18
Defined benefit transfer values continued to fluctuate and rose to £234,000 at the end of May 2018, Xafinity Punter Southall has reported
12/06/18
Pensioners are more likely to pass on their pension pots as inheritance than spend their accumulated wealth, the Institute of Fiscal Studies (IFS) has found
11/06/18
Two thirds of the UK’s largest auto-enrolment pension providers do not have policies in place to prevent investments in companies that profit from chemical and biological weapons.

According to a new report by Share Action titled The Engagement Deficit, Aviva, The People’s Pension, Royal London, Scottish Widows, Aegon and Standard Life do not screen out firms that produce toxic components of harmful weapons in their default fund investments
11/06/18
The current split between employer and employee auto-enrolled pension contributions is “weak” some feel, and the pensions community must come together to get us to “the next level of saving”, a Nest pension has suggested.

Speaking at the Pensions Europe conference, The Future of Work and Pensions, yesterday, 7 June 2018, Nest director of strategy Zoe Alexander said that many felt that auto-enrolment pension contributions should be split equally, but added that the current political climate might make it difficult
08/06/18
The covenant strength of FTSE 350 companies’ pension schemes improved to the same level at the end of 2017 as 2007, PwC has found
08/06/18
A total of 77 per cent of advisers have said that they are spending more time and resources on the provision of retirement advice since the launch of the pension freedoms
08/06/18
Senior employees at national recruitment firm, Workchain Ltd, have pleaded guilty to illegally opting temporary staff out of their workplace pension scheme
08/06/18
It has been revealed that the trustee of the House of Fraser defined benefit pension scheme is a “key decision maker” on the retailer’s proposed company voluntary arrangement (CVA)
07/06/18
The South Yorkshire Pensions Authority (SYPA) has undertaken a £2.6bn equity risk management strategy with Schroders to protect itself from a significant decline in equity markets
07/06/18
The Association of British Insurers has appointed the former CEO of AXA UK Amanda Blanc as its new CEO, the first woman to take on the role in its 100 year history
07/06/18
The collapsed construction firm Carillion asked the Cabinet Office to help “persuade” the Pension Protection Fund and The Pensions Regulator to accept its £2.6bn pension liabilities, according to a report by the National Audit Office
07/06/18
The majority of the pensions industry (71 per cent) are in favour of multiple pension dashboards, rather than a single dashboard, according to research by the Tax Incentivised Savings Association (TISA)
07/06/18
Newspaper publisher, Johnston Press, is considering a regulated apportionment arrangement (RAA) for its pension scheme, it has revealed
06/06/18
The Pension Protection Fund’s chief executive Oliver Morley has said he is against introducing a monthly levy payment option for all schemes
06/06/18
Introducing a ‘comply or explain’ regime to scheme recovery plans, with a recovery length of 10 years, would help bring down scheme recovery lengths, according to the Pension Protection Fund
06/06/18
Consumer education and understanding is one of the biggest challenges to the success of the pension freedoms, advisers have highlighted
06/06/18
The total amount saved in workplace pensions has increased £4.3bn to £90.3bn in 2017, new government data has revealed
06/06/18
Employees with multiple jobs that miss out on auto-enrolment because they earn less than the £10,000 qualifying threshold in each job are collectively missing out on £90m of employer contributions a year, new research has found
06/06/18
Time is running out to book your table at the European Pensions Awards 2018, tables are selling fast
05/06/18
The Pensions Ombudsman (TPO) has told the National Crime Agency (NCA) to reconsider an application from an employee to keep working whilst also taking a deferred pension
05/06/18
Chairman of the Dixons Retirement and Employee Security Scheme, Geoffrey Budd, is facing questions from the Work and Pensions Committee, after Dixons Carphone's projected pre-tax profit fell by £119m over the year
05/06/18
UK FTSE 350 pension gap fell by 30 per cent, £16bn, to £34bn in May, Mercer has reported
05/06/18
The proposed Royal Mail collective defined contribution scheme will deliver the “best possible pension arrangements” for members, it has been argued
05/06/18
AMNT co-chair David Weeks discusses the triangle of pension scheme governance and why The Pensions Regulator should consider working with associations to help effect change
05/06/18
The Pensions Regulator has welcomed the introduction of new powers as outlined in the defined benefit white paper “as quickly as possible”
04/06/18
The Environmental Audit Committee has called on the Financial Conduct Authority (FCA) to act on the Law Commission’s findings to clarify the duty of contract-based pension schemes in relation to environmental, social and governance (ESG) factors
04/06/18
The Pensions Age Autumn Conference 2018 is now open for registration, offering pension fund managers, trustees and all those working in the pensions space the opportunity to both learn and network alongside their peers
04/06/18
The Pensions Protection Fund (PPF) has praised The Pensions Regulator and supports measures to give it stronger powers
04/06/18
The FCA’s draft guidance on triage places ‘considerable limitations’ on its effectiveness, Aegon has highlighted
04/06/18
Royal Mail’s plan to introduce a collective defined contribution pension scheme is a “wholly unnecessary adventure”, Centre for Policy Studies research fellow Michael Johnson has argued
04/06/18
Employee benefits firm Mattioli Woods has suspended its pension transfer advice service amid a Financial Conduct Authority (FCA) review of its work in the area
04/06/18
News in brief from the past seven days...
01/06/18
The Pension Regulator’s master trust lead Ian Digby has joined Smart Pension as head of regulatory affairs, effective today, 1 June 2018
01/05/18
The Pensions Administration Standards Association (PASA) has launched its transition dispute resolution service to resolve issues that arise during administration transfers between providers
01/06/18
FTSE 100 defined benefit pension schemes are “close to showing an aggregate surplus” for the first time a decade, while DB schemes’ funding continues to improve, JLT Employee Benefits has noted
01/06/18
Former Financial Services Association chief executive Hector Sants has been named chair of the new single financial guidance and claims body (SFGB)
31/05/18
The High Court has wound up Fast Pensions Ltd, along with five related firms, following an investigation by the Insolvency Service
31/05/18
Employer covenant has remained the highest-rated defined benefit scheme risk among trustees, a PTL survey has found
31/05/18
The trustee of the Littlewoods Pensions Scheme has completed a £880m buy-in with Scottish Widows, it has been announced
31/05/18
Bulk annuity transfers conducted by pension schemes have exceeded £15bn in 2018 so far, JLT Employee Benefits has found
31/05/18
A third of employers are still failing to provide online access to members' pension information, despite a majority of Generation Z workers ‘craving’ digital access, it has been found
31/05/18
The Pensions Regulator's CEO Lesley Titcomb is to terminate her tenure at the regulator in February 2019
31/05/18
Consultants, Mercer and Willis Towers Watson (WTW), have defended their position in a new index, highlighting how long it takes companies to release funds to customers who are looking to switch retirement income providers
30/05/18
PLSA policy lead: engagement, EU and regulation James Walsh considers the similarities among pensions across Europe and how the UK’s auto-enrolment policy leads as an example for workplace retirement saving
30/05/18
The Pensions Regulator has estimated that defined benefit schemes in tranche 13, with valuations between September 2017 and September 2018, are likely to see an increase in their liabilities since their last valuation
30/05/18
Women’s expected average annual retirement income has hit a record high of £16,900, although the gender pensions gap still persists, Prudential has reported
30/05/18
Law firm Anthony Philip James & Co (APJ) has filed more than 30 cases against self-invested personal pension (Sipp) provider Liberty Sipp for the mis-selling of Sipps between 2011 and 2013
30/05/18
With such a big focus on corporate social responsibility, many companies operate under the stakeholder style of management, Natalie Tuck asks whether pension schemes been forgotten and weighs up the stakeholder vs shareholder theory
29/05/18
PPI policy researcher Lauren Wilkinson looks at why we won't know whether the pension freedoms have been successful for many years
29/05/18
Twenty-two per cent of those with multiple pension pots, 64 per cent of people, have lost track of one or all of their pensions, according to research by Aegon
29/05/18
A minority of the UK’s largest pension funds have been branded “worryingly complacent” on climate change for failing to consider it in their investment strategies
29/05/18
The Pensions Regulator has warned that it is increasingly using its compliance and enforcement powers
25/05/18
The Office of Tax Simplification (OTS) has asked for a review in the way the emergency tax code is used for lump sum withdrawals from personal pensions
25/05/18
Transfer advice regarding defined benefit pensions could be funded via DB pension rights, Royal London has suggested
25/05/18
The Back to 60 campaign is to submit its formal complaint regarding the All-Party Parliamentary Group for State Pensions to the Parliamentary Commissioner for Standards
25/05/18
Maritime industry workers have an “alarming lack of awareness and understanding” of their pension provisions, research from Ensign has revealed
25/05/18
The BT Pension Scheme (BTPS) deficit has decreased from £7.6bn to £5.3bn over the year to 31 March 2018 on an IAS 19 accounting basis, it has revealed
24/05/18
UK pension fund investors’ decisions are becoming increasingly driven by diversity on corporate boards, Green Park has found
24/05/18
The number of public sector service schemes recording accurate data has fallen by 4 per cent, leading to an increase in legal breaches,The Pensions Regulator has found
24/05/18
Just Group is planning to “disrupt” the defined benefit transfer market with launch of its new business, Hub Pension Solutions
24/05/18
The Pensions Regulator has been “learning lessons” over mistakes made in recent high profile cases such as BHS and Carillion, its chief executive Lesley Titcomb has said
22/05/18
The Consumer Price Index rate of inflation fell to 2.4 per cent over April, according to the Office for National Statistics
23/05/18
Four in five, 79 per cent, of retirees using the pension freedoms are at risk of a financial crisis in later-life as they have not registered a lasting power of attorney (LPA), Zurich has warned
23/05/18
Using accurate data when analysing longevity could reduce scheme pension liabilities by up to 5 per cent, it has been suggested
23/05/18
Pensions Age is thrilled to have been shortlisted in the Pensions Publication of the Year category at the Willis Towers Watson Media Awards 2018
23/05/18
A campaign has been launched calling for the creation of a minister for older people, so that the rights of the over 65s can be considered properly by the government
23/03/18
With just three weeks to go until the Pensions Age Northern Conference, now is the time to book your place at this unmissable event
23/03/18
The Work and Pensions and Business, Energy and Industrial Strategy committees have expressed their disappointment into The Pensions Regulator’s key performance indicator (KPI) targets for the regulation of defined benefit schemes
22/05/18
The University and College Union has announced the members of its expert panel to examine the valuation of the Universities Superannuation Scheme
22/05/18
It is “vital” that the remaining six Local Government Pension Scheme (LGPS) pools sign up to the code of transparency in order to achieve value for money, it has been said
22/05/18
The Association of Consulting Actuaries has elected its first female chair, Jenny Condron FFA, replacing Bob Scott when his two-year term finishes
22/05/18
The pensions gender gap has risen to highs of 76 per cent in parts of the UK, with an average 31 per cent gap between male and female pensions, PensionBee has found
22/05/18
The Pensions and Lifetime Savings Association has appointed Emma Douglas as chair of its policy board, which will be introduced this autumn
22/05/18

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