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More Archive News

One year on from the referendum on the UK’s membership of the European Union, pension schemes still do not know how Brexit is going to affect them.

With the country is ‘wait and see’ mode, Barnett Waddingham senior consultant Malcolm McLean noted that we now have an acceptance that Brexit will happen
23/06/17
A High Court ruling has deemed guidance from the Department for Communities and Local Government for Local Government Pension Schemes “unlawful” and not in the interests of pensions
22/06/17
The Pensions Regulator has recorded one “partially successful” cyber security attack in the last three years, it has been revealed
22/06/17
New research suggests that 90 per cent of defined benefit schemes have a long-term low risk or buy-out objective
22/06/17
Non-retiring female actuaries leave the profession 13 years earlier than their male counterparts, the Institute and Faculty of Actuaries has found
22/06/17
A third, 35 per cent, of under 35s believe the state pension will be scrapped at some point due to funding pressures, according to research by YouGov
21/06/17
The Financial Conduct Authority’s proposals to shake-up the pension transfer advice rules have been largely welcomed by the pensions industry
21/06/17
The income of retired households were reduced by almost 30 per cent in tax payments last year
21/06/17
The defined benefit pension system “destroys economic value” as it places a focus on binary outcomes, either by meeting full benefits or falling into the PPF, the Pensions Institute has said
21/06/17
The scrapping of the triple lock on the state pension and means testing winter fuel payments were absent from the Queen’s Speech
21/06/17
The Financial Conduct Authority has proposed that advisers should not start from the assumption that a defined benefit transfer to a defined contribution scheme is unsuitable
21/06/17
Seventy nine per cent of financial advisers disagree with using annuities as the basis for Transfer Value Analysis assumptions to assess defined benefit to defined contribution pension transfers, according to research by AJ Bell
20/06/17
Aberdeen Asset Management shareholders have approved the proposed merger with Standard Life, it has been revealed
19/06/17
Trustees of defined benefit pension schemes are being urged to make sure they understand the impact of members transferring out has on a scheme’s assets
19/06/17
Conservative proposals to scrap the triple lock and introduce means testing for the winter fuel payment could be dropped as a result of the General Election result, making for a quiet Queen’s Speech for pensions
19/06/17
The volume of transfers out of final salary pension schemes has grown by more than 50 per cent in the last year, Royal London has found
19/06/17
The ability of FTSE 350 companies to meet their defined benefit pension promises has fallen to its lowest level since the recession, PwC has found
19/06/17
The Pensions Regulator has responded to the government’s green paper Security and Sustainability in Defined Benefit Pensions seeking greater powers surrounding pension scheme deficits, definitions and business transaction clearances
16/06/17
Former England and Newcastle football player Alan Shearer has agreed to a settlement after suing Suffolk Life for breach of regulatory duty and a financial adviser for negligent advice centred on pension investments, it has been revealed
16/06/17
Stability is needed in the pensions sector, so the Pensions Minister role shouldn’t be viewed as a “training ground for up and coming MPs”, it has been said
16/06/17
Trustee consultant interactions and relationships are complex and often scheme specific, Aon has found
16/06/17
T-Mobile International UK Pension Scheme trustees have appointed BlackRock as its fiduciary manager
16/06/17
The Pension Protection Fund has announced it is to bring Financial Assistance Scheme administration in-house, as part of its strategic plan for the next three years
15/06/17
Guy Opperman has been appointed as the Parliamentary Under Secretary for Pensions and Financial Inclusion, a new role within the Department for Work and Pensions.
15/06/17
Workplace pensions saving by those in ‘elementary occupations’ has increased by over 50 per cent since the start of auto-enrolment, the Department for Work and Pensions has found
15/6/2017
There is no parliamentary consensus for further increases to the state pension age, Prospect union has said
15/06/17
Eighty three per cent of UK advisers have said that they had seen an increase in demand for pension transfers in the last 12 months, Old Mutual International has revealed
15/06/17
The trustees of the BHS pension schemes have sent 18,000 letters to members of the two schemes setting out the options available to them
15/06/17
The FTSE 100 pension deficit increased by over £10bn in 2016, reversing most of the gains made in 2015, Barnett Waddingham has found
15/09/17
The new Pensions Minister should “hit the ground running” and introduce real change in the sector, it has been said
14/06/17
The campaign against women’s state pension ages does not need to be a “poisoned chalice” for the new Pensions Minister, the Women Against State Pension Inequality (Waspi) campaign group has said
14/06/17
BMW workers have said that a further wave of strikes is “almost certain” if talks with the company are not successful, workers union Unite has revealed
14/06/17
Richard Harrington has moved from the Department for Work and Pensions to the Department for Business Energy and Industrial Strategy, it has been revealed
14/06/17
The Pensions Regulator has told defined benefit pension schemes to ‘do more’ to tackle increased deficits to reduce risk to pensioners
13/06/17
Capita CEO Andy Parker will be challenged over plans to close the company’s defined benefit pension scheme at its annual shareholders meeting today, 13 June
13/06/17
Over half of retirement advisers have been caught out by unexpected Self Invested Personal Pension (SIPP) charges, according to research by Momentum Pensions
13/06/17
The UK’s Consumer Price Index rate of inflation has "caught markets unawares" today, accelerating to 2.9 per cent over May
13/06/17
The Pension Protection Fund 7800 deficit has dropped by £13.3bn over May, according to the latest monthly statistics
13/06/17
The Prime Minister Theresa May should “put her money where her mouth is” when it comes to pension reforms, AJ Bell has said
12/06/17
A potential two thirds, 61 per cent, of women have said they will not be investing into pensions, ISAs or other investment products this tax year
12/06/17
BMW workers have rejected an offer to resolve a long-running pensions dispute with the company
12/06/17
David Gauke has been appointed as the Secretary of State for Work and Pensions following Prime Minister Theresa May’s post-election Cabinet reshuffle
12/06/17
Several industry voices predict the triple lock will be more secure following the shocking General Election result which saw the Conservatives lose their majority
09/06/17
Parliamentary Under-Secretary for Pensions Richard Harrington has retained his seat in the shock General Election result
09/06/2017
The British pound has plunged against other currencies after the UK election concluded in a hung parliament
09/06/17
The unexpected UK General Election result will "unleash mayhem" across global financial markets, it has been said
09/06/17
The future of the Conservative's pension policies are now uncertain as Prime Minister Theresa May has formed a minority government backed by the Democratic Unionist Party in Northern Ireland
08/02/17
Many people do not realise how bad the true value of compensation from the Pension Protection Fund is, according to Rothesay Life head of business development team Sammy Cooper-Smith
08/02/17
Defined benefit transfer values continued to fluctuate in May, growing by £4,000 over the month, according to Xafinity
08/06/17
Future generations are set to face much weightier retirement decisions in the defined contribution pension savings landscape, Royal London has said
08/06/11
The Pensions Administration Standards Body has released its third tranche of guidance on GMP reconciliation, which covers the approach to reconciliation for scheme members entitled to a GMP who were active members when contracting-out ended in April 2016
08/02/17
Retirement specialist Intelligent Pensions has agreed with the FCA to suspend its defined benefit pension transfer business
07/06/17
HM Revenue and Customs should make the rules for contribution refunds for savers exceeding the Money Purchase Annual Allowance more flexible, AJ Bell has said.
According to the firm, there is an “information vacuum” surrounding the level of the MPAA following amendments in last year’s budget
07/06/17
The average gender pension gap in Europe has risen to 40 per cent, Mercer has reported
07/06/17
James Walsh considers the impact of the European Commission’s recent announcement on regulation of the derivatives markets
07/06/17
The Pension Insurance Corporation has invested £60.6m in a student accommodation project with the University of Essex
07/06/17
Trustees of the British Steel Pension Scheme have confirmed that the number of scheme members transferring out of the company pension fund has risen to 482
06/06/17
A total of 80,000 people are estimated to have transferred out of their employer’s defined benefit scheme in the year to end of March 2017, Salisbury House Wealth found
06/06/17
The Pensions Regulator has started to carry out spot checks on auto-enrolment compliance in Greater Manchester.

Greater Manchester became the second area, following London, by which TPR inspection teams visited dozens of businesses to check that qualifying staff are being given the workplace pensions they are entitled to
06/06/17
The Pensions Administration Standards Association, the Pensions and Lifetime Savings Association and the Society of Pension Professionals have joined the cross-industry group on improving transfers and re-registration
06/06/17
Tim Middleton discusses the importance of having a consistent Pensions Minister in the changing climate
06/06/17
Nine out of 10 people have unrealistic expectations of how much money they will need in retirement, deVere Group has found
06/06/17
Auto-enrolment pension provider Smart Pension has received an investment of millions of pounds from one of Norway’s wealthiest families.

According to Sky News, the Stensrud family, who own the Norwegian asset manager Skagen, has bought a stake in the British start-up
05/06/17
The retention of the triple lock could lead to the greatest uplift in millennials’ state pensions Aegon has reported
05/06/17
Tiffany Tsang discusses the ABI's latest analysis on how people are using the pension flexibilities, how well product supply fulfils consumer needs and demands and what actions stakeholders can take to address challenges that pose significant risks to consumer outcomes
05/06/17
Over half, 55 per cent, of the UK’s defined benefit pension schemes are cashflow negative, Mercer has revealed
05/06/17
Increased asset values lead to a slight fall of £11bn in the FTSE 350 pension deficit in May 2017.
According to Mercer's Pensions Risk Survey, the accounting deficit of FTSE 350 DB pension schemes fell from £145bn at the end of April to £134bn at the end of May 2017
06/02/17
PIRC LGPS pension funds recorded an average annual performance of 21.4 per cent in the year to end of March 2017
06/02/17
Pension schemes took "risk off the table" in the first quarter of 2017, BMO Global Asset Management has reported
02/06/17
Nuclear Decommissioning Authority staff are to vote on a newly proposed career average revalued earnings (CARE) pension scheme
02/06/17
Natalie Tuck considers industry views on whether the FTSE 100's record highs in May were beneficial or damaging for pension schemes
02/06/17
In light of World No Tobacco Day, 53 pension funds, investors, health systems, and insurers have written to the World Health Organisation to openly support the tobacco control measures being taken by governments around the world
1/06/17
Barnardo’s has been given permission to appeal a court ruling that judged it could not change its pension scheme’s indexation to the Consumer Price Index from the Retail Price Index
01/06/17
A yearly six per cent contribution rate from millennials could reduce the replacement rate gap by half, the International Monetary Fund has said
01/06/17
Hoover has become the most recent firm to send its defined benefit pension scheme into the Pension Protection Fund.

The household appliances company has agreed a deal with The Pensions Regulator to send its DB pension offering into the lifeboat fund via a solvent restructuring
01/06/17
Indexes of the aggregate defined benefit pension deficit show conflicting results over the month of May
01/06/17
Talya Misiri discusses the perceived lack of tangibility around pensions and why people may not feel in control of their retirement savings
31/05/17
The new General Data Protection Regulation (GDPR) will “drastically affect the future of stored person data” and increase company liability, RSM has said
31/05/17
Chris Hitchen has announced he is to leave his position of CEO at RPMI after 13 years service
31/05/17
Over 55s are three times more likely to opt out of auto enrolment pensions than their younger counterparts, NOW: Pensions has reported
31/05/17
The Scottish National Party has pledged to call for an end of ‘Tory gimmicks’ such as the Lifetime ISA, which the party says ‘disincentives other forms of retirement saving with a greater return’
31/05/17
The main political parties running in the UK general election have failed to address commitments to increasing minimum pension contributions post April 2019, despite supporting an extension of auto-enrolment, the Association of Consulting Actuaries has said
30/05/17
Legal and General has reportedly held talks with the British Steel Pension Scheme over a £15bn buyout of the scheme
30/05/17
Increasing longevity and ageing populations are the “financial equivalent of climate change”, World Economic Forum head of financial and infrastructure systems Michael Drexler has said
30/05/17
The Pensions and Lifetime Savings Association has announced the appointment of Richard Butcher as its new chair
30/05/17
Thousands of BT pension scheme members could have their pensions capped in an attempt to plug the black hole in its £50bn fund, The Telegraph has reported
30/05/17
The Financial Conduct Authority has today, 26 May 2017, introduced new rules requiring providers to give consumers information prompts to encourage shopping around in the annuity market
26/05/17
Telecoms giant BT is considering offering the trustee of its pension scheme some of the company’s assets as a way of managing the company’s pension deficit
26/05/17
Employees at nuclear decommissioning sites across the UK have voted to accept new pension terms following an improved offer on what were unpopular reforms
26/05/17
The double lock policy will cost the UK exactly the same as the triple lock, the Institute for Fiscal Studies has said
26/5/17
Thousands of small businesses owners looking to auto-enrol face fines after part of The Pensions Regulator’s website crashed earlier this week
26/05/17
The Pension Insurance Corporation has completed a £200m buy-in with trustees of the 3i Group Pension Plan
26/05/17
A legal extension of The Pension Regulator’s powers is not necessarily needed, Mercer has said
25/05/17
Pension schemes could attain a “meaningful reduction in risk” by using a longevity swap, Aon has said
25/05/17
Trowers & Hamlins senior associate Rebecca McKay questions whether employer life assurance policies within pension schemes are a hidden liability
25/05/17
The UK government should “stop tinkering” with pension reforms and instead tackle complacent savings behaviour among working age people, the Association of Consulting Actuaries has suggested
25/05/17
Good governance of pension schemes “should never be a tick box exercise, Sackers and Winmark has stated
25/05/17
Thousands of female employees of Lloyds Bank along with the Lloyds Trade Union are to take the bank to the High Court over less generous
24/05/17
Marks and Spencer has revealed that its pension surplus fell by £131.3m in the year to April 2017 due to the closure of its defined benefit scheme to future accrual.
In its full year results, published today 24 May 2017, the UK retailer stated that at 1 April 2017 the IAS 19 net retirement benefit surplus was £692.8m from £824.1m the previous year
24/05/17
Almost nine out of 10, 88 per cent, of trustees and employers of defined benefit pension schemes believe more action is needed to assist members in understanding their options post Freedom and Choice, Hymans Robertson has found
24/05/17
Pension schemes should “kick-start” their General Data Protection Regulation preparations in order to not “fall foul” of the requirements, Sackers has said
24/05/17
Over a three quarters, 85 per cent of retirees think they have retired too early, SunLife has found
24/05/17
The UK “has a lot to learn” from international pension engagement campaigns, the Pensions Policy Institute has said
24/05/17
Eighty two per cent of the 40 largest charities in England and Wales have a defined benefit pension deficit, it has been revealed
23/05/17
The Competition and Markets Authority has today launched an inquiry into the planned merger of Standard Life and Aberdeen Asset Management.

The CMA announced yesterday, 22 May 2017, that it will be investigating the anticipated acquisition of Aberdeen Asset Management by Standard Life
23/05/17
The Serious Fraud Office has launched an investigation into a number of storage pod investment schemes and self-invested personal pension funds
23/05/17
Pension savers risk “sleepwalking into an uncertain retirement” by choosing to reduce their investment risk when approaching retirement, Seven Investment Management (7IM) has found
22/05/17
BP and Glencore have been warned about the risk of investor law suits following statements from the companies on future fossil fuel demand that is at odds with expert analysis, Client Earth has said
22/05/17
Over half of pensions professionals have said that the ‘gilts’ plus’ pensions valuation method is unhelpful in the current environment, Aon Hewitt has reported
22/05/17
The College of Law Pensions and Assurance Scheme has completed its fourth pensioner buy-in of £28m with Aviva
22/05/17
Defined Benefit pension deficit payments are directly lowering employee pay by between £1.4bn and £2.2bn a year, the Resolution Foundation has suggested
22/05/17
British Airways has lost its High Court appeal to prevent its trustees’ discretionary increase to retirees’ pensions, it has been announced
19/05/17
The Investment Association (IA) should not be responsible for developing the Cost Disclosure Code because it is a trade body that is “conflicted” with its members’ interests
19/05/17
Defined contribution asset class diversification was at its highest level in four years over the year to end of March 2017, Schroders has reported
19/05/17
Three quarters of pension savers, 76 per cent, want a pause to further pension reforms, according to research by MetLife
19/05/17
Separate pensions discrimination cases for judges and firefighters are expected to be heard as one case by the Employment Tribunal, following original conflicting judgments
18/05/17
The Conservative party manifesto, published today, is a "victory for the Treasury", it has been said
18/05/17
The Conservative Party will end the triple lock on the state pension in 2020 if they are re-elected at the General Election next month and replace it with a double lock
18/05/17
Royal Mail has recorded a surplus of £3,839m as at 26 March 2017, on an IAS 19 accounting basis
18/05/17
A high profile public service pension dashboard that is "commercially neutral" could help to build public trust in financial services, the PLSA has suggested
18/05/17
The Liberal Democrat’s pledge to review pensions tax relief and look into introducing a single rate of tax relief has been welcomed by those in the industry
17/05/17
The Liberal Democrats have vowed to retain the triple lock and introduce a single rate of tax relief for pensions if they are elected
17/05/17
Pensions and savings issues are split between two differing government departments with somewhat opposing agendas, Lord Hutton has said
17/05/17
The pensions dashboard is to undergo an interim phase of the project to maintain momentum during the general election period, the Association of British Insurers has announced
17/05/17
The Local Government Pension Scheme for England and Wales has seen its deficit drop to £37.2bn, down £9.6bn from £46.8bn in 2013
17/05/17
"More colour" is needed to clarify the roles and responsibilities of pension boards and scheme advisory boards, it has been stated
17/05/17
Tata Steel (TSUK) has agreed the terms of a regulated apportionment arrangement with the trustee of the British Steel Pension Scheme (BSPS), which includes a payment of £550m
17/05/17
A strong relationship between pension boards and scheme managers is key to achieving good outcomes, The Pensions Regulator has said
17/05/17
Labour Party leader Jeremy Corbyn has been described as the “Sheriff of Nottingham” rather than “Robin Hood” in light of the publication of his party’s manifesto
16/05/17
Provision of data to the pensions dashboard "needs to be compulsory", the Association of British Insurers has suggested
16/05/17
The UK’s Consumer Price Index rate of inflation has reached 2.7 per cent, the first time it has been above the triple lock’s 2.5 per cent rate since September 2013 making the policy an “attractive” commitment
16/05/17
Labour has confirmed its pension policies in its manifesto after a leaked version was published last week
16/05/17
Ease, transparency and empowerment are three core values for its member communications, Nest has said
16/05/17
Only half of UK domiciled funds have any independent directors, leading to calls for funds to have a greater independence of fund boards to “limit the scope for conflict of interest”
16/05/17
The global ransomware attack that paralysed the NHS on Friday has been described as a “wake-up call” to pension schemes
15/05/17
A majority of 85 to 90 per cent of schemes that are undertaking 2017 valuations have employers that are able to manage deficits, with no long-term sustainability issues, The Pensions Regulator has found
15/05/17
The defined benefit funding challenge facing schemes and employers is “much more significant” than the position outlined in the Department for Work and Pensions Green Paper, the PLSA has said
15/05/17
The amount of money lost to pension scams reached a record £8.6m high in March with reports from 24 victims, according to figures provided by City of London Police
15/05/17
Bulk annuity transactions topped £21bn in 2016 with a mix of new bulk annuity purchases and back-book annuity transfers making up the total
15/05/17
There would need to be a £800 a year reduction in the state pension for Labour’s plans to hold the state pension age at 66 to be cost neutral
12/05/17
Consolidation is not the only option for sustainability and security in defined benefit pension schemes, SEI has said
12/05/17
The UK will most likely adopt the European Union’s IORP II regulation despite a current timetable to leave the EU by March 2019, just two months after the regulation must be adopted by all member states, according to Sackers senior associate Ferdinand Lovett
12/05/17
The Tullet Prebon Pension Scheme has secured a £270m bulk annuity transaction with Rothesay Life
12/05/17
Pension Protection Fund chief executive Alan Rubenstein has said the PPF 7800 Index’s deficit is “far too high for comfort” but there is no “fundamental affordability issue for DB pensions”
12/05/17
Investments in passive funds would have been the ‘better choice’ in most cases in 2016 as less active funds were found to outperform their benchmark, it has been suggested
12/05/17
The Pensions Regulator’s executive director for regulatory policy Andrew Warwick-Thompson is to leave the firm to become CEO of LGPS Central, it has been confirmed
11/05/17
The Pensions Regulator has published a list of employers it has taken to court for not complying with their auto-enrolment duties
11/05/17
Scrapping state pension age increases will cost taxpayers £300bn, Royal London director of policy Steve Webb has warned
11/05/17
Over half, 51 per cent, of pension professionals would support mandatory consolidation of defined benefit pension schemes in some circumstances
11/05/17
A majority of 84 per cent of FTSE 100 firms have been found to offer cash as an alternative to pensions to employees concerned about breaching the lifetime or annual allowance, LCP has stated
11/05/17
A leaked Labour manifesto has pledged to maintain the triple lock, the state pension age and compensate Waspi women with extra credit, among other pensions commitments
11/05/17
Defined contribution pension income predictions are likely to be eight to 20 per cent lower in 2017/18 than the previous year, Hymans Robertson has said
11/05/17
Defined benefit transfer values fluctuated significantly in April 2017 after months of calm, yet increased by just under one per cent over the month, Xafinity reported
11/05/17
PMI CEO Gareth Tancred discusses the role of the pensions trustee and how it has changed over time
10/05/17
Pensions tax relief should be “wholly owned” by a single government department rather than split between the DWP and Treasury, Hymans Robertson has said
10/05/17
Trustees of defined benefit pension schemes have been urged to heed the words of former US President John F Kennedy and the ancient Greek philosopher Aristotle when it comes to achieving good member outcomes
10/05/17
Around 800 jobs will be cut from the merger between Standard Life and Aberdeen Asset Management, which is expected to achieve cost savings of £200m per year.

In a prospectus, published Tuesday 9 May, the companies said they expect to achieve cost synergies “where duplication exists and by taking advantage of opportunities to leverage the additional scale of the combined group”
10/05/17
Defined contribution scheme trustees should increase their consideration of currency hedging, Aon Hewitt has advised
10/05/17
Changes made to the John Lewis pension scheme have reduced the risk and mean pension scheme costs will be “less volatile”, the Partnership has said
09/05/17
Less than a quarter, 22 per cent, of non-retired people plan to buy an annuity when they reach a pensionable age, CoreData Research has revealed
09/05/17
The Pensions Protection Fund has initiated an investigation into the pre-pack administration of estate agency Cluttons after its takeover left the fund with a £43m deficit, the Financial Times has reported
09/05/17
Plans by Labour to increase income tax for anyone earning over £80,000 would have “significant implications” for pensions, experts have warned
09/05/17
The majority of pension schemes and providers are lacking essential customer data that is necessary for the success of pensions dashboards, ITM has revealed
09/05/17
The deficit of the PPF 7800 Index has increased by £19.1bn over April to reach £245.6bn, the Pension Protection Fund has revealed
09/05/17
Over 80 per cent of Local Government Pension Scheme funds did not include climate risk in their new investment strategies, analysis of their statements has found
08/05/17
The cost of Royal Mail’s defined benefit pension scheme is predicted to reach £1.3bn a year, figures from its latest valuation show
08/05/17
High street footwear firm Johnsons Shoes Company has been issued with a £42,000 fine after claiming it was too busy to meet its pension duties
08/05/17
The Nortel UK pension scheme is set to receive over £1bn as part of a settlement from the company’s assets after pursuing claims for more than eight years
08/05/17
The Liberal Democrat party has pledged to keep the triple lock in its general election manifesto
08/05/17
A ban on pensions cold calling scams "might not work", as scammers could find a way around UK legislation, ITV has reported
5/5/17
As usual, pension policy is being used as a tool by political parties in the run up to the snap general election. Laura Blows muses on why this will always be the case, despite the need to provide a stable long-term saving environment
05/05/2017
Pensions Age deputy editor Adam Cadle reflects on the importance of pension issues within the upcoming General Election
05/05/2017
Sixty eight per cent of BT employees expressed that they have taken action regarding their pensions since attending a seminar held by Wealth at work, it has been revealed
5/5/17
The latest mandates and new in brief from the past week
5/5/17
Over half, 51 per cent, of people say they are unlikely to use the £1,500 pensions advice allowance, which could lead to a “mis-buying crisis”, CoreData Research has warned
04/05/17
Increasing investment in cash ISAs risk losing investors billions, with low interest rates delivering negative real returns, Royal London has reported
04/05/17
LGPS Central has appointed former Pensions and Lifetime Savings Association chief executive Joanne Segars as its non-executive chair
04/05/17
In its six-point pension manifesto the Pensions and Lifetime Savings Association has highlighted the need for pension authorisation legislation to protect schemes from scams
04/05/17
Changes in life expectancy predictions could cut the UK defined benefit pension deficit by £310bn, PwC has reported.
According to the PwC’s Skyval Index, the current UK DB deficit stood at £530bn at the end of April 2017, rising £30bn from the previous month
04/05/17
Approximately one third of FTSE 100 pension schemes will undergo tough negotiations with their sponsors over the next six months, as they look to secure higher cash contributions, JLT Employee Benefits has revealed
03/05/17
With increased data-focused discussions following the launch of the pensions dashboard prototype, the Pensions Administration Standards Association (PASA) is encouraging the industry not to halt positive progress with arguments over data
03/05/17
An increasing number of small firms are “burying their heads in the sand” when it comes to meeting their auto-enrolment duties and staging date, Now: Pensions has found
03/05/17
The triple lock gives state pensioners £2.04 more per week than the double lock, and £7.04 more than if the sum was based solely on price inflation, Hymans Robertson has found.
Hymans Robertson reported that while the basic state pension is £122.20 per week in 2017/18, it would be £120.26 per week if the double lock had been used and £115.28 per week if solely based on price inflation.
03/05/17
The Monsanto Pension Plan has completed a c£100m pensioner buy-in with Scottish Widows
03/05/17
All political parties should make a formal commitment to the recommendations included in the Cridland independent state pension age review, Mercer has said
02/05/17
Over three quarters, 76 per cent, of employees claim that improved financial education would significantly help with important life-issues such as planning for retirement, Capita Employee Benefits has found
02/05/17
Theresa May has revealed a plan to protect employees’ pensions from “irresponsible bosses”, following the BHS scandal, it has been reported.

Dubbed as the "Philip Green Charter", the Conservative Party’s election manifesto will deem it a criminal offence for bosses who put pension schemes at risk and will increase the punishments for those found mismanaging schemes, Sky News has revealed
02/05/17
Workers in their 50s could be “hit hard” by the annual allowance cap on pension contributions, Sailsbury House Wealth has noted
02/05/17
The position of all UK private sector defined benefit pension schemes remained “surprisingly stable” in the year to 30 April 2017, JLT Employee Benefits has revealed
02/05/17
The new government should retain the triple lock for those on the old basic state pension, Royal London has said
02/05/17
BMW staff will be staging another protest over the planned closure of its pension scheme tomorrow, Saturday 29 April, at the company’s flagship showroom on Park Lane, London
28/04/17
The Pensions Regulator is “determined to resolve” issues of data integrity and improve standards of record keeping and data maintenance, it has said
28/04/17
The Pension Schemes Bill, that looks to protect master trusts, has received Royal Assent, it has been revealed.
The Bill will improve the protection available to master trusts by giving greater powers of intervention to the Pensions Regulator and will make scheme authorisation necessary
28/04/17
Royal Mail has proposed a new defined benefit cash balance scheme that will provide members with a guaranteed lump sum at retirement
28/04/17
The Department for Work and Pensions has set new rules enabling contracted-out pensions to transfer into schemes that have never been contracted out.

Following a brief two week consultation, the DWP is to amend the guidelines regarding contracted-out pensions in order to “protect the interests of members and ensure the sustainability” of schemes
27/04/17
The Pensions Regulator is warning pension savers, trustees and administrators of the danger of rogue individuals using scamming techniques, after taking action to prohibit the trustees of 5G Futures Pension scheme
27/04/2017
The Scottish National Party has accused the Conservatives of planning to make cuts to UK pensions
27/04/17
The Pension Protection Fund 'is in safe hands and not run by a bunch of mugwumps', the lifeboat's fund general counsel David Taylor has said
27/04/2017
Pension providers should give their customers standardised annual summaries to encourage earlier and more considered retirement planning, LV= has said
27/04/17
Britain should put an end to state pension provision to the rich and spend more on benefits for the poor, the Organisation for Economic Co-operation and Development has said.
27/04/17
UK pensioners have withdrawn a total of £10.8bn from their pensions over the first two years of the pension freedoms, HM Revenue and Customs has revealed.

According to HMRC’s latest pension freedoms statistics, £6.45bn was withdrawn from pension funds in the financial year 2016/17, up by £2.15bn from £4.3bn the previous year
26/04/17
“Significant competitive tension” in the bulk annuity market is “great news for pension schemes”, Willis Towers Watson head of transactions Ian Aley has said
26/04/17
Well-designed default options and guidance is needed to assist new retirees in the post-freedoms climate, State Street Global Advisors has reported
26/04/17
Over 800,000 are at risk of being over-taxed on their pension when they may not need to be paying any income tax at all, Royal London has warned
26/04/17
Over one in four, 27 per cent, of this year's retirees are worried that Brexit will negatively impacted their finances in the long term, Prudential has found
26/04/17
Workers at the Automatic Weapons Establishment have announced they are to strike for two further 24-hour periods, as the long-running pensions battle continues
25/04/17
Nest, the government-backed mastertrust scheme, has forecasted that it will become completely self-financing by 2038
25/04/17
The government has dropped the controversial reduction of the Money Purchase Annual Allowance, from £10,000 to £4,000, from the Finance Bill 2017.

It has been dropped along with several other clauses from the Bill but Financial Secretary to the Treasury, Jane Ellison, has today told the House of Commons that the remaining provisions will be legislated for in a new Finance Bill during the next parliament at the “earliest opportunity
25/04/17
The number of people paying £3,600 into the Hargreaves Lansdown Self Invested Personal Pension has increased six fold over the last seven tax years
24/04/17
The Department for Work and Pensions (DWP) has launched a consultation on a new option to enable employers in multi-employer pension schemes to defer the requirement to pay an employer debt on ceasing to employ an active member
24/04/17
Over a third of over-55s in Britain are less likely to vote Conservative if the triple lock is at risk, Old Mutual Wealth has found
24/04/17
The number of defined benefit transfers completed in the first three months of 2017 soared by 166 per cent year on year from 2016, Xafinity has reported
24/04/17
The Pension Protection Fund plans to raise £5m with a Fraud Compensation Levy in 2017/18 as it expects a number of possible claims over the next few years
21/04/17
The Pensions Regulator’s budget has increased by £3.5m for 2017-18 when compared to its original planned budget for the year, due to its need to implement the master trust authorisation regime
21/04/17
The Pensions Administration Standards Association (PASA) has appointed Kim Gubler to the newly created position of deputy chair
21/04/17
The National Employment Savings Trust (Nest) has renewed a contract with a proxy voting firm to continue its commitment to responsible stewardship
21/04/17
Employers are swapping pension contributions for cash paid directly to employees, which they must use to save into an ISA or other savings vehicle
20/04/17
The Pensions Regulator has appointed Darren Ryder as acting director of automatic enrolment following Charles Counsell’s resignation
20/04/17
With the introduction of the General Data Protection Regulation next year, Gowling WLG partner Jason Coates looks at the key changes for pensions
20/04/17
PLSA chief executive Joanne Segars is to leave the PLSA after 10 years in the position
20/04/2017
Young workers in their twenties should save £131 a month to secure a comfortable retirement, research by Which? has found
19/04/17
Pensions will be a key “political battleground” in the upcoming General Election on the 8 June 2017, according to those in the industry
19/04/17
On average men have triple the amount of pension savings compared to women, research by Aegon has found
19/04/17
The Financial Conduct Authority is set to focus on making competition in the investment management sector “work effectively”
18/04/17
Pensions policy has been thrown “up in the air” as a result of the snap General Election called by Prime Minister Theresa May today, a former Pensions Minister has said
18/04/17
A sample of firms making non-advised drawdown sales will be reviewed by the Financial Conduct Authority as part of its Retirement Outcomes Review
18/04/17
New pension investments increased by almost a quarter, 24 per cent, in 2016, Equifax Touchstone has reported
18/04/17
The Financial Conduct Authority is to look at whether there needs to be any legislative or rule changes to close any loopholes that scammers use to exploit savers
18/04/17
Rutland Partners, the former owner of Bernard Matthews rejected a buyout that would have protected the company’s pension scheme, correspondence published by the Work and Pensions Committee has revealed
18/04/17
Organisations and research teams have been invited by the Institute and Faculty of Actuaries to submit proposals for a project focusing on modelling pension funds under climate change
13/04/17
With the possibilities that could come from creating the pensions dashboard, Natalie Tuck explains why everyone needs to get involved
13/04/17
Nearly half, 47 per cent of 35-54 year olds or 8.3 million people across the UK plan to use property to help finance their retirement, the Pensions and Lifetime Saving Association has found
13/04/17
The Communication Workers Union is warning of possible strike action following the Royal Mail’s decision to close its defined benefit pension scheme to future accrual by March next year
13/04/17
Following the launch of the pensions dashboard prototype at the Aviva Digital Garage today, you can view the demonstration video here
12/04/17
The Labour Party’s Shadow Chancellor John McDonnell is set to launch its Labour Pensioners’ Pledge Card, which will protect UK pensioners
12/04/17
Economic Secretary to the Treasury Simon Kirby is in discussions with Pensions Minister Richard Harrington over the possibility of making data provision for the pensions dashboard compulsory
12/04/17
The development of the pensions dashboard brings us one step closer to the goal of being able to check all of our pensions, ISAs and current accounts in one place, Economic Secretary to the Treasury Simon Kirby has said
12/04/17
The average retirement income withdrawal rate, which stands at 6.2 per cent of the fund value, could quickly become unsustainable in the long term, Royal London has suggested
12/04/17
Tesco’s pension deficit has more than doubled in the year to the end of February 2017, despite reporting its first sales growth in seven years
12/04/17
The Department for Work and Pensions is consulting on whether to legislate to allow schemes that were contracted-out to transfer members to schemes that were never contracted-out
11/04/17
The latest update from the Financial Advice Markets Review (FAMR) has been criticised by some in the industry for how little has happened
11/04/17
Two years after the introduction of the pension freedoms, less people are withdrawing their savings as one lump sum, the Association of British Insurers has found
11/04/17
The UK rate of inflation, as measured by the Consumer Price Index, remained at 2.3 per cent in the year to March 2017, unchanged from February
11/04/17
The Pensions Regulator's executive director of auto-enrolment Charles Counsell has been appointed to chief executive of the Money Advice Service
11/04/17
Over half a million UK employers have now completed their auto-enrolment duties, according to new figures released by The Pensions Regulator (TPR) today
11/04/17
Unite the union has warned that Fujitsu staff will continue with further industrial action if the company does not reconsider its plans to cut pensions and jobs
11/04/17
The Pension Protection Fund has said it does not believe there is a case of “widespread abuse” from companies whose schemes enter the lifeboat fund
10/04/17
The first designs of the upcoming pensions dashboards have been unveiled to the pensions industry
10/04/2017
Pensions Age is thrilled to have been shortlisted in the Pensions/Benefits Publication of the Year category at the Willis Towers Watson Media Awards 2017
10/04/17
Nine billion pounds of savings invested through auto-enrolment schemes will be wasted every year from 2019 onwards due to unsuitable default funds, new research has claimed
10/04/17
Regulation making the provision of information to pensions dashboards compulsory will be “applied if needed”, PASA chair Margaret Snowdon has stated
10/04/17
Almost half of pension schemes are deterred from undertaking data improvement projects as a result of the perceived costs, ITM has found
07/04/17
Former member-nominated trustees of the Oracle UK Pension Plan, Peter Lewis and Steve Seymour discuss the greatest responsibility of a pension trustee
07/04/17
The latest mandates and news in brief from the past week
07/04/17
The High Court has wound up two Preston-based pension trustee companies following an investigation by the Insolvency Service
07/04/17
The Lifetime ISA could act as a “supplement but not a replacement” to pensions, it has been argued
06/04/17
The Pensions Regulator has secured a second criminal conviction in a matter of days against a head of a charity who has been ordered to pay £6,500
06/04/17
Tens of thousands of pension savers who have used the pension freedoms have missed out on millions of pounds in overpaid tax on their first withdrawals, AJ Bell has reported
06/04/17
The pensions industry is still cautious about the consequences of the pension freedoms reform two years on from its launch
06/04/17
Defined benefit transfer values remained relatively stable during March 2017, falling by less than 1 per cent, according to Xafinity
06/04/17
The Department for Work and Pensions has launched a consultation to extend the early exit charge cap to occupational pension schemes
05/04/17
The Pensions Regulator has secured its first criminal conviction against a solicitor and the law firm he is a partner at, for refusing to provide information
05/04/17
Andrew Warwick-Thompson explains how TPR’s 21st Century Trustee initiative will improve pension scheme governance
05/04/2017
Pension freedoms have boosted the average pension pot to £50,000 up from £29,000 in 2015, according to Aegon
05/04/17
Bulk annuity business volumes exceeded £19bn for the first time in 2016, making it the “most significant” year to date for the market
05/04/17
The percentage of FTSE 350 companies using master trusts has almost doubled since 2015, research by Willis Towers Watson has found
05/04/17
Workplace pension providers “must continually seek feedback” from customers and make necessary changes, the Aegon independent governance committee has said
04/04/17
The government has said it is “not possible” to resolve an auto-enrolment tax issue that sees low earners miss out on tax relief and face paying more than 20 per cent extra for their pension
04/04/17
Slowing longevity rates have led to a “fairly calm” defined benefit pensions market as deficits have only shown slight increases, JLT Employee Benefits has reported
04/04/17
Two thirds of people (68 per cent) say they will save into both a pension and a Lifetime ISA, according to Hymans Robertson
04/04/17
Natalie Tuck argues that to increase trustee diversity we need to recognise our unconscious biases to break the mould
04/04/17
Sir Philip Green has been accused of favouring the Arcadia pension schemes over the BHS scheme, following the publication of Arcadia’s triennial valuation
03/04/17
New research on scams has found 61 per cent would not report being contacted about their pension by a company they have no relationship with, despite the fact that it could potentially be fraudulent
03/04/17
Almost 10 per cent of FTSE 250 companies would need a payment of more than two years’ dividends to settle their defined benefit pension deficits, JLT Employee Benefits has found
03/04/17
Four in ten pension savers say the constant changes to pensions has led to them switching off from the topic, research from Prudential has found
03/04/17
The UK defined benefit pension deficit fell by £20bn to £500bn at the end of March 2017, new figures have shown
03/04/17
The industry has welcomed the “belated development” of the pensions dashboard, despite the Association of British Insurers delivering the prototype to the government on time
31/03/17
Millennials are ‘more confident’ about their retirement prospects than the generation above them, the Retirement Attitudes Programme has found
31/03/17
UK MPs are to debate a motion in the House of Commons on state pensions payable to members outside of the UK next month
31/03/17
The cross-industry group, led by the Association of British Insurers, has delivered the pensions dashboard to government ministers today, 31 March 2017
31/1/17
The latest mandates and news in brief from the past seven days
31/03/17
Automatic enrolment was “misconceived” and is “not pension provision”, it has been claimed in a panel discussion with several pension professionals
30/03/17
The Pensions Regulator has published new investment guidance for defined benefit trustees
30/03/17
A slowdown in life expectancy could reduce pension deficit pressures by £28bn, Mercer has reported
30/03/17
Introducing a fit and proper person regime for pension scheme trustees could take away “some degree of nimbleness” a pensions lawyer has argued
30/03/17
It is of “paramount importance” that the pension rights accumulated before and after Brexit of EU and British beneficiaries are protected, Pensions Europe has said
29/03/17
Pension flexibility for defined benefit pension scheme members is gradually becoming the ‘new norm’ since the introduction of the pension freedoms, Willis Towers Watson has reported
29/03/17
There will be “no negotiations of substance” on Britain leaving the European Union until October, according to political journalist Andrew Neil
29/03/17
In light of the government triggering Article 50 to begin the process of the UK leaving the European Union, pension schemes sponsors and trustees have been told to “keep calm and carry on”
29/03/17
A group of British BMW employees are set to hand in a petition and protest outside BMW’s Munich headquarters today, 29 March 2017, demanding that the Group’s bosses terminate their pension robbery plans
29/03/17
The Pensions and Lifetime Savings Association has launched a new guide aimed at assisting new and participating employers in the Local Government Pension Scheme
28/03/17
Cyber risk and attacks are caused by employee error in more than 90 per cent of cases, Barnett Waddingham has emphasised
28/03/17
Premier Foods has announced it has reduced the pension payments it will make to its schemes over the next three years by £32m
28/03/17
The pension scheme longevity market is in a “state of flux” due to differing mortality data, according to Aon
28/03/17
Two thirds, 65 per cent, of financial advisers have said that they expect defined benefit to defined contribution client enquiries to increase over the next year, Investec Wealth & Investment has found
28/03/17
Talya Misiri discusses the gender pay gap and pensions
27/03/17
Entrust Pension Limited has completed a £70m buy-in with Aviva
27/03/17
Tata Steel is reportedly ‘two to three months’ away from reaching a deal with regulators to allow it to severe ties with the British Steel Pension Scheme.

According to The Telegraph options include transferring the BSPS into a new scheme with lower benefits to ring-fence the company against further liability or moving the scheme into the pension into the Pension Protection Fund
27/03/17
Unite union members working for Fujitsu are on strike today, 27 March 2017, over job and pension cuts
27/03/17
The pensions dashboard must be “all singing, all dancing and all inclusive” when it is launched, PTL managing director Richard Butcher has said
27/03/17
The Association of British Insurers has responded to industry reaction regarding multiple pensions dashboards by confirming that this was the plan all along
24/03/17
More than 80 per cent of pension trustees have expressed low confidence in the clarity of costs incurred by asset managers, Willis Towers Watson has found
24/03/17
The Pension Protection Fund has launched a consultation on its proposals for the Pension Protection Levy for the next three year triennium, starting in 2018/19
24/03/17
The PGL Pension Scheme has completed the first unwinding of a longevity swap advised by Aon Hewitt
24/03/17
A round-up of the latest mandates and news in brief from the past week
24/03/17
The regulations surrounding defined benefit schemes are “inconsistent” with the “freedom enjoyed by the state” when it comes to setting pension ages, Gowling WLG director Chris Stiles has said
24/03/17
“Auto-protection” should be introduced to reduce pension savers’ exposure to financial risks in later life, the Centre for Policy Studies has proposed
23/03/17
Several voices in the pensions industry have expressed their concern at the proposals to implement a “radical timetable” for the state pension age
23/03/17
The Pensions Regulator has published a revised description of a professional trustee for consultation, as part of its 21st century trustee initiative
23/03/17
The increase of the state pension age to 68 should be brought forward to 2039, seven years earlier than planned, the independent state pension age review has recommended
23/03/17
The Pension Insurance Corporation reported an increase of 165 per cent in its pre-tax profit to £276m in the 12 months to 31 December 2016
23/03/17
The independent state pension age review has recommended that the triple lock policy on the state pension should be scrapped at the next parliament in 2020
23/03/17
The Money Age Awards 2017 are now open to entries
23/03/17
The pensions industry is to expect the introduction of multiple pension dashboards rather than a single platform, it has been revealed
22/03/17
The Treasury has ruled out “significant reform” of the UK’s pensions taxation system, it has been revealed
22/03/17
Women planning to retire in 2017 have closed the gap between their male counterparts when it comes to retirement income expectations, Prudential has found
22/03/17
BMW Group bosses are meeting with Unite union today 22 March 2017, to come to an agreement on its ongoing pension dispute
22/03/17
As we mark World Water Day, Natalie Tuck looks at the opportunities for pension funds to invest in water
22/03/17
UK mutual Royal London has appealed to The Pensions Regulator to look at streamlining the DB to DC transfer process
21/03/17
The Local Government Pension Scheme deficit is expected to have fallen by £12bn in three years, fifty per cent lower than predicted, despite a challenging UK defined benefit market, it has been revealed
21/03/17
The Consumer Price Index rate of inflation has hit its highest level since September 2013, rising to 2.3 per cent in the year to February 2017
21/03/17
Increasing the state pension in Scotland could cost the Scottish National Party an additional £60bn over the next 50 years
21/03/17
Sir Philip Green could potentially receive a £15m refund from the £363m he has paid towards the BHS pension scheme, details from the out-of-court settlement have revealed
21/03/17
The consultation on the Money Purchase Annual Allowance has not provided evidence to change the view of the government that the £10,000 allowance is not appropriate
20/03/17
Royal Bank of Scotland Group Pension Fund MNT Stephen Fallowell on why not to give a 'dad lecture' to pension fund members
20/03/17
Chancellor Philip Hammond’s introduction of a 25 per cent tax on transfers to Qualifying Recognised Overseas Pension Schemes (QROPS) is “wholly ill-conceived”, Pension Life has claimed
20/03/17
Strathclyde Pension Fund has signed a letter to food giants such as McDonalds, J.D. Wetherspoon and Domino’s Pizza Group urging them to reduce their use of preventative antibiotics on farm animals
20/03/17
Risk reduction is a “key driver” of increased gilts investments by pensions funds, Barnett Waddingham partner Rod Goodyer has noted
17/03/17
This weeks news in brief, including TPAS chair appointment, JLT Employee Benefits LGPS offering and the PLSA's Made Simple Guide
17/03/17
The HMRC’s online service for qualifying recognised overseas pension schemes (QROPS) is to close on 5 April 2017 as a result of the “pace and volume” of QROPS changes, the Institute of Chartered Accountants has learned
17/03/17
The provisional net investment of pension funds in gilts last year was the largest since 1963, the Office for National Statistics has reported
17/03/17
Average pensioner incomes have risen by almost 14 per cent in the last decade from 2005/06 to 2015/16, the Department for Work and Pensions has reported
16/03/17
Pensions Minister Richard Harrington has appointed Ann Harris as the new chair of The Pensions Advisory Service
16/03/17
JLT Employee Benefits has launched a new cross functional group specialising in serving local government pension schemes (LGPS)
16/03/17
Considerable data risks are being left unidentified as a result of schemes only focusing on conditional data testing, Trafalgar House has warned
16/03/17
Natalie Tuck discusses the top regrets people claim to have at 50 and why saving for a pension should be higher on the list
16/03/17
There are concerns that Chancellor Philip Hammond’s decision to backtrack on the increase to National Insurance Contributions for the self-employed could see pensions tax relief targeted to cover the shortfall.

During the Budget, last Wednesday 8 March, Hammond announced that due to the introduction of the new state pension, which increased the self-employed’s state pension entitlement, NICs for the self-employed would increase
15/03/17
In response to the Financial Conduct Authority’s proposals to update defined benefit transfer redress methodology published last week, the industry has commented that a broader review of the DB transfer process is needed
15/03/17
The Pensions Administration Standards Association has announced the members of its Pension Dashboard Working Group, which will be chaired by PASA director Geraldine Brassett
15/03/17
BMW workers from the Cowley and Hams Hall engine plants in the West Midlands will be holding protests today over the firm’s plan to close their defined benefit pension scheme
15/03/17
A “worrying number” of pension savers not planning to take financial advice could lead to a ‘mis-buying crisis’, LV= has warned
15/03/17
Scottish Council pension funds are investing close to £1.7bn in polluting, fossil fuel organisations, a new report has found
14/03/17
The PPF 7800 deficit has risen to £242bn during the month to the end of February 2017, the Pension Protection Fund has revealed
14/03/17
Royal Mail is contemplating a new pension proposal from the Communication Workers Union; a new type of arrangement where some financial risks will be shared between workers and the employer
14/03/17
The trustee of the Alps Electric (UK) Limited Pension Scheme has completed a £33m pension insurance buyout with the Pension Insurance Corporation
14/03/17
Nearly a quarter, 21 per cent, of pension savers are making greater use of ISAs for retirement planning following the pension freedoms, MetLife has found
14/03/17
ABI assistant director, head of retirement policy Rob Yuille looks at how the self-employed and those working in the gig economy could be brought into auto-enrolment
13/03/17
The UK private rental sector (PRS) has the potential to provide attractive infrastructure investments for Local Government Pension Scheme funds, Invesco Real Estate has found
13/03/17
Pension providers and schemes are being urged to streamline legacy data and client information to prepare for the digital change in the industry such as the creation of the pensions dashboard
13/03/17
Up to half a million lower paid workers could be at risk of missing out on tax relief on their workplace pension contributions, Royal London has reported
13/03/17
Pension Insurance Corporation has invested £93m in secured debt issued by the Welsh Housing Partnership, which was set up as a strategic initiative for delivering new affordable housing for four housing associations, supported by the Welsh Government
13/03/17
The Financial Conduct Authority has published its proposals to update the methodology on calculating redress for those who were given unsuitable advice to transfer out of a defined benefit scheme
10/03/17
The trustee board sector is “behind the game” when it comes to diversity, The Pensions Regulator chief executive Lesley Titcomb has said
10/03/17
Pension schemes need to overhaul their governance structures so they can “lean against the wind” to take opportunities when markets are doing well, RPMI Railpen investment director Ciaran Barr has said
10/03/17
There is weak price competition across the asset management industry in Britain, the Financial Conduct Authority has reported
10/03/17
Good governance is the "foundation of success" for pension schemes the PLSA has emphasised
10/03/17
Consultants and advisers must act as a "critical friend" for trustees to achieve the best possible outcomes for members, Redington and the Royal Mail Pensions Trustees have advised
10/03/17
Human capital is a “significant area” of risk for defined contribution members in default funds, Sustainalytics associate director Doug Morrow has said
09/03/17
Trustees must recognise and distil the behavioural biases inherent within trustee board decision-making processes, in order to navigate the economic environment, Aon Hewitt senior partner John Belgrove has said
09/03/2017
There is no such thing as a "soft Brexit" in Britain, Politician and Journalist Lord Daniel Finkelstein has said
09/03/17
Defined benefit pension schemes are subject to "unacceptable levels of risks" in the current system, the DB Taskforce chair Ashok Gupta has claimed
09/03/17
Tata Steel UK has completed the consultation process on its defined benefit pension scheme and has informed employees it will be closing the scheme to future accrual
09/03/17
Eight more master trust pension schemes have obtained master trust assurance, The Pensions Regulator has announced
09/03/17
Looking at how pensions have changed over the last few decades, former Shadow Chancellor Ed Balls noted that we must always be prepared for the unexpected
08/03/17
The Treasury has revealed that the introduction of the pension freedoms has generated much more than anticipated in tax revenue
08/03/17
The pensions industry needs to put diversity at the top of its agenda, the PLSA has said
08/03/17
The government is to introduce a 25% charge on transfers to Qualifying recognised overseas pension schemes (QROPS) from midnight tonight, Chancellor Philip Hammond has announced in his Spring Budget, in a bid to crack down on tax abuse of foreign pension schemes
08/03/17
The government has announced its plans to amend the tax registration process for master trust pension schemes to align with The Pensions Regulator’s new authorisation and supervision regime
08/03/17
The government has confirmed its intention to publish its review into the state pension age by 7 May 2017
08/03/17
The government has confirmed a reduction to the Money Purchase Annual Allowance to £4,000 from £10,000, despite receiving opposition from the pension industry in response to a consultation
08/03/17
Chancellor Philip Hammond has left pensions largely untouched in his Spring Budget, which although welcomed by some has been described as a “missed opportunity” by others
08/03/17
The Work and Pensions Select Committee has today initiated its inspection of Sir Philip Green's recent deal with The Pensions Regulator on the BHS pension scheme
08/03/17
Labour leader Jeremy Corbyn has given his support to the Women Against State Pension Inequality campaign group who are protesting against rapid increases to their state pension age
08/03/17
The Work and Pensions Committee is investigating the sale of Vauxhall to Peugeot, seeking clarifications on the pension scheme
08/03/17
"Great strides" have been made with women’s position in society but "big divides" still remain when it comes to women’s pensions, former Pensions Minister Ros Altmann has said
08/03/17
The Financial Conduct Authority has extended its risk warnings for the Lifetime ISA to highlight that savers could miss out on employer contributions if they switch their retirement savings to a LISA from a personal pension, following an industry consultation
07/03/17
A landmark same-sex pension equality case will begin in the Supreme Court tomorrow, 8 March, to decide whether a man can secure the same pension benefits for his husband as he could secure if he were married to a woman
07/03/17
Full mergers of defined benefit pension schemes into superfunds offer the “biggest gains”, according to the Pensions and Lifetime Savings Association’s Defined Benefit Taskforce
07/03/17
Brexit and the growing final salary transfer market will be the key drivers in increased demand for guaranteed drawdown options in the next two years, MetLife has claimed
07/03/17
Transfer values rose by 1.9 per cent over February from the previous month, Xafinity has reported
07/03/17
Providers have revealed that around half of customers contacted about a lost pension they have with them do not respond as they think it is scam
06/03/17
The timing of bulk annuity deals has been influenced by Solvency II changes, Aon Hewitt has said
06/03/17
Arcadia Group owner Sir Philip Green has revealed his plan to double annual payments into its pension scheme, The Telegraph has reported
06/03/17
Standard Life has confirmed the terms of its £3.8bn acquisition of Aberdeen Asset Management, which will see the creation of one of the biggest fund managers in Europe with a combined £660bn in assets if the deal goes ahead
06/03/17
The number of people who have reported that they breached the annual allowance limit for pension tax relief rose by 79 per cent, HM Revenue and Customs has revealed
06/03/17
Around £550m of ‘dormant’ pension fund assets left unclaimed could be used to fund social causes, if the government follows up on recommendations made by the independent Dormant Assets Commission
03/03/17
MPs are reportedly considering taking legal action over the Parliamentary Pension Fund’s approach to transparency as well as its possible failure to adequately address the long-term financial risks associated with climate change, the Green Party MP Caroline Lucas has said
03/03/17
Around half, 48 per cent, of employers say they need more regulatory support when it comes to their defined contribution pension schemes, research by Barnett Waddingham has revealed
03/03/17
The Pensions Regulator is to focus on becoming a “nimbler” organisation following its slow response to the BHS pension crisis, the Work and Pensions Committee has revealed
03/03/17
Perceptions of what value for money means for pension scheme members focus around ‘good returns’, new research has found
03/03/17
The latest mandates and news in brief from the past week
03/03/17
The Pensions Regulator has revealed it will carry out spot checks on employers across the UK to make sure they are complying with their auto-enrolment duties
02/03/17
The Department for Work and Pensions has today declared that the National Employment Savings Trust (NEST) is not permitted to expand into the drawdown market
02/03/17
Pensions tax treatment has become ‘schizophrenic’ due to the ringfence around pensions breaking down, PMI president Kevin LeGrand has stated
2/03/2017
An improved pension reform offer by the Nuclear Decommissioning Authority (NDA) has been welcomed by Prospect, the largest union representing workers on the sites
02/03/17
It has been noted that with preparations to trigger Article 50, commencing Brexit negotiations, the Budget may be a low-key affair but there are plenty of potential pensions topics to be aware of
02/03/17
The introduction of auto-enrolment, now over four years ago, signified one of the biggest changes to pension provision in the UK for decades but the complex and unfamiliar requirements mean that some employers have inevitably not complied with the legislation throughout the implementation process discusses DLA Piper partner Claire Bell
02/03/17
The final owner of BHS, Dominic Chappell, is to oppose legal action enforced by The Pensions Regulator to force him to pay millions of pounds into the collapsed retailer’s pension scheme, The Guardian has reported
02/03/17
The pensions industry must collectively work together to improve administration standards, the Pensions Administration Standards Association has said
02/03/17
The net pension deficit for the ITV defined benefit schemes almost doubled to £328m in the year to 31 December 2016
1/3/17
Work and Pensions Select Committee chair Frank Field has urged to government to consider replacing the triple lock policy with ‘double-lock plus’ from 2020 onwards
01/03/17
The deficit for all UK private sector pension schemes soared by 147.7 per cent in the year to 28 February 2017, JLT Employees Benefits has found
1/3/17
Insurance back-book deals could disrupt the annuities market in 2017 at times, Aon has warned
01/03/17
The Pensions and Lifetime Savings Association has launched a new campaign to encourage greater diversity on trustee boards
1/3/17
The UK defined benefit pension deficit grew by £50bn to £520bn at the end of February, new figures have shown
1/3/17
Today’s £363m settlement between Sir Philip Green and The Pensions Regulator on the BHS pensions blackhole will finally see thousands of BHS pensioners offered their original pension promises
28/02/17
BHS chair of the trustees Chris Martin has expressed his delight at the £363m deal reached with Sir Philip Green for the retailer’s pension scheme
28/02/17
Former BHS owner Sir Philip Green has agreed a £363m cash settlement with The Pensions Regulator for the company’s pension scheme
28/02/17
The Cancer Research UK Pension Scheme has completed a £250m pensioner buy-in transaction with Canada Life, Lane Clark and Peacock has announced
28/02/17
The triple lock policy is a ‘haphazard’ way of increasing the state pension relative to earnings, the Institute for Fiscal Studies (IFS) has said
28/02/17
Association of British Insurers director of long-term savings and protection policy Yvonne Braun
28/02/17
Due to strong demand, the deadline for the European Pensions Awards has been extended until 10th March
28/02/17
The Pension Quality Mark (PQM) has appointed former Pensions Minister Sir Steve Webb and former Shadow Pensions Minister Gregg McClymont as non-executive directors of its board
28/02/17
Standard Life has put aside £175m for its misselling of non-advised annuities, it has been revealed
27/02/17
Vacuum cleaner manufacturer Hoover is reportedly in “intensive” talks with the Pension Protection Fund and The Pensions Regulator to offload its pension scheme into the lifeboat fund
27/02/17
The Pensions Regulator executive director for regulatory policy Andrew Warwick-Thompson provides an update on the regulator's latest activities
27/02/17
The reality of a flexible retirement where workers reduce their hours and top up their income with a pension means they will have to work into their late seventies, according to research by Royal London
27/02/17
Defined contribution pension schemes have quickly become the new normal for 98 per cent of new employees joining FTSE 350 companies, Willis Towers Watson has reported
27/02/17
The combined British Airways defined benefit pension schemes’ deficit almost doubled to €989m since the end of June 2016
24/02/17
The Pensions Ombudsman has ruled in favour of Scottish Widows after a complaint was made against them involving a delay to a pension fund transfer, which resulted in a financial loss of £1,466.33
24/02/17
The latest mandates and news in brief from the past week
24/02/17
Not even the winds conjured up by storm Doris could dampen spirits at last night's Pensions Age Awards which saw close to 500 of the pensions industry's elite gather to celebrate the sector's successes from the past year
24/02/17
Rathbone Brothers has closed its defined benefit pension schemes to future accrual following the soaring of its pension deficit to £58.3m at 30 September 2016
23/02/17
Statistics published by the Financial Conduct Authority on the pension freedoms reveal a “failing system” with not enough people taking financial advice or shopping around before accessing their pots, industry voices have said
23/02/17
Almost four times the amount of people accessing their pension pots to buy an annuity are using the freedoms to withdraw their whole pension pot, according to data from the Financial Conduct Authority
23/01/17
Association of Member-Nominated Trustees association member Lee Allford discusses the problems with collective decision making amongst trustee boards
23/01/17
The industry has welcomed the Department for Work and Pensions’ consultation on defined contribution bulk transfers, which has proposed to make it easier for schemes to carry out the transactions without member consent
22/02/17
Over 40 authorities and schools have submitted information to the Teachers’ Pension Scheme for almost 8,500 members as a result of intervention by The Pensions Regulator
22/02/17
Aon Hewitt has completed a bulk enhanced transfer value (ETV) for the Aon Minet Pension Scheme with a 33 per cent take-up rate, improving its buy-out position by £60m
22/02/17
Pension rules for police widowers who have remarried in England and Wales are “antiquated” and they should be brought in line with rules in Northern Ireland, according to North Wales Police Federation deputy secretary Mel Jones
22/02/17
Women could encounter a pensions shortfall of £47,000 at the end of their working life if the gender gap in employer contributions is not addressed, Zurich has reported
22/02/17
The government should consider ways it can extend auto-enrolment so that those with multiple jobs, who do not earn over £10,000 from one of the jobs, are eligible for a workplace pension
22/02/17
The Royal County of Berkshire Pension Fund is to acquire a 20 per cent stake in investment manager Gresham House
21/02/17
The removal of 'sexier' work benefits with the end of salary sacrifice, will encourage employees to focus more on their pensions argues Punter Southall Aspire associate director Darren Hedgley
21/02/17
BMW talks with Unite regarding its proposed pension arrangements are to continue while the threat of industrial action still looms, the union has warned
21/02/17
Transfer values were largely unchanged in January 2017 from the previous month, Xafinity has reported
21/02/17
The Pension Protection Fund has proposed a new levy rule for schemes without a substantive sponsor in its consultation document published today 20 February 2017
20/02/17
The government has said it is against designing and running a defined benefit ‘superfund’ through an arms-length body but is open to supporting the industry create new ways of consolidation
20/02/17
The UK government has said that it is "not persuaded" of an affordability problem for the majority of UK employers operating a defined benefit scheme
20/02/17
The UK government is performing a "£90bn high-wire balancing act" on defined benefit pensions, AJ Bell has argued
20/02/17
Giving The Pensions Regulator power to veto corporate restructuring activities, such as mergers and acquisitions, would be ‘disproportionate’, the government has stated
20/02/17
The government has proposed introducing ‘conditional indexation’ for defined benefit pension schemes so an employer could suspend increases to pension payments if it was in a stressed financial position
20/02/17
A deal to sell the European arm of General Motors, which includes Vauxhall, to France's PSA Group could be terminated due to the British company's pension scheme deficit, the BBC has reported
20/02/17
Blick Rothenberg partner Mark Abbs and senior tax manager Robert Salter look at how a lack of mobility and clarity on the treatment of pensions penalises internationally mobile employees
20/02/17
Corporate governance structures are necessary for sustainable returns for investors, the Pensions and Lifetime Savings Association has said
17/02/17
The calculation of the European Union’s pension liability must be calculated in a ‘reasonable’ way to determine the share the UK must pay upon leaving the European Union, according to a think tank
17/02/17
The latest news in brief and mandates from the past week
17/02/17
The Pensions Regulator is to end regulatory action against the Coats Group following the news that it has confirmed a £225m settlement with the trustees of its pension schemes
17/02/17
One in four, 25 per cent, of new pensioners are to retire in debt this year, in comparison to 20 per cent in 2016, Prudential has found
17/02/17

Getting smart with sustainability
Francesca Fabrizi speaks to David Harris, Head of Sustainable Investment at FTSE Russell, about how sustainable investment is coming to the fore

Latest News Headlines
Adam Cadle provides a summary of the big pensions stories to have hit the headlines this week
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