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More Archive News

Natalie Tuck looks at why there are no Northern counties in the top five of the Prudential Quality of Retirement Index
18/08/17
Royal Mail Pensions Trustees Ltd’s CEO Chris Hogg is to join the National Grid
18/08/17
News in brief from the past week
18/07/17
The Pension Regulator’s anti-avoidance case against ITV’s Box Clever Pension Scheme is to be heard in the Upper Tribunal following a decision by the Court of Appeal to block the broadcaster's latest legal challenge.

ITV had wanted to appeal a decision which allows the regulator to introduce new evidence in its anti-avoidance case against the broadcaster when the case is heard in the Upper Tribunal
18/08/17
Missing information on the pensions dashboard may offer a “bad customer experience”, it has been suggested
18/08/17
A company director has been imprisoned for using his clients’ pension investments for his own “lavish lifestyle”
17/08/17
The Communication Workers Union has announced its decision to extend the deadline for Royal Mail to settle its pensions dispute to 6 September 2017
17/08/17
Royal London has revealed a strong performance across its pensions business, with its Royal London Group Pension Scheme moving out of deficit
17/08/17
Norwich department store owner Jarrold and Sons Ltd has completed a £19m buy-in with Aviva
17/08/17
There are “two camps” surrounding auto-enrolment pensions scheme contributions and the phasing of higher rates, Aegon head of pensions Kate Smith has said
17/08/17
Local Pensions Partnership has named Alan Schofield as non-executive director of the board
16/08/17
The majority of finance chiefs are in favour of transferring pension risk to an insurer due to the increasing costs and volatility of managing defined benefit pension plans, Prudential Financial has revealed
16/08/17
Investors, including pension funds, which voted against the high salaries of FTSE companies in 2016 have made an impact, the Investment Association has revealed
16/08/17
Annuity rates fell in Q2 2017 following two consecutive quarters of growth, Moneyfacts has reported
16/08/17
Following the launch of the pensions dashboard earlier this year, the Pensions Administration Standards Association (PASA) has outlined the current status of the project
15/08/17
The IPC Media Pension Scheme has appointed BlackRock as its fiduciary manager to look after assets of around £600m
15/08/17
An average total of 83 per cent of employees regard saving into a workplace pension as the norm, a recent survey has revealed
15/08/17
The Labour Party is to embark on a national tour campaigning against the Conservatives’ plan to increase the state pension age from 66 to 68 in 2037
15/08/17
Workers union Unite are urging Capita to rethink its pension proposals including the closure of the current defined benefit scheme
15/08/17
The Consumer Price Index rate of inflation stayed the same at 2.6 per cent throughout July, the Office for National Statistics has reported
15/08/17
Pension funds have been warned of the risks of poor standards of food safety, antibiotic use and environmental management in the Asian meat, dairy and seafood sector, which threatens investments
14/08/17
A “carriage clock retirement”, where people stop working and rely solely on their pension is no longer an option, with 52 per cent of UK expectant retirees anticipating that their financial situation will not support their desired lifestyle, The People’s Pension (TPP) has reported
14/08/17
Aberdeen Asset Management and Standard Life have today, 14 August 2017, completed their merger to form Standard Life Aberdeen
14/08/17
The agreement between The Pensions Regulator and Tata Steel of a Regulated Apportionment Arrangement for the British Steel Pension Scheme has led to calls for a rule change
11/08/17
The Pensions Regulator has announced it has given initial approval for a Regulated Apportionment Arrangement to allow Tata Steel to separate from the British Steel Pension Scheme
11/08/17
The Royal Mail Statutory Pension Scheme reported an increased total pension liability of £46.814bn to the year ending 31 March 2017
11/08/17
The latest mandates and news in brief from the last week...
11/08/17
With eight active providers in the buy-in and buyout market, there is currently the highest level of competition since 2008, Lane Clark & Peacock (LCP) has revealed
11/08/17
A collaborative industry approach, technology and improving documentation standards could improve the defined benefit transfer experience, Origo has said
10/08/17
Prudential UK & Europe has announced its decision to merge with M&G to form M&G Prudential
10/08/17
The defined benefit “crisis” is being “vastly overrated”, Quantum Advisory has argued
10/08/17
The Pensions Regulator has revealed a number of high profile employers who have failed to comply with their basic pension duties
10/08/17
SSE-affiliated schemes, the Scottish Hydro-Electric Pension Scheme (SHEPS) and the Scotia Gas Networks Pension Scheme (SGNPS) has completed a £1.2bn longevity risk hedge through two buy-ins and a longevity insurance transaction
10/08/17
The Pensions Regulator has today, 10 August 2017, unveiled its revised professional trustee description and a new monetary penalties policy
10/08/17
Member engagement can be “actively dangerous” for some, resulting in poor outcomes, The People’s Pension head of policy and market engagement Darren Philp has warned
09/08/2017
Existing cross-border pension and insurance contracts are at risk from Brexit, as companies may be left with a “stark choice” of either breaking the law or promises to customers due to Brexit, the Association of British Insurers has warned
09/08/17
The Pensions and Lifetime Savings Association, has today, 9 August 2017, announced the appointment of Chris Hogg and Carol Young as the new chairs of its defined benefit and defined contribution councils
09/08/17
The UK bulk annuity buy-in market is set to skyrocket over the next 15 years, Hymans Robertson has said
09/08/17
Pension trustees are working more days in a year but the overall average annual pay has decreased in the last two years, according to research by PwC.

Its latest biennial survey of pension scheme trustees, which surveyed 54 schemes with assets between £0.5bn and £5bn, found that the annual pay for the board chair, and chair committee, has reduced
09/08/17
Industry experts have been shunned for “destroying trust” in pensions, specifically regarding pension transfers since the introduction of the Freedom and Choice reforms
09/08/17
Plugging defined benefit scheme deficits with larger cash injections may not be an effective use of money by companies, research by Punter Southall has found
09/08/17
The title of this blog is in tribute to the many comments left by Facebook users in response to the prospect of living longer...
08/08/17
Total assets invested in Standard Life's drawdown propositions rose by 11 per cent to £18.2bn up from £16.4bn FY 2016 as more customers look to cash in on inflated DB transfer values
08/08/2017
Workers union Unite has called on the Royal Mail to provide a more detailed but simplified explanation of its pension proposal
08/08/17
The number of UK retirees receiving a private pension income has almost doubled from 45 per cent in 1977 to just under 80 per cent last year, the Office for National Statistics has revealed
08/08/17
A total of 97 per cent of companies are currently experiencing pension intertia within their workforce, LifeSight, Willis Towers Watson has found
08/08/17
The Regulated Apportionment Agreement (RAA) for the British Steel Pension Scheme (BSPS) is to be finalised “shortly”, Tata Steel has announced
08/08/17
The combined deficit of the schemes in the PPF 7800 has dropped £6bn over the month of July to £180.1bn, the Pension Protection Fund has revealed
08/08/17
The government is to introduce a new Data Protection Bill to bring the European Union’s General Data Protection Regulation (GDPR) into UK law, the Department for Digital, Culture, Media and Sport, Digital Minister Matt Hancock has announced
07/08/17
The Local Pension Partnership is reportedly considering spending £300m for a stake in Anglican Water
07/08/17
The number of divorcing couples seeking to divide their pension pots has increased by 43 per cent in the last year, law firm Collyer Bristow has reported
07/08/17
The UK’s FTSE 350 firms saw a £9bn reduction in their defined benefit pension deficits over July; sparked by an unexpected fall in inflation, Mercer has said
07/08/17
Barclays has not had an “easy ride” over a deal which has led to it reducing its contributions to its pension scheme, despite the deficit increasing by £1.9bn, the scheme’s chairman has said
Transfer values remained relatively stable during July, falling by less than one per cent, Xafinity has reported
07/08/17
The shortlist for the 2017 MoneyAge Awards has been announced
04/08/2017
The surplus of the Pearson UK defined benefit pension scheme has increased by £163m in the year to 30 June 2017
04/08/17
The government has suggested the pensions industry leads the way in helping defined contribution funds overcome barriers to investing in young innovative firms
04/08/17
Substantial numbers of baby boomers, especially lower and middle earners, are expecting to work past state pension age, while those who have experienced the most financial hardship throughout their lives are approaching retirement in poorer health and are the most likely to report that they are unable to save
03/08/2017
The Court of Appeal has overturned a judgment by the High Court and ruled in favour of IBM in a case concerning changes to the company’s pension schemes
03/08/17
The defined contribution pension pot of someone who remains in a default fund is almost 700 per cent smaller than someone who actively chooses their own investments, new research has found
03/08/17
The Pensions Management Institute has appointed Robert Branagh as its president, taking over from Kevin LeGrand who has served in the role since 2015
03/08/17
In the global, modern world that we live in, it is second nature for pension funds to spread their investments across a range of different assets, but this wasn't always the case. Natalie Tuck looks back at pension fund asset allocation over 50 years, and asks, what does the future hold
02/08/17
A lack of younger representatives on trustee boards pushes issues such as climate change into the future, ShareAction investor engagement manager Anne-Marie Williams has said
02/08/17
The total defined benefit pension deficit for BAE Systems has dropped to £5.9bn from £6.1bn at the end of 2016
02/08/17
The increased female SPA for women from 60 to 63 has already boosted government finances by £5.1bn a year, but has left 1.1 million women worse off by an average of £32 per week according to the Institute for Fiscal Studies
02/08/2017
Defined benefit pension liabilities have increased by 85 per cent over the last ten years reaching a staggering £625bn, according to a report by LCP.
02/08/17
The Employer Covenant Working Group (ECWG) has announced the election of Donald Fleming to chair the group with effect from 1 August 2017
02/08/17
Following in the footsteps of France, the British government announced last week its plans to ban the sale of new petrol and diesel cars from 2040. But how will this impact pension schemes?
01/08/17
New proposals designed to increase confidence for advisers and providers when dealing with insistent clients in the advice market have been published by the Financial Conduct Authority
01/08/2017
The scope of the investigation under the actuarial scheme in connection with the pension schemes of various companies within the Guinness Peat Group is to be extended to include the conduct of a further member, the FRC has said
01/08/2017
The combined deficit for UK defined benefit schemes fell by £40bn over the month of July, according to PwC’s Skyval Index
01/08/17
Raising tuition fees to help plug the Universities Superannuation Scheme’s £17.5bn deficit would “take intergenerational unfairness to a new level”
01/08/17
The Court of Appeal has ruled that a 1 per cent cap on pensionable pay introduced by the BBC did not breach its implied duty of trust and confidence
31/07/17
The Pensions Regulator used its formal powers, such as issuing compliance notices, unpaid contributions notices and penalty notices, in 69 per cent of its non-compliance cases, it has revealed
31/07/17
Chancellor Philip Hammond is reportedly eyeing up a cut to higher rate pensions tax relief as part of his plan to plug the country’s deficit
31/07/17
The IAS 19 accounting deficit for Trinity Mirror’s defined benefit pension schemes fell by £59.2m in the 26 weeks up to 2 July 2017
31/07/17
One in five pensioners now have the “misery” of having to submit an annual tax return, a Freedom of Information request has found
31/07/17
The board of Chelverton Equity Partners (CEPS) has announced it has transferred the Dinkie Heel Defined Benefit Pension Scheme from Davies Odell Limited to CEPS plc, with effect from 28 July 2017
31/07/17
Approximately 320,000 homeowners between the age of 51 and 65 are planning to access cash from their pensions to pay off their mortgage, research has found
31/07/17
Barclays defined benefit pension deficit increased by £1.9bn in the year to 30 September 2016, its latest triennial valuation has revealed
28/07/17
The medium disposable income of retired households’ income has increased by 14.9 per cent since the financial crisis in 2008, figures from the Office for National Statistics have revealed
28/07/17
Pricing in the bulk annuity market has continued to improve, despite some concerns over market capacity, Aon has said
28/07/17
Molins UK Pension Fund MNT director Steve Wickham gives his views on the Pensions Minister and how he is looking forward to attending more industry events upon his retirement
28/07/17
There was a lot in Secretary of State David Gauke’s recent speech to the Association of British Insurers about the need for continuity and consensus, for thinking about the kind of pension reform we all might like to see over the long term and how best we might be able to build that consensus going forward
28/07/17
Newly published statistics from HM Revenue and Customer that show it paid back over £26m of overpaid income tax to those who accessed their pensions have sparked outrage
27/07/17
Risks posed by cyber security and data protection are at the forefront of UK pension scheme concerns, according to research released today by national audit, tax and advisory firm Crowe Clark Whitehill
27/07/2017
The Pensions Regulator has fined the London Borough of Barnet Pension Fund £1,000 for failing to submit its 2016 scheme return
27/07/17
The Pensions Age Awards 2018 are now open to entries for all UK pension schemes or provider firms serving in the UK
27/07/17
Pensions Insurance Corporation has invested £60m in Red Kite Community Housing Limited, a regulated housing association based in High Wycombe
27/07/17
More than half of pension schemes are planning to re-evaluate their relationship with their investment consultant in the wake of the FCA's Asset Management Market Study according to a recent SEI poll
26/07/2017
Talya Misiri compares the recently revealed BBC presenters' salaries with the growing BBC pension deficit
26/07/17
The Supreme Court has today overruled a judgment by the the Scottish Sheriff’s Court on the pension rights which are included in matrimonial property during a divorce
26/07/17
GKN is to make a £250m lump sum payment to address the deficit of its defined benefit pension scheme in a pledge to reduce its future deficit recovery payments, it has been revealed
26/07/17
The Institute and Faculty of Actuaries has called for a greater understanding of the drivers of longevity in order to improve future forecasts
26/07/17
ITV’s net defined benefit pension deficit has risen by £15m in the six months to 30 June 2017, it has revealed
26/07/17
A total of £1.86bn has been cashed in from pensions in Q2 2017, the highest quarterly withdrawal recorded since the introduction of the pension freedoms, HMRC has revealed
26/07/17
Private sector master trust The People’s Pension has announced the enrolment of its three millionth member
25/07/17
Society of Pension Professionals DC committee member Ian Neale outlines the key pensions issues still to be addressed in the post EU referendum climate
25/07/17
Association of British Insurers policy adviser Lucie Forgie discusses the transfer and re-registration process and how these can be made clearer for consumers
25/07/17
The Pensions and Lifetime Savings Association has appointed Julian Mund as its new chief executive
25/07/17
The BBC’s DB schemes' liabilities have the largest impact on the corporation's balance sheet, with its DB deficit growing by 14 per cent over the past year, its annual report has revealed.
According to the BBC’s Annual Report and Accounts 2016/17, at 31 March 2017, the accounting deficit, as defined by IAS 19, increased by 14 per cent to £1.149bn from £1.011bn a year ago
24/07/17
Now: Pensions has announced its decision to withdraw itself from the master trust assurance list of providers for auto-enrolment, while it works to resolve historic issues processing contributions for a small percentage of clients
24/07/17
West Midlands Pension Fund strategic director of pensions Geik Drever is to retire at the end of September 2017 after more than five years with the fund and 30 years within the public sector
24/07/17
The government’s plans to increase the state pension age to 68 by 2039 means that 7.6 million people will lose almost £10,000 each
24/07/17
Scottish Local Government Pension Funds should be allowed to pool assets and invest in Scottish infrastructure projects, the Scottish National Party’s growth commission report will say
24/07/17
PLSA policy lead for EU and international James Walsh discusses predictions for Brexit following the UK General Election
24/07/17
The Pension Protection Fund’s chief executive Alan Rubenstein has informed the board of his intention to resign in early 2018
24/07/17
The Financial Conduct Authority has confirmed new rules on the collection of pension freedom data, which will come into effect in September 2018
21/07/17
Royal Bank of Scotland Group Pension Fund member-nominated trustee Stephen Fallowell explores why the government might not be asking the right questions when it comes to pensions savings
21/07/17
The latest mandates and news in brief from the past week
21/07/17
The government must do more to extend pension coverage in order to tackle the UK’s savings gap between generations, the International Longevity Centre UK has said
20/07/17
LGPS Central has appointed John Nestor and Eithne McManus as non-executive directors, following the earlier appointments of Joanne Segars and Andrew Warwick-Thompson
20/07/17
The Department for Work and Pensions has launched a consultation on defined benefit alternative quality requirements and provisions for seafarers and offshore workers
20/07/17
Pensions Management Institute president Kevin LeGrand looks at how auto-enrolment can be extended to cover the self-employed
20/07/17
Steve Webb served as Pensions Minister for five years, followed by Ros Altmann at just 13 months, and Richard Harrington at 11 months. Natalie Tuck looks at why Guy Opperman may be the nine month Minister
20/07/17
Savers who invest through a group personal pension plan can expect to gain higher returns than those who take out a personal pension plan
20/07/17
It is “too early to determine” the full remit of the single financial guidance body, the Parliamentary Under Secretary of State for Pensions and Financial Inclusion, Guy Opperman has said
20/07/17
Plans by the government to bring forward the increase of the state pension age to 68 by seven years will hit the “sandwich generation”
19/07/17
The government is to increase the state pension age from 67 to 68 by 2039, seven years earlier than previously planned, it has been announced
19/07/17
The retirement process has now become “a journey and not a destination”; while the purchase of fixed-term annuities has increased in popularity, IRESS has reported
19/07/17
Bulk annuity levels are currently at a 10-year high with extremely attractive pricing and plentiful capacity driving an increase in activity
19/07/2017
The lifetime allowance is to increase in line with inflation in 2018, the Treasury has confirmed
19/07/17
Behavioural nudges that help people improve their choices in readiness for retirement should be given at ‘teachable’ moments in life, as well as being tailored for different sections of society, research suggests
19/07/17
Savers may “take their foot off the gas” with retirement saving following the UCL’s findings that the rises in English life expectancy have almost levelled off, the industry has warned
19/07/2017
The government has confirmed that it has no plans to make any further changes to survivor benefits for police pension schemes
19/07/17
The government is considering whether the provision of information to the pensions dashboard should be made compulsory
19/07/17
The UK has dropped to 18th place in a global retirement ranking for retirement security, declining by one place since last year
19/07/17
Royal Mail has seen its revenues increase by 1 per cent in the three months up to the end of 25 June 2017, despite its ongoing pensions dispute with staff and unions
18/07/17
The expenditure for auto-enrolment in 2016/17 was 34 per cent less than budgeted for, the Department for Work and Pensions has revealed
18/07/17
External cyber-attacks have been identified as the top digital risk for pension and insurance companies
18/07/17
Demand for advice and support on pensions now operates in both the accumulation and decumulation phase, which is “very much a new thing”, Financial Conduct Authority chief executive Andrew Bailey has said
18/07/17
Rising rates of life expectancy in England have almost “ground to a halt”, nearly halving since 2010, University College London Institute of Health Equity director Sir Michael Marmot has found
18/07/2017
The Pensions Regulator has published a report on its first criminal prosecutions for the failure to provide requested information as part of ongoing investigations
18/07/17
UK inflation fell unexpectedly in June to 2.6 per cent, substantially reducing the likelihood of an August interest rate rise
18/07/2017
The Environment Agency Pension Fund achieved a 103 per cent asset to liability ratio in its recent actuarial valuation and annualised 11.6 per cent investment returns over the last five years, according to its 2016/17 annual report and financial statements
18/07/2017
The Financial Conduct Authority is to cover ‘wrappers’ platforms including self-invested personal pensions and ISAs in its Investment Platforms Market Study, it has revealed
17/07/17
Chancellor Philip Hammond has defended his reported comments on public-sector pay and pensions
17/07/17
Smaller pension scheme funding levels were hit five times as hard as their larger peers, according to new research from Goldman Sachs Asset Management
17/07/2017
Pensioners from the former UK Atomic Energy Authority, now AEA Technology, have launched a campaign to recover an estimated £182m pension shortfall and for the fair treatment of its members
17/07/17
The Financial Conduct Authority has fined FGS McClure Watters (FGS) and Lanyon Astor Buller Ltd compliance oversight officer David Watters £75,000 for breaching regulatory standards on pension transfer advice
14/07/17
Pensions Age’s latest recruit, 15 year-old work experience student Thisbe Titley, discusses her week in the industry, her views on financial education and advice
14/07/17
The Treasury could save £10bn each year if the government rethinks certain auto-enrolment requirements, the Centre for Policy Studies has said
14/07/17
Annuity rates are back up to pre-Brexit referendum levels, it has been reported
14/07/17
Royal Mail has confirmed its plans for a new pension plan that comprises of a defined benefit cash balance scheme and a defined contribution scheme that will be funded within its current £400m annual pension contribution
14/07/17
Nearly 40 per cent of companies do not offer support to employees transferring out of their DB scheme, research by Jelf Employee Benefits has found
14/07/17
Laura Blows discusses the recent landmark Supreme Court ruling in favour of same-sex couples' pension benefits and why this is long overdue
14/07/17
The concept of ‘pretirement’ where people do not fully retire upon reaching state pension age, but instead scale back on work or change jobs altogether, has become a new retirement reality, according to research by Prudential
14/07/17
The government has confirmed it is reinstating a planned cut to the Money Purchase Annual Allowance from £10,000 to £4,000
13/07/17
Savers who receive financial advice accumulate an average of £40,000 more in pension wealth and liquid financial assets than those who don’t, it has been revealed
13/07/17
The government is to appeal a High Court judgment which ruled that guidance issued to Local Government Pension Schemes on boycotting and divestment from foreign nations is “unlawful”
13/07/17
Local Government Pension Schemes need to be aware of the April 2018 deadline for creating investment pools, Aon has warned
13/07/17
Frank Field has been re-elected as the chair of the Work and Pensions Select Committee, it was confirmed today, 13 July 2017
13/07/17
The Department for Work and Pensions is to launch a white paper on the future of defined benefit pension schemes.

The white paper will consider the need to evolve and adapt the regulatory regime to improve security for members
13/07/17
A ‘sidecar’ account that is accrued through a similar format to workplace pensions could assist employees with saving for the long and short term, The Aspen Institute has proposed
13/07/17
A case involving the pension benefits of a part time worker in a judicial pension scheme has been referred to the European Court of Justice by the Supreme Court
12/07/17
SCOR has completed a £1bn longevity reinsurance agreement with the Pension Insurance Corporation
12/07/17
The Financial Conduct Authority’s Retirement Outcomes Review appears to be a “regulatory cry for help”, Hargreaves Lansdown head of policy Tom McPhail has said
12/07/17
In a landmark judgment, the Supreme Court has today, 12 July, ruled that same-sex couples that are married or in a civil-partnership should have the same pension benefits as heterosexual couples
12/07/17
The Financial Conduct Authority has identified several issues with the drawdown market in its latest report on retirement outcomes, which has led it to call for “intervention” to put the market on the “best footing for the future”
12/07/17
Savers are missing out on a collective £130m over their retirement by sticking with the same provider when purchasing an annuity, research by the Pensions Policy Institute has found
12/07/17
Several industry voices have called on the government to build on the recommendations made in the Taylor report, published today, on the subject of pensions for the self-employed
11/07/17
The government should explore ways to improve pension provision for the self-employed through digital platforms, the Taylor Review has said
11/07/17
Over eight million employees have been enrolled into a workplace pension since the introduction of automatic enrolment, the latest declaration of compliance from The Pensions Regulator reveals
11/07/17
Pensions Age’s latest recruit, 15 year-old work experience student Thisbe Titley, writes about her lack of financial education in school and after one day in the industry, what she thinks of pensions
11/07/17
The government has confirmed it will boost consumer protections by requiring pension providers to give personalised risk warnings to savers considering transferring out of policies with Guaranteed Annuity Rates (GARs)
11/07/17
The total deficit of schemes in the Pension Protection Fund’s 7800 Index has dropped to £186.2bn over June, down from 232.3bn at the end of May 2017
11/07/17
BMW workers have accepted a revised offer over the closure of their final salary pension scheme
11/07/17
Nest Corporation’s assets under management have almost doubled over the past year from £825,000 to £1.6bn
10/07/17
Half of Brits are unaware that the government enhances their pension contributions in the form of tax relief, with many potentially missing out on tens of thousands of pounds in retirement
10/07/17
The Pensions Regulator has recovered more than £650m from UK defined benefit pension schemes including BHS and Coats Group in the last year
10/07/17
The Pensions Ombudsman has seen enquires increase by 22 per cent year-on-year, with more than 6,000 complaints received in 2016/17
10/07/17
A third of UK defined benefit pension schemes are at risk of failing to pay full member benefits, Punter Southall Transaction Services (PSTS) has said
10/07/17
The Pensions Regulator has secured a criminal conviction against a former office manager of a company that is at the centre of a £13.75m scam case, for refusing to provide relevant information to the investigation
07/07/17
Ninety-six per cent of employers are confident they are fully compliant with their ongoing auto-enrolment duties, according to research by The Pensions Regulator
07/07/17
The length of defined benefit recovery plans presents a “significant risk” to the Pension Protection Fund, according to the lifeboat fund’s chief risk officer Hans den Boer
07/07/17
The Pension Protection Fund has published its financial returns for the year, which show assets have increased by £5.3bn from £23.4bn up to £28.7bn
07/07/17
The government has scrapped plans to introduce a pensions cold calling ban from the Financial Guidance and Claims Bill
06/07/17
Defined benefit pension transfer values decreased by 3.7 per cent over the month to the end of June, falling to £232,000
06/07/17
A number of industry groups have united to establish a set of ‘fit and proper protocols’ to be met by professional trustees
06/07/17
The newly appointed Minister for Pensions and Financial Inclusion, Guy Opperman, has been heckled for suggesting women affected by state pension age increases should consider taking up an apprenticeship
06/07/17
Pricing in the longevity market is “back in sync” after the dislocation that happened last year due to mortality statistics, according to Aon Hewitt
06/07/17
Less than half of savers with a defined contribution pension are satisfied with their provider, according to the Financial Conduct Authority’s Financial Lives Survey
05/07/17
The Pensions Regulator has warned that trustees who fail to meet their basic governance duties will receive a financial penalty
05/07/17
FTSE 350 liability values varied by almost £30bn between their high and low values during June 2017, Mercer has reported
05/07/17
Trustees should offer a partial defined benefit transfer as a standard option, according to a new report by LV=
05/07/17
Underpayments of benefits excluding the state pension were at the highest recorded levels in 2016/17, the Department for Work and Pensions has revealed
05/07/17
The upcoming increases to auto-enrolment contributions will “test the inertia principle” of saving, according to The Pensions Regulator chief executive Lesley Titcomb
05/07/17
Aviva and Royal London have published a proposal on how to extend auto-enrolment to the self-employed
05/07/17
The Pensions Ombudsman has refused to take action on a complaint made against the trustees of the Standard Life Staff Pension Scheme regarding a cash equivalent transfer value
04/07/17
Secretary of State for Work and Pensions David Gauke has said he is keen to build on the “continuity and consistency” that the pensions industry is hoping for
04/07/17
Zurich Assurance has signed a longevity hedge swap with Skanska Construction Services Trustee Limited (the Trustee) covering £300m of liabilities
04/07/17
A collective amount of £756m has been missed out on due to people not shopping around when purchasing annuities, according to analysis by Retirement Advantage
04/07/17
Advisers are unhappy with their Pension Wise funding allocation for 2017/18 as they are not benefitting from the advice service or pension reforms, the Financial Conduct Authority has reported
03/07/17
The upcoming auto-enrolment contribution increases in April 2018 and 2019 could lead to one million opt-outs in 2019, Hargreaves Lansdown has said
03/07/17
Employees should consider a ‘plan B’ for their retirement income as defined benefit pension liabilities held by SMEs continue to rise, Salisbury House Wealth has advised
03/07/17
Ninety-seven per cent of the UK’s defined benefit pension schemes with assets over £1bn are now closed to new members, Barnett Waddingham has reported
03/07/17
UK defined benefit pension fund deficits continued to fall in June 2017, regardless of ‘political turmoil’ caused by the general election and the Brexit negotiations
03/07/17
The government is not able to provide an estimate of the fiscal impact scrapping higher rate pensions tax relief would have
03/07/17
The government has said it is open to proposals from the Mineworkers Pension Scheme on its surplus sharing arrangements
30/06/17
Newly appointed Parliamentary Under Secretary of State for Pensions and Financial Inclusion, Guy Opperman, has taken on his first pension challenges on topics such as women’s state pensions and the triple lock.

Upon on his appointment as the Minister earlier this month, Opperman said he was looking forward to building on the efforts of auto-enrolment and helping people prepare for later life, with both a private and state pension
30/06/17
The Pensions Regulator has warned employers of a scam which involves employers being offered to purchase a £58 fake certificate, which suggests they are exempt from auto-enrolment duties
30/06/17
News in brief from the past week.
30/06/17
New EU insolvency regulations may make gaining access to the Pension Protection Fund a lot harder, TLT specialist restructuring and insolvency lawyer Richard Clark takes a look
30/06/17
The planned increases to auto-enrolment contributions in April 2018 and April 2019 could see over half, 52 per cent, of under-30s opting out, Scottish Widows has found
29/06/17
The public’s support for more government spending on pensions has dropped from 76 per cent in 1996 to 55 per cent in 2017, according to the British Social Attitudes Survey
29/06/17
The de-risking market has seen a steady growth in pension schemes undertaking buy-ins as liabilities become “increasingly due”, the Pensions Insurance Corporation has said
29/06/17
The Pensions Regulator’s communications approach has been described as akin to a letter from a water board, where final demands can be sent but do not have “any value”
29/06/17
Pension transfers helped to fuel a 17 per cent increase in money coming out of FTSE 350 defined benefit pension schemes in 2016, Willis Towers Watson has found
29/06/17
Marjorie Ngwenya has now taken on the role of president at the Institute and Faculty of Actuaries
29/06/17
The Co-operative Bank’s pension scheme is to split from the Co-operative Group’s pension scheme as part of deal to raise capital for the Bank
28/06/17
The Pension Protection Fund is “well positioned” for future, anticipated risks, it has said
28/06/17
The pensions industry has welcomed the Financial Conduct Authority’s study on the asset management industry and believe it reflects a change in tone from the regulator
28/06/17
The Financial Conduct Authority has recommended the Department for Work and Pensions removes barriers to pension scheme consolidation and pooling
28/06/17
Women are now expected to retire with an average annual retirement income that is £6,400 less than their male counterparts, Prudential has found
28/06/17
The Pensions Regulator has today, 27 June 2017, published a report on its BHS pension scheme intervention
27/06/17
Members who transfer their defined benefit pot or defined contribution members who opt for drawdown are more at risk of sequence risk, it has been claimed
27/06/17
Former Pensions Minister Ros Altmann has said that net pay schemes could be a future scandal and urged employers to look at the issue
27/06/17
Retirement planning uncertainty and confusion surrounding pensions is “worryingly on the rise”, it has been said
27/06/17
The new government must place the reform of pensions guidance high on their agenda to encourage greater take-up of advice, MetLife has said
27/06/17
Member nominated trustees require much more ‘support and investment’ from sponsoring employers and professional trustees than they are currently receiving, The Pensions Regulator has said
27/06/17
Pension schemes are being urged to factor in the rising longevity of affluent men to their assumptions, as the group has seen its life expectancy rise faster than any other national trend over the last five years
26/06/17
Norton Rose Fulbright senior knowledge lawyer Lesley Harrold talks us through new draft regulations for money laundering, terrorist financing and transfer of funds
26/06/17
The Conservative Party has scrapped plans to end the triple lock on the state pension in 2020, in order to reach an agreement with Northern Ireland’s Democratic Unionist Party (DUP)
26/06/17
The trustee of the Vesuvius Pension Plan has signed a fifth pension insurance buy-in with the Pension Insurance Corporation plc
26/06/17
The Pensions Regulator has revealed it has agreed a £74m settlement for the third pension scheme of thread manufacturer Coats Group Plc, and has now ceased regulatory action against the company
26/06/17
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
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

Reducing DB schemes stress
PMI technical consultant Tim Middleton talks to Laura Blows of Pensions Age about the proposed solutions for stressed DB schemes

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