Latest News
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Guided retirement likely to rely on 'partial information' about savers - PPI
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HMRC launches consultation on GMP conversion tax changes
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Over four in five pension transfer amber flags not linked to high-risk investments
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TPR urged to consider more ambitious and member-centred approach to Corporate Strategy
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Standard Life rebrands institutional investment platform
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M&G to add PruFund range to Scottish Widows Platform
Archive News
The government will pay the minimum employer automatic enrolment (AE) pension contributions for workers hired under its new Kickstart Scheme.
Posted: 8/7/20
The Pensions Administration Standards Association’s (Pasa) cross-industry GMP Equalisation Working Group (GMPEWG) has published guidance on the data required for guaranteed minimum pension (GMP) equalisation.
The guidance looks at all the data aspects of how to conduct a GMP equalisation project and is aimed at helping trustees understand the steps they can take now to get their scheme data ready for equalisation
The guidance looks at all the data aspects of how to conduct a GMP equalisation project and is aimed at helping trustees understand the steps they can take now to get their scheme data ready for equalisation
Posted: 14/7/20
The triple lock could result in state pension spending in 2024/25 being £6bn more than if it was raised in line with CPI inflation, according to figures from the Office for Budget Responsibility (OBR)
Posted: 14/7/20
Freshfields Bruckhaus Deringer (Freshfields) has outlined legal considerations for pension scheme trustees and employers considering a defined benefit superfund transaction
Posted: 14/7/20
The combined deficit of UK defined benefit (DB) pension schemes in the Pension Protection Fund (PPF) 7800 Index fell to £174.8bn at the end of June 2020, down from the £176.3bn reported in May 2020
Posted: 14/7/20
In these troubling times, finance firms continue to go above and beyond to support those in need. Pensions Age takes a closer look at the work being done
Posted: 14/7/20
Society of Pension Professionals (SPP) Defined Contribution Committee chair, Tim Box, discusses whether making some of the temporary regulatory changes permanent would be beneficial for the pensions industry
Posted: 14/7/20
New Financial Conduct Authority (FCA) rules requiring the benchmarking of defined benefit (DB) transfers against a workplace pension may not provide the consumer protection intended, Lane Clark and Peacock (LCP) has warned
Posted: 13/7/20
Premier has outlined six tips for pension schemes to consider when looking at the deficit recovery impact of Covid-19, warning trustees that this will "be quite a challenge"
Posted: 13/7/20
Workplace pension schemes are becoming “increasingly unsustainable” due to the recent fall in government bond yields and low interest rates, according to deVere Group CEO, Nigel Green
Posted: 13/7/20
The Financial Conduct Authority (FCA) has a chance to make free impartial guidance "the new norm" as record numbers are set to become eligible to access pension cash, according to Just Group
Posted: 13/7/20
The Pensions Ombudsman (TPO) has ordered British Airways Health Services (BAHS) to reconsider its decision not to award a New Airways Pension Scheme member and BA pilot ill health retirement benefits
Posted: 13/7/20
Association of Consulting Actuaries (ACA) chair, Patrick Bloomfield, outlines the organisation's policy priorities for his two-year term
Posted: 13/7/20
The Local Government Pension Scheme (LGPS) funding level is estimated to have fallen by over 10 per cent due to the coronavirus crisis, whilst the Social Housing Pension Scheme (SHPS) funding level is estimated to have reduced by around 5 per cent, according to estimations made by Isio
Posted: 10/07/2020
The Pension Protection Fund (PPF) will give levy payers struggling as a result of the coronavirus pandemic up to 90 days interest free to pay their 2020/21 levy bill
Posted: 10/07/2020
The Pensions Infrastructure Platform Limited (PiP) has been acquired, in its entirety, by Foresight Group LLP, following a "competitive process" run by the PiP board
Posted: 10/07/2020
The Welsh government has launched a consultation into amendments for firefighters’ pension schemes that will affect same-sex spouses, civil partners and children of unmarried parents
Posted: 10/07/2020
Samuel Heath, the bathroom accessories specialist, has cut its pension deficit by £0.8m after a decline in liabilities outstripped a reduction in asset values
Posted: 10/7/20
The latest news in brief and mandates from the past seven days
Posted: 10/07/2020
Former Work and Pensions Secretary, Lord Peter Hain, has demanded that the UK government explain its plans to address delays to the pension scheme for Troubles victims.
In a House of Lords (HoL) debate on the Independent Monitoring Authority for the Citizens’ Rights Agreements, Hain stated that there had been a “savage denial” of rights previously enshrined in legislation, namely, pension payments for victims of the Troubles
In a House of Lords (HoL) debate on the Independent Monitoring Authority for the Citizens’ Rights Agreements, Hain stated that there had been a “savage denial” of rights previously enshrined in legislation, namely, pension payments for victims of the Troubles
Posted: 9/07/2020
The majority (83 per cent) of financial advisers think that the lifetime allowance (LTA) should be scrapped due to the complexity of rules and protections, a survey by Curtis Banks has found.
Posted: 9/07/2020
The UK market has "remained resilient" throughout the Covid-19 pandemic, according to Prudential Retirement, who closed over £1.3bn ($1.7bn)-worth of new longevity reinsurance transactions during the first half of the year
Posted: 9/7/20
Unite Union has announced plans for a socially distanced rally at the Nissan Sunderland plant on 11 July, in response to the firms proposals to close its defined benefit (DB) pension scheme for workers at the plant
Posted: 9/07/2020
BT Pension Scheme Management (BTPSM) has appointed Victoria Barron as the scheme's first ever head of sustainable investment.
Posted: 9/07/20
PMI president, Lesley Carline, discusses the importance of communicating with members to raise awareness of pension scams
Posted: 09/07/2020
The number of complaints to The Pensions Ombudsman (TPO) will “undoubtedly” increase due to the impact of Covid-19, according to Pensions Ombudsman, Anthony Arter
Posted: 8/7/20
The average transfer value increased by 5 per cent year-on-year to £290,000 as of March 2020, according to XPS Pensions Group
Posted: 8/7/20
Reach PLC, the publishing house for the Daily Mirror, Daily Express and Daily Star, will resume payment of its pension deficit recovery contributions (DRCs)
Posted: 8/7/20
FirstGroup has reported a "broadly flat" pension deficit, after recording an increase of less than £7m to £313.4m in 2020 (£307.2m in 2019)
Posted: 8/07/2020
Legal & General (L&G) has announced the release of a new pensions portal for the use of 3.7 million defined contribution (DC) scheme members across the UK
Posted: 8/7/20
Unbundled defined contribution (DC) schemes could be a “ticking time bomb for both members and firms” due to a lack of rules and regulations, Salvus Master Trust has warned
Posted: 07/2/20
The UBS UK Pension and Life Assurance Scheme has entered a £1.4bn longevity hedge deal, covering “the majority” of its defined benefit (DB) pensioners
Posted: 7/7/20
Investment firm Killik & Co has seen an increase in enquiries from its clients that are concerned about the stability of their workplace defined benefit (DB) schemes
Posted: 7/7/20
Wednesday's 'economic statement' may pave the way for more significant pension changes, such as to pensions tax relief and the state pension triple lock, in the Autumn Budget, according to Aegon
Posted: 7/7/20
The Pensions Ombudsman (TPO) has upheld a pension overpayment complaint against Devon and Cornwall Police after it failed to implement a pension sharing order (PSO)
Posted: 7/7/20
Andrew Marker has been named as chair of the Star Steering Group, following the departure of founding chair, Tom McPhail, in June
Posted: 7/7/20
The Pensions Dashboards Programme (PDP), part of the Money and Pensions Service (Maps), has launched a consultation on data standards for the pensions dashboards
Posted: 6/7/20
Rising pension deficits and falling international student numbers caused by Covid-19 mean an estimated 13 universities could face insolvency, according to research from the Institute for Fiscal Studies (IFS)
Posted: 6/7/20
Furloughed workers have seen their pension contributions fall by 25 per cent, five per cent more than the 20 per cent wage cut, according to analysis by Now Pensions
Posted: 06/7/20
Rolls-Royce has issued a consultation to its pension members and trustees on whether they would allow the firm to close its defined benefit scheme four years ahead of schedule
Posted: 6/7/20
The Pensions Ombudsman (TPO) has upheld a complaint against Phoenix, after misinformation led to the complainant having a lower Guaranteed Minimum Pension (GMP) recorded than he was entitled to
Posted: 6/7/20
The Universities Superannuation Scheme (USS) has entered a £300m, 45-year debt facility with Residential Secure Income (Resi) to develop shared ownership housing in the UK
Posted: 6/7/20
The cost of the UK’s Brexit bill has increased by €2.05bn (£1.85bn) “overnight” due to a 21 per cent increase in EU officials' pension liabilities, according to the Centre for Brexit Studies
Posted: 3/7/20
The UK defined benefit (DB) pension deficit increased by a further £30bn to £270bn over June, according to figures from PwC’s Skyval Index
Posted: 3/7/20
The Lothian Pension Fund (LPF) Group reported a net return on investments of £300m for the 2019/20 financial year, less than half the return of £658m achieved in 2018/19
Posted: 3/7/20
LV= has announced plans to introduce a new charging structure for pensions taken out from July 2020 in an effort to simplify its fee system following a market review and research with financial advisers
Posted: 3/7/20
The latest news in brief and mandates from the past seven days
Posted: 3/7/20
TPR chief executive, Charles Counsell, discusses the importance of savers continuing to see pensions as a safe investment for retirement amid Covid-19
Posted: 3/7/20
The Centre for Policy Studies (CPS) and ex-Chancellor, Sajid Javid, have urged the government to axe the current marginal rate pension tax system in favour of a flat rate bonus, paid regardless of tax code
Posted: 2/7/20
More than eight in 10 (83 per cent) advisers support reform of the money purchase annual allowance (MPAA) amid the Covid-19 pandemic, according to survey results from AJ Bell
Posted: 2/7/20