pensions age magazine

News 2004 To return to the news list click here
Morris review heavy on criticism The pensions industry has voiced mixed opinions on last month’s Morris Review Interim Assessment Paper, which heavily criticises the UK actuarial profession	20/12/04
IAS more in line with UK’s FRS17 The International Accounting Standards Board has issued some welcome changes to the new international accounting standard IAS19, bringing it more in line with the UK’s standard FRS17	16/12/04
NAPF report says Citizens Pension can work In order to untangle the current knot of State pension provision, the NAPF has produced a report which claims a simple Citizens Pension (CP), worth £105 a week, could be introduced by 2010	06/12/04
Basic State pension still linked to RPI In his pre-Budget speech, Gordon Brown announced that the basic State pension will continue to increase in line with RPI while the means tested Pension Credit will increase in line with earnings	02/12/04
ABI makes case for reforming contracting-out The controversial debate relating to contracting-out has been re-ignited with the launch of a new Occasional Paper from the ABI	02/12/04
Modestly positive returns in Q3 UK pension fund returns were modestly positive in the third quarter, according to recent figures released from performance measurement firm, The WM company	01/12/04
PPF has liability problems Chairman of the Pension Protection Fund, Lawrence Churchill, has admitted at a meeting of the NAPF that the levy on employers is unlikely to be high enough to cover the PPF’s liabilities over the long-term	01/12/04
Marlborough Stirling up “for sale” Marlborough Stirling has announced it will be going up “for sale”, following a longer than expected recovery period and disappointing revenues	01/12/04
Standard Life cuts jobs and commissions Standard Life has announced more than 100 job cuts across the country following an internal restructure for which it has blamed “developments in the UK financial market, particularly in terms of distribution of products”	30/11/04
A-day solutions series launched Actuarial consultancy Punter Southall, in conjunction with its sister companies PSFM, PSolve and HIM, plans to launch a series of “solutions” for A-day	29/11/04
Pensions Act still has some way to go After months of waiting and thousands of hours of debate, the Pensions Bill has become the Pensions Act, gaining Royal assent last month. However, there are still – to quote the poetry of Donald Rumsfeld – a variety of known unknowns yet to deal with	29/11/04
Shariah fund made available to DC members Friends Provident has linked up with HSBC to make the bank’s Shariah fund available to its defined contribution (DC) scheme members	26/11/04
New institutional property fund launched An institutional property fund has been launched by Morley Fund Management, and has already proved popular with long-term investors	25/11/04
Research highlights importance of communication New research from Aon Consulting has laid bare the importance of effective communication when explaining benefits to employees	24/11/04
Companies not prepared for simplification Though time marches on towards 6 April 2006, 80% of businesses responding to a recent survey from Hewitt Associates have said they are not prepared for simplification	17/11/04
Young workers not saving for retirement Confirming the validity of one side of the quadrangle solution to the ‘pensions crisis’ raised by the Pensions Commission interim report last month, new research from Aon has found that more than half of Britain’s young workers are not saving for retirement	17/11/04
Online learning for lacking programmes A number of flexible online learning facilities have been developed in response to research from the DfES, which found financial services training programmes to be lacking	16/11/04
Plans to make PPF retrospective cause upset Plans to make the Pension Protection Fund (PPF) retrospective, which fly in the face of previous announcements, have raised concerns among pension experts who are worried about the cost implications of such a decision	10/11/04
Mandate roundup A review of recent investment, administration and technology outsourcing mandates	10/11/04
Pension Credit report reveals take-up problem The Department for Work and Pensions has again praised the success of Pension Credit while the opposition says take-up is at an all time low	09/11/04
Clerical Medical launches fund of funds Clerical Medical has launched its first fund of funds facility through Insight Investment	08/11/04
Deficits expected to turn by year’s end FTSE 100 overall pension deficits have continued to rise despite recent equity market improvements, but things should improve by year’s-end, according to Aon Consulting	08/11/04
Gissings amalgamates insurance and flex business Consultancy Gissings has drawn together its healthcare, risk and flexible benefits businesses under a single operating entity, ‘Gissings Advisory Services Ltd’ (GASL)	08/11/04
Retirement age should be 65, say manufacturers Most British manufacturers would like to see a retirement age of 65 set by the government when it introduces age discrimination legislation in 2006, according to a survey by manufacturers' organisation EEF and Aon Consulting	06/11/04
Consumers can be manipulated for their own good Product providers and financial advisers can “push people into maximising their welfare”, according to a new study from the Actuarial Profession	05/11/04
Cross-border pension pooling made possible A groundbreaking pension pooling vehicle from Deloitte could provide significant cost savings for multinational companies running numerous pension schemes	01/11/04
SMEs concerned over pension costs More that 50% of small and medium sized enterprises (SMEs) are concerned about the financial burden of future pension provision, according to the results of a recent survey conducted by AXA	29/10/04
Winterthur identifies new HNWI Some 40,000 high net worth (HNW) individuals are currently being under-served by UK advisers, Winterthur Life has claimed	27/10/04
Education of risks and rewards key to boosting investment Educating people on the risks associated with investment products is key to persuading people to invest more, according to a recent survey from the Tillinghast business of Towers Perrin	24/10/04
Pooled funds on upward trend Pooled balanced funds achieved a positive return for the sixth consecutive quarter, with a median return of 1.8%, according to Russell/Mellon’s Pooled Pension Fund Update (Q3 2004	22/10/04
Raising retirement age could open litigation minefield Raising the retirement age in accordance with suggestions from the Pensions Commission could create a minefield of litigation for employers, according to business information firm Croner	20/10/04
Fat cats put on pensions diet Though senior executives still get a better pensions deal than lower level employees, the majority of UK companies that have closed final salary schemes to new entrants have now also closed them to the top echelon, according to consultancy Watson Wyatt	19/10/04
National vote would mean yes to compulsion Half the population would vote yes for making employer and employee contributions compulsory in the event of a national referendum, according to research from AXA	18/10/04
Final go-ahead for Personal Finance Society The merger of SOFA and LIA, to form the Personal Finance Society, has been given the final go-ahead after SOFA members voted in favour of the plan at the organisation’s EGM in London on 15 October	16/10/04
Conservatives make for angry pen pals The shadow Chancellor, Oliver Letwin, and the shadow work and pensions secretary, David Willetts have written to Gordon Brown and Alan Johnson to clarify the strategic direction of the government’s pensions policy	16/10/04
No industry plans for over 50s recruitment Despite notions of increased working life and phased retirement options, UK businesses are reluctant to employ older people, according to recruitment company Spring Personnel	15/10/04
Pensions law firms announce merger Pensions law firms Pinsents and Masons are set to merge in December forming ‘Pinsent Masons’, which will represent an estimated annual turnover of £150 million	15/10/04
Multi-employer schemes could be the future Multi-employer schemes could very well be the future of pensions and provide an ideal solution to many of the problems of pension provision, according to The Pensions Trust	15/10/04
Index linked bonds key to real value protection Despite the current environment of low inflation, pension schemes must protect the real value of their investment portfolios, warns Baring Asset Management	14/10/04
Cash most likely alternative over Lifetime Allowance Employees expected to suffer a tax charge post-April 2006 under the new Lifetime Allowance rules will most likely be offered cash as the main alternative to pension, according to consultancy Watson Wyatt	13/10/04
Investment Solutions opens door to property Manager of manager, Investment Solutions, has launched an institutional property fund in response to increased client demand for the asset class	12/10/04
Pensions Commission paints a bleak future The Pensions Commission’s long awaited first report was published today amid a flurry of negative press about the bleak future of retirement provision	12/10/04
Scottish Life takes managed funds to new level Scottish Life is implementing time and risk grading into its range of managed funds, which will allow advisers to match asset allocation with policyholders' changing risk appetite over time	05/10/04
Baillie Gifford gets personal Baillie Gifford is entering the personal pension market for the first time with the launch of a competitively priced personal pension product	04/10/04
Opra calls for industry feedback on trustee knowledge Opra is calling on the industry to help them define what trustees need to know in order to carry out their roles in the most effective way	01/10/04
Tax relief figures overblown by £3 billion The Office for National Statistics (ONS) has released figures showing that tax relief for all UK pension schemes has been overstated by approximately £3 billion a year since 1999	30/09/04
Company chiefs group calls for Pan-European pension The European Union should create a pan-European pension regime that can exist alongside existing structures rather than embedding new rules in the national structures of all member states, according to the European Financial Services Round Table	30/09/04
Finance Directors scuppering company DC schemes In a move to reduce company pension costs, finance directors have taken control of defined contribution scheme finances and in many cases attempt to impose strict limits on the number of employees able to join, according to new research from the Pensions Institute	30/09/04
Get heads out of sand says work and pensions minister The current pensions challenge could become a pensions crisis in 15 to 20 years if we fail to address the prospect of fewer people in work supporting more people in retirement, said new secretary of state for work and pensions Alan Johnson in his speech at the Labour Party conference in Brighton	29/09/04
KPMG to appeal High Court ruling Following a High Court ruling in July which decided that KPMG’s pre-2000 pension fund should be operated as a defined benefit scheme, the firm has announced that it will appeal against the decision	28/09/04
West not the best for earlier retirement Workers in Eastern Europe have more time to lie back with a nice cup of tea in retirement than their counterparts in the West, according to research from Mercer Human Resource Consulting	28/09/04
Public confirms ABI calls for state pension reform Reform of Britain’s state pension and benefits system would motivate more people to invest their own money in pension savings, according to the latest Pensions and Savings Index from the Association of British Insurers	27/09/04
Investment managers driving forward transparency Investment managers, rather than pension funds, are responsible for driving forward transparency on transaction costs, according to new research from Instinet Europe	27/09/04
Standard Life Investments to launch liability driven unit Standard Life Investments has announced the creation of a “Strategic Solutions Unit” (SSU) focusing on liability driven and capital efficient investment solutions for institutional investors	27/09/04
A-day guide from Bee A detailed guide, which provides a framework for discussions between advisers and their clients in the run-up to A-day, has been produced by pensions provider Scottish Life	16/09/04
Lib Dem reforms could put pressure on businesses The Liberal Democrats' plans for reforming pension provision, which include fairer terms for women and establishing a kitemark system for occupational pensions, have been met with mixed response from the industry	13/09/04
Pension schemes not so short-termist apparently Despite fund managers' claims that pension schemes are too short-termist when it comes to manager selection, a new study by the NAPF and the Investment Management Association (IMA) has found that most fund managers retain mandates for over five years	13/09/04
Norwich Union offers more Norwich Union has significantly boosted its pensions investment offering with the addition of 21 new funds, which will bring its current offering to in excess of 50 funds	13/09/04
Deadline closes for Morris Review Actuaries would be willing to compete if others could acquire the appropriate skills and expertise in the post-Morris era, The Actuarial Profession has stated	10/09/04
PPI adds voice to State Pension debate The Pensions Policy Institute (PPI) has called on government to begin the process of reforming State Pension provision, pointing out that unwinding the current means-testing policy is a complex process that should be done "sooner rather than later"	09/09/04
Smith's replacement appointed Following the surprise departure of Andrew Smith on 6 September, Alan Johnson has been appointed to replace him in the role of secretary of state for work and pensions	09/09/04
Directors continue "supping the pensions cream" Despite calls last year from the CBI for bosses to "set a good example", the heads of UK companies are receiving pensions worth up to 50 times more than most of their staff, according to the TUC's PensionsWatch report	07/09/04
Andrew Smith quits government Secretary of state for work and pensions Andrew Smith resigned from the government Monday evening, citing his reasons in a letter to the Prime Minister as wanting to devote more time to his constituency and family	07/09/04
Small DB schemes to face significant funding difficulties Defined Benefit pension schemes with less than 50 members are potentially at risk of significant funding difficulties resulting from the Finance Act 2004, Independent Trustee Services has cautioned	06/09/04
Clerical clarifies money laundering requirements Clerical Medical has developed a dedicated area on its IFA website to provide information and support on money laundering requirements for financial advisers	06/09/04
Majedie reaches three quarters of a billion mark Majedie Asset Management has announced that it has reached £750 million of assets under management since its launch in January 2003	06/09/04
Pension petition goes online The Pensions Action Group, which campaigns for the restoration of pensions lost through scheme wind-ups, has started an online petition	04/09/04
SBJ acquires Miller Financial Services Insurance and consulting group SBJ Group Limited has acquired the business of Miller Financial Services Limited for an undisclosed sum	03/09/04
ABI tenders for independent monitoring company The Association of British Insurers has announced that it will tender for an independent monitoring company to enable it to continue the monitoring of investment classifications for life and pension funds	02/09/04
FSA cracks down on firms not meeting requirements Work by the Financial Services Authority (FSA) over the past year has resulted in more than 100 firms making remedial changes to the way they operate to address serious failings	02/09/04
Public not so certain about compulsion The public loses interest in compulsory pension contributions once they realise the potential effect on their salary or wages, according to new research from the Association of British Insurers	31/08/04
Standard Life re-enters Sec 32 Buyout market Standard Life has launched a new Section 32 Buy-out policy aimed at deferred members of money purchase occupational pension schemes and existing Section 32 Buy-out policyholders	27/08/04
Government aims to boost financial service skills A new government-funded organisation is being set up to help ensure an appropriately well-qualified and trained workforce for the financial services sector	27/08/04
Winterthur increases MM offering Three new Credit Suisse Asset Management (CSAM) multi-manager funds have been added to Winterthur Life's Tailored Selection range of investment funds	25/08/04
Clerical Medical launches drawdown tool Clerical Medical has launched an updated version of its income drawdown proposition aimed at financial advisers and their clients	24/08/04
DC schemes failing to offer ill health-income protection Less than 50% of DC schemes offer income protection for employees who retire early due to ill health, according to a survey involving over 1,800 UK pension schemes	24/08/04
Schemes warned of unexpected cost increases Employers and trustees could face increased scheme liabilities or unexpected tax bills if they are not fully prepared for the arrival of the 2006 Finance Act, consultancy firm Hewitt Bacon & Woodrow has warned	23/08/04
JLT on the move The Jardine Lloyd Thompson Group (JLT) has acquired the principal assets of Profund Systems through a newly established subsidiary, Profund Solutions Limited	23/08/04
Oil affecting bond predictability The current strength of oil is making the future of bond returns hard to predict, according to AXA Investment Manager's head of fixed income, Denis Gould	23/08/04
Gartmore re-signs with Marlborough Stirling Gartmore Investment Management has signed a new two year contract with Marlborough Stirling regarding the outsourcing of its pension administration	20/08/04
New exchange offering for ex-pats Foreign exchange specialist Currency UK has launched a facility to transfer regular sterling payments, such as pensions and mortgages, to foreign currency accounts	19/08/04
Sandler suite won't plug the gap The Sandler suite of simplified pensions and investment products will fail to plug the alleged £27 billion savings gap, according to market analyst Datamonitor	18/08/04
FDs fail to tackle pension risk Companies are failing to adequately tackle the risks associated with their pension schemes, according to a recent survey carried out by professional services firm Deloitte and Financial Director magazine	17/08/04
LIA and SOFA propose board The planned merger between the Life Insurance Association (LIA) and the Society of Financial Advisers (SOFA) has entered a new stage of development with the announcement of the proposed merged company board	16/08/04
New pensions website launched A new website has been launched aimed at providing relevant information and support to IFAs on matters relating to the SIPP and SSAS market as well as more general pension issues	16/08/04
State Street appointed by Warwickshire Warwickshire County Council has appointed State Street Global Advisers (SSgA) to run a £105m active UK equity mandate	16/08/04
Amex enhances wrap with SIPP A new Self Invested Personal Pension (SIPP) has been launched by American Express Financial Services Europe Limited as part of its wrap account offering for financial advisers, launched earlier this year	13/08/04
Companies say keep retirement age at 65 Though the CBI may be in favour of raising the retirement age from 65 to 70 by 2030, business information and advice company Croner says a majority of firms disagree	13/08/04
Public sector pension liabilities nearing £600 billion Unfunded public sector pension liabilities stand at approximately £580 billion, according to calculations from consultants Watson Wyatt	10/08/04
Punter Southall boosts offerings Consulting actuaries Punter Southall & Co has opened a pensions consultancy office in Glasgow	10/08/04
Small increase equals big loss Six out of ten manufacturers believe pension schemes will be unaffordable if employer contributions increase by as little as 3-4%, according to new research from consultancy RSM Robson Rhodes	29/07/04
Trust a must, despite new regulation The majority of pensions and insurance companies believe that new regulation such as depolarisation and Sandler will have minimal impact on their business, according to a recent study by IDL Research	28/07/04
Online A-day learning for IFAs A new section aimed at supporting independent financial advisers in the run-up to A-day has been added to the Scottish Life website	28/07/04
Japan's the one to watch Despite the short-term fluctuations in Japan's economy, the fundamentals that have underpinned recent economic progress will continue to drive long-term growth, according to Merrill Lynch Investment Managers (MLIM)	28/07/04
Time to get people saving again The Treasury Select Committee's report on restoring confidence in long-term savings concluded that the efficient working of the long-term savings market is vital for the prosperity of savers and the wider economy	27/07/04
CSAM predicts strong property returns Commercial property looks set to maintain strong performance with returns remaining stable and consistent, according to Credit Suisse Asset Management (CSAM)	26/07/04
DB trend breaking says Watson Wyatt Despite the trend of closing final salary schemes to new employees, a "hard core" of employers look set to keep their schemes open, according to consultants Watson Wyatt	22/07/04
Willetts attempts to close the gap In an effort close the ever widening savings gap, David Willetts, shadow secretary of state for work and pensions, has launched a government-backed saving product dubbed the Lifetime Savings Account (LiSA)	22/07/04
Pension Credit's great, but what is it? Thanks to the Pension Credit, 1.83 million pensioner households are getting more money than was the case under the old Minimum Income Guarantee (MIG) system, according to a report from the DWP	22/07/04
No-one is saving, it would seem Not that it's much of a surprise, but new research from Accenture HR Services has found that many Britons are not saving for retirement	22/07/04
Report shows progress since Myners but more needed Three years on and the Department for Work and Pensions has published its report on the extent to which pension trustees have implemented the Myners Principles	21/07/04
CBI outlines route to reform A 22-point action plan aimed at tackling the shortfalls in today's pensions system has been launched by the CBI	19/07/04
B&CE launches new set of tools B&CE Benefit Schemes, the not-for-profit provider of employee benefits to the construction industry, has launched a nationwide employee presentation programme	18/07/04
NAB closes UK custody arm National Australia Bank is closing its UK custodian operation, National Custodian Services (NCS) UK, due to increasing cost pressures, and will be transferring its existing UK clients to The Bank of New York (subject to client approval)	14/07/04
Pension funds spice it up Institutional investors around the world are increasing their exposure to alternatives, with hedge funds and property the most popular new assets, according to a recent survey conducted by Watson Wyatt and Global Investor magazine	09/07/04
UK pension income set to boom UK life and pensions premium income is set to increase by more than 40% in the next four years to approximately £75bn, according to a new report from independent market analyst, Datamonitor	07/07/04
Majority of new trustees in the dark Eighty-five per cent of trustees have little idea of what they are letting themselves in for when appointed, revealed a recent survey from the Pensions Managament Institute	05/07/04
ISIS and F&C announce merger ISIS (which is owned by financial service company Friends Provident) and F&C have announced that they are to merge in a move that will create the fourth largest asset manager in the UK	02/07/04
Pension surveys on their way The Occupational Pensions Regulatory Authority (Opra) has warned companies that time is running out to have minimal legal pension provision in place	29/06/04
Mandate Round Up Some of the bigger mandates awarded in June	29/06/04
Great State of affairs State Street Global Advisors (SSgA) increased its UK assets under management by 85% during the 12-month period ending March 31, 2004	29/06/04
Employers urged to make more of an impact Companies are being urged by the government and the wider pensions industry to get more involved in the process of pension provision and advice, with the launch of a new Pensions Information Pack aimed at employers and employees	29/06/04
DB closure enters phase two Not content with denying entry to defined benefit schemes for new hires, companies are now moving into a 'second stage' of final salary scheme closure which will see pensions arrangements changed for existing employees as well, according to research from Towers Perrin	28/06/04
Sir Derek seeks feedback for actuarial review A consultation document has been published by Sir Derek Morris as part of his review of the actuarial profession which he is conducting on behalf of the government	28/06/04
Local authority pension woes Local authority funds across the UK are feeling the effects of underfunding, according to recent research by asset management provider, SEI Investments	26/06/04
Property investment opportunity Insight Investment is launching a listed property investment company, Insight Foundation Property Trust Limited	25/06/04
New SIPP plans launched Two new SIPP plans, suitable for retirement funds of £100,000 or more, are on offer from pensioneer trustee firms D A Phillips & Co and Hornbuckle Mitchell Trustees	24/06/04
First steps towards new state pension A new working group has been set up by the NAPF to look into the practicalities of implementing a new, simplified "Citizen's Pension", which would replace the current complex state pension system	24/06/04
IFA awareness of wrap products sees significant growth The UK is Europe's fastest developing market for wrap accounts, according to a report from independent market analyst Datamonitor (DTM.L)	23/06/04
Standard Life begins demutualisation project The Board of Standard Life has announced that John Hylands, the group finance director, will lead the project to demutualise the company	21/06/04
Pensions landscape not so bleak, says Aon Though headlines tend to proffer a much bleaker view, the majority of the UK's top companies' pension funds are not underfunded to a point where they threaten the sponsoring employer, according to new research from a leading consultancy firm	21/06/04
Mixed response for stakeholder cap rise The controversial 1% cap on pension products has been raised this week to 1.5% in a decision that has sparked mixed reactions from the pensions industry	18/06/04
Zurich IFA goes live with UNIPASS Zurich IFA Group has followed in the footsteps of numerous other UK life companies (including Friends Provident, Prudential and Scottish Widows) by signing up to the UNIPASS service, currently being used by more than 12,000 IFAs	17/06/04
Brown urged not to raise stakeholder cap The controversial 1% cap on pension products has been raised this week to 1.5% in a decision that has sparked mixed reactions from the pensions industry	16/06/04
Industry urged to pull together to secure future A long-term agenda of improvement for the UK investment system was put forward this morning in an effort to restore the lack of trust prevalent in the industry today	15/06/04
Directors say no to post-A-day cash alternatives Most company directors would prefer to keep their existing final salary pension rather than switching to a defined contribution or cash alternative after 6 April 2006 (A-day), according to research from actuarial and consultancy firm Lane Clark and Peacock	15/06/04
New tool for enhanced annuities Dunstan Thomas has launched a tool to assist annuity providers calculate bespoke, enhanced annuity rates based on health and lifestyle factors	11/06/04
Pensions Bill could cost companies £400m plus The Pensions Bill could cost companies an extra £400m a year or more despite government estimates calculating a savings of £80m, according to Watson Wyatt	10/06/04
Royal London plans face-to-face sales closure Life and pensions company Royal London may be closing its face-to-face sales operation for economic reasons, creating in the region of 400 redundancies across the country	09/06/04
Government reform could scupper provision, say small firms Government reforms designed to boost occupational pensions are more likely to discourage provision as well as add to employers' costs, according to a recent survey of small firms by the Association of Consulting Actuaries (ACA)	20/05/04
Stakeholder figures fuel compulsion debate The TUC is calling on the government to introduce compulsion after research revealed that stakeholder pensions are failing to encourage workers to save enough for retirement	20/05/04
PPML sells to Capita SIPP administrator and Winterthur Life UK subsidiary, Personal Pension Management Limited (PPML), is to be sold to The Capita Group as soon as regulatory approval has been granted	19/05/04
Small steps taken, but further to go The government has finally responded to industry demands and agreed to set up a £400m pensions rescue package for 1000s of employees who have lost part or all of their pension savings following company closures	18/05/04
T-Mobile chooses Mercer T-Mobile has appointed Mercer Human Resource Consulting to provide actuarial consulting services for its UK pension arrangements	18/05/04
Pension funds to try something new The number of UK pension schemes investing in alternative asset classes looks set to increase significantly over the next year, according to a recent asset allocation study conducted by Mercer	17/05/04
PPF chairman named The name of the first chairman of the Pension Protection Fund was revealed last week by the Secretary of State for Work and Pensions	17/05/04
Mandate announcements State Street Global Advisors, the investment management arm of State Street Corporation has been selected by Devon County Council to manage a £250m global passive equity mandate	17/05/04
MGM Assurance aims to offer best of breed MGM Assurance has appointed four investment management groups to take responsibility for most of its £1.4bn of funds under management, following a review of its previous investment management arrangements	17/05/04
Helping IFAs log-on with ease The Exchange, which supplies portal services to tens of 1000s of IFAs, has signed up to UNIPASS, Origo's individual digital certificate that replaces the need for multiple user IDs and passwords to access provider and portal websites	17/05/04
Cheaper access to US market UK institutions investing in US equities can benefit from lower costs and tax breaks following the launch of the the Deutsche GlobalSpectrum Common Contractual Fund	17/05/04
Considering a compromise? Not so fast, says Opra Help is at hand for trustees, actuaries and other advisors who may be considering a compromise agreement for their underfunded defined benefit scheme.	17/05/04
State Street expands operations following European deal State Street has been appointed to provide fund administration and investment operation services to ABN AMRO Asset Management (AAAM) in the UK, Netherlands, Luxembourg and Sweden	14/05/04
Mandate wins and appointment round-up Global consultancy, EC Harris LLP, has appointed Lane Clark & Peacock LLP (LCP) to provide actuarial, investment and pension administration services to the group’s closed DB scheme	10/05/04
ISIS enhances fund range ISIS Asset Management has boosted its institutional fund offering with the launch of four new pooled pension funds	04/05/04
Outsourcing gets thumbs up Outsourcing pensions and benefits has become a popular choice among large US and European companies, according to a recent report conducted by The Conference Board and Accenture	04/05/04
Equity release A new outsourcing service has been launched by Marlborough Stirling, aimed at encouraging new entrants into the equity release market	30/04/04
ACA chairman expresses alarm at emerging regime The emerging new pension regime is looking increasingly hostile towards encouraging wider pension provision because of a lack of incentives, according to Gordon Pollock, chairman of the Association of Consulting Actuaries	30/04/04
Trusting MoM The trustees of the Monarch Airlines Limited Retirement Benefits Plan have selected Northern Trust to run a £60m manager-of-managers mandate, with an investment brief covering the UK, Europe ex-UK, Pacific ex-Japan and Japanese equities	28/04/04
A safety net for DB transfers Employees who transfer from the public to private sector, under TUPE agreements, afraid of losing their final salary or defined benefit pensions, can now take advantage of a new pension scheme designed by Prudential	28/04/04
Keeping in line A new project aimed at establishing a set of benchmarked standards to promote good compliance in the financial services sector has been launched by the International Compliance Association in conjunction with the Financial Services Skills Council	28/04/04
Property demand could scupper high returns The property sector is continuing to enjoy strong returns and low volatility over a variety of time periods, according to the latest property update from Credit Suisse Asset Management	27/04/04
Online rewards all round Online total reward statements – which incorporate all benefits such as pensions, healthcare, share plans and life insurance – could help retain staff, according to a recent study conducted by Mercer	27/04/04
MLIM offers FoF property option Merrill Lynch Investment Managers’ (MLIM’s) real estate team is launching a property fund of funds aimed at those investors looking to diversify their commercial property allocations	26/04/04
Fairer distribution of pension assets a welcome move Legislation aimed at ensuring a fairer distribution of assets upon scheme wind-up has, on the whole, been welcomed by the pensions industry	19/04/04
First Islamic pension fund launched The first Islamic pension fund has been launched, aimed at offering Muslims access to pension investment where they may otherwise have been excluded	13/04/04
TUC to hold London pensions demonstration The Trade Unions Congress (TUC) has announced that it will be holding a ‘Pay up for Pensions’ demonstration in London on 19 June	07/04/04
CR reporting placing 'alarming burden' on listed companies A new industry survey has revealed that current methods of corporate responsibility (CR) reporting are placing an “alarming burden” on listed companies and their investors, and an industry-wide committee will be formed to address the situation	06/04/04
'Real terms' DC statements could result in backlash New government regulations which require companies to issue individual statements in ‘real terms’ to members of money purchase schemes could result in a potential backlash if companies do not manage employees’ expectations before the statements are introduced, according to Mercer Human Resource Consulting	05/04/04
DTI publishes proposals for Civil Partnership Bill Proposals providing legal status for same-sex couples have been published by the Department for Trade and Industry	04/04/04
End of LPI in DC met with mixed reaction Pensions minister Malcolm Wicks announced that the government was contemplating the removal of Limited Price Indexation (LPI) from defined contribution (DC) pension schemes at an Institute of Economic Affairs conference last month	01/04/04
Simplification is here - well, 2006 anyway Gordon Brown's much anticipated budget speech has revealed that not only will a pint of lager go up a penny, but pensions simplification will go through, the lifetime limit will be set at £1.5 million and A-day is now further away day - pushed back to April 2006	17/03/04
Industry urges Gordon Brown to "get on with simplification" In light of the findings of the National Audit Office (NAO), leading pension industry players are urging Gordon Brown to press ahead with pensions simplification when he delivers his budget on 17 March	16/03/04
Industry experts voice Pensions Act concerns The government's Pensions Act was under heavy critical assessment by attendees of the Pensions Management Institute (PMI) spring conference, Pensions Revolutions!, which brought together managers of some of the biggest pension schemes in the UK	15/03/04
A clearer perspective from the Pru Prudential has been accredited for the third successive year under the Raising Standards quality mark scheme	10/03/04
Property opportunity in Liverpool Private investors, SIPPs and SASSs are being invited to invest in Close Property Investment’s Fixed Uplift Properties Plc which is anticipating capital growth of circa 10-12% per annum over six years	10/03/04
Sorting the good from the bad Investors wishing to assess the corporate governance risks of a company will soon have a new set of indices to refer to, following a collaboration between global index provider FTSE Group and Institutional Shareholding Services (ISS)	10/03/04
NAO reports back on £1.4m lifetime limit Government estimates of the numbers likely to be affected by the proposed £1.4m lifetime allowance are on the low side although not unreasonable, according to the much anticipated National Audit Office (NAO) report released today	09/03/04
Government seizes on Penrose report to deny redress Hopes for those who suffered losses at the hands of Equitable Life have been dashed, following the publication of Lord Penrose’s report into the scandal	08/03/04
Treasury proposals create potential for poor advice Company employees could face increased pension mis-selling while IFAs could see an influx of competition if proposals relating to financial advice are implemented, it has been argued	08/03/04
DWP boosts incentives for state pension deferral Government incentives aimed at encouraging individuals to defer claiming their state pension in return for a lump sum have been fleshed out in the last month	04/03/04
Directors reap benefits while employees suffer Directors of the UK’s top 100 companies are pumping millions into their own pensions while staff final salary schemes are being cut and contributions to staff money purchase schemes are too low, according to the TUC’s latest PensionsWatch report	04/03/04
After much waiting, the Pensions Bill has arrived Details of how the controversial Pensions Protection Fund (PPF) would be funded were finally unveiled this month with the publication of the long overdue Pensions Bill	12/02/04
Employers not communicating pension arrangements Despite the increasing need for better communications between employers and employees over pension arrangements, a new survey has found that this communication is overwhelmingly lacking	09/02/04
Myners gets the industries vote Electronic voting and full disclosure of voting results were just two of the welcome proposals put forward in Paul Myners’ recent review of the UK’s proxy voting system	04/02/04
Education is crucial, but not enough Compulsory “opt-out” occupational schemes, information packs for employers and personal finance education in schools were just some of the proposals put forward in a new government document this week which aims to encourage people to save more towards retirement	03/02/04
Increased life expectancy means increased liabilities Aon Consulting has estimated that continued improvements in life expectancy may have increased FTSE 100 companies' liabilities by as much as £10 billion over the past three years	02/02/04
Friends Provident record year Life insurer Friends Provident saw a record increase in its new business sales over 2003 with new group pensions sales one of the major highlights, according to results released today	30/01/04
New pensions administration system launched Pensions software company, Claybrook, has unveiled its new pensions administration system, Compendia	30/01/04
Bond duration anomaly could lead to scheme deficit New research from AXA Investment Managers, focusing on strategies designed to match pension scheme's liabilities, has revealed an anomaly which could lead to scheme deficit	29/01/04
DB schemes threaten company projections Eighteen per cent of finance directors (FDs) are concerned about the negative impact defined benefit (DB) schemes are having on the financial strength of their companies, according to a survey by Prudential	28/01/04
Clerical returns to group pension market Clerical Medical quietly re-entered the commission based group pension market at the beginning of January, formally announcing their re-entry today	28/01/04
Acquisition alters annuity broking landscape The Bureaux Limited (which incorporates The Annuity Bureau, The Drawdown Bureau, The Care Funding Bureau and The Investors Bureau) has been acquired by corporate pension IFA Alexander Forbes Financial Services (AFFS) in a move which, argues AFFS, puts it in a leading position in the annuity broking market	27/01/04
Insurers abandon trustee liability market The number of insurers underwriting Pension Trustees' Liability (PTL) has halved because it is regarded as such a “hazardous” area, according to a report by independent insurance broker, Heath Lambert Group	26/01/04
Socially responsible investment practices on the rise The number of pension funds building social and environmental issues into their investment practices has been increasing, with the trend set to continue strongly in the next few years, according to new research from Ashridge and Just Pensions	26/01/04
More trustee guidance from Opra The Occupational Pensions Regulatory Authority (Opra) has published new guidance for trustees on reporting late payments of pension contributions	26/01/04
Pooled pensions claw back losses Pooled pension funds saw a median return of more than 18% last year which represents the first positive year performance since the late 90's, according to the Russell/Mellon CAPS Pooled Pension Fund Update 2003	23/01/04
Pain and gain to A-Day and beyond Although recognising that the run up to A-Day will be hectic and complex, a majority of pension professionals are in favour of the Revenue's proposed tax simplification, according to research by Hewitt Bacon & Woodrow	22/01/04
Falling bonds yields take toll on deficits Last year's rise in equities may not necessarily spell good news for FRS17 pension shortfalls because of a fall in corporate bond yields over the same period, consultants Lane Clark & Peacock LLP (LCP) has warned	21/01/04
Skandia targets Section 32 buyouts An new Section 32 Buyout product is being launched later this year by financial services group, Skandia, as an extension to its existing single price pension range	20/01/04
Aon to take on Kellogg's admin Aon Consulting has been appointed to replace Watson Wyatt as administrator of the Kellogg's (Great Britain) pension scheme	20/01/04
Annuity rates show decline slowdown in 2003 Annuity rates, which have been in a general downward spiral for the last 10 years, have shown a significant slow down in decline during 2003, according to Investment, Life & Pensions Moneyfacts' (ILPM) annual annuity review	20/01/04
Asset boost doesn't alter deficit Although growth of total institutional pension fund assets of the 11 major global markets has been in excess of 12%, the overall FRS17 deficit for UK pension funds is little changed from a year ago, according to Watson Wyatt	20/01/04
MLIM calls for increased allocation to property Following its analysis of the risk, return and diversification characteristics of property, Merrill Lynch Investment Managers' (MLIM) Strategic Advice Service has concluded that the asset class is being under-represented in UK pension fund investment strategies	19/01/04
European private equity suffers 2003 nosedive Fundraising in European private equity fell steeply in 2003, demonstrating the toughest market since the 2000 peak, according to provisional figures from private equity placement and research company Almeida Capital	16/01/04
Fund returns accelerate in 2003 UK pension funds saw returns of 16.8% over the course of 2003, according to a recent survey from the WM Company, which represents the first positive performance since 1999	08/01/04
MP calls for annuity reform Annuities were under the spotlight again today as Conservative MP, Adrian Flook, launched his Private Members Bill – The Retirement Income Reform Bill, which aims to amend the law relating to the purchase of annuities in respect of private and personal pensions	07/01/04
The Exchange and Synaptic form alliance IFA service provider, the Exchange, has joined forces with Synaptic Systems in an alliance that aims to bring business benefits to intermediary customers of both companies	07/01/04
New research highlights pension fund fears Although the financial climate is arguably improving, one in five of the UK's largest companies are concerned about the ability of their Defined Benefit (DB) pension schemes to meet future payments to retired staff, according to new research from Prudential UK	06/01/04
CSAM launches new property fund Credit Suisse Asset Management (CSAM) has introduced a new unit property trust open to pension funds, life companies, charities and high net worth individuals	06/01/04
Managing benefits online A new online employee benefits platform has been launched by Scottish Life designed to help SMEs improve the administration and communication of the benefits they offer	05/01/04
NAPF launches corporate governance guide The National Association of Pension Funds (NAPF) has published a new guide on corporate governance to clarify the rights and responsibilities of shareholders and company directors	05/01/04
Pickering and Higgs reap rewards Alan Pickering, partner at Watson Wyatt, has received a CBE in the New Year's Honours list for services to occupational pension schemes	03/01/04