DB and DC corporate pensions news and more http://www.pensionsage.com/ The International Accounting Standards Board has announced that it will be looking to remove the ability to defer the recognition of gains and losses on company balance sheets http://www.pensionsage.com/pa/Corridor-accounting-removal-fears-confirmed.php http://www.pensionsage.com/pa/Corridor-accounting-removal-fears-confirmed.php The National Association of Pension Funds (NAPF) has published the latest guide on asset pooling. 'Asset Pooling Made Simple' aims to help pension funds looking for better returns on investments through asset pooling http://www.pensionsage.com/pa/NAPF-produces-new-asset-pooling-guide.php http://www.pensionsage.com/pa/NAPF-produces-new-asset-pooling-guide.php The National Association of Pension Funds (NAPF) has announced that it will lead a major review of pension accounting standards, beginning with a summit on the subject that will take place in the coming months. Lindsay Tomlinson, chairman of the NAPF, revealed the organisation’s plans at the NAPF’s investment conference currently underway in Edinburgh. Tomlinson told delegates that the pensions industry needs to move forward from the “currently unsatisfactory” standard, set down by the Accounting Standards Board (ASB), FRS17 http://www.pensionsage.com/pa/NAPF-to-tackle-accounting-standards.php http://www.pensionsage.com/pa/NAPF-to-tackle-accounting-standards.php The Pension Protection Fund (PPF) has released a new statement of investment principles (SIP), which sets out its aim to significantly alter its diversification strategies http://www.pensionsage.com/pa/PPF-reveals-hedged-bets-in-new-SIP.php http://www.pensionsage.com/pa/PPF-reveals-hedged-bets-in-new-SIP.php Workplace pensions can be saved in just six steps says the National Association of Pension Funds’ (NAPF) Investment Council Chairman, Ray Martin http://www.pensionsage.com/pa/NAPF-recommends-six-steps-to-success.php http://www.pensionsage.com/pa/NAPF-recommends-six-steps-to-success.php Following Mercer’s concerns that changes to the IAS 19 company accounting standards for employee benefits would significantly alter asset allocation decisions, Hewitt Associates has said that the new proposals for the standard could increase reported pension costs http://www.pensionsage.com/pa/IAS-19-changes-could-also-increase-reported-costs.php http://www.pensionsage.com/pa/IAS-19-changes-could-also-increase-reported-costs.php The Pension Protection Fund (PPF) has revealed that the aggregate funding position of defined benefit (DB) funds in its universe has improved to a deficit of £15.1bn at end February 2010, a huge improvement from end January’s results of a deficit of £51.9bn http://www.pensionsage.com/pa/Aggregate-funding-position-improves-by-35bn-says-PPF.php http://www.pensionsage.com/pa/Aggregate-funding-position-improves-by-35bn-says-PPF.php The UK is leading the way in implementing innovative risk management solutions for the key issues in the defined benefit (DB) pension schemes, according to Aon Consulting http://www.pensionsage.com/pa/UK-on-top-of-risk-management-solutions.php http://www.pensionsage.com/pa/UK-on-top-of-risk-management-solutions.php Refining investment funds to improve future performance and simplifying the way they are presented to members is the key to better levels of defined contribution (DC) engagement, says Brian Henderson, senior investment consultant at Mercer http://www.pensionsage.com/pa/Funds-need-to-be-refined-and-simplified-to-attract-DC-members.php http://www.pensionsage.com/pa/Funds-need-to-be-refined-and-simplified-to-attract-DC-members.php Changes to the international accounting standards (IAS 19) could change asset allocations and lead to lower risk investment strategies for pension plans, warns Mercer http://www.pensionsage.com/pa/IAS-19-could-change-pension-investment-attitude.php http://www.pensionsage.com/pa/IAS-19-could-change-pension-investment-attitude.php Just thirty-four per cent of employees believe their pension will be sufficient for retirement, according to the National Association of Pension Funds (NAPF) http://www.pensionsage.com/pa/Fears-remain-at-sufficiency-of-pensions-for-retirement-income.php http://www.pensionsage.com/pa/Fears-remain-at-sufficiency-of-pensions-for-retirement-income.php Socially responsible investing (SRI) can boost pension fund portfolios, rather than be to their detriment, according to investment managers at a Newton Investment London roundtable today (8 March 2010) http://www.pensionsage.com/pa/Responsible-investment-can-boost-portfolios.php http://www.pensionsage.com/pa/Responsible-investment-can-boost-portfolios.php Should Mervyn King, governor of the Bank of England, follow through with his proposal to restart the emergency quantitative easing programme due to weakness in the eurozone, scheme deficits could suffer further, warns Aon Consulting http://www.pensionsage.com/pa/QE-ark-clouds-on-the-horizon-for-DB-schemes.php http://www.pensionsage.com/pa/QE-ark-clouds-on-the-horizon-for-DB-schemes.php The Conservative party has voted against auto-enrolment in the House of Commons in what Nigel Waterson, Conservative Shadow pensions minister, has labelled a “protest” against the Government’s “flawed system of implementation” http://www.pensionsage.com/pa/Tories-play-hardball-over-auto-enrolment.php http://www.pensionsage.com/pa/Tories-play-hardball-over-auto-enrolment.php The PPF should consult on ending its practice of automatically increasing compensation payments, says Mercer http://www.pensionsage.com/pa/PPF-should-haveend-and-reduction-options-for-compensation-payments.php http://www.pensionsage.com/pa/PPF-should-haveend-and-reduction-options-for-compensation-payments.php In a not-so-surprising announcement, the Personal Accounts Delivery Authority (PADA) has named Tata Consultancy Services (TCS) as the successful bidder for its National Employment Savings Trust (NEST) scheme administration services http://www.pensionsage.com/pa/NEST-to-be-led-by-TCS.php http://www.pensionsage.com/pa/NEST-to-be-led-by-TCS.php The FSA has bared its teeth again by announcing fines for RSM Tenon Financial Services Limited (Tenon) of £700,000 for poor systems and controls to prevent unsuitable advice in its pension switching and structured product business http://www.pensionsage.com/pa/FSA-fines-company-for-pension-switching-failings.php http://www.pensionsage.com/pa/FSA-fines-company-for-pension-switching-failings.php The FSA has raised concerns over the disclosure and marketing of TLP and has warned providers and advisers that they face “significant risk” to their reputations if they fail to sell or advise on TLPs properly http://www.pensionsage.com/pa/FSA-to-keep-close-eye-on-traded-life-settlements.php http://www.pensionsage.com/pa/FSA-to-keep-close-eye-on-traded-life-settlements.php The average large employer in the FTSE 100 has increased the maximum contribution made to defined contribution (DC) pension schemes, according to Towers Watson http://www.pensionsage.com/pa/DC-contributions-at-high-in-2010.php http://www.pensionsage.com/pa/DC-contributions-at-high-in-2010.php The Government should abandon its complex and costly proposals on the tax treatment of pensions contributions, says the National Association of Pension Funds (NAPF) http://www.pensionsage.com/pa/NAPF-recommends-budget-for-pensions.php http://www.pensionsage.com/pa/NAPF-recommends-budget-for-pensions.php The collective problem of delivering higher state pensions, public debt and longevity could all be solved with a faster and further rise in the SPA, argues PwC http://www.pensionsage.com/pa/Solve-fiscal-problems-with-faster-rising-State-Pension-Age.php http://www.pensionsage.com/pa/Solve-fiscal-problems-with-faster-rising-State-Pension-Age.php A new minimum threshold requirement, and an independent commission with powers to increase contribution levels, would help secure the long-term sustainability of the LGPS http://www.pensionsage.com/pa/Three-step-plan-to-save-the-LGPS.php http://www.pensionsage.com/pa/Three-step-plan-to-save-the-LGPS.php Financial advisors, accountants and EBCs are in for a busy time with 90% of UK firms intending to seek advice and guidance to help understand the pension reforms from 2012 http://www.pensionsage.com/pa/NEST-hatches-fresh-round-of-communication-demands.php http://www.pensionsage.com/pa/NEST-hatches-fresh-round-of-communication-demands.php The largest ever pension scheme insurance deal has been struck by Abbey Life, in association with Paternoster, to provide the BMW (UK) Operations Pension Scheme with a hedge for the life expectancy risks for its almost £3bn of liabilities http://www.pensionsage.com/pa/Abbey-Life-speeds-ahead-to-biggest-buyout-deal.php http://www.pensionsage.com/pa/Abbey-Life-speeds-ahead-to-biggest-buyout-deal.php Taxpayers could save £600 million to the detriment of pensioners, depending on the date Gordon Brown chooses for the general election, warns Towers Watson http://www.pensionsage.com/pa/Late-election-date-could-cost-pensioners-600m.php http://www.pensionsage.com/pa/Late-election-date-could-cost-pensioners-600m.php Individuals can now contact their pension providers and request that they back resolutions brought against BP and Shell, through an innovative internet tool launched by FairPensions http://www.pensionsage.com/pa/New-tool-to-help-funds-back-resolutions.php http://www.pensionsage.com/pa/New-tool-to-help-funds-back-resolutions.php