News in brief - 2 July 2021

Premier has launched a free value for member assessment service to help defined contribution (DC) scheme trustees with forthcoming regulations.

From 1 October 2021, new regulations are coming into force that will require trustees to compare how their investment performances and charges compare against three comparator arrangements. Premier’s new assessment is designed to give trustees and employers early warning of whether their scheme’s default investment strategy is likely to pass the new value for member requirements, thereby determining whether they need to think about making changes to their scheme or consolidating it into a master trust.

The Pensions Management Institute (PMI) has announced a new type of membership for experienced professionals in the pensions industry.

Membership by experience (EPMI) will be open to senior pensions practitioners as an alternative route to membership that does not require applicants to complete the PMI’s qualifications to gain access to the benefits associated with the PMI membership. These individuals will need to successfully demonstrate their professional competence and have a minimum of 10 years of pensions related specialist knowledge. All qualified members will be entitled to use the designatory initials EPMI.

BlackRock has updated the existing indices for five of its funds within its Authorised Contractual Scheme (ACS) range with their ESG screened version equivalents.

Applying ESG screens across the five regional equity strategies aims to improve the sustainability profile of each fund and result in over 70 per cent of the AUM within the ACS range tracking ESG indices. The enhancements being made are based on client demand for sustainable investment products, and ongoing regulatory changes requiring pension schemes to disclose how ESG factors are incorporated into investment decisions. 

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