Latest News
-
L&G predicts 25% growth in small- to mid-sized PRT deals despite Covid-19 impact
-
Pension schemes urged to use investment disclosures as an engagement tool
-
Blog: Changing perceptions
-
Surge in RPI/CPIH consultation responses expected before 21 August deadline
-
PTL to conduct member value review for R&M's DC FM scheme clients
-
News in brief – 7 August 2020
Archive News
A surge in responses to the government's consultation on switching from the retail price index (RPI) for index-linked gilts is expected before the deadline of 21 August, according to Insight Investment
Posted: 07/8/20
As industry statistics show a fall in female trustee chair representation, Pensions Age reporter, Sophie Smith, looks at the importance of changing industry perceptions and advertising in the right way
Posted: 07/8/20
Pension schemes should look to use the upcoming investment disclosure requirements as an opportunity to engage members and help them better understand their pension, Sackers has said
Posted: 07/8/20
River and Mercantile (R&M) has appointed PTL to conduct an independent value for members review for its defined contribution (DC) fiduciary management (FM) pension scheme clients
Posted: 7/8/20
The number of small- to mid-sized pension risk transfer (PRT) transactions could increase by up to 25 per cent in 2020 despite the ongoing Covid-19 pandemic, according to analysis by Legal & General (L&G).
L&G’s latest Pension Risk Transfer Monitor stated that there has already been an increase in small- to mid-sized transactions (covering liabilities of less than £100m), with L&G itself having written over 20 deals in the year to date
L&G’s latest Pension Risk Transfer Monitor stated that there has already been an increase in small- to mid-sized transactions (covering liabilities of less than £100m), with L&G itself having written over 20 deals in the year to date
Posted: 07/8/20
The latest news in brief and mandates from the past seven days
Posted: 7/8/20
Almost three quarters (73 per cent) of defined benefit (DB) pension schemes have taken no material action to change their investment strategy or journey plans amid Covid-19, according to research by Lane Clark and Peacock (LCP)
Posted: 06/8/20
Dalriada Trustees has appointed Minerva Analytics as its implementation statements services partner to ensure that statements for all its clients fully comply with new pensions legislation
Posted: 06/8/20
Pensions and Lifetime Savings Association (PLSA) chair, Richard Butcher, looks at how well the pensions industry has coped during the Covid-19 pandemic
Posted: 6/8/20
Nearly one in five (19 per cent) UK workers are unaware of automatic enrolment (AE) into workplace pension schemes, Office for National Statistics (ONS) figures have revealed
Posted: 6/8/20
The UK defined benefit (DB) pension deficit was £270bn at the end of July, the same level as was recorded at the end of June, according to PwC’s Skyval Index
Posted: 06/08/2020
ITV has submitted an initial offer of £31m to The Pensions Regulator (TPR) to reach a settlement regarding its financial support of the Box Clever Group Pension Scheme
Posted: 6/8/20
The Pensions Regulator (TPR) has warned that the hardest times “may still be ahead” for many sponsoring employers in a letter to the Work and Pensions Select Committee (WPC)
Posted: 5/8/20
Scottish Widows has invested £2bn of its pension portfolios in BlackRock’s newly launched fund designed for the transition to a low carbon economy
Posted: 5/8/20
The average personal pension fund returned 13.3 per cent in Q2 2020 after seeing returns of -15.2 per cent in Q1, according to Moneyfacts
Posted: 5/8/20
A phased pensioner buy-in strategy can help schemes reach full buyout with greater certainty and at a lower price if it is “done properly”, according to LCP
Posted: 5/8/20
Ascot Lloyd Pension Trust has selected Salvus Master Trust as the replacement default scheme for its members following its exit from the master trust market
Posted: 5/8/20
The NHS Business Services Authority (BSA) has extended the voluntary scheme pays deadline for 2018/19 by five months to 31 March 2021
Posted: 5/8/20
The cross industry GMP Equalisation Working Group (GMPEWG) has published guidance to help trustees effectively communicate the complexities of GMP equalisation to their scheme members
Posted: 4/8/20
The National Institute of Agricultural Botany (NIAB) Trust has become a statutory employer of the NIAB (1996) Pension Scheme following pressure from The Pensions Regulator (TPR)
Posted: 4/8/20
Self-employed workers see property as the safest way to save for their retirement, Office for National Statistics (ONS) data has revealed
Posted: 4/8/20
More than one in five (21 per cent) British adults do not have any pension provision in place, according to research by OpenMoney
Posted: 4/8/20
Changing work and income patterns resulting from the Covid-19 pandemic call for a re-examination of pension tax rules, Squire Patton Boggs (SPB) has said
Posted: 4/8/20
Self-invested personal pension (Sipp) specialist, Curtis Banks, has agreed to acquire fintech firm Dunstan Thomas and Sipp administrator Talbot and Muir
Posted: 4/8/20
The combined accounting deficit of defined benefit (DB) pension schemes for FTSE 350 companies increased by £13bn in July to reach £103bn, according to Mercer
Posted: 3/8/20
The Pensions Administration Standards Association (Pasa) has issued guidance aimed at highlighting best practice to administrators as they navigate their way out of lockdown
Posted: 3/8/20
The best and worst performing pension schemes of FTSE 350 companies have seen “further divergence” in their funding levels in 2020 due to Covid-19 volatility, according to Aon
Posted: 3/8/20
The Department for Transport (DfT) is working with the Civil Aviation Authority (CAA) on potentially adjusting the retirement age for commercial pilots to bridge the gap to state pension age (SPA)
Posted: 3/8/20
Legal & General (L&G) Retail Retirement and PensionBee have agreed to enter a partnership that will see PensionBee customers being directed to L&G for annuity enquiries
Posted: 3/8/20
Defined benefit (DB) pension trustees' awareness of the two main commercial consolidators, The Pension Superfund (TPS) and Clara-Pensions, has “rocketed” over the past 12 months, according to Hymans Robertson
Posted: 3/8/20
Former Work and Pensions Select Committee (WPC) chair, Frank Field, has been nominated for a House of Lords life peerage
Posted: 3/8/20
Work and Pensions Select Committee (WPC) chair, Stephen Timms, has written to pension providers asking for ideas and evidence to address the increasing number of small defined contribution (DC) pension pots
Posted: 31/7/20
The number of pension tax reclaim forms processed in Q2 2020 fell by almost 10,000 compared to Q2 2019, with just 7,649 forms processed during the period, according to HMRC data
Posted: 31/7/20
The Welsh government has further outlined proposals that would amend Firefighter Pension Schemes’ regulations to equalise survivor benefits in the midst of a consultation on the issue
Posted: 31/7/20
Pension schemes with an administrator that accesses personal data from outside of the European Economic Area (EEA) should check their compliance with data control regulations, according to Squire Patton Boggs (SPB)
Posted: 31/7/20
The total value of flexible pension withdrawals fell by 17 per cent year-on-year in Q2 2020, from £2.8bn in Q2 2019 to £2.3bn, HMRC figures have shown
Posted: 31/7/20
The number of transfers into Qualified Recognised Overseas Pension Schemes (QROPS) fell by 12 per cent year-on-year in 2019/20, from 5,000 to 4,400, according to HMRC data
Posted: 31/7/20
The latest news in brief and mandates from the past seven days
Posted: 31/7/20
The Pensions and Lifetime Savings Association (PLSA) has published guidance to help pension trustees navigate upcoming investment and responsible investment disclosure requirements
Posted: 31/7/20
Fewer than one in five pension compensation claims came from women in 2019, analysis of Financial Ombudsman Service (FOS) data has found
Posted: 30/07/2020
With lockdown continuing the ease in the UK and some semblance of normality returning to our lives, its encouraging to see some financial firms and organisations continuing their hard work to improve workplaces and support the public
Posted: 30/7/20
Fuller, Smith & Turner reduced its defined benefit (DB) pension deficit by £31.7m to £4.7m in its financial year ended 28 March 2020, according to the company’s annual financial report
Posted: 30/7/20
The Department for Work and Pensions (DWP) is unsure of the impact of Covid-19 on employees’ auto-enrolment (AE) contributions, due to a lack of “suitable data”
Posted: 30/07/2020
Almost a fifth (18 per cent) of defined contribution (DC) pension savers say that Covid-19 has had a high impact on their retirement confidence, according to State Street Global Advisors (SSGA)
Posted: 30/7/20
The Countrywide Farmers Retirement Benefits Scheme has agreed a £100m bulk annuity transaction with Legal & General (L&G), securing the benefits of 360 deferred members and 712 retirees
Posted: 30/07/2020
Barclays has increased its pension surplus across all schemes from £1.8bn to £2.5bn in the first six months of 2020, according to the banking group’s half-year report
Posted: 29/7/20
Over 60 prominent civil society leaders, including MPs and pension scheme chairs, have signed an open letter criticising Pensions Minister Guy Opperman for recent anti-divestment comments.
The open letter argued that Opperman had ignored the “clear moral, scientific and financial arguments for fossil fuel divestment”, when suggesting that schemes should engage with, rather than be forced to divest, from oil and gas companies
The open letter argued that Opperman had ignored the “clear moral, scientific and financial arguments for fossil fuel divestment”, when suggesting that schemes should engage with, rather than be forced to divest, from oil and gas companies
Posted: 29/07/2020
The majority (57 per cent) of pension professionals do not expect to make any changes to future morality improvement assumptions for pension schemes in light of the Covid-19 pandemic, Society of Pension Professional (SPP) research has revealed
Posted: 29/07/2020
The Financial Conduct Authority (FCA) has launched a second consultation on measures to ensure that vulnerable consumers are treated fairly and consistently across financial services sectors
Posted: 29/7/20
Nest has announced a new climate policy that targets achieving carbon neutrality by 2050, with the scheme announcing plans to invest £5.5bn, or 45 per cent of its portfolio, into climate aware strategies
Posted: 29/7/20
The Universities Superannuation Scheme (USS) defined benefit (DB) deficit has increased to £12.9bn over the past year due to the impact of Covid-19, the scheme stated
Posted: 29/07/2020
The Pensions and Lifetime Savings Association (PLSA) has opened a consultation on a solution to protect people who do not engage with or understand the financial choices they face when reaching retirement
Posted: 28/7/20
A fifth (20 per cent) of over-55s would withdraw their pension for ‘control’ over their savings, which often means moving to investments such as savings accounts, according to PensionBee
Posted: 28/7/20
The Work and Pensions Committee (WPC) has launched an investigation into pension scams in the first strand of a three-part inquiry into the impact of the pension freedoms and protection of pension savers.
Posted: 28/07/2020
There is “no evidence” of any positive movement in terms of female trustee board diversity following a dip in female trustee chair representation, according to the latest Barnett Waddingham and Winmark Pension Chair Remuneration Report
Posted: 28/07/2020
The trustee of the LV= Employee Pension Scheme has converted a longevity swap held with ReAssure into an approximate £800m buy-in with Phoenix Life
Posted: 28/7/20
Three-quarters of trustee chairs do not expect to adapt their endgame strategy in light of the Covid-19 pandemic, according to research by Barnett Waddingham and Winmark
Posted: 28/07/2020
The Pensions Regulator (TPR) has determined there are no reasonable grounds to issue a contribution notice following an investigation into how Bernard Matthews Limited’s (BML) Pension Scheme entered the Pension Protection Fund (PPF)
Posted: 28/7/20
The British Medical Association (BMA) has reiterated its support for those doctors affected by ‘discriminatory’ pension scheme changes, calling for a remedy which is “tailored for all doctors”
Posted: 28/07/2020
Royal London has urged the government to “urgently clarify” Voluntary Scheme Pays eligibility rules in England and Wales to ensure that NHS workers have “breathing space” to resolve their tax affairs before the current deadline of 31 July 2020
Posted: 28/07/2020
Almost two-thirds (63 per cent) of pension funds with explicit liabilities said their asset and liability management position has worsened this year, according to a Bfinance survey
Posted: 27/7/20
Advice requests from those nearing retirement have been the third most common since Covid-19, making up 40 per cent of requests received by financial advisers, research by Aegon has found
Posted: 27/07/2020
The Pensions Ombudsman (TPO) has partially upheld a complaint against Curtis Banks concerning the charging of additional self-invested personal pension (Sipp) fees
Posted: 27/7/20
The Pensions Management Institute (PMI) has launched a new financial education and guidance service in conjunction with Wealth at Work, called ‘Retirement Matters’
Posted: 27/07/2020
More than three-quarters (77 per cent) of over-75s are unlikely to check their eligibility for pension credit amid TV licence rule changes, according to research from Just Group
Posted: 27/7/20
The number of people choosing to take their pension as drawdown fell by almost half (42.2 per cent) compared to 2019, analysis by the Association of British Insurers (ABI) has found.
Posted: 27/07/2020
Defined contribution (DC) member attitudes toward environmental, social and governance (ESG) issues are changing quickly in a “groundswell of interest”, according to a report from the DC Investment Forum (DCIF)
Posted: 24/7/20
The Department for Work and Pensions (DWP) will work with “key stakeholders” to increase the number of eligible people claiming pension credit, according to DWP parliamentary under-secretary, Baroness Stedman-Scott
Posted: 24/7/20
The role of UK pension funds in financing the UK’s infrastructure recovery plans following Covid-19 is a “noticeable element missing” from the recent government announcements, Aviva has claimed
Posted: 24/07/2020
Unilever’s pension liability net of assets has increased to €400m (£363m) as at 30 June 2020, up from €200m (£170m) at the start of the year
Posted: 24/07/2020
The Judicial Pension Scheme (JPS) had long-term liabilities of £5.755bn at 31 March 2020, having leapt by £0.663bn from £5.092bn over the past 12 months
Posted: 24/7/20
The latest news in brief and mandates from the past seven days
Posted: 24/07/2020
Over a third (37 per cent) of working age Brits do not know what size pension pot they would require at retirement, according to research from Unbiased
Posted: 23/7/20
Almost a fifth of those over 50 say that the Covid-19 pandemic has already or will impact their retirement plans, according to research by Co-op insurance
Posted: 23/07/2020
The Pensions Administration Standards Association (Pasa) has emphasised the importance of administrators in mitigating against the risk of cybercrime in pension schemes, amid increased industry concerns
Posted: 23/07/2020
The number of deferred pots could grow from eight million to 27 million by 2035 if the issue is not tackled by policy changes, according to the Pensions Policy Institute (PPI).
Posted: 23/7/20
The Pensions Ombudsman (TPO) has upheld a complaint against employer PSDT and will report the firm to The Pensions Regulator (TPR) after it failed to meet auto-enrolment duties in relation to the complainant
Posted: 23/07/2020
The Vodafone Defined Contribution (DC) Pension Plan has completed the largest-ever transfer of an unbundled DC scheme to a master trust, with £1.4bn of assets transferring to LifeSight master trust, according to Willis Towers Watson
Posted: 23/7/20
Proposed changes to the way defined benefit (DB) pension schemes are regulated could risk being “too rigid” and having a damaging impact on both scheme members and employers alike, Lane Clark and Peacock (LCP) has warned
Posted: 23/07/2020
Pension-related scams made up 16 per cent of all suspicious communications reported throughout the Covid-19 pandemic, according to analysis by Aviva, representing a 3 per cent increase since 1 March.
Posted: 22/07/20
DIY investors could miss out on almost £250,000 by switching from their workplace pension scheme’s default investment strategy to making their own fund choices, according to The People’s Pension (TPP)
Posted: 22/7/20
Defined contribution (DC) providers must improve their communication as more than two thirds (69 per cent) of members have not been contacted about Covid-19, according to PensionBee
Posted: 22/7/20
Premaberg Holdings has completed a £5m buy-in bulk annuity transaction for its UK defined benefit (DB) pension plan with Just Group
Posted: 22/07/2020
Defined benefit (DB) pension scheme liabilities could drop by £90bn (5 per cent) due to the impact of the coronavirus pandemic on life expectancy, according to XPS Pensions Group
Posted: 22/7/20
The majority (72 per cent) of workers are keen for their employer to offer a workplace savings scheme in addition to a standard pension, according to research by Cushon
Posted: 22/07/2020
The government’s call for evidence into pensions tax relief administration has received a mixed reception from the industry, garnering criticism for raising “more questions than answers”
Posted: 21/7/20
The government has launched a call for evidence into pensions tax relief administration, following industry and stakeholder concerns over the net pay anomaly.
It has highlighted concerns around the potential for a low-earning individual’s take-home pay to be affected by the method of pensions tax relief operated by their scheme, stating that it is keen to understand what “deliverable options for change” exist, as a "straightforward and proportionate solution" has yet to be outlined
It has highlighted concerns around the potential for a low-earning individual’s take-home pay to be affected by the method of pensions tax relief operated by their scheme, stating that it is keen to understand what “deliverable options for change” exist, as a "straightforward and proportionate solution" has yet to be outlined
Posted: 21/7/20
HMRC has published a policy paper outlining proposed changes to tax legislation to enable collective money purchase (CMP) pension schemes to operate as UK registered schemes
Posted: 21/7/20
The Wales Pension Partnership (WPP) has developed a new climate risk policy and acknowledged that climate change has the potential to disrupt economic, financial and social systems
Posted: 21/7/20
Issues around member engagement, integration, adequacy and flexibility could be more challenging to resolve in the current economic climate, Squire Patton Boggs has warned
Posted: 21/7/20
Momentum Pensions has rebranded its self-invested personal pension (Sipp) business to iPensions Group as part of its wider growth strategy
Posted: 21/7/20
The MP for Gloucester, Richard Graham, has raised concerns about the unintended negative impact the Pension Protection Fund (PPF) levy can have on companies with closed defined benefit (DB) pension schemes
Posted: 20/7/20
Legal & General (L&G) will invest over £50m in a regeneration project in Edinburgh’s Princes Street on behalf of the L&G UK Property Fund
Posted: 20/7/20
The Pensions Ombudsman (TPO) has upheld a ruling against NHS Business Services Authority (BSA) after a complainant alleged his pension had been damaged by a lack of information
Posted: 20/7/20
The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) deficit has grown to £177m as at 31 March 2020, up from £72m at 31 March 2019
Posted: 20/7/20
The Covid-19 pandemic has given defined contribution (DC) schemes reason to re-evaluate how they operate, including their investment approach and administration, according to research by Aon
Posted: 20/7/20
The Public Accounts Committee (PAC) has called for the government to conduct a review into pension tax relief, citing concerns that HMRC does not understand its impact
Posted: 20/7/20
Pensions Policy Institute (PPI) head of modelling, Tim Pike, discusses the possibility of pension tax reform to help pay for Covid-19 efforts
Posted: 17/7/20
A new tool launched by Hymans Robertson aims to help defined benefit pension schemes identify whether their strategy is suited to The Pensions Regulator’s (TPR) ‘fast track’ or ‘bespoke’ route
Posted: 17/6/20
The latest news in brief and mandates from the past seven days
Posted: 17/7/20
Proposed amendments to the Local Government Pension Scheme (LGPS) in England and Wales are estimated to cost LGPS employers £2.5bn in the coming decades, according to a report from the Ministry of Housing, Communities & Local Government (MHCLG)
Posted: 17/7/20
Nest pension scheme funds failed to hit annual performance benchmarks during 2019/20, despite low equity weighting, according to the group's financial reports
Posted: 17/7/20
HMRC has published an update on guaranteed minimum pension (GMP) equalisation that addresses the tax issues around lump sum payments to affected members
Posted: 17/7/20
The Pensions Regulator (TPR) met 12 of its 18 key performance indicators (KPIs) in 2019/20, its Annual Report and Accounts has revealed
Posted: 16/7/20
The Pensions Ombudsman (TPO) has reported that it closed 3,468 investigations and resolved 8,809 enquiries in 2019/20, surpassing its targets for both
Posted: 16/7/20
Canada Life and Defaqto have published a drawdown review guide following research which revealed that 69 per cent of financial advisers' clients were concerned about the impact of Covid-driven market volatility on their retirement plans
Posted: 16/7/20
The latest employment figures suggest that the Covid-19 pandemic and subsequent lockdown could be driving an increase in the number of people retiring before the age of 65, according to analysis by Aviva
Posted: 16/7/20
Savers are more likely to seek guidance and advice after receiving a ‘stronger nudge’ from their provider, according to behavioural trials conducted on behalf of the Money and Pensions Service (Maps)
Posted: 16/7/20
The Treasury has launched a consultation seeking views on its proposed method of implementing changes to remedy the age discrimination identified in the McCloud court case.
It has proposed offering affected members the choice of accruing benefits in either the new career average pension schemes or in the final salary legacy arrangements that they were moved from for the period between 1 April 2015 and 31 March 2022 (the remedy period)
It has proposed offering affected members the choice of accruing benefits in either the new career average pension schemes or in the final salary legacy arrangements that they were moved from for the period between 1 April 2015 and 31 March 2022 (the remedy period)
Posted: 16/7/20
Two-thirds (66 per cent) of HR managers view pensions being “far too complicated” as a key barrier in getting employees more engaged with their pension, according to a survey by Cushon
Posted: 16/7/20
The Pension Schemes Bill has been passed in the House of Lords (HoL) following a third reading and will now move for consideration in the House of Commons
Posted: 15/7/20
Local Government Pension Scheme (LGPS) administering authorities need to act quickly in carrying out impact assessments to see how many of their members will be affected by the McCloud ruling, Aon has said
Posted: 15/7/20
The UK’s pension transfer market has returned to “business almost as usual” with a less than 5 per cent drop in transfers over H1 2020, according to Origo
Posted: 15/7/20
The government has confirmed that a “number of options” are being considered in response to calls to reinstate the pensions of war widows that were withdrawn upon remarriage or cohabitation
Posted: 15/7/20
Defined benefit (DB) transfer values increased to a record high of £260,800 in mid-June, before falling back to £259,700 at the end of the month, according to the XPS Transfer Watch
Posted: 15/7/20
Adoption of master trusts is on course to accelerate amongst FTSE 250 companies over the next two years, according to a report from Willis Towers Watson (WTW)
Posted: 15/7/20
Pension funds and other investors have met with the Brazilian Congress to discuss potential improvements to the country’s sustainable management of the Amazon rainforest
Posted: 15/7/20
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
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
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 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
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
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
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
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
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
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
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 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
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 Isio
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 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 latest news in brief and mandates from the past seven days
Posted: 10/07/2020
PMI president, Lesley Carline, discusses the importance of communicating with members to raise awareness of pension scams
Posted: 09/07/2020
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
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
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 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
The government will pay the minimum employer automatic enrolment (AE) pension contributions for workers hired under its new Kickstart Scheme.
Posted: 8/7/20
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
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
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
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
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
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
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
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
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 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
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
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 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
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
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 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 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 latest news in brief and mandates from the past seven days
Posted: 3/7/20
UK defined benefit (DB) pension schemes are losing out on around £250m of extra annual income in their global equity portfolios because of tax inefficiency, according to new research from The Asset Management Exchange (AMX) and Northern Trust (NT)
Posted: 2/7/20
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
Buyout and buy-in volumes could reach £20bn to £25bn in 2020, potentially becoming the second largest year on record for the transactions by beating the £24.2bn of transactions in 2018, according to Lane Clark & Peacock (LCP)
Posted: 2/7/20
The Pensions and Lifetime Savings Association (PLSA) and the Investor Forum have published joint guidance to help pension schemes assess the effectiveness of their asset managers’ delivery of stewardship
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
The Brandsby Agrictultural Trading Association Employees' Superannuation Pension Scheme has completed a £13m buyout deal with Legal & General (L&G)
Posted: 2/7/20
The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies rose from £72bn to £90bn in June, according to Mercer
Posted: 1/7/20
Around 20 per cent of defined benefit (DB) schemes with 2020 valuations would have to more than treble their deficit recovery contributions (DRCs) to meet their current recovery plans (RP), assuming 31 March effective dates, according to The Pensions Regulator (TPR)
Posted: 1/7/20
The financial sector has an "exceptionally important role" to play in achieving a transition to net zero, according to former governor of the Bank of England, Mark Carney
Posted: 1/7/20
Over one in 10 (11 per cent) UK defined benefit (DB) pension schemes have discussed superfunds as an option for their target end-game, according to a survey conducted by Willis Towers Watson
Posted: 1/7/20
Nest is on track to have completely divested from the tobacco industry within the next two months, around a year ahead of schedule
Posted: 1/7/20
The IPC Media Pension Scheme has completed a £290m buy-in with Rothesay Life, covering the liabilities of 574 scheme members
Posted: 1/7/20
Moving a pension to a more sustainable fund is 27 times more effective in reducing your carbon footprint than not flying and becoming a vegan combined, according to the newly launched Make My Money Matter (MMMM) Campaign
Posted: 1/7/20
The government has been defeated in four Pension Schemes Bill amendment votes in the House of Lords (HoL), including on the way pensions dashboards will operate
Posted: 1/7/20
Divorced women’s median pension wealth at retirement adds up to just a quarter (25 per cent) of that of their male counterparts, according to research commissioned by Now Pensions
Posted: 30/6/20
The Lothian Pension Fund (LPF) has announced the launch of its new statement of responsible investment principles, stressing that it must act "as an agent for positive change"
Posted: 30/6/20
XPS Pensions has called for cooperation between advisory firms and auditors to create a standardised online tool to improve efficiency after finding that the pension accounting gap has widened
Posted: 30/6/20
It would be “madness” to permanently abandon the triple lock on state pensions in response to the Covid-19 pandemic without more detailed assessment, according to Hymans Robertson
Posted: 30/6/20
Willis Towers Watson’s Willis Pension Scheme has entered a longevity swap deal with Munich Re to manage longevity risk in relation to £1bn of pensioner liabilities
Posted: 30/6/20
The Pension Superfund (PSF) has today (30 June) announced its official registration as an occupational pension scheme by HMRC
Posted: 30/6/20
The government needs to act on previous industry recommendations around auto-enrolment (AE) to protect those worst hit by the Covid-19 crisis, Scottish Widows has said
Posted: 29/6/20
Around £127bn has been transferred out of UK funded occupational pension schemes since 2015, with £36.9bn-worth of transfers out in 2017 alone, according to figures from the Office for National Statistics (ONS)
Posted: 29/6/20
Pensions Age is pleased to be hosting a virtual event looking at pension fund investing in the current climate
Posted: 29/6/20
The majority (60 per cent) of pensions industry professionals remain "pessimistic" about the direction of future pension policy following the current pandemic, according to research by the Pensions Management Institute (PMI)
Posted: 29/6/20
The Pensions Regulator (TPR) has published its 2020/21 Corporate Plan, which sets out its priorities for the year ahead
Posted: 29/6/20
The FTSE 350 defined benefit (DB) solvency deficit increased by £45bn over the first five months of the year, according to Barnett Waddingham
Posted: 29/6/20
Landsec, a leading British property firm, has announced a number of changes to its executive pension offerings in response to guidance from the Investment Association (IA)
Posted: 29/6/20
The average pension pot of UK workers at ‘large’ companies has increased over the last three years, from £89,000 in 2017 to £120,000 in 2020, data from Close Brothers has revealed
Posted: 29/6/20
The state pension could rise by five times as much as average weekly earnings over the next two years, according to the Resolution Foundation
Posted: 26/6/20
Macquarie Infrastructure Debt Investment Solutions (MIDIS) has raised £2.7bn from predominantly UK corporate pension schemes, local authority pension schemes and insurance companies in the latest fundraising for its UK infrastructure debt strategy
Posted: 26/6/20
The ex-boss of Norton Motorcycles, Stuart Garner, said that it was “likely” that pension investors would receive all their money back following The Pension Ombudsman’s (TPO) decision
Posted: 26/6/20
There has been an uptick in the number of key workers being targeted by scammers to transfer their pensions into high-risk self-invested personal pensions (Sipps), APJ Solicitors has said
Posted: 26/6/20
Defined benefit (DB) schemes need to plan their endgame approach and consider the risks posed by volatile markets, according to advice from Aviva Investors and Lincoln Pensions
Posted: 26/6/20
The latest news in brief and mandates from the past seven days
Posted: 26/6/20
The Department for Work and Pensions (DWP) has announced a call for evidence on how effective pension costs, charges and transparency measures are in protecting member outcomes.
It is seeking industry views on the “level and scope” of the charge cap applicable to default arrangements within defined contribution (DC) schemes used for auto-enrolment (AE)
It is seeking industry views on the “level and scope” of the charge cap applicable to default arrangements within defined contribution (DC) schemes used for auto-enrolment (AE)
Posted: 25/6/20
A new social contract for retirement is needed to improve later life as struggling global retirement systems have seen their situations exacerbated by the coronavirus pandemic, according to a report from Aegon
Posted: 25/6/20
The Communication Workers Union (CWU) has written to its members urging them to write to their MP to request their support in defending the state pension triple lock from being scrapped
Posted: 25/6/20
Pension schemes’ focus on overcoming and managing GMP equalisation issues is leading to many coupling GMP conversion with Pension Increase Exchange (PIE) exercises, according to Aon
Posted: 25/6/20
Norton Motorcycles director and scheme trustee, Stuart Garner, has been ordered to repay all the money that he invested into his own firm from the company pension schemes
Posted: 25/6/20
The Work and Pensions Committee (WPC) chair, Stephen Timms, has written to The Pensions Regulator (TPR) with further questions on its plan of action following The Pension Ombudsman’s (TPO) ruling on the Norton Motorcycles pension scam
Posted: 25/6/20
Defined benefit (DB) trustees could collectively save 3,000 days of work by adopting new technology-driven solutions, according to research from OneDB
Posted: 25/6/20
The Pensions and Lifetime Savings Association (PLSA) has released a guide to help trustees in handling guaranteed minimum pension (GMP) equalisation
Posted: 24/6/20
The government has launched a consultation to seek views on proposed amendments to the Fee-Paid Judicial Pension Scheme (FPJPS), designed to reflect recent Supreme and European Union Court rulings
Posted: 24/6/20
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: 24/6/20
The Pensions Ombudsman (TPO) has upheld a complaint against the NHS Business Services Authority (NHS BSA) after it failed to properly consider an application for permanent injury benefit (PIB)
Posted: 24/6/20
The Financial Conduct Authority (FCA) has published a review which has highlighted concerns the regulator has with the independence of some Independent Governance Committees (IGCs)
Posted: 24/6/20
The Pensions Regulator (TPR) has highlighted the importance of administrators continuing to receive support to help them deliver on priority activities during the Covid-19 crisis
Posted: 24/6/20
The Institute and Faculty of Actuaries (IFoA) has outlined a new ‘rule of thumb’ to be used alongside existing savings goals, which should indicate whether a saver is on track and, if not, the extent of their savings gap
Posted: 24/6/20
The Univar Company Pension Scheme (UCPS) has won its case at the High Court and has been granted permission to change the index it uses to calculate its pension payment increases
Posted: 23/6/20
Industry experts have been divided in their response to today's report by the Pensions Policy Institute (PPI), which called for an overhaul of the UK pensions tax system to address disparities it identified
Posted: 23/6/20
The total value of bulk annuity deals is set to halve in 2020 in comparison to 2019, reaching around £20-25bn, according to Willis Towers Watson (WTW)
Posted: 23/6/20
A Pensions Policy Institute (PPI) report has called for an overhaul of the UK pensions tax system, highlighting that a flat tax relief system could see the proportion of tax relief enjoyed by basic rate tax payers increase from 26 per cent to 42 per cent
Posted: 23/6/20
The government has no plans to remove taxes on accessing pension savings early in order to aid those struggling financially in the coronavirus crisis
Posted: 23/6/20
The Pension Protection Fund’s (PPF) compensation cap for those below normal pension age is unlawful discrimination on the grounds of age, the High Court has stated
Posted: 23/6/20
The drop in defined benefit (DB) scheme liabilities caused by Covid-19’s impact on mortality rates has been overshadowed by liability increases triggered by economic factors, according to Lane Clark & Peacock (LCP)
Posted: 22/6/20
The Financial Conduct Authority (FCA) has appointed Nikhil Rathi as its new permanent chief executive, replacing the regulator’s interim boss, Christopher Woolard
Posted: 22/6/20
The vast majority (95 per cent) of savers aged 55 and over think it is essential or important that they see how much their provider is charging them on pensions dashboards, research by PensionBee has found
Posted: 22/6/20
The Pensions Ombudsman has upheld a complaint against Phoenix Life Assurance Limited for failing to proceed with a requested transfer
Posted: 22/6/20
The Work and Pensions Select Committee (WPC) has urged The Pensions Regulator (TPR) to remain alert to the risk of unscrupulous employers who could look to take advantage of recent Covid-19 easements
Posted: 22/6/20
The Money and Pensions Service (Maps) has announced that the delayed Pensions Dashboards Programme (PDP) consultation on pensions dashboards’ data standards will open on 6 July 2020
Posted: 22/6/20
The General Healthcare Group Pension & Life Assurance Plan has secured a £150m buy-in with Aviva, covering all 700 of its defined benefit (DB) members
Posted: 22/6/20
Amendments to the Corporate Insolvency and Governance Bill have been laid out to address industry concerns over the potential impact of the bill on pension schemes
Posted: 19/6/20
The Pensions Ombudsman (TPO) has upheld a complaint against Northamptonshire County Council, and ordered it to pay the complainant £1,000 for the “serious non-financial injustice caused”
Posted: 19/6/20
People in ‘Generation X’ (Gen X) are more likely to plan to work longer rather than to save more for their retirement, research by Dunstan Thomas has found
Posted: 19/6/20
The latest news in brief and mandates from the past seven days
Posted: 19/6/20
A “big surge” in defined contribution (DC) occupational trust pension schemes moving to master trusts is expected as the UK begins to ease lockdown, Hymans Robertson has said
Posted: 19/6/20
More than half (51 per cent) of people aged over 55 say that they “know little” about pension freedoms, according to research by Standard Life
Posted: 19/6/20
The Cost Transparency Initiative (CTI) has launched additional resources alongside its existing framework, and urged any remaining schemes and asset managers to adopt the standards
Posted: 19/6/20
In light of the row between Morrisons and its shareholders over executive pensions, Wedlake Bell partner, Clive Weber, and trainee, Adam Kobeissi, discuss what employers and pension trustees need to know about their obligations to corporate governance
Posted: 19/6/20
Pensions Minister Guy Opperman has called for the UK to become a “world leader” in negating the impact of climate change upon retirement savings
Posted: 18/6/20
The Pension Protection Fund (PPF) has so far seen no increase in claims amid Covid-19, although it is “preparing” for an increase should this arise in the wake of the current crisis
Posted: 18/6/20
Participation in workplace pension schemes has increased from 55 per cent to 88 per cent of eligible workers since auto-enrolment began in 2012, according to figures from the Department for Work and Pensions
Posted: 18/6/20
Pensions Minister, Guy Opperman, has written to pension schemes to gather evidence on how ready they are to submit good quality data for the future introduction of the pensions dashboard
Posted: 18/6/20
The Pensions Regulator (TPR) will publish its Corporate Plan at the end of next week, according to its executive director of regulatory policy, analysis and advice, David Fairs
Posted: 18/6/20
Guidelines published this week by The Pensions Regulator (TPR) could lead to delays in restarting dividend payments, according to analysis by Lane Clark & Peacock (LCP)
Posted: 18/6/20
The pensions industry has broadly welcomed the introduction of a long-awaited regulatory regime for the pension superfund market by The Pensions Regulator (TPR), although further clarity was called for
Posted: 18/6/20
The Pensions Regulator (TPR) has published its interim regulatory regime for prospective defined benefit (DB) pension consolidation vehicles ahead of future government legislation
Posted: 18/6/20
The London Pensions Fund Authority (LPFA) has reported its exposure to fossil fuel dependant sectors ended 2019 at less than 2.5 per cent, down from almost 3 per cent one year prior
Posted: 17/6/20
Biffa’s defined benefit (DB) pension schemes had a net surplus of £116.7m at 27 March 2020, up from £79m at the same point 12 months prior
Posted: 17/6/20
The share prices of companies that have transferred their pension obligations to an insurer typically perform better than their peers', according to analysis by Mercer
Posted: 17/6/20
There have not been any meetings between the Department for Work and Pensions (DWP) and the Arcadia Group pension scheme regarding funding commitments in the past three months, according to the government
Posted: 17/6/20
Insurers and other pension risk transfer (PRT) providers are "ready" to invest up to £190bn of pension money into UK infrastructure over the next decade, analysis Legal & General (L&G) has found
Posted: 17/6/20
Chancellor, Rishi Sunak, is considering breaking the Conservative Party’s manifesto pledge of keeping the triple lock on state pensions due to the economic fallout surrounding the coronavirus, according to the Financial Times
Posted: 17/6/20
Pension trustees should prepare for the effects that the proposed Corporate Insolvency and Governance Bill may have on the relationship between schemes and struggling sponsors, according to Squire Patton Boggs
Posted: 17/6/20
The Pensions Regulator’s (TPR) request for trustees to resume some reporting from 1 July is tantamount to holding their feet “to the fire”, according to some in the pensions industry
Posted: 16/06/20
Renold has agreed a 12-month deficit reduction contribution (DRC) suspension with trustees, according to the group's preliminary annual report
Posted: 16/06/2020
Rising unemployment figures reported by the Office for National Statistics (ONS) likely indicate a reduction in people’s ability to save for retirement, according to Aegon
Posted: 16/06/20
The Pensions Regulator (TPR) has published update Covid-19 guidance asking trustees to resume reporting on “certain key information” from 1 July
Posted: 16/06/2020
The Pensions Regulator (TPR) has updated its guidance for employer contributions to auto-enrolment (AE) and defined contribution schemes following further updates to the Coronavirus Job Retention Scheme
Posted: 16/06/20
The Money and Pensions Service (Maps) has published its 2020/21 Corporate Plan, outlining its strategic priorities and immediate response amid the Covid-19 pandemic
Posted: 16/06/2020
A potential drop in inflation to below zero in the coming months could put an extra £5bn of funding pressure on defined benefit (DB) occupational pension schemes, according to pension consultants Lane Clark and Peacock (LCP)
Posted: 15/06/20
AP7, BNP Paribas Asset Management, and the Church of England Pensions Board have partnered with Chronos Sustainability in a project to “identify hallmarks” of responsible corporate climate change lobbying
Posted: 15/06/2020
XPS has launched a Scheme Vulnerability Analysis tool to help schemes assess the possible impact of Covid-19 on their members’ life expectancy
Posted: 15/06/20
Pension superfunds should be created to invest in infrastructure to promote Britain’s green recovery, the Social Market Foundation (SMF) has said
Posted: 15/06/2020
An increase in the attention given to bridging pensions has been an “unexpected result” of the coronavirus pandemic, according to Aon
Posted: 15/6/20
The Pensions and Lifetime Savings Association (PLSA) has urged the government to alter the upcoming Corporate Insolvency and Governance Bill to avoid “unintended negative consequences”.
The group warned that the bill “opens the door” for bank lenders to be higher in the “pecking order” than employees’ pensions when looking to recover cash from a company insolvency
The group warned that the bill “opens the door” for bank lenders to be higher in the “pecking order” than employees’ pensions when looking to recover cash from a company insolvency
Posted: 15/06/2020
Almost one in five (18 per cent) of the general population plan to delay their retirement due to the impact of the coronavirus crisis, according to research from Aegon
Posted: 15/6/20
Pensions and Lifetime Savings Association (PLSA) head of DB, LGPS and Standards, Joe Dabrowski discusses why the long-awaited consolidator framework is needed now more than ever
Posted: 12/6/20
With protests calling for greater racial equality occurring across the globe, improving diversity in the pensions industry has come under the spotlight. Pensions Age speaks to Andrien Meyers, on the practical steps the industry can take to improve diversity. Meyers is councilman at the City of London and head of treasury and pensions at the London Borough of Lambeth
Posted: 12/6/20
The Pensions Regulator (TPR) has published a scaled back Compliance and Enforcement update, revealing a slight dip in its use of automatic enrolment (AE) enforcement powers.
The figures, which cover the period from January to March 2020 and therefore do not reflect the powers used following the introduction of easements in light of Covid-19, have been published in lieu of the regulator’s usual quarterly Compliance and Enforcement Bulletin
The figures, which cover the period from January to March 2020 and therefore do not reflect the powers used following the introduction of easements in light of Covid-19, have been published in lieu of the regulator’s usual quarterly Compliance and Enforcement Bulletin
Posted: 12/06/2020
LV= is reportedly considering the sale of its pensions and life insurance business units, in a move that could end the company’s 177 years of independence
Posted: 12/6/20
The latest news in brief and mandates from the past seven days
Posted: 12/6/20
Pension Insurance Corporation (PIC) has invested £277m (€304m) in eight solar energy parks located in Spain that are owned by Q-Energy’s renewable energy investment vehicle, FSL
Posted: 11/6/20
The Pensions Regulator (TPR) has stated that it is "alive" and responding to the eight risk 'hotspots' identified in the Joint Forum on Actuarial Regulation’s (JFAR) updated Risk Perspective report
Posted: 11/6/20
Defined benefit (DB) pension trustees could face limited options when it comes to evaluating their alternative end-game options without good quality data, ITM has said
Posted: 11/6/20
A report by Pensions for Purpose has revealed “wide variations” in the methodologies used by providers to map portfolios to sustainable development goals (SDGs)
Posted: 11/6/20
The London Local Authorities (LLA) Pension Funds’ collective investment vehicle, London CIV, has chosen Aviva Investors to manage its newly created Inflation Plus Fund
Posted: 11/6/20
The average self-employed workers’ tax year-end pension contribution declined by 30 per cent amid lockdown pressures on personal finances, according to data from PensionBee
Posted: 10/6/20
Triple locked state pensions could rise by as much as 21.3 per cent over a two-year period if there is a V-shaped economic recovery, according to analysis by Willis Towers Watson senior consultant, David Robbins
Posted: 10/6/20
The Pensions Ombudsman (TPO) has upheld a complaint against South Wales Fire & Rescue Service (SWFRS) over misinformation relating to tax-free cash
Posted: 10/6/20
The Pensions Scams Industry Group (PSIG) has urged the Financial Conduct Authority (FCA) to include anti-scam proposals for defined contribution (DC) schemes as well as defined benefit (DB) schemes in future policy statements
Posted: 10/6/20
Pension schemes must not overreact to high short-term UK mortality data when looking to set their long-term mortality assumptions, Aon has warned
Posted: 10/6/20
Between 11 March and 2 June 2020, savers booked 21,663 guidance sessions with Pension Wise, the government has revealed
Posted: 10/6/20
The coronavirus pandemic has led to environmental, social and governance (ESG) investment becoming “more highly valued” than ever before, according to deVere Group
Posted: 9/6/20
The combined deficit of UK defined benefit (DB) pension schemes in the PPF 7800 Index has increased by 37 per cent to £176.3bn at the end of May 2020 (£128.5bn in April)
Posted: 9/6/20
Defined benefit (DB) pension transfer values increased by 4 per cent in May to near record levels, data from XPS Pensions has revealed
Posted: 9/6/20
Occupational pension income now accounts for 30 per cent of pensioners’ incomes, up from 24 per cent 10 years prior, according to research from Equiniti
Posted: 9/6/20
Increased pension deficits are placing further financial strain on charities that are already struggling amid the Covid-19 crisis, Hymans Robertson has warned
Posted: 9/6/20
If the coronavirus triggers an end to the regulatory stalemate surrounding defined benefit (DB) pension consolidators, it could lead to an “explosion of diversity” for workplace pension schemes, according to former Pensions Minister, Steve Webb
Posted: 9/6/20
Troubles pensions will not be received by those who have convictions for "serious crimes", including murder and actual bodily harm
Posted: 8/6/20
Proposed government legislation that seeks to introduce 'no fault' divorces could leave many women "vulnerable" in retirement, according to Quilter head of retirement policy, Jon Greer
Posted: 8/6/20
LV= has urged savers to nominate pension beneficiaries as Covid-19 sees increasing pressures on pension schemes and an increasing number of member deaths
Posted: 8/6/20
APJ Solicitors professional support lawyer, Glyn Taylor, discusses the growing threat of pension liberation scams and the impact it can have on savers
Posted: 8/6/20
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: 8/6/20
Defined contribution (DC) pension savers have been urged to take advantage of financial advice as a record number of people are set to hit pension freedoms age in 2020, according to Aegon
Posted: 8/2/20
With today being World Environment Day, Pensions Age reporter, Duncan Ferris, discusses what steps the pensions industry can make to become more environmentally friendly
Posted: 5/6/20
The Pensions Regulator (TPR) has warned that scammers “thrive” in the current pandemic environment after figures from ActionFraud showed £5.1m has been lost to fraud since February
Posted: 5/6/20
The latest news in brief and mandates from the past seven days
Posted: 5/6/20
All the Brunel Pension Partnership (BPP) active portfolios have surpassed their respective carbon intensity benchmarks by at least 7 per cent, according to its Responsible Investment and Stewardship Outcomes report
Posted: 5/6/20
More than two-thirds (69 per cent) of defined benefit (DB) transfer advice resulted in a recommendation to transfer, according to data released by the Financial Conduct Authority (FCA)
Posted: 5/6/20
The newly announced Financial Conduct Authority (FCA) ban on defined benefit (DB) transfer advice contingency charging has received a mixed response from the pensions industry
Posted: 5/6/20
The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have joint-published a factsheet for savers who have a defined benefit (DB) pension
Posted: 05/6/20
The Financial Conduct Authority (FCA) is moving ahead with a ban on contingent charging for defined benefit (DB) pension transfers in most circumstances
Posted: 5/6/20
Almost half (47 per cent) of the advice given to former British Steel Pension Scheme (BSPS) members was found to be unsuitable, new analysis by the Financial Conduct Authority (FCA) has shown
Posted: 5/6/20
In light of the recent protests for black rights, Pensions Age editor, Laura Blows, examines the efforts to remove racial inequalities within pensions saving, and within the industry itself
Posted: 4/6/20
The Department for Education (DfE) has received notifications from 144 private schools of their plans to leave the Teachers’ Pension Scheme (TPS) since February last year.
Posted: 4/6/20
The Pension Schemes Bill remains "very much a priority" despite delays amid the Covid-19 pandemic, the Department for Work and Pensions (DWP) has said
Posted: 04/6/20
Pennon has reduced its defined benefit (DB) deficit by £52.3m to £8.5m in the 12-month period ending 31 March 2020, according to the water supplier’s full year results
Posted: 4/6/20
Northern Irish (NI) political party, Sinn Féin, has denied reported claims from the UK government that it is responsible for holding up pension payments to victims of the Troubles
Posted: 4/6/20
Burges Salmon senior associate, Ed Curtis, discusses the recent Palestine Solidarity Campaign case, which found that ministerial guidance on the investments of LGPS funds is unlawful
Posted: 4/6/20
The number of dormant pension pots in the UK is set to rise by 32 per cent and exceed 20 million in 2020, according to PensionBee
Posted: 3/6/20
Unite Union has condemned "opportunistic" plans to close the Nissan defined benefit (DB) pension scheme for workers at the firm's Sunderland plant
Posted: 03/6/20
A report by the UK Nuclear Weapons Financing Research Group has raised concerns about the number of pension providers investing in companies that are producing nuclear weapons
Posted: 03/6/20
The deficit of UK defined benefit (DB) pension schemes increased by £30bn to £240bn over May, according to figures from PwC’s Skyval Index
Posted: 3/6/20
The Marks & Spencer (M&S) defined benefit (DB) pension scheme surplus has increased by almost £1bn over the past year, reaching £1,902.6m as at 30 March 2020 (£914.3m in 2019)
Posted: 03/6/20
The Financial Ombudsman Service (FOS) received 5,528 new complaints about pensions in the 2019/20 financial year, down by 26 per cent on the year before
Posted: 3/6/20
PMI director of policy and external affairs, Tim Middleton, discusses the importance of pension schemes supporting their members during the Covid-19 crisis
Posted: 2/6/20
Herbert Smith and Freehills has outlined four pension cost saving steps for employers, as many firms look to reduce costs and preserve cash amid the ongoing coronavirus pandemic
Posted: 2/06/2020
Demand for fixed-term annuities is on the rise, with application numbers increasing by 71 per cent between April and May, according to LV=
Posted: 2/6/20
The Financial Conduct Authority (FCA) has stopped Surrey-based cross-border financial consultancy, Montfort International, from conducting new investment or pension business
Posted: 2/6/20
Industry bodies have published joint guidance on the implications of Covid-19 for pension scheme financial reports and audits
Posted: 2/6/20
The accounting deficit of defined benefit (DB) pension schemes for FTSE 350 companies rose from £52bn at the end of April 2020 to £72bn on 29 May, according to Mercer
Posted: 2/6/20
PLSA head of DC, master trusts and lifetime savings, Lizzy Holliday, reflects on five years of pension freedoms and discusses how to move forward in ensuring best outcomes for savers
Posted: 1/6/20
One in ten (10 per cent) working age people with pensions have either reduced contributions or stopped saving altogether due to the coronavirus crisis, according to research from Scottish Widows.
Posted: 1/6/20
Greencoat Capital LLP (Greencoat) has acquired the Sleaford Renewable Energy Plant in Lincolnshire from Glenmont Partners
Posted: 1/6/20
USS Investment Management Limited, acting on behalf of the Universities Superannuation Scheme (USS), has announced exclusion plans for companies in a number of sectors deemed “financially unsuitable” for the pension scheme
Posted: 1/6/20
The Unomedical Pension Plan has completed a £10m buyout with Aviva, covering all 65 members of the scheme
Posted: 1/6/20
Employers will be required to resume the payment of minimum workplace pension contributions to furloughed workers from August
Posted: 1/6/20
It is “almost inevitable” that the government will target pension tax relief to help deal with the cost of the coronavirus pandemic, according to deVere Group founder and CEO, Nigel Green
Posted: 29/5/20
The number of ‘small’ pension scheme buy-in and buyout transactions could increase by 25 per cent year-on-year in 2020, according to Lane Clark & Peacock (LCP)
Posted: 29/5/20
Nationwide Building Society has announced that it will close its defined benefit (DB) pension scheme to future accrual on 31 March 2021
Posted: 29/5/20
The latest news in brief and mandates from the past seven days
Posted: 29/5/20
Transaction costs make up an average of 37 per cent of the total costs relating to pension scheme investments, data from CACEIS has revealed
Posted: 29/5/20
ITM has called for data quality to be a compulsory inclusion in chair’s statements, in order to help “accelerate the drive” for better data
Posted: 29/5/20
The Pensions and Lifetime Savings Association (PLSA) has published a new template to help defined contribution (DC) scheme trustees in producing their annual chair’s statement
Posted: 28/5/20
There was a “sense in the UK” that it was “too difficult to divest from tobacco because of fiduciary duty constraints”, Nest CIO, Mark Fawcett, has said
Posted: 28/5/20
Senior clinicians in the NHS Pension Scheme could be aided in adjusting their retirement savings to fit within their tax-free allowance by new flexibility proposals from the government
Posted: 28/5/20
The Daily Mail and General Trust (DMGT) defined benefit (DB) pension scheme net surplus has risen by £20m since the start of the year, to £352.1m at 31 March 2020
Posted: 28/5/20
Global society is on a “cusp of a generation” that demands a “pension to be proud of”, according to the film producer, director and writer, Richard Curtis
Posted: 28/5/20
Savers that increase their pension contributions ahead of a possible market rebound could see them make up for “years of savings neglect”, as well as recent losses due to Covid-19, PensionBee has said
Posted: 28/5/20
Over seven out of ten (71 per cent) portfolio managers are currently unable to view the performance attribution of environmental, social and governance (ESG) investment factors, RiskFirst has said
Posted: 28/5/20
LawDeb Pension Trustees, the sole corporate trustee of The British Bankers’ Association Pension Scheme (BBA), has completed a £95m buy-in with Aviva
Posted: 28/5/20
Trustees should re-evaluate their defined benefit (DB) schemes’ endgame and investment strategies because of the challenges caused by coronavirus, according to State Street Global Advisors (SSGA)
Posted: 27/5/20
The government has not had any “recent discussions” on the future of the state pension triple lock, according to Pensions Minister Guy Opperman, despite recent calls for it to be scrapped
Posted: 27/5/20
The Pensions and Lifetime Savings Association (PLSA) has launched a forum to gather views on the practical ways that the retirement savings sector can address climate risk
Posted: 27/5/20
Defined benefit (DB) pension transfers are likely to take longer amid the coronavirus crisis, according The Pensions Regulator (TPR) chief executive, Charles Counsell
Posted: 27/5/20
The trustees of the 3i Group Pension Plan have completed a £650m bulk annuity deal with Legal & General (L&G)
Posted: 27/5/20
The value of people’s defined benefit (DB) pensions outstrips average property value for the majority of Britain, research by Hymans Robertson has found
Posted: 27/5/20
The Money and Pensions Service (Maps) has launched a new advisory group to provide long-term support for its future Corporate Strategy and UK Strategy for Financial Wellbeing
Posted: 27/5/20
The government, financial bodies and regulators have joined forces to publish a guide for pension savers in response to an increase in enquiries during the Covid-19 pandemic
Posted: 27/5/20
FTSE 100 companies’ pension schemes were in their best position for 20 years at the start of the coronavirus crisis, according to LCP’s latest Accounting for Pensions (AfP) report
Posted: 26/5/20
Aston Martin Lagonda’s new chief executive, Tobias Moers, will receive a pension in line with the majority of the workforce after he joins the automotive giant on 1 August
Posted: 26/5/20
Tens of thousands of married older women could be entitled to a higher rate of state pension than they are receiving, analysis by Lane Clark and Peacock (LCP) has revealed
Posted: 26/5/20
As many as 1.5 million workers aged over 50 could delay their retirement as a direct result of the Covid-19 pandemic, according to Legal & General (L&G) Retail Retirement
Posted: 26/5/20
One in 20 savers switched their pension and investments to more socially or environmentally responsible funds over the past year, research by Nest has shown
Posted: 26/5/20
Pension fraud has been the third most commonly occurring type of financial scam during the Covid-19 pandemic, according to research from Canada Life
Posted: 26/5/20
The Local Government Pension Scheme (LGPS) has cut its funding deficit from £37.2bn in 2016 to £6.0bn in 2019, according to its Advisory Board's annual report
Posted: 22/5/20
The Association of Professional Pension Trustees (APPT) has announced the full accreditation of its first 14 professional trustees
Posted: 22/5/20
PensionBee has stressed the need for greater pension scam awareness, as its research found almost two thirds of savers were unable to correctly identify some of the most common scam tactics
Posted: 22/5/20
Defined contribution (DC) scheme members have become more interested in environment, social and governance (ESG) issues amid the coronavirus pandemic, according to the Defined Contribution Investment Forum (DCIF)
Posted: 22/5/20
Victims of the Troubles plan to begin legal action on Friday over the Northern Ireland (NI) Executive's failure to start the planned pension scheme, despite it being signed into legislation in January
Posted: 22/5/20
Pensions Age news editor, Jack Gray, reflects on Mental Health Awareness Week and why the pensions industry has an important role to play in supporting those struggling during the Covid-19 crisis
Posted: 22/5/20
United Utilities’ defined benefit surplus stood at £754m at 31 March 2020, according to its annual results, up from a surplus of £484m in March 2019
Posted: 22/5/20
The latest news in brief and mandates from the past seven days
Posted: 22/5/20
It is 'critical' that companies have the best leaders and governance structures to make the right decisions during the coronavirus crisis, the Local Authority Pension Fund Forum (LAPFF) has said
Posted: 21/5/20
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: 21/5/20
Draft insolvency legislation introduced by the government on Wednesday could harm defined benefit (DB) pension schemes and the Pension Protection Fund (PPF), according to Herbert Smith Freehills (HSF)
Posted: 21/5/20
The government has said that it does not believe that there are “proportionate interventions” to be made at this time in pension investments affected by the Covid-19 crisis
Posted: 21/5/20
Defined benefit (DB) transfer request volumes are on the road to recovery after having declined sharply amid the coronavirus crisis, according to LCP
Posted: 21/5/20
A ‘first of its kind’ transaction by a UK pension scheme to secure member benefits using capital provided by a third party investor was completed last month
Posted: 21/5/20
The Pensions Regulator (TPR) has urged defined contribution (DC) pension trustees to monitor investments in alternative funds during Covid-19, as they may be unintentionally breaching pension legislation
Posted: 21/5/20
Over a quarter (29 per cent) of Local Government Pension Scheme (LGPS) funds have already begun work to align with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, according to a survey by the Pensions and Lifetime Savings Association (PLSA)
Posted: 21/05/2020
Pasa board director, Girish Menezes, discusses the merits of the organisation's accreditation process and the progress that has been made in improving pension administration standards
Posted: 21/5/20
Defined contribution (DC) pension schemes have partially recovered from coronavirus market turmoil, leading to improved expected retirement income estimates across all age groups in comparison to March, according to Hymans Robertson
Posted: 20/5/20
More than half (56 per cent) of people who reached state pension age since April 2016 do not receive the full amount of the new state pension, according to analysis from Just Group.
Posted: 20/5/20
The indirect consequences of the Covid-19 crisis could have a bigger impact on future life expectancy than the immediate consequences of the pandemic, research from the Pensions Institute has revealed
Posted: 20/5/20
Less than one in 10 (7 per cent) savers plan to use all their pension savings to buy an annuity, according to analysis by CoreData Research
Posted: 20/5/20
More than a third (37 per cent) of defined benefit (DB) scheme managers and trustees are struggling to make decisions amid the uncertainty of the Covid-19 pandemic, a Willis Towers Watson survey has revealed
Posted: 20/5/20
The government should prioritise fairness and avoid hurrying state pension increases, after inflation fell to its lowest rate in almost four years, according to Aegon
Posted: 20/5/20
HMRC’s over-taxing of pension withdrawals is “set to get more penal” during the lockdown period, according to Lane Clark and Peacock (LCP) partner, Steve Webb
Posted: 20/5/20
The number of employers that are requesting deficit recovery contribution (DRC) suspensions or reductions will continue to rise, according to The Pensions Regulator (TPR)
Posted: 20/5/20
Local government pension scheme (LGPS) funds are less concerned than the average scheme about the strength of their employer during the coronavirus crisis, according to data from the Pensions and Lifetime Savings Association (PLSA)
Posted: 19/5/20
A lack of comprehensive data on the number and scale of pension scams can place limitations on the industry’s ability to effectively protect savers, the Pensions Policy Institute (PPI) has said
Posted: 19/5/20
Changes to the state pension age for women continued to drive the number of people in employment, which reached record levels in Q1 2020, according to the Office for National Statistics (ONS)
Posted: 19/5/20
The Association of Consulting Actuaries (ACA) has elected Hymans Robertson equity partner and scheme actuary, Patrick Bloomfield as its new chair
Posted: 19/5/20
Two fifths (40 per cent) of over-65s who are still working are not confident they have enough savings to provide sufficient income for retirement, according to SunLife
Posted: 19/5/20
The lowest income group of pensioner households receive, on average, less state pension than all other higher income groups, according to analysis from Just Group
Posted: 19/5/20
Employer requests to defer pension deficit recovery contributions (DRC) are more likely to be accepted if it is for a longer period of time, data from PricewaterhouseCoopers (PwC) has suggested
Posted: 18/5/20
The ‘long awaited judgement’ in the Adams v Carey Pensions case has now been published, with the claims against Carey Pensions dismissed on all grounds
Posted: 18/5/20
The Pension Protection Fund (PPF) has launched a new panel to provide support to trustees of schemes whose sponsoring employer in in the ‘stressed’ or ‘distressed’ stage of business recovery
Posted: 18/5/20
The Pensions Ombudsman (TPO) has upheld a complaint against Bradford & Bingley, clearing the Clydesdale Bank Scheme as a result
Posted: 18/5/20
Auto-enrolment (AE) minimum contribution increases have not boosted opt outs but could be problematic for vulnerable workers, according to the Institute for Fiscal Studies (IFS)
Posted: 18/5/20
The Pensions Regulator (TPR) has said that it “strongly disagrees” with those calling for its defined benefit (DB) funding code consultation to be rethought or abandoned
Posted: 18/5/20
An "overwhelming" majority of women approaching retirement would divest their pension from companies with poor pay practices, Legal and General Investment Management (LGIM) has found
Posted: 18/5/20
The number of firms offering defined benefit (DB) pension transfer advice fell “dramatically” in 2019 to just 41 per cent, analysis has revealed
Posted: 15/5/20
Pintent Masons legal director, Michael Jones, discusses the importance of cognitive diversity on trustee boards and how the industry can help to achieve it
Posted: 15/5/20
The Pensions Ombudsman (TPO) has ordered NHS England to update an NHS Pension Scheme member’s pension record after the complainant alleged it failed to pay pension contributions
Posted: 15/5/20
The Pensions Ombudsman (TPO) has upheld a failure to pay complaint against Teddy Bear Corner Ltd (Teddy), and reported the firm to The Pensions Regulator (TPR) for its “complete disregard of the auto-enrolment (AE) regulations”
Posted: 15/5/20
The latest news in brief and mandates from the past seven days
Posted: 15/5/20
Lane Clark & Peacock (LCP) has been awarded accreditation from the Pensions Administration Standards Association (Pasa)
Posted: 14/5/20
Tesco has confirmed it will be cutting pension benefits for its executive directors to bring them in line with its wider workforce by the end of 2022
Posted: 14/5/20
The government had agreed to proceed with the merger of the Northumberland and Tyne & Wear Pension Funds following a consultation.
The Local Government Pension Scheme (LGPS) funds submitted a joint application to the Secretary of State for a merger to be effective from 1 April 2020
The Local Government Pension Scheme (LGPS) funds submitted a joint application to the Secretary of State for a merger to be effective from 1 April 2020
Posted: 14/5/20
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: 14/5/20
The Pensions Ombudsman (TPO) has upheld a complaint against Scottish Widows over its administration of a saver’s pension benefits
Posted: 14/5/20
The bulk annuity market has seen the widest range of pricing in over a decade due to ongoing market volatility, Aon has said
Posted: 14/5/20
Defined contribution (DC) to DC pension transfers must still be completed in "good time" to ensure savers don’t lose out, The Pensions Regulator (TPR) has stated
Posted: 13/5/20
The Pension Protection Fund (PPF) is reportedly “engineering” the appointment of a joint administrator to manage the ongoing investigation around the collapse of Laura Ashley
Posted: 13/5/20
Defined benefit (DB) transfer values climbed by around 3 per cent in April but the number of member transfers fell to a record low, according to XPS Pensions Group
Posted: 13/5/20
The Chancellor, Rishi Sunak, has been urged to scrap the state pension triple lock to try and regain some of the government’s financial losses resulting from the Covid-19 pandemic
Posted: 13/5/20
The Co-operative Pension Scheme (Pace) has completed its fourth buy-in deal of 2020, securing a £350m deal with Aviva
Posted: 13/5/20
The Pensions and Lifetime Savings Association (PLSA) has set up an industry group to support schemes in understanding their environmental, social and governance (ESG) and stewardship deadlines and duties
Posted: 13/5/20
Lockdown has had a “significant impact” on savers’ financial habits, according to PensionBee, as consumers begin to save more and withdraw less in an “era of uncertainty”
Posted: 13/5/20
IHS Markit has agreed pension risk transfer (PRT) transactions totalling £116.2m with Legal & General (L&G) for its schemes in the UK and the US
Posted: 13/5/20
The Lothian Pension Fund (LPF) has been urged to divest from Bank Hapoalim after its recent inclusion on the UN list of companies sustaining Israel’s illegal settlements
Posted: 13/5/20
Atlas Master Trust has outlined 15 steps for employers who are considering switching from single scheme defined contribution pension provision to a master trust
Posted: 12/5/20
TPR chief executive, Charles Counsell, warns that savers are under greater threat from scammers and poor financial decisions amid the Covid-19 crisis
Posted: 12/5/20
Secure Trust Bank has announced that its newly appointed chief financial officer (CFO), Rachael Lawrence, will receive a pension contribution rate in line with its general workforce’s
Posted: 12/5/20
The Pensions Ombudsman (TPO) has upheld a complaint against self-invested personal pension (Sipp) provider, Liberty Sipp Limited, over a failure to carry out sufficient due diligence when transferring member benefits
Posted: 12/5/20
The combined deficit of UK defined benefit (DB) pension schemes in the PPF 7800 Index
has decreased to £128.5bn at the end of April 2020, following three months of consecutive increases
has decreased to £128.5bn at the end of April 2020, following three months of consecutive increases
Posted: 12/5/20
Nearly one in five sponsoring employers are expected to suspend their pension deficit reduction contributions (DRCs) amid the current crisis, analysis by Isio has found
Posted: 12/5/20
The Association of Member Nominated Trustees (AMNT) has praised The Pensions Regulator (TPR), and the government, for taking a “proactive stance” in their support of pension schemes and trustees amid the current pandemic
Posted: 11/5/20
Nearly half (47 per cent) of 55-64 year olds are unaware that they can defer the state pension to claim a higher weekly guaranteed, inflation-linked pension, according to research by Just Group
Posted: 11/5/20
The Wales Pension Partnership (WPP) has appointed Robeco as its voting and engagement provider following a comprehensive search
Posted: 11/5/20
Defined benefit (DB) schemes saw their average deficit increase by 5.1 per cent in the first quarter of 2020, according to Legal & General Investment Management (LGIM)
Posted: 11/5/20
The Pensions Ombudmsan (TPO) has upheld three complaints against Vicknarasa Kugathasan, trading as 5 Star Food and Wine Ltd, and has subsequently reported the respondent to The Pensions Regulator (TPR) for failure to comply with pensions legislation
Posted: 11/5/20
Support amongst pension schemes for The Pension Regulator’s (TPR) proposed new Code of Practice on Scheme Funding is declining now that there is a better understanding of it’s implications, Aon has warned
Posted: 11/5/20
ACA chair, Jenny Condron, discusses why strong governance is imperative to ensuring member benefits continue to be paid during the Covid-19 crisis
Posted: 7/5/20
BT’s total pension deficit stood at £1.1bn at 31 March 2020, down from £7.2bn the year before, as liabilities dropped from £59.4bn to £53.3bn, according to its full year results
Posted: 7/5/20
The Pensions Ombudsman (TPO) has upheld two complaints against the Border Steelwork Structures Limited (BSSL) over failures to pay contributions and has formally reported the firm to The Pensions Regulator
Posted: 07/05/2020
The AA’s DB pension deficit decreased from £218m to £162m year-on-year, as of 31 January 2020, driven by a 10 per cent increase in the AAUK scheme’s asset value to £2,472m
Posted: 7/5/20
The latest news in brief and mandates from the past seven days
Posted: 7/5/2020
Pensions are the most valued benefit across all age groups, but almost half (41 per cent) of savers feel that employers do not care about employee retirement provision and could support them more, research by Lane Clark and Peacock has shown
Posted: 07/05/2020
The Pensions Ombudsman (TPO) has upheld a complaint against the Railways Pension Trustee Company over its response to a member’s application for augmentation of her early retirement
Posted: 6/5/20
Amidst the doom and gloom of the Covid-19 pandemic, finance firms are trying to do their bit to help those in need
Posted: 6/5/20
Just 5-10 per cent of scheme sponsors may be planning to take advantage of deficit reduction contribution (DRC) suspensions at present, the Society of Pension Professionals (SPP) has estimated
Posted: 6/5/20
A third (33 per cent) of over-50s don’t think they have enough money to provide them with a sufficient income for their retirement, SunLife research has shown
Posted: 6/5/20
Trustees of defined benefit (DB) schemes must give careful consideration as to how contributions will be ‘switched on’ again when considering a potential delay in payments, Lane Clark and Peacock (LCP) has warned
Posted: 6/5/20
ITV has agreed to defer £15m of deficit recovery contributions (DRC) into its pension schemes for a period of three months
Posted: 6/5/20
The Money and Pensions Service (Maps), alongside the Behavioural Insights Team (BIT) are expected to publish an evaluation report on recent trials designed to encourage greater uptake of Pension Wise guidance in Summer 2020
Posted: 5/5/20
The Government Actuary’s Department (GAD) has completed a project to transfer the pension benefits of around 1,500 ex-civil servants back into the Civil Service Pension Scheme
Posted: 5/5/20
Punter Southall Aspire has announced that is withdrawing from the master trust market and is seeking a “suitable home” for Aspire Savings Trust members
Posted: 5/5/20
Around 16 per cent of savers under 55 would consider offers of early pension access amidst coronavirus, with young savers being particularly vulnerable, AJ Bell has said
Posted: 5/5/20
Just one in 25 people instinctively think to tell their pension provider when they are moving house, new research from the Association of British Insurers (ABI) has revealed
Posted: 5/5/20
“Hidden traps” such as the Money Purchase Annual Allowance (MPAA) could await savers looking to access their pensions to bridge a short-term income gap amid the current crisis, LEBC has warned
Posted: 5/5/20
Over half (56 per cent) of financial advisers have seen an increase in the amount of client money invested in environmental, social and governance (ESG) funds over the past year, despite the majority (62 per cent) believing that clients don’t actually understand what ESG investing involves
Posted: 5/5/20
As Tom McPhail leaves the industry, he looks back on the pensions trends he has noticed during his 30+ year career
Posted: 4/5/20
The Pensions Regulator (TPR) has appointed Mel Charles as director of automatic enrolment (AE), where he will be responsible for leading the regulator's work on the initiative
Posted: 4/5/20
The Pension Protection Fund (PPF) has launched a five-year diversity and inclusion strategy, detailing plans to achieve year-on-year increases across all areas of diversity
Posted: 4/5/20
Burges Salmon partner, Clive Pugh, discusses TPR's proposed new data gathering powers and why it is important that the pensions industry understands the impact they may have
Posted: 4/5/20
Pension schemes ready to proceed with bulk annuities could have a “golden opportunity” amid the current pandemic, River and Mercantile has said
Posted: 4/5/20
The majority of defined benefit (DB) schemes with over £1bn of assets are now closed to future benefit accrual for the first time, according to data from Barnett Waddingham
Posted: 4/5/20
The Pensions Ombudsman (TPO) has upheld a complaint against the NHS Business Services Authority (BSA) over special class status (SCS) eligibility
Posted: 04/5/20
The accounting positions of defined benefit (DB) schemes in the FTSE 350 moved from a £10bn surplus to a £52bn deficit during April 2020
Posted: 1/5/20
The latest news in brief and mandates from the past seven days
Posted: 1/5/20
Managing volatility
In the latest Pensions Age podcast, Laura Blows speaks to Cambridge Associates head of European pension practice, Alex Koriath, about the Covid-related market volatility and how pension funds can prepare for the challenges ahead
De-risking options for pension schemes
In this latest Pensions Age podcast, Linklaters' Sarah Parkin talks to Laura Blows about the wide range of choice available to pensions schemes for the partial, or full, removal of their risks
Risk transfer opportunities
Laura Blows speaks to Lisa Purdy, Head of Fiduciary Distribution at Legal & General Investment Management and Gavin Smith, Pricing and Execution Director - UK PRT at Legal & General, about the impact of the recent market volatility on the bulk annuity and risk transfer market and the potential opportunities for the future
Bulk annuities during coronavirus
Laura Blows speaks to Just business development manager Prash Mehta about the impact of coronavirus on transactions
© 2019 Perspective Publishing Privacy & Cookies