_728 x 90_v2-2.jpg)
Latest News
-
Christopher Woolard appointed as FCA interim chief executive
-
AA proposals could cut member pensions in half - GMB
-
Pension Wise appointments increase by 49%
-
Over half of pension schemes targeting self-sufficiency – Barnett Waddingham
-
News in brief - 24 January 2020
-
Guest comment: ESG to continue as high priority in 2020
Archive News
PLSA policy lead for investment and stewardship, Caroline Escott, explains why ESG issues will continue to be at the forefront of the agenda in 2020
Posted: 24/1/20
Proposed changes to the AA pension scheme could see staff retirement income "slashed" by 49.8 per cent, according to the GMB union
Posted: 24/1/20
Over half of DB schemes are aiming for self-sufficiency, a recent poll by Barnett Waddingham has revealed
Posted: 24/1/20
Christopher Woolard has been appointed as interim chief executive of the Financial Conduct Authority (FCA) by the Treasury.
Woolard, who will replace Andrew Bailey on 16 March following his departure to become governor of the Bank of England, has served as the FCA’s executive director of strategy and competition, and is an executive member of the FCA board
Woolard, who will replace Andrew Bailey on 16 March following his departure to become governor of the Bank of England, has served as the FCA’s executive director of strategy and competition, and is an executive member of the FCA board
Posted: 24/1/20
The latest news in brief and mandates from the past seven days
Posted: 24/1/20
The number of people arranging appointments and using the digital service with Pension Wise increased by 49 per cent in 2018/19, according to the Money and Pensions Service (Maps)
Posted: 24/1/20
The amount of available equity to homeowners aged over 55-years-old has increased to over £381bn at the end of 2019, according to Canada Life
Posted: 23/1/20
The fastest pension provider service times for both defined contribution (DC) and defined benefit (DB) schemes have “stalled” over the last few years, according to Portafina
Posted: 23/1/20
Mothercare has agreed a revised payment schedule with its pension scheme trustees, reducing contributions over the next 15 months
Posted: 23/1/20
Fieldfisher pensions partner, Jeremy Harris, discusses the pension implications of the incoming new IR35 rules
Posted: 23/1/20
The Pensions Minister, Guy Opperman, has warned that schemes can't "just wait for legislation", urging them to ensure their data is dashboard-ready
Posted: 23/1/20
More than a fifth (22 per cent) of Generation X have no pension and a further 10 per cent don’t know what kind of retirement savings they have, a survey has revealed
Posted: 23/1/20
Universities Superannuation Scheme (USS) defined contribution members will have access to private markets assets from February 2020, the scheme has announced
Posted: 22/1/20
The Pensions Ombudsman (TPO) has upheld an ill health benefits complaint against the NHS Pension Scheme, ordering the scheme to review its decision
Posted: 22/1/20
Incoming Sainsbury’s chief executive, Simon Roberts, is set to receive a pension allowance in line with the benefits received by the supermarket chain’s workforce
Posted: 22/1/20
Local Government Pension Scheme (LGPS) pooled investment funds are estimated to have saved £155m since their creation in November 2015
Posted: 22/1/20
Executive remuneration levels have remained a key concern for pension scheme shareholders over the last year, a Pensions and Lifetime Savings Association (PLSA) report has revealed
Posted: 22/1/20
Many in the pensions industry have welcomed the new Financial Wellbeing Strategy launched by the Money and Pensions Service (Maps) today (21 January), but warned that there are challenges that must be overcome
Posted: 21/1/20
The Money and Pensions Service (Maps) has launched its 10-year financial wellbeing strategy, which includes the aim of getting five million more workers saving for later life
Posted: 21/1/2020
The Financial Conduct Authority (FCA) has announced that it will conduct a review into the retirement advice given to savers
Posted: 21/1/20
The Backto60 campaign, which represents women born in the 1950s and affected by state pension age equalisation, has been granted permission to appeal on all grounds by the High Court
Posted: 21/1/20
Stagecoach has brought the government to court, claiming that the Department for Transport (DfT) acted unlawfully in barring its rail franchise bids due to pension concerns
Posted: 21/1/20
Industry experts have called on the government to provide better pension provision support for those in self-employment, after data from the Office for National Statistics revealed the number of self-employed people has now passed 5 million
Posted: 21/1/20
An increase in the number of schemes completing de-risking deals is expected in 2020, after 2019 saw the market dominated by a small number of "mega deals", according to Willis Towers Watson
Posted: 21/1/20
Delays in changing the lower age limit for automatic enrolment (AE) will result in an £18,000 hit to young workers’ pensions, Royal London has revealed
Posted: 20/2/10
Two-thirds (66 per cent) of early retirees were pushed into leaving work by factors outside of their control, according to a Just Group survey
Posted: 20/1/20
AA, the roadside recovery provider, has announced a consultation on proposed changes to its defined benefit (DB) pension scheme, which the GMB union has described as a “nightmare” for members
Posted: 20/1/20
The UK is the 'leading European market' for environmental, social and governance (ESG)-related investments, with £6,439bn assets under management, according to joint research by Association of Luxembourg Fund Industry (ALFI) and PwC Luxembourg.
The joint report, Beyond their Borders: Evolution of foreign investments by pension funds, stipulated that European managers were taking the lead in applying ESG criteria to investments, with them expecting to observe 9.3 per cent growth from 2017 to 2025
The joint report, Beyond their Borders: Evolution of foreign investments by pension funds, stipulated that European managers were taking the lead in applying ESG criteria to investments, with them expecting to observe 9.3 per cent growth from 2017 to 2025
Posted: 20/1/20
Over 30 financial advice firms have stopped offering pension transfer advice in just three months, due to issues obtaining affordable professional indemnity cover, the Personal Finance Society (PFS) has revealed
Posted: 20/1/20
Over 30 financial advice firms have stopped offering pension transfer advice in just three months due to issues obtaining affordable professional indemnity cover, the Personal Finance Society (PFS) has revealed
Posted: 20/1/20
As much as £2.85bn is ‘languishing untouched’ in dormant pension accounts in Switzerland, research by deVere group has revealed
Posted: 20/1/20
There is strong cross-party and frontbench support for a new pensions commission, according to joint research from the Fabian Society and Bright Blue
Posted: 17/1/20
The High Court has today (17 January) ruled that the ‘controversial’ changes made by Secretary of State for Health and Social Care to the NHS Pension Scheme in 2019 were unlawful
Posted: 17/1/20
The pensions dashboard could cost businesses up to £1.48bn, the Department for Work and Pensions (DWP) estimates in its Pension Schemes Bill Impact Assessment report
Posted: 17/1/20
The Pensions Ombudsman (TPO) has upheld a complaint against the Central Networks Group of the Electricity Supply Pension Scheme over ill health benefits
Posted: 17/1/20
The latest news in brief and mandates from the past seven days
Posted: 17/1/20
A link between underfunding in DB schemes and investment risk has been revealed in The Pension Protection Fund's (PPF) latest The Purple Book, although the overall trend for de-risking has continued
Posted: 17/1/20
44 per cent of employers have seen high-earning employees leave their firms' pension schemes due to the current restrictions in tax relief, the Association of Consulting Actuaries (ACA) has revealed
Posted: 17/1/20
As much as £37bn could be sitting in unclaimed pensions, according to estimates from Profile Pensions
Posted: 16/1/20
The Association of Consulting Actuaries (ACA) has called on the government to set out a timetable for implementing reforms to the auto-enrolment (AE) system
Posted: 16/1/20
Property wealth has delivered over £13bn in extra income via equity release products, analysis by AJ Bell has revealed
Posted: 16/1/20
The Treasury is preparing to give tax relief to those earning more than £110,000 in an attempt to solve the NHS pensions crisis
Posted: 16/1/20
Opportunities for environmental, social and governance (ESG) investment are lacking, according to 29 per cent of pension professionals surveyed in a joint industry report
Posted: 16/1/20
Green Party MP for Brighton Pavilion, Caroline Lucas, has called for the parliamentary pension fund to divest from fossil fuels during a House of Commons debate
Posted: 16/1/20
The trustees of the Post Office section of the Royal Mail Pension Plan (RMPP) are planning on converting their buy-in policy with Rothesay Life into a buyout policy
Posted: 15/1/20
Royal London has become the latest UK-based firm to sign up to the UN-backed Principles of Responsible Investment (PRI)
Posted: 15/1/20
The number of workers being auto-enrolled in workplace pension schemes slowed in December, according to the latest figures from The Pensions Regulator (TPR)
Posted: 15/1/20
The Consumer Prices Index (CPI) rate of inflation has declined to 1.3 per cent over December, below the Bank of England’s 2 per cent target and hitting its lowest level since November 2016
Posted: 15/1/20
One in three UK savers are expecting to retire with an average debt of £17,460 this year, new research by Key has revealed
Posted: 15/1/20
Investors are expecting an increase in the level of investment from pension funds in long income property over the next two years, research from Alpha has revealed
Posted: 15/1/20
The combined deficit of UK defined benefit pension schemes in the PPF 7800 Index is estimated to have halved during December, according to the Pension Protection Fund (PPF)
Posted: 14/1/20
Defined benefit (DB) transfer values fell for the fourth consecutive month in December, falling from £241,700 at the end of November to £238,800, according to XPS Pensions
Posted: 14/1/20
Lane Clark & Peacock (LCP) has announced that it has appointed former Pensions Minister, Sir Steve Webb, as a partner
Posted: 14/1/20
Only 55 per cent of those entering drawdown have taken an income, with 45 per cent simply taking the tax-free cash sum, new analysis from Hargreaves Lansdown has revealed
Posted: 14/1/20
The Investment Association (IA) has issued a ‘red-top’ to WH Smith after it revealed its chief executive, Carl Cowling, is receiving a pension contribution of 12.5 per cent of his salary
Posted: 14/1/20
The joint consultation between the government and UK Statistics Authority (UKSA) on proposed changes to the Retail Prices Index (RPI) has been delayed until the budget on 11 March
Posted: 14/1/20
Former BHS owner, Dominic Chappell, has been ordered to pay £9.5m into the company’s two pension schemes by The Pensions Regulator (TPR)
Posted: 14/1/20
Over a third (34 per cent) of pension professionals believe that the cost of regulation is too high and are concerned about its increasing cost, The Pension Management Institute (PMI) has revealed
Posted: 14/1/20
Pension schemes have been urged not to let automation be derailed by poor quality data in a white paper by the Pensions Administration Standards Association (Pasa)
Posted: 13/1/20
Nearly two-thirds (64 per cent) of pensioners that own a home are failing to claim the full amount of state benefits that they are entitled to, according to Just Group
Posted: 13/1/20
Over 1,000 people failed to report that a pension tax charge had been paid by their scheme on their behalf on their tax return in 2016/17, a freedom of information (FOI) reply obtained by Royal London has revealed
Posted: 13/1/20
Older savers with multiple private pension pots are more than two times less likely to have considered consolidating than their younger counterparts, according to Canada Life
Posted: 13/1/20
Debenhams is rumoured to be in talks with Aviva about a potential buyout of its executive pension scheme to guarantee its members’ future benefits
Posted: 13/1/20
Pension freedom choices are causing anxiety for almost a quarter (23 per cent) of women when planning for retirement, new research from Fidelity International has revealed
Posted: 13/1/20
Just 26 per cent of trustee chairs think that professional trustees are essential for every pension scheme board, according to a joint industry report
Posted: 13/1/20
SPP administration committee member, Barry Mack, urges trustees to work with their administrator before the "tidal wave" of GMP work hits
Posted: 10/1/20
More than a quarter (28 per cent) of people aged over 55 believe they will never be financially independent, according to King Street Wealth Management (KSWM)
Posted: 10/1/20
Almost half of private pension holders approaching retirement age have no plans about how to access their savings, according to data from Canada Life
Posted: 10/1/20
The latest mandates and news in brief from the past week
Posted: 10/1/20
The British Medical Association (BMA) has confirmed that the government review of the tapered annual allowance is now "underway"
Posted: 10/1/20
Registration is now open for the 2020 Sustainable Investment Summit, a one-day conference that focuses on how return targets can be met through sustainable investing
Posted: 10/1/20
Pension schemes have called on Barclays to stop offering finances to fossil fuel companies in a shareholder resolution led by ShareAction
Posted: 9/1/20
The government has said that it is “difficult” to predict the impact of the tapered annual allowance on individual high earning doctors
Posted: 9/1/20
A former accountant has been ordered to pay £4,900 for misleading The Pensions Regulator (TPR) after he failed to enrol staff into a pension
Posted: 9/1/20
The National Grid UK Pension Scheme (NGUKPS) has agreed a UK corporate pension mandate with Octopus Renewables to invest £185m in British solar and onshore wind assets
Posted: 9/1/20
The Carillion Rail (GTRM) Pension Scheme has become the 1000th scheme to transfer to the Pension Protection Fund (PPF), securing retirement benefits for almost 4000 members
Posted: 9/1/20
Almost a third (30 per cent) of investment managers are still not considering environmental, social and governance (ESG) factors across all asset classes, LCP’s latest responsible investment survey has revealed
Posted: 9/1/20
Over half of UK employers aim to review their pension provider in the next six months amid concerns about a lack of innovation in the industry, according to survey data from Smarterly
Posted: 8/1/20
The Pensions Ombudsman has upheld a complaint against the NHS Pension scheme over ill health early retirement benefits, centring on regulation E2A
Posted: 8/1/20
Five January dates have now been confirmed for talks on reforming the Universities Superannuation Scheme (USS), with representatives from the University and College Union (UCU) and Universities UK (UUK) to attend
Posted: 8/1/20
The UK Mineworkers’ Pension Scheme and the British Coal Staff Superannuation Scheme have secured a $350m (£267m) settlement in a US securities fraud case
Posted: 8/1/20
Taking stronger and swifter action against pension scams should be the top priority for the government in 2020, a survey from the Society of Pension Professionals (SPP) has revealed
Posted: 8/1/20
The Pension Schemes Bill was introduced in the House of Lords today (7 January), beginning its parliamentary journey into becoming law
Posted: 7/1/20
The total defined benefit pension deficit of FTSE 350 firms remained roughly static over the calendar year, as it dropped by £1bn to £40bn, according to Mercer
Posted: 7/1/20
The Pensions Ombudsman (TPO) has upheld a complaint against the Green Coal Limited Occupational Pension Scheme after it failed to provide a member with information on his pension for over a year
Posted: 7/1/20
The amount of defined benefit and hybrid schemes and their memberships continued to decline in 2018/19, with the number of active members falling by 168,000 year-on-year
Posted: 7/1/20
Almost half (43 per cent) of NHS employees consider themselves to have a low understanding of the annual allowance, according to research by First Actuarial
Posted: 7/1/20
Chancellor Sajid Javid has announced that the next Budget will take place on 11 March 2020, with pension announcements relating to the Conservative Party election manifesto expected
Posted: 7/1/20
The National Employment Savings Trust (Nest) has announced that its subsidiary, Nest Invest, has been approved as an occupational pension scheme by the Financial Conduct Authority (FCA)
Posted: 6/1/20
PPI associate policy researcher, Anna Brain, discusses why generation X need to be proactive in saving for retirement
Posted: 6/1/20
Equity release products are now being offered at record low interest rates to "tempt" older savers, according to new analysis by Defaqto
Posted: 6/1/20
Around 11,000 people are set to face a combined cut of approximately £33m to their state pension in April 2020, a freedom of information request from Royal London has revealed
Posted: 6/1/20
Nearly all (95 per cent) scheme members have said that the majority pension schemes have made no environmental, governance and social (ESG) changes to portfolios, despite increased focus and regulations on responsible investing
Posted: 6/1/20
ABI long-term savings policy adviser, Matt Burrell, discusses why multiple dashboards are necessary to give people control over their savings
Posted: 3/1/20
ReAssure Group has agreed to acquire Quilter’s insurance and pensions operations, Old Mutual Wealth Life Assurance Limited and Old Mutual Wealth Pensions Trustees Limited, for a total of £445m
Posted: 3/1/20
New regulations expected to be published in Q1 this year by the Financial Conduct Authority (FCA) could risk “dramatically reducing” the supply of advice for defined benefit (DB) members, according to Aegon
Posted: 3/1/20
The upcoming ‘Divorce Day’ (6 January) has brought further attention to the gender pensions gap, with Interactive Investor calling for greater attention to be paid to pensions as an asset throughout divorce proceedings
Posted: 3/1/20
Institutional investor confidence fell during December 2019 by 1.3 points to 79.7, primarily driven by a sharp drop in confidence from European investors, State Street Global Markets has revealed
Posted: 3/1/20
A vegan man is taking landmark legal action in a tribunal which is expected to decide for the first time whether veganism should be protected by law
Posted: 2/1/20
The government had said that there is “no date yet available” for a second reading of the Pension Schemes Bill, reintroduced in the Queen’s Speech on 19 December 2019
Posted: 2/1/20
More than three quarters (77 per cent) of millennials cite environmental, social and governance (ESG) investing as a top priority when considering potential investment opportunities, according to the deVere Group
Posted: 2/1/20
The Financial Conduct Authority’s (FCA) new investment pathways for drawdown providers and customers could lead to a “huge drop” in pension scams, according to APJ Solicitors
Posted: 2/1/20
Pensions experts have forecast a hectic 2020 for the industry, with the expected Pension Schemes Bill and increased calls for responsible investment in the spotlight
Posted: 2/1/20
The Pensions Ombudsman (TPO) has upheld a complaint against Planning Together and James Hay Partnership for delays in earmarking, investing and transferring the complainant's pension
Posted: 2/1/20
Universities and College Union (UCU) and Universities UK (UUK) will meet with Universities Superannuation Scheme (USS) representatives for talks on the future of the scheme in the new year
Posted: 23/12/19
The existing drawdown market is set to drive growth in the retirement advice sector in 2020, as advisers look for more flexible and innovative products, Curtis Banks has predicted
Posted: 23/12/19
The insurance market is expected to see a return to ‘normal’ levels in 2020 with a capacity to accommodate around £30bn worth of deals, industry experts have said
Posted: 23/12/19
Equitable Life policyholders with a 'with-profit' plan are in line to receive an extra payout of around £9,500 in January 2020
Posted: 23/12/19
Millions could be left to rely on state benefits as the median workplace pension for 55-64 year olds has "plummeted" from £106,000 to £71,000 in the last two years, new analysis from Equiniti has revealed
Posted: 23/12/19
The Association of Consulting Actuaries (ACA) has called for the full legislative standardisation of annual benefits statements (ABS), in response to the government's consultation
Posted: 23/12/19
Royal London has expressed concerns regarding proposals for a standardised shorter annual benefits statement, warning that key details could be omitted
Posted: 20/12/19
PLSA director of policy and research, Nigel Peaple, discusses the importance of bold government pension policy in 2020
Posted: 20/12/19
The latest news in brief and mandates from the past seven days
Posted: 20/12/19
Now Pensions has committed to two Chartered Insurance Institute (CII) Insuring Women's Futures pledges - the Financial Flexible Working pledge and Inclusive Customer Financial Lives pledges
Posted: 20/12/19
Over half (54 per cent) of savers say they would be less likely to use a pensions dashboard that contained only partial information on their pension savings, according to new research from AJ Bell
Posted: 20/12/19
Self-invested personal pensions (Sipp) provider and pensions consultancy Mattioli Woods has acquired chartered financial planning firm, The Turris Partnership, for £1.6m
Posted: 20/12/19
Pension schemes should be taking action now to engage with policy makers on potential RPI/CPI changes, according to Insight Investment
Posted: 19/12/19
The "complex judgement" today issued on the Pensions-Sicherungs-Verein VVaG v Günther Bauer case has left many in the industry unsure of the consequences to UK law
Posted: 19/12/19
The Pension Schemes Bill was reintroduced in the Queen's Speech today (19 December), following the Conservative Party's victory in the General Election
Posted: 19/12/19
The European Court of Justice (ECJ) has ruled that pension lifeboats, such as the Pension Protection Fund (PPF), should ensure that ex-employees of insolvent companies do not fall below the poverty line
Posted: 19/12/19
Pension Insurance Corporation (PIC) has announced a £160m debt investment into student accommodation for the University of York
Posted: 19/12/19
The Pension Protection Fund (PPF) has announced plans to introduce new services and consulting on its approach to measuring insolvency risk
Posted: 19/12/19
University College Union (UCU) has announced that strike ballots will open at a further 24 universities on Tuesday 7 January
Posted: 18/12/19
The government faces a potential annual pensions bill of up to £4bn after an employment tribunal declared that over 6,000 firefighters are entitled to a return to their pre-2015 pension schemes
Posted: 18/12/19
Pension schemes are "skirting" climate change duties despite new reporting regulations, according to ShareAction
Posted: 18/12/19
Trustees have been encouraged to engage early and transparently during corporate transactions by The Pensions Regulator (TPR)
Posted: 18/12/19
Nest has published its responsible investment report today (18 December), announcing that it will be "boosting efforts" to tackle the risks posed by climate change
Posted: 18/12/19
Nearly three quarters (74 per cent) of people are unaware of where their pension is invested, new research from Hargreaves Lansdown has revealed
Posted: 18/12/19
Scottish Widows has competed a £805m buy-in with the Electricity North West Group of the Electricity Supply Pension Scheme, sponsored by Electricity North West Limited
Posted: 18/12/19
A recruitment agency and its managing director have been ordered to pay £10,890 for avoiding their automatic enrolment obligations and misleading The Pensions Regulator (TPR)
Posted: 18/12/19
Master trusts are continuing to generate positive returns for members, though concerns are emerging around the amount of risk being taken during different life stages, according to Hymans Robertson
Posted: 17/12/19
Guy Opperman has been reappointed as Pensions Minister following the Conservative victory in the General Election
Posted: 17/12/19
The Financial Conduct Authority (FCA) has published regulations which extends the oversight of Independent Governance Committees (IGC) on workplace pension schemes
Posted: 17/12/19
The HSBC Master Trust has become the first new DC master trust to be authorised by The Pensions Regulator (TPR)
Posted: 17/12/19
The 23 individuals who run UK government departments had an average pension pot of £1,065,522 in 2018-19, new research from the TaxPayers' Alliance has revealed
Posted: 17/12/19
The Pensions Regulator (TPR) has warned that the increasing number of schemes pursuing risky investment strategies for higher returns could be damaging in the event of “adverse economic shocks”
Posted: 17/12/19
The Government Actuary Department (GAD) has concluded that the Scottish Local Government Pension Scheme (LGPS) is in a strong financial position
Posted: 17/12/19
The government could be facing a pension compensation bill of up to £1bn after the Supreme Court ruled in favour of part-time judges that were initially denied pensions
Posted: 17/12/19
The Pension Protection Fund (PPF) has confirmed that its levy rules will remain “broadly unchanged” for 2020/21 following a six-week consultation
Posted: 16/12/19
The executive arm of the UK’s largest private sector pension scheme, BT Pension Scheme Management (BTPSM), has acquired a majority stake in pensions software firm, Procentia
Posted: 16/12/19
Smart Pension has won a tender to be named as the preferred provider to deliver the secondary pension scheme in Guernsey, which is set to be introduced into legislation in 2020
Posted: 16/12/19
Rothesay Life has completed a full £255m buy-in with the ESAB Group (UK) Limited Pension & Life Assurance Scheme
Posted: 16/12/19
Almost three in four employers (73 per cent) believe that providing employees with a pension is no longer enough, new research from Smarterly has revealed
Posted: 16/12/19
King Street Wealth Management has challenged the pensions industry to leave behind initial adviser fees in order to “foster long-term thinking” with clients
Posted: 16/12/19
The FCA has published its long-awaited platform policy statement following its investment platform market study
Posted: 13/12/19
Proceedings against the head of a charity and trustee of its pension scheme have been adjourned until 31 January, The Pensions Regulator (TPR) has confirmed
Posted: 17/1/20
The Joint Expert Panel (JEP) has published its second report aimed at improving the governance and communication of the Universities Superannuation Scheme (USS)
Posted: 13/12/19
The pensions industry has called for “decisive action” from the incoming government on pensions tax issues, specifically those affecting the NHS and public sector workers
Posted: 13/12/19
The new government has been encouraged to prioritise pensions policy and follow through with their manifesto promises after the Conservative’s landslide election victory yesterday (12 December)
Posted: 13/12/19
The latest news in brief and mandates from the past seven days
Posted: 13/12/19
Pensions Minister Guy Opperman has retained his parliamentary seat of Hexham and likely his role as Pensions Minister
Posted: 13/12/19
The Conservative Party are expected to revive the Pension Schemes Bill, as promised in its manifesto, following its victory in the General Election
Posted: 13/12/19
Former Work and Pensions Committee chair, Frank Field, has lost his parliamentary seat of Birkenhead after 40 years as the town's MP
Posted: 13/12/19
Retail group Dixons Carphone’s defined benefit pension scheme deficit has increased by £71m year-on-year to total £585m, as of 26 October 2019
Posted: 12/12/19
The Office for National Statistics (ONS) latest figures on life expectancy have revealed the gap between regions in the UK, raising questions about a blanket state pension age
Posted: 12/12/19
The pensions industry is waiting on the result of the general election that may significantly affect the direction of pensions policy in the immediate future
Posted: 12/12/19
The Pensions Regulator (TPR) is seeking to prosecute an accountant that is accused of misleading the regulator after he failed to enrol staff into a workplace pension scheme
Posted: 12/12/19
Environmental lawyers at ClientEarth have criticised The Pensions Ombudsman’s (TPO) decision not to uphold a complaint against the Shell Contributory Pension Fund’s (SCPF) climate risk policies
Posted: 12/12/19
Over a third (34 per cent) of defined benefit pension trustees have taken steps to facilitate reputable financial advice for their members, Hymans Robertson has found
Posted: 11/12/19
The Stagecoach Group’s overall DB pension deficits have increased, from £197.7m in April to £285.2m in October 2019, its latest financial report has revealed
Posted: 11/12/19
The number of workers auto-enrolled in workplace pension schemes continued to steadily increase in November, according to The Pensions Regulator's (TPR) latest figures
Posted: 11/12/19
The average UK working adult plans to start taking benefits from their private pension from age 62, according to new research from Canada Life
Posted: 11/12/19
Mercer has launched the DB Forum, in association with Pensions Age, to look at the long-term future of defined benefit pension schemes across the UK
Posted: 11/12/19
Nearly a fifth (16.9 per cent) of people are comfortable in selecting a pension product without receiving financial advice, according to research from Aegon
Posted: 10/12/19
New Competition and Market Authority (CMA) requirements on the way trustees conduct their investment governance practices came into force today (10 December)
Posted: 10/12/19
Santander’s UK chief executive, Nathan Bostock, will have his pension allowance cut by over £400,000 over the next two years in order to meet new Investment Association (IA) guidelines
Posted: 10/12/19
Mothercare UK (MUK) has announced that its two defined benefit pension schemes and their members have been safeguarded following the company's fall into administration
Posted: 10/12/19
Defined Benefit (DB) pension schemes are improving their funding levels alongside de-risking investment strategies, according to research from PwC
Posted: 10/12/19
The combined deficit of the schemes in the PPF 7800 Index continued to fall in November, decreasing by £32.5bn to £71.1bn
Posted: 10/12/19
Pension withdrawals by those aged 76 and over have increased from £158.7m in 2017/18 to £247.5m, a 56 per cent increase, research from Salisbury House Wealth (SHW) has revealed
Posted: 9/12/19
More than two-thirds (70 per cent) of diversified growth funds (DGF) failed to meet their return target over the last 10 years, according to Willis Towers Watson (WTW)
Posted: 9/12/19
The value of pension scheme buyouts is set to quadruple over the next 10 years from the estimated £135bn in the 2010s, Mercer has predicted
Posted: 9/12/19
Defined benefit (DB) transfer values have continued to fall during November, decreasing from £244,200 at the end of October to £241,700, according to XPS Pensions
Posted: 9/12/19
The government’s auto-enrolment (AE) policies are “failing” employees in the construction sector, Unite has said
Posted: 9/12/19
Phoenix Group Holdings has announced its has proposed the acquisition of ReAssure Group for £3.2bn
Posted: 6/12/19
The British Medical Association (BMA) has said that “fundamental pension taxation reform” is the only long-term solution to the ongoing tapered annual allowance issues
Posted: 6/12/19
The Universities Superannuation Scheme (USS) has published its timeline for the 2020 valuation of the scheme and reiterated the responsibilities for the parties involved
Posted: 6/12/19
The latest mandates and news in brief from the past week
Posted: 6/12/19
Pensions Insurance Corporation (PIC) has invested £250m in debt issued by the City of London Corporation for a programme of projects in the Greater London area
Posted: 6/12/19
Pension wealth has risen to 42 per cent of people’s total wealth, up from 34 per cent 10 years ago, the Office for National Statistics (ONS) latest figures have revealed
Posted: 5/12/19
The Daily Mail and General Trust (DMGT) defined benefit (DB) pension schemes’ surplus has increased from £236m to £332m in six months, its latest financial report has revealed
Posted: 5/12/19
KPMG has announced that it has signed a conditional agreement to sell its UK pensions practice to NewCo
Posted: 5/12/19
The Pensions Regulator’s (TPR) overall performance ratings in 2018/19 have remained at a similar level to the previous year, its latest Perceptions Tracker survey has revealed
Posted: 5/12/19
The aggregate spending on defined benefit (DB) pensions by FTSE 350 firms has fallen by £4bn since 2018, representing the largest year-on-year fall in the last 10 years, Hymans Robertson has revealed
Posted: 5/12/19
The government is missing out on £40m by not recovering debts owed from individuals and businesses who have failed to comply with their pensions’ obligations, according to Clyde & Co
Posted: 5/12/19
Pension savers and investors taking an overly cautious approach towards their investments could be at risk of losing out on up to £93,058 in returns, according to research by Aegon
Posted: 4/12/19
Trustees have been warned that there are no ‘risk-free’ responses when it comes to transferring a member’s benefits out of a defined benefit pension scheme
Posted: 4/12/19
Eighty-three per cent of institutional investors believe there will be global downturn within the next five years, research has found
Posted: 4/12/19
The ‘Motherhood penalty’ continues to hit women’s pension savings, according to The People’s Pension, with one in five women (20 per cent) stopping or decreasing their pension savings
Posted: 4/12/19
The 'Frank Field test' has the biggest impact on how key decisions in relation to pension funding, security and corporate restructuring are made by pension schemes, according to Taylor Wessing
Posted: 4/12/19
The deficit of UK defined benefit (DB) pension schemes dropped from £220bn to £190bn during November, bringing it to its lowest point since May, according to the latest PwC Skyval Index
Posted: 4/12/19
Women in England are more reliant on income from the state pension in retirement than men, according to new research from the English Longitudinal Study of Ageing (ELSA)
Posted: 3/12/19
A third (33 per cent) of UK adults do not know how much money they have saved in their pension pots, research from MoneySupermarket has revealed
Posted: 3/12/19
Ten defined contribution master trusts could be liable for 25 per cent of the general levy going forward, despite only holding two per cent of assets, according to The People’s Pension (TPP)
Posted: 3/12/19
The overall FTSE 350 defined benefit pension deficit declined by £3bn during November to £38bn, according to Mercer
Posted: 3/12/19
Unilever has announced a number of proposals for the defined benefit section of its UK hybrid scheme, including the introduction of a ‘benefits envelope’ for all employers
Posted: 3/12/19
Unilever has today (2 December) briefed staff on proposals to close the DB section of its hybrid pension scheme for new starters, and reduce the value of pension provisions for existing members, a move which trade unions have said “smacks of opportunism”
Posted: 2/12/19
An overall loss of £14.7m caused by pension contribution charges and a rising pension deficit could lead to P&O Ferries being in danger of folding.
First reported in The Mail on Sunday, the companies pension schemes’ combined deficits increased from £67.1m at the end of 2017 to £92.5m a year later
First reported in The Mail on Sunday, the companies pension schemes’ combined deficits increased from £67.1m at the end of 2017 to £92.5m a year later
Posted: 2/12/19
More than half of UK pension fund members (61 per cent) would be comfortable for a proportion of their default workplace pension to be allocated into environmental investments, according to Investec Asset Management
Posted: 2/12/19
Pension funds across Europe expect to go into the next recession with their finances weaker than ever, according to a report by Amundi Asset Management
Posted: 2/12/19
Pension Insurance Corporation (PIC) has announced an investment of £195m of debt finance in City Property Glasgow Ltd, a subsidiary of the Glasgow City Council Group
Posted: 2/12/19
The Pensions and Lifetime Savings Association (PLSA) has called for a “full and thorough” review of the general levy, in response the Department for Work and Pensions (DWP) consultation paper
Posted: 29/11/19
The latest news in brief and mandates from the past seven days
Posted: 29/11/19
British Polar Engines (BPE) has entered into talks with The Pensions Regulator (TPR) and Pension Protection Fund (PPF) to resolve the long-term costs of its pension scheme
Posted: 29/11/19
The chief executives of Barclays and Santander are expected have their pension allowances cut to meet Investment Association guidelines, following a similar move by Lloyds Bank earlier this week (27 November)
Posted: 29/11/19
Almost half of British people (47 per cent) are not interested in introducing a Dutch-style collective defined contribution scheme (CDC) to the UK, according to research by LCP
Posted: 29/11/19
RPMI Railpen has acquired a wind farm under construction as a direct investment in the UK renewable energy sector
Posted: 28/11/19
The Labour manifesto, published last week, outlined plans to overhaul income tax which could "dramatically" boost pension tax incentives for higher earners, according to AJ Bell
Posted: 28/11/19
The Pensions Regulator (TPR) has published its new guidelines for trustees to meet new investment governance rules that are coming into force next month (December)
Posted: 28/11/19
Legal & General Investment Management (LGIM) has encouraged defined benefit scheme trustees to revisit their liability driven investment (LDI) strategies following a "substantial fall in interest rates"
Posted: 28/11/19
Schemes who have acted to protect their funding levels could be the most at risk to a "significant" fall in funding levels if RPI and CPIH are aligned, according to analysis from Barnett Waddingham
Posted: 28/11/19
XPS Pensions Group saw its pension administration and investment consulting businesses grow over the past year, resulting in total revenue growth of 8 per cent
Posted: 28/11/19
Lloyds Banking Group chief executive, Antonio Horta-Ososrio, will take a pension allowance cut from 33 per cent to 15 per cent of base salary to meet Investment Association (IA) guidance for 2020
Posted: 27/11/19
The Pension Wise advice website could be exacerbating unconscious bias and influencing financial decisions through the inclusion of a life expectancy calculator, according to research from the University of Stirling
Posted: 27/11/19
Two thirds (66 per cent) of retirees are unsure how to manage their retirement income, with just 12 per cent reducing their spending despite increasing life expectancy forcing retirement funds to cover a longer period, according to St. James’s Place
Posted: 27/11/19
Master trusts exiting the market have been urged to prepare their data and establish their requirements following the publication of the Pensions Administration Standards Association’s master trust transition guidance
Posted: 27/11/19
The Pensions Regulator (TPR) has announced that its director of auto-enrolment (AE), Darren Ryder, will be stepping down from the position and leaving the regulator
Posted: 27/11/19
More than four in five (84 per cent) UK adults are unaware that they pay annual charges on their pensions, according to Profile Pensions
Posted: 27/11/19
Election pledges to increase the national minimum wage would mean a ‘significant boost’ of around £2,000 to pension pots, due to the knock-on effect on auto-enrolment contributions, according to Aegon
Posted: 26/11/19
Thousands of pension scheme members who have failed to declare pension contributions on their tax returns could face “a large bill when HMRC finally catches up with them”, Royal London director of policy, Steve Webb, has warned
Posted: 26/11/19
Nearly three-quarters (72 per cent) of savers under the age of 35 do not think that the state pension will be around when they reach retirement, according to research from Hargreaves Lansdown
Posted: 26/11/19
European pension funds and sovereign wealth funds investing in emerging markets are driving up environmental, social and governance standards in the countries, according to a report
Posted: 26/11/19
The Pensions Administration Standards Association (Pasa) has published guidance on transitioning members to and from defined contribution master trusts
Posted: 26/11/19
Legal & General (L&G) has completed a £1.6bn buy-in with the National Grid UK Pension Scheme
Posted: 26/11/19
The European Pensions Awards 2020 are now open for entries
Posted: 25/11/19
The Wales Pension Partnership (WPP) has announced a new responsible investment policy
Posted: 25/11/19
Labour has confirmed the full details for its plans to provide pay-outs of up to £31,000 to 1950s born women affected by state pension age changes
Posted: 25/11/19
Around 200,000 couples claim child benefit in a way that could see them lose out on state pension income in later life, according to a freedom of information (FOI) response obtained by Royal London
Posted: 25/11/19
The Conservative manifesto has outlined plans to address the tapered allowance, pledging to hold an ‘urgent review’, in collaboration with the British Medical Association and Academy of Medical Royal Colleges, within the first 30 days should they be elected
Posted: 25/11/19
Secretary of State for Health and Social Care, Matt Hancock, has admitted that NHS England’s proposal to resolve the pensions taxation crisis “could constitute tax avoidance”, but said it is in “the wider public interest” to implement it
Posted: 25/11/19
Reporter Sophie Smith discusses why initiatives such as the Money and Pensions Service's 'Talk Pensions, Talk Money' week are a good start in getting people engaged with their finances, but more needs to be done
Posted: 22/11/19
The latest news in brief and mandates from the past seven days
Posted: 22/11/19
Legal and General has launched a new fintech-driven annuity comparison service, called Annuity Ready
Posted: 22/11/19
NHS England has confirmed an emergency plan to allow pension tax bills incurred by doctors to be paid through the ‘scheme pays’ option, in an open letter sent to leaders of the British Medical Association, Unison and a range of Royal Colleges
Posted: 22/11/19
Fewer than one in 10 people currently believe they will be financially comfortable when they stop working, according to estimations by NFU Mutual.
Posted: 22/11/19
University and College Union (UCU) members at 60 UK universities will go ahead with planned strike action over disputes regarding pay and pensions
Posted: 21/11/19
The Labour Party has promised to freeze the state pension age at 66, if it is elected in the upcoming General Election, in its manifesto published today (21 November)
Posted: 21/11/19
Almost one-fifth of people who have used property to generate income have done so in order to prepare for retirement
Posted: 21/11/19
A number of financial services providers have agreed to lobby the government to make changes to auto-enrolment, pension freedoms and pension sharing rules in an attempt to reduce the amount of impoverished female pensioners
Posted: 21/11/19
The pre withholding tax accounting surplus of the Royal Mail Pension Plan (RMPP) increased by £590m in the six months prior to 29 September to total £4.29bn
Posted: 21/11/19
The Liberal Democrat manifesto for the upcoming General Election does not include reform to the pension tax relief system, including scrapping the tapered annual allowance, despite being included in its 2017 manifesto
Posted: 21/11/19
A children’s nursery and director have been ordered to pay £8,200 at Brighton Magistrates’ Court for misleading The Pensions Regulator (TPR) and avoiding paying pensions for their staff
Posted: 21/11/19
A children’s nursery and director have been ordered to pay £8,200 at Brighton Magistrates’ Court for misleading The Pensions Regulator (TPR) and avoiding paying pensions for their staff
Posted: 21/10/19
Trustees have been urged to ensure they have their scheme rules and benefit specification reviewed by legal advisers early in the de-risking journey
Posted: 20/11/19
Discussing the importance of pension scheme data and complying with scheme rules
Posted: 20/11/19
The number of women without any pension arrangements has nearly doubled from 7 per cent in 2017 to 13 per cent and remains higher than the proportion of men without pension arrangements, Aegon has claimed
Posted: 20/11/19
As many as 50 per cent of self-employed workers could now be paying into a pension, a new study has claimed
Posted: 20/11/19
United Utilities has revealed that its defined benefit pension surplus rose by £215m in the six months prior to 30 September 2019 to reach £699m
Posted: 20/11/19
Pension schemes are falling behind on GMP equalisation timescales and a lack of clarity from HMRC is no excuse for stalling implementation, according to Aon
Posted: 20/11/19
The University and College Union (UCU) have accused university leaders of ‘playing games’, following an open letter published by the University and Colleges Employers’ Association (UCEA) and Universities UK (UUK) which appealed to staff at the 60 institutions where industrial action is scheduled to start next Monday
Posted: 19/11/19
The government plans to announce an emergency plan to allow pension tax bills incurred by doctors to be paid by the government through the scheme pays option
Posted: 19/11/19
The Carter & Parker staff retirement benefits plan has completed a buy-in for £9.3m with Canada Life
Posted: 19/11/19
Poor administration could cost schemes 2-4 per cent of their total liabilities when undertaking a bulk annuity transaction, according to Premier head of trustee secretarial services, Jay Solanki
Posted: 19/11/19
The Scottish government has introduced an interim policy that will give highly-paid NHS staff the option to get their employer pension contributions paid to them as part of their basic pay
Posted: 19/11/19
Canada Life has warned that many women could face an income “shock” in retirement due to their low levels of retirement saving
Posted: 19/11/19
Trustees should be more open and honest about their criteria when seeking transaction quotes, according to Just director of DB solutions, Tim Coulson
Posted: 19/11/19
PPI head of policy research, Daniela Silcock, discusses how concerns about contributions, investments and fees could be addressed
Posted: 18/11/19
The Pension Protection Fund (PPF) will complete its assessment of the Mothercare pension schemes "on or around" 11 December as the firm aims to avoid entering the pension lifeboat
Posted: 18/11/19
Diploma has reported that two of its pension schemes have seen a sharp increase in their deficit levels
Posted: 18/11/19
The Investment Association (IA) has published a set of definitions for responsible investment aimed at creating a common language that describes and categorises ESG investment approaches and products
Posted: 18/11/19
Phoenix Group has completed a £144m buy-in with the Aegon UK Staff Retirement and Death Benefit Scheme
Posted: 18/11/19
Hymans Robertson has recommended that Local Government Pension Schemes (LGPS) publish an enhanced governance compliance statement each year, which sets out how each fund complies with its governance responsibilities
Posted: 15/11/19
Urgent action is needed to address the possibility of a global pensions crisis as life expectancy increases have not been matched by pension policy, according to Group of Thirty (G30)
Posted: 15/11/19
The Defined Contribution Investment Forum (DCIF) has found that a large minority of pension providers believe that pension freedom rights should be subject to greater controls
Posted: 15/11/19
Meditor Holdings Limited (MHL) has confirmed that no changes will be made to the Carpetright pension schemes if its acquisition of the company is confirmed
Posted: 15/11/19
The chief executive of national financial planners LEBC has written to the UK’s main political parties, urging them to address the issue of “retirement poverty” among the self-employed
Posted: 15/11/19
The Pensions Regulator (TPR) has updated its trustee requirements when transferring a member's defined benefit pension pot to a defined contribution arrangement
Posted: 15/11/19
Two pensions organisations have called on the UK’s political parties to include commitments to increase pensions coverage and minimum auto-enrolment contribution rates in their election manifestos
Posted: 14/11/19
APJ Solicitors solicitor, Glyn Taylor, discusses the timeline of the Carey Pensions case so far and what they expect to happen from the court ruling when it does arrive
Posted: 14/11/19
A recruitment agency and nursery operator, along with two of their directors, have admitted lying to The Pensions Regulator (TPR) by falsely claiming staff had been auto-enrolled into workplace pension schemes
Posted: 14/11/19
The National Grid pension deficit increased by £980m in six months to total £1.2bn, as of 30 September, its half-year results have revealed
Posted: 14/11/19
Couples should think beyond the “honeymoon period” of early retirement and have plans in place to manage the probability that one partner may outlive the other by a significant period of time
Posted: 14/11/19
Society of Pension Professionals legislation committee member, John Wilson, calls for the industry to get ready for GMP equalisation
Posted: 13/11/19
The consumer price index (CPI) has fallen to 1.5 per cent, the lowest level since November 2016, according to the Office for National Statistics (ONS)
Posted: 13/11/19
Less people are receiving the full amount for the new state pension than they did under the old system, the Department for Work and Pensions has revealed
Posted: 13/11/19
The gender savings gap remains “unacceptable” according to Scottish Widows, despite its survey finding that women in the UK are saving more for their retirement than ever before
Posted: 13/11/19
The Pension Insurance Corporation (PIC) has converted an existing longevity swap for the Scottish Hydro Electric Pension Scheme into a £750m buy-in
Posted: 13/11/19
The combined deficit of the schemes in the PPF 7800 Index fell by £45.4bn over the course of October to £103.6bn, compared to £149bn at the end of September
Posted: 12/11/19
The number of workers newly auto-enrolled into a workplace pension scheme continues to be outweighed by the number of those not enrolled, according to the latest statistics from The Pensions Regulator (TPR)
Posted: 12/11/19
The Bank of England (BoE) Monetary Policy Committee (MPC) vote, which saw members voting to cut interest rates, could mean a difficult 12 months for pension schemes
Posted: 12/11/19
Industry professionals have called for reform in the way people save for retirement as the latest Office for National Statistics (ONS) showed an increase in self-employed and older workers
Posted: 12/11/19
Defined contribution pension schemes moving to master trusts could see cost savings of up to 20 per cent, according to analysis by Hymans Robertson
Posted: 12/11/19
The head of a charity and trustee of its pension scheme has admitted defrauding the scheme out of more than £250,000
Posted: 11/11/19
TPR chief executive. Charles Counsell, discusses the positive responses from schemes as the regulator increases its engagement
Posted: 11/11/19
More than half (54 per cent) of workers aged under 25 are unaware whether or not they have a workplace pension, according to research from Zippen
Posted: 11/11/19
There is a growing demand for greater flexibility around savings and pension products, specifically amongst younger employees and those within the gig economy, the Association for Consulting Actuaries (ACA) has said
Posted: 11/11/19
The major political parties are expected to adopt pension policies that do not take major risks and avoid ‘radical reform’, according to Royal London
Posted: 11/11/19
The Association of Consulting Actuaries (ACA) supports the pension dashboard initiative as a great advance in helping individuals to ultimately see their total pension savings in one place
Posted: 8/11/19
Standard Charted chief executive, Bill Winters, has agreed to take a cut of 50 per cent, or £237,000, to his annual pension allowance following shareholder pressure
Posted: 8/11/19
The latest news in brief and mandates from the past seven days
Posted: 8/11/19
The NHS regulator has written to UK hospitals instructing them to pay doctors additional salary in lieu of pension contributions to stifle the ongoing pension crisis
Posted: 8/11/19
The average amount of money a pension scam victim loses is the equivalent to losing 22 years’ worth of savings in 24 hours
Posted: 8/11/19
The Pensions and Lifetime Savings Association (PLSA) has urged the next government to help everyone reach a better income in retirement, emphasising that pensions cannot be allowed to become a back-burner issue
Posted: 7/11/19
The Sainsbury’s defined benefit pension surplus increased by £423m in the six months preceding September 2019 to £1,382m
Posted: 7/11/19
Defined benefit transfer values dropped from £254,300 at the end of September to £244,200 at the end of October, according to the latest XPS Pensions Group’s Transfer Value Index, representing the largest drop in the index since it was created
Posted: 7/11/19
Collective action from the pensions industry, employers and the government has been urged to help ‘generation X’ ensure that they have an adequate income in retirement
Posted: 7/11/19
Independent schools opting out of the Teachers' Pension Scheme (TPS) have been urged to “shop around” and take advice before choosing a new pension arrangement
Posted: 7/11/19
The London Collective Investment Vehicle (LCIV) has launched a new infrastructure fund which focuses on responsible and sustainable investments
Posted: 6/11/19
The Marks and Spencer (M&S) pension surplus increased by £77m to £991.3m in the six months up to September 2019, following two buy-ins in April
Posted: 6/11/19
Employees who become self-employed could lose out on over £100,000 in retirement if they do not increase their contributions, Aegon has warned
Posted: 6/11/19
The Pensions and Lifetime Savings Association (PLSA) has urged the Pension Protection Fund (PPF) to provide greater flexibility around its levy payments
Posted: 6/11/19
The Pensions Climate Risk Industry Group (PCRIG) will draft guidance for trustees on climate risk using recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD).
PCRIG is formed of the Department for Work and Pensions (DWP) and the Department for Business, Energy and Industrial Strategy, alongside trustees, consultants, investment managers, civil society groups and representative bodies
PCRIG is formed of the Department for Work and Pensions (DWP) and the Department for Business, Energy and Industrial Strategy, alongside trustees, consultants, investment managers, civil society groups and representative bodies
Posted: 6/11/19
The Pensions Regulator (TPR) has authorised the 37th and final DC master trust – Salvus Master Trust
Posted: 5/11/19
Universities Superannuation Scheme (USS) members from 60 universities will take strike action between 25 November and 4 December over proposed changes to the scheme
Posted: 5/11/19
The Academy of Medical Royal Colleges (AMRC) has branded the government's proposals to improve the NHS Pension Scheme as “insufficient” in its consultation response
Posted: 5/11/19
The Society of Pension Professionals (SPP) has argued that early engagement with the pensions industry is key to overcoming data challenges facing the pensions dashboard
Posted: 5/11/19
Mothercare and its pension trustees are holding talks in an attempt to save the schemes from entering the Pension Protection Fund as the company nears collapse
Posted: 5/11/19
The focus of Parliamentarians is now on the first December general election in most people’s living memory, one that is sure to be dominated by Brexit
Posted: 5/11/19
Three quarters of employers believe that the current pension tax structure is too complicated and needs simplification, according to the Association of Consulting Actuaries (ACA)
Posted: 4/11/19
The deficit of UK defined benefit pension schemes decreased by £70bn in a volatile October to £340bn, according to PwC’s latest Skyval Index
Posted: 4/11/19
The Work and Pensions Committee has labelled the government’s decision not to commit to a published timetable for the rollout of the pensions dashboard as “extremely disappointing”
Posted: 4/11/19
Pensions savers should think twice before they raid their pension savings to fund the purchase of a second property, Royal London has said
Posted: 4/11/19
The pension deficit for FTSE 350 firms decreased by £9bn in October to £41bn in a volatile month, Mercer has revealed
Posted: 4/11/19
Master trusts are trailblazers in terms of the standard and quality of governance, The Pensions Regulator (TPR) executive director David Fairs has said, and that the regulator would like to see master trusts ‘go further’ and lead the way with implementing ESG, at-retirement product innovation and trustee board diversity
Posted: 01/11/2019
The funding code will still appear independently of the Pensions Bill, The Pensions Regulator executive director David Fairs has confirmed
Posted: 01/11/2019
The latest news in brief and mandates from the past seven days
Posted: 01/11/19
The government should immediately cut the current £10,000 auto-enrolment earnings trigger, according to the Nest members' panel
Posted: 01/11/19
Pensions Minister Guy Opperman has said that the government will introduce legislation designed to force schemes and providers to issue short and simple pension statements if they do not take on its recommendations on a voluntary basis
Posted: 01/11/19
New retirement trends research from Fidelity International suggests that more than half of UK adults are planning to keep working in some capacity during their retirement
Posted: 31/10/19
Pension providers are calling on the government to urgently review its approach to the taxation of pension freedoms withdrawals in light of news that a record £54 million was repaid to savers who were overtaxed on withdrawals in the three months to September 2019
Posted: 31/10/19
Taking 10 years out of work to raise a child could mean losing around a third of a private pension, the equivalent of about £2,500 a year, according to Canada Life
Posted: 31/10/19
Total global retirement assets declined in 2018, according to the OECD, on the back of weak equity markets in the fourth quarter of the year
Posted: 30/10/19
An individual hoping to achieve a moderate level of retirement income will need to save around a quarter of their earnings each month, according to the Institute and Faculty of Actuaries (IFoA)
Posted: 30/10/19
The upcoming General Election puts planned pension reforms in jeopardy, as the current Pension Schemes Bill will go no further with parliament set to be dissolved
Posted: 29/10/19
Over £30bn has been flexibly withdrawn from pensions since the introduction of pension freedoms in 2015
Posted: 30/10/19
Forty-five per cent of doctors have decided to retire earlier than planned, with 86 per cent of those citing pensions taxation as their reason why, according to the Royal College of Physicians (RCP)
Posted: 30/10/19
The Pensions and Lifetime Savings Association (PLSA) has found that pension professionals strongly support DB consolidation — as long as they can be confident that member outcomes would be improved by the process
Posted: 30/10/19
Pension schemes adopting the latest mortality figures from the Institute and Faculty of Actuaries could see their liabilities increase by more than 1 per cent
Posted: 29/10/19
The government will continue to uprate the state pension in five countries in Europe beyond 2023 if there is a no-deal Brexit
Posted: 29/10/19
The Financial Conduct Authority (FCA) has been ordered to address a complaint made by The Association of Member Nominated Trustees’ (AMNT) over investment managers’ treatment of pension fund ESG stewardship policies
Posted: 29/10/19
There will be a marked increase in the use of alternative methods of de-risking among DB schemes within the next ten years, according to the Pensions Policy Institute (PPI)
Posted: 29/10/19
Institute of Development Studies, director of finance and operations, Tim Catherall, responds to a guest comment by Overseas Development Institute (ODI) director of professional services, Christopher Williams on smaller organisations' involvement with USS negotiations
Posted: 29/10/19
PMI technical consultant Tim Middleton discusses why The Pensions Regulator should be congratulated for its success at enforcing automatic enrolment
Posted: 28/10/19
PLSA policy lead lifetime savings George Currie discusses how the pensions sector could benefit from the introduction of digital IDs
Posted: 28/10/19
The Financial Conduct Authority (FCA) has been told that it needs to provide more evidence to justify its plans to ban contingent charging on defined benefit to defined contribution pension transfers
Posted: 28/10/19
The new pension wake-up packs that will come into effect on 1 November are “still not enough” in the battle to improve retirement income provision,according to Wealth at Work
Posted: 28/10/19
A think tank has suggested that the government should subsidise the pensions of women who take time out of work to care for children or elderly relatives
Posted: 28/10/19
Behavioural trials designed to work out the best way to persuade people to use Pension Wise have begun
Posted: 25/10/19
Told by his parents to get a job that was pensionable, President of BESTrustees Alan Pickering has worked at the interface of pensions, business and politics for more than 40 years. He was born with an inherited and progressive sight condition and lost the majority of his sight by the age of 30. Never one to let his sight or the attitudes of others towards it become a barrier to success, Alan has become one of the biggest influencers in the world of pensions.
Here he shares his views on living with sight loss in London today and his thoughts on the Vision Foundation’s ambitions for the future
Here he shares his views on living with sight loss in London today and his thoughts on the Vision Foundation’s ambitions for the future
Posted: 25/10/19
The Pensions Regulator (TPR) has claimed that the London Borough of Barnet Superannuation Fund is now being run more effectively after it was forced to issue the local authority pension scheme with an improvement notice earlier this year
Posted: 25/10/19
The Heathrow Airport Holdings Limited’s defined benefit pension schemes have swung from a £30m surplus to a £28m deficit in the past year
Posted: 25/10/19
The latest news in brief and mandates from the past seven days
Posted: 25/10/19
Insurers are focusing on large bulk annuity deals at the expense of smaller schemes, according to LCP
Posted: 25/10/19
Employee benefits and pensions consulting company, Broadstone, has announced the acquisition of Bristol-based firm, BBS Consultants and Actuaries
Posted: 24/10/19
The amount of young people and women saving into an auto-enrolment workplace pension scheme has increased, shrinking the gender and age gap, according to The Pensions Regulator’s (TPR) latest figures
Posted: 24/10/19
Aviva Life & Pensions UK has completed a £1.7bn bulk annuity buy-in transaction with its parent company’s DB pension fund
Posted: 24/10/19
Trustees have stepped up their engagement with environmental, social and governance (ESG) issues, but few are going beyond the minimum requirements, research from KPMG has found
Posted: 24/10/19
The government’s proposed flexibilities to the NHS Pension Scheme are a “sticking plaster” solution that will not solve the crisis over working hours that is engulfing the UK’s healthcare system
Posted: 24/10/19
The updated UK Stewardship Code will require pension schemes to declare whether they have taken environmental, social and governance (ESG) factors into account when investing member funds
Posted: 24/10/19
The Pensions Regulator (TPR) is prosecuting a nursery and its main director for failing to comply with auto-enrolment regulations
Posted: 24/10/19
Victims of ‘The Troubles’ in Northern Ireland in the second half of the 20th century could be in line for a pension of £10,000 per year
Posted: 23/10/19
Hargreaves Lansdown has been named as the provider with the slowest pension transfers that uses the Origo Transfer Service for the third time
Posted: 23/10/19
KPMG is in advanced negotiations about a sale of its pensions advisory unit division to Exponent Private Equity
Posted: 23/10/19
The Whitbread defined benefit pension scheme funding level swung into a surplus of £222m after a one-off contribution of £381m following the sale of Costa Coffee
Posted: 23/10/19
A new study looking at UK household’s financial health has found that the rising cost of living is leaving many over-55s unable to put aside extra savings
Posted: 23/10/19
A housing provider has called for the government to set up an affordable housing fund financed by pension scheme money
Posted: 23/10/19
Plans to change the way inflation is calculated could alter pension scheme funding positions by up to 10 per cent either way, according to LCP
Posted: 22/10/19
Employers are concerned about the complexity and cost associated with the equalisation of guaranteed minimum pensions (GMPs), according to the Association of Consulting Actuaries (ACA)
Posted: 22/10/19
The Pensions Regulator (TPR) has granted defined contribution master trust authorisation to the Combined Nuclear Pension Plan (CNPP)
Posted: 22/10/19
A total of 330 current and former MPs have signed a petition calling on the trustees of the Parliamentary Pension Fund to end its investments in fossil fuel companies.
The Divest Parliament Pledge has been signed by 300 current MPs, including Labour leader Jeremy Corbyn; Liberal Democrat leader Jo Swinson; SNP Westminster leader Ian Blackford and Conservative Culture Secretary Nicky Morgan
The Divest Parliament Pledge has been signed by 300 current MPs, including Labour leader Jeremy Corbyn; Liberal Democrat leader Jo Swinson; SNP Westminster leader Ian Blackford and Conservative Culture Secretary Nicky Morgan
Posted: 22/10/19
Nearly double the number of new equity release plans were taken out by single women as single men in the first half of this year, as increasing numbers of lone homeowners use their homes to supplement their retirement income
Posted: 22/10/19
The BackTo60 campaign, which represents women born in the 1950s and affected by state pension age equalisation, has lodged its application for permission to appeal at the High Court
Posted: 22/10/19
Pension scheme providers have been encouraged to “seize the moment” to rebuild member trust in advance of the Financial Conduct Authority’s (FCA) new investment pathways
Posted: 21/10/19
Little improvement has been made in strengthening the adequacy of the UK retirement system, meaning that employers may have to play a bigger role in helping to close the retirement savings gap.
Mercer, which has ranked the UK in 14th position in its latest annual Melbourne Mercer Global Pension Index, has said that the UK needs to improve by raising the minimum pension for low-income, increasing contributions to workplace pension schemes and enabling better coverage for the self-employed
Mercer, which has ranked the UK in 14th position in its latest annual Melbourne Mercer Global Pension Index, has said that the UK needs to improve by raising the minimum pension for low-income, increasing contributions to workplace pension schemes and enabling better coverage for the self-employed
Posted: 21/10/19
The pensions dashboard cannot come quickly enough, according to Portafina, with the pension advice specialist saying that one in 10 workers do not know if they have a pension from a previous job
Posted: 21/10/19
The Financial Conduct Authority (FCA) has called on pensions policy to be simplified for consumers due to the overly complex nature of defined contribution schemes
Posted: 21/10/19
Up to 40 million people could be “rolling the dice” on their retirement as they have not set savings targets for their pensions
Posted: 21/10/19
MPs have asked what role The Pensions Regulator (TPR) plays in the involuntary removal of trustees after a Universities Superannuation Scheme (USS) trustee and whistleblower was fired earlier this month
Posted: 21/10/19
Former BBC political editor and The Today Programme presenter Nick Robinson has described Boris Johnson's Brexit deal as a 'win-win' for the Prime Minister
Posted: 18/10/19
The PLSA has launched a new paper, Building an environment of trust in pensions, highlighting actions the industry can take to win back trust in sector
Posted: 18/10/19
The Asda Group Pension Scheme has entered into a £3.8bn buy-in with Rothesay Life
Posted: 18/10/19
Auto-enrolment is “anti women” and the policy is a “non-starter” for the self-employed, according to a panel of pensions experts
Posted: 18/10/19
Nest has appointed BNP Paribas Asset Management (BNPP AM) to manage diversified private credit portfolio
Posted: 18/10/19
The Pensions Regulator (TPR) has proposed introducing two ways for defined benefit schemes to comply with funding regulations – 'fast track' and 'bespoke'
Posted: 18/10/19
Pensions Minister Guy Opperman has called on pension schemes to act now on equalising guaranteed minimum pensions (GMP) payments
Posted: 18/10/19
The Department for Work and Pensions (DWP) has yet to find the ‘sweet spot’ between balancing out the need for member security, employer affordability and investor profitability in order to legislate DB superfunds, it has informed the PLSA Annual Conference
Posted: 17/10/19
Fintech solutions such as online platforms and calculators could play an imperative role in helping mitigate savers' risks in the decumulation stage of their pension saving
Posted: 17/10/19
There is a growing bank of evidence of increased complexity being generated by the attempts to resolve the annual allowance (AA) and lifetime allowance (LTA) challenges, West Midlands Pension Fund director of pensions Rachel Brothwood has warned
Posted: 17/10/19
Pensions dashboards will only be as good as the data that’s in them, Money and Pensions Service (MAS) Pensions Dashboards Industry Delivery Group, principal, Chris Curry has said
Posted: 17/10/19
One in six (16 per cent) of 'Generation AE' savers were unaware that they were saving into a pension, even though the communication was through their pension provider, according to new research
Posted: 17/10/19
The Department for Work and Pensions (DWP) is looking to consult on further regulations to DC consolidation and performance fees verification in the New Year, with the aim to bring in further regulation by October 2020
Posted: 17/10/19
It would be ‘perverse’ and ‘bizarre’ to consider the charge cap to be the main barrier to DC schemes investing in illiquid assets, the Department for Work and Pensions (DWP) has claimed
Posted: 17/10/19
It would be "perverse" and "bizarre" to consider the charge cap to be the main barrier to DC schemes investing in illiquid assets, the Department for Work and Pensions (DWP) has claimed
Posted: 17/10/19
Pensions schemes must understand that “mass communications are not member communications”, Carillion DC pension schemes trustee Dianne Day has said
Posted: 17/10/19
Just over half of employees, 56 per cent, have re-opted out of their auto-enrolled pension scheme at re-enrolment, research by Nest Insight has found
Posted: 17/10/19
Defined benefit pension schemes are considerably behind their defined contribution counterparts in harnessing technology to inform members and improve trustee governance, it has been said
Posted: 17/10/19
An escalation in conflicts between superpowers is considered the greatest risk to the global economy over the next five years, according to a poll of PLSA Annual Conference attendees
Posted: 17/10/19
Nearly three-quarters (71 per cent) of UK DB pension schemes are targetting self-sufficiency within the next 10 years
Posted: 17/10/19
Pensions Minister Guy Opperman has said the government is taking forward the Pensions Scheme Bill "with cross-party support”
Posted: 17/10/19
The Pensions and Lifetime Savings Association has launched its Retirement Living Standards to tackle the engagement challenge and help to build a nation of active savers
Posted: 17/10/19
The pensions industry has welcomed the arrival of the Pensions and Lifetime Savings Association's (PLSA) new Retirement Living Standards and praised it for its clarity and tangibility
Posted: 17/10/19
Humour and tangibility are the most important tools to improving pension engagement, according to BBC business broadcaster, Steph McGovern
Posted: 16/10/19
Pensions data needs around £25m invested in it over a four-year period to “get it up to scratch”, and it is not currently good enough for pensions dashboards, according to Pensions Administration Standards Association (Pasa) president Margaret Snowdon
Posted: 16/10/19
Making environmentally responsible investments will increase yield on pension savings and increase engagement, Legal & General group chief executive Nigel Wilson has said
Posted: 16/10/19
The DNA of significant financial institutions, which are being created through consolidation, will set the tone and culture of the whole pensions industry, according to Universities Superannuation Scheme chief executive Bill Galvin
Posted: 16/10/19
State Street’s latest Brexometer research has found that 71 per cent of global institutional investors expect a Brexit deal to have a positive impact on global markets
Posted: 16/10/19
The Pensions and Lifetime Savings Association (PLSA) must act as the “captain” of the industry to help create a “world class pension system”, PLSA chief executive Julian Mund has said
Posted: 16/10/19
The Association of Consulting Actuaries (ACA) has claimed that the government missed an opportunity to boost DC contributions in its Pensions Bill, which was announced in the Queen’s Speech on Monday, 14 October
Posted: 16/10/19
The new state pension will rise to £175.35 a week from April 2020, after it was confirmed that CPI inflation grew by 1.7 per cent in September 2019
Posted: 16/10/19
The Pensions Ombudsman (TPO) has upheld a complaint against the NHS Pension Scheme over its members retaining special class status (SCS) if they retire early
Posted: 15/10/19
The Thomas Cook Pension Plan is not expected to enter the Pension Protection Fund (PPF) as it is estimated that it has enough assets to provide benefits to its members in excess of PPF levels
Posted: 15/10/19
The latest news in brief and mandates from the past seven days
Posted: 15/10/19
A Welsh local authority has voted to divest its local government pension scheme (LGPS) from fossil fuels as it moves towards more sustainable investments
Posted: 15/10/19
Atlas Master Trust has released a manifesto which calls for changes in the UK pensions culture to empower pension scheme members
Posted: 15/10/19
New Office for National Statistics (ONS) figures have revealed that there are 4.2 million self-employed UK workers that are not saving into a pension scheme
Posted: 15/10/19
A third generation of DC schemes could emerge within the next five years that better address adequacy, coverage, engagement and technology, according The Thinking Ahead Institute (TAI)
Posted: 14/10/19
Global institutional investors will nearly triple their divestments from fossil fuels in the next decade, according to Octopus Group
Posted: 14/10/19
The newly announced Pensions Bill proposes that The Pensions Regulator (TPR) has its powers strengthened to help tackle irresponsible employers and protect savers
Posted: 14/10/19
Royal London director of policy and former Pensions Minister, Steve Webb, has accused the Treasury of blocking “vital” pension measures in the Pension Schemes Bill, which was formally announced today
Posted: 14/10/19
The government has confirmed it is introducing legislation to compel schemes to provide data for pensions dashboards
Posted: 14/10/19
The newly introduced Pensions Bill will include a legislative framework for the implementation of collective defined contribution (CDC) pension schemes, it has been confirmed
Posted: 14/10/19
Changes to the pensions system to help tackle issues within the industry have been confirmed in the Queen’s Speech ahead of the expected introduction of the Pensions Bill
Posted: 14/10/19
The number of DB schemes within the FTSE 350 able to buyout within the next five years could increase by a third — if further pension transfer exercises are carried out
Posted: 14/10/19
Nearly a quarter (23 per cent) of UK pension schemes are unprepared for the risks posed by cyber crime, Aon has found
Posted: 14/10/19
Universities Superannuation Scheme (USS) whistleblower Jane Hutton has been fired from her role as non-executive director of the scheme’s trustee board
Posted: 11/10/19
Around 85 per cent of DB schemes are likely to implement a flexible retirement option, according to Aon’s 2019 Global Pension Risk Survey
Posted: 11/10/19
The latest news in brief and mandates from the past seven days
Posted: 11/10/19
Aviva has said that it has noticed a 60 per cent increase in enquiries from employers and advisers looking to switch pension provider during the first half of 2019, compared to the same period last year
Posted: 11/10/19
The Office of Tax Simplification (OTS) has recommended that the government reviews a series of complex pension tax measures, which it says are so complicated that they are creating unfair “distortions” for savers
Posted: 11/10/19
The industry does not expect any surprise inclusions in the Pensions Bill, which is due to be announced in the Queen’s Speech on Monday (14 October)
Posted: 11/10/19
Nest has begun testing attitudes among the self-employed to understand which messages are most effective in encouraging them to increase their retirement saving
Posted: 10/10/19
HMRC has estimated that the total income tax relief on pension contributions will be £21.2bn in 2019/20
Posted: 10/10/19
The UK’s poorest single pensioners are receiving up to £4,000 less in state benefit income each year than those better off than them
Posted: 10/10/19
Over a third of DB pension schemes have either appointed an IFA or are considering appointing one, according to XPS Pensions Group
Posted: 10/10/19
The number of workers newly auto-enrolled into a workplace pension scheme continues to be outweighed by the number of new workers not auto-enrolled
Posted: 10/10/19
The government may once again be turning its attention towards pensions, but Laura Blows warns of the need for a long-term viewpoint
Posted: 10/10/19
The Church of England (CoE) has raised concerns over proxy voting advisers ISS and Glass Lewis’ decision to not recommend support to the pension board’s co-filed shareholder resolution against BHP
Posted: 09/10/19
Risk settlement deals completed by firms in the FTSE 100 has hit £70bn, Aon has revealed
Posted: 09/10/19
The University and College Union (UCU) has called on university employers to “stop spinning and start talking” on pay and pensions
Posted: 09/10/19
An independent body to provide accreditation and quality assurance for covenant advice could be a “potential solution” for shortcomings in regulations to protect savers, Pensions Minister Guy Opperman has said
Posted: 09/10/19
Jack Gray calls for an end to the delays in implementing many much-needed changes within the pensions sector
Posted: 09/10/19
Newly retired women have been urged to check their state pension entitlements as thousands could be in line for a savings boost if they paid the ‘married woman’s stamp’ in the last 35 years
Posted: 09/10/19
The government has been urged to support auto-enrolment default pension schemes that focus on sustainable investments by the UK Sustainable Investment and Finance Association (UKSIF)
Posted: 09/10/19
The Financial Ombudsman Service (FOS) has seen complaints relating to defined benefit transfers rise by 44 per cent in the year 2018/19
Posted: 09/10/19
The number of people transferring their defined benefit pension schemes has fallen in September, according the XPS Pensions Group’s Transfer Value Index
Posted: 08/10/19
The Shadow Education Secretary, Angela Rayner, has called for urgent talks between the University and College Union (UCU) and Universities UK (UUK) to settle the ongoing pay and pensions disputes
Posted: 08/10/19
The combined deficit of schemes in the PPF 7800 index fell by £13.9bn during September to £149bn, according to monthly figures released by the Pension Protection Fund (PPF)
Posted: 08/10/19
The National Grid UK Pension Scheme has concluded a £2.8bn buy-in transaction with Rothesay Life covering just over 8,000 members
Posted: 08/10/19
The University of Oxford Staff Pension Scheme (OSPS) has become the latest defined contribution scheme to be granted master trust authorisation by The Pensions Regulator (TPR)
Posted: 08/10/19
The Institute of Economic Affairs (IEA) has urged the government to scrap the tax-free cash available on pensions to help pay for the abolition of inheritance tax.
Posted: 08/10/19
Pensions Minister Guy Opperman has fired warning shots at the UK’s largest pension schemes, over failures to meet new ESG legislation
Posted: 07/10/19
With a Queen’s Speech scheduled to take place next Monday 14 October, speculation is rising about whether a pensions bill will be included and what it might contain
Posted: 07/10/19
The Association of Consulting Actuaries (ACA) is calling for five key measures to be included in the upcoming Pension Bill, which is thought likely to appear in the Queen’s Speech on 14 October
Posted: 07/10/19
Work and Pensions Committee chair Frank Field has called for the government to include defined benefit superfund legislation in the upcoming Pensions Bill
Posted: 07/10/19
The Financial Conduct Authority (FCA) has urged Self-Invested Pension Plan (Sipp) providers to contact the regulator if they feel unable to meet their financial commitments
Posted: 07/10/19
David Adams looks at how the three main UK-wide political parties approached the subject of pensions during conference season
Posted: 07/10/19
ODI director of professional services, Christopher Williams, explains why the increased employer contribution levels for the USS would put smaller organisations under serious financial pressure
Posted: 07/10/19
Sixty per cent of pension schemes have moved away from a traditional investment approach to a responsible or sustainable approach, according to XPS
Posted: 04/10/19
Self-invested personal pensions (Sipp) provider Berkeley Burke Sipp Administration Limited has decided not to appeal the court ruling which ordered it to pay £1m to people affected by unregulated investments
Posted: 04/10/19
Addressing climate change risk in fixed income portfolios
Francesca Fabrizi meets Lee Clements, director of SRI research at FTSE Russell, to discuss climate change risk in investment portfolios
The modern age
Deputy editor Natalie Tuck chats to the ABI’s Yvonne Braun about her work at the ABI and her thoughts on key pension topics
© 2019 Perspective Publishing Privacy & Cookies