Archive News

Abrdn has announced that it has agreed to acquire subscription-based investment platform, Interactive Investor, for £1.49bn, subject to regulatory and shareholder approval
Posted: 2/12/21
The Tyne and Wear Pension Fund has committed to phased carbon reduction targets on the road to net-zero carbon emissions by 2050
Posted: 2/12/21
The Pension Protection Fund (PPF) has published updated valuation guidance to reflect the Hampshire and Bauer judgments, and the disapplication of the PPF compensation cap
Posted: 2/12/21
The aggregate accounting deficit of FTSE 350 companies’ defined benefit (DB) pension schemes increased by £10bn during November to reach £104bn at the end of the month, according to Mercer's latest Pensions Risk Survey
Posted: 2/12/21
More than half (51 per cent) of savers want their pension investments to be both environmentally and socially sustainable, increasing to 60 per cent amongst Millennial savers, research from Cushon has revealed
Posted: 2/12/21
The industry has described The Pensions Regulator’s (TPR) approval of the Clara-Pensions defined benefit (DB) superfund as a “significant milestone” and a “landmark day” for DB schemes in the UK
Posted: 1/12/21
Changes to the funding regime for defined benefit (DB) pension schemes could release almost "half a trillion pounds'" worth of assets to be invested elsewhere, such as productive finance, according to analysis by PwC
Posted: 1/12/21
Pension providers will be required to implement a 'stronger nudge' to Pension Wise guidance from 1 June 2022 under new rules from the Financial Conduct Authority (FCA), published today (1 December).

The changes aim to make it easier for consumers to book a free Pension Wise appointment, with providers required to refer customers to, and explain the nature and purpose of, Pension Wise guidance
Posted: 1/12/21
Bulk annuity market volumes for 2021 are expected to total around £30bn, despite a slower than anticipated start to the year, according to analysis from Barnett Waddingham
Posted: 1/12/21
The Department for Education has launched a consultation on proposed changes to the Teachers’ Pension Scheme (TPS), which look to address the age discrimination identified in the McCloud case
Posted: 1/12/21
The Financial Services Compensation Scheme (FSCS) has received more than 1,000 claims from former members of the British Steel Pension Scheme (BSPS)
Posted: 1/12/21
A private members bill on guaranteed minimum pensions (GMP) has completed its second reading in the House of Commons and will now move to committee stage
Posted: 30/11/21
The Department for Work and Pensions (DWP) has launched a consultation on proposed changes to the regulatory charge cap for automatic enrolment defined contribution (DC) pension schemes to encourage greater investment in 'productive finance'
Posted: 30/11/21
Pension providers have been urged to review their due diligence while using “common sense” to ensure there is no transfer gridlock as new scam transfer regulations come into force today (30 November)
Posted: 30/11/21
Straightforward messaging and personalised communications may be a more effective engagement tool than responsible investment messaging, research from Nest Insight has suggested
Posted: 30/11/21
Clara-Pensions has become the first defined benefit (DB) superfund to complete The Pensions Regulator’s (TPR) assessment process
Posted: 30/11/21
Jonathan Ashworth has been named as Labour’s new Shadow Work and Pensions Secretary following a reshuffle of the shadow cabinet
Posted: 30/11/21
The Deloitte Pensions Master Plan (DPMP) and the TPT Defined Benefit (DB) Master Trust have completed their DB master trust self-certifications.

The self-certification regime, which is hosted by the Pensions and Lifetime Savings Association (PLSA), was launched in October 2021
Posted: 29/11/21
Arjo UK Pension Scheme has selected Kempen Capital Management UK as its new fiduciary manager for its defined benefit (DB) pension scheme
Posted: 29/11/21
Secure income real assets manager, Alpha Real Capital, has joined Pensions for Purpose as an influencer member
Posted: 29/11/21
Pensioners in drawdown have been urged to consider revisiting their retirement decision part-way through retirement, as switching to annuity could be beneficial later in life
Posted: 29/11/21
A Gambian ambassador has been found guilty of withholding pensions information from The Pensions Regulator (TPR) and ordered to pay more than £82,000
Posted: 29/11/21
Almost all (96 per cent) pension scheme sponsoring employers want a ‘genuinely flexible’ bespoke option included in The Pensions Regulator’s (TPR) second defined benefit (DB) Funding Code consultation, according to the Association of Consulting Actuaries (ACA)
Posted: 29/11/21
Society of Pension Professionals (SPP) DC committee member, Ian Neale, discusses the factors behind the introduction of collective defined contribution (CDC) pension arrangements
Posted: 26/11/21
Industry research has found that 7 per cent of global pension schemes and other institutional investors expect to decrease their focus on environmental, social and governance (ESG) factors in their investments over the next three years
Posted: 26/11/21
Industry experts have praised the Financial Conduct Authority’s (FCA) intent to help non-advised customers in new proposals, although concerns have been raised over the role of lifestyling and the need for advice and guidance
Posted: 26/11/21
The latest news in brief and mandates from the past seven days
Posted: 26/11/21
The National Institute of Economic and Social Research (NIESR) has suggested giving Universities Superannuation Scheme (USS) members the option to transfer some of their pension rights to self-invested personal pensions (Sipp) to help address the scheme’s funding issues
Posted: 26/11/21
University and College Union (UCU) members at 42 universities will face a reballot for potential strike action over pension and pay concerns, after previously missing the turnout threshold
Posted: 26/11/21
Around 10.6 million pension savers could be at risk of their sensitive financial information ending up in the hands of fraudsters under plans for an annual benefit statement season, research from PensionBee has suggested
Posted: 25/11/21
The High Court has approved the transfer of a £12bn portfolio of annuities from The Prudential Assurance Company, a subsidiary of M&G, to Rothesay Life
Posted: 25/11/21
Phoenix Group has launched a new think tank, Phoenix Insights, to assess and provide research on the possibility of continued growth in life expectancy, and how it could impact society
Posted: 25/11/21
The Financial Conduct Authority (FCA) has launched a consultation on proposals for firms offering personal pensions to offer a default investment option to help non-workplace pension customers that have not received advice save for retirement
Posted: 25/11/21
The Financial Conduct Authority (FCA) has warned that there will be limits on what can be “meaningfully evaluated” about Investment Pathways at its one-year implementation review, which is expected to begin in spring 2022
Posted: 25/11/21
Pension schemes have been urged to consider the make-up and demographic breakdown of their members after new analysis suggested that the mortality legacy of Covid-19 is likely to far outlast the pandemic itself
Posted: 25/11/21
Nest Insight has collaborated with Suez Recycling and Recovery UK and TransaveUK to launch a new opt-out workplace emergency saving research trial
Posted: 25/11/21
MoneyHelper could be "overwhelmed" by demand if pension scheme trustees take an “ultra-cautious” approach when categorising pension scheme transfers under new anti-scam regulations, LCP has warned
Posted: 24/11/21
The Pensions Regulator (TPR) has said that there is “more to do” to ensure that the “pension revolution” continues to provide better retirements for savers, including implementing automatic enrolment (AE) reforms
Posted: 24/11/21
Industry organisations have backed regulators' plans to include all defined contribution (DC) pension schemes in their proposed value for money framework, after research revealed that a charge gap remains in the DC market
Posted: 24/11/21
The average time to buyout for FTSE 350 companies’ defined benefit (DB) pension schemes increased by seven months during September and October 2021, according to analysis by Barnett Waddingham
Posted: 24/11/21
UK pension law firms believe that defined benefit (DB) superfunds will become a strong consideration for schemes with struggling sponsors as an alternative to the Pension Protection Fund (PPF) or buyout
Posted: 24/11/21
Link Group has announced that it is entering the UK pensions industry with the launch of a digital-first solution for the defined contribution (DC) and master trust administration market
Posted: 24/11/21
Pension savers could be at risk of running out of money much earlier in retirement if they are still making yearly mortgage repayments, interactive investor has warned, amid an influx in 40-year mortgage products
Posted: 23/11/21
It is “imperative” that time is taken to consider how a pension should be shared fairly when they represent a significant resource within a divorce settlement, Winckworth Sherwood has warned
Posted: 23/11/21
Pension funds remain the single biggest group of asset owners globally with a 58.1 per cent share, according to the Thinking Ahead Institute
Posted: 23/11/21
HS Admin has announced plans to enter a joint partnership with Guiide and The Pensions Lab in an effort to meet the “ever-increasing” client demand for state of the art modelling tools
Posted: 23/11/21
XPS Pensions Group has become net carbon neutral through the use of carbon emissions offsetting across its entire value chain
Posted: 23/11/21
ITM and Altus have partnered to deliver the industry’s first commercial Pensions Dashboards Integrated Service Provider (ISP)
Posted: 23/11/21
SEI has confirmed the completion of its acquisition of Capita's former defined contribution (DC) master trust, Atlas, for an undisclosed sum
Posted: 22/11/21
Global institutional investors have “significantly” raised their net-zero ambitions over the past year, with 67 per cent of all pension schemes now having some form of net-zero commitment in place, compared to 47 per cent last year, industry research has found
Posted: 22/11/21
The Cabinet Office has launched a consultation on a number of proposed changes for civil service pension scheme members, including future member contributions, as part of its McCloud remedy
Posted: 22/11/21
Around 49 per cent of local government leaders think local government pension funds should have formal representation on the UK Infrastructure Bank (UKIB) board, according to research from GLIL Infrastructure
Posted: 22/11/21
Just 16 per cent of those aged 55 and over have taken independent financial advice to discuss their retirement option and 14 per cent have used the government’s Pension Wise Service, research from NerdWallet has found
Posted: 22/11/21
Around 88 per cent of employers expect pension schemes to struggle to find individuals who are prepared to take on the role of trustee amid a growing regulatory burden, research from the Association of Consulting Actuaries (ACA) has revealed.

The ACA’s 2021 Pension trends survey found that a further 76 per cent of employers also expect more trustees to consider resigning due to the scale of the new responsibilities they are expected take on
Posted: 22/11/21
GMB Union has launched a Judicial Review against the Treasury over its use of the cost control mechanism on public sector pension schemes
Posted: 19/11/21
Concerns over the impact of rising inflation on pensioners have persisted after figures from the Office for National Statistics (ONS) revealed that the Consumer Price Index (CPI) rose to 4.2 per cent in October, the highest level in a decade
Posted: 19/11/21
Defined benefit (DB) pension scheme trustees should consider “interesting new directions and options” in managing downside risk, according to PTL client director, Dan Richards
Posted: 19/11/21
Members of the Royal Mail Collective Pension Plan (RMCPP) who choose to save for an additional lump sum payment will receive an extra 1 per cent in employer contributions, its half-year report has revealed
Posted: 19/11/21
The latest news in brief and mandates from the past seven days
Posted: 19/11/21
Most asset managers across real assets, private debt, LDI and multi-asset funds are not considering diversity metrics such as gender when researching potential investments, research from Redington has found
Posted: 18/11/21
Local Pensions Partnership Investments’ (LPPI) internally managed global equity large cap portfolio returned 212.1 per cent over the past seven years, equal to annualised returns of 17.6 per cent, the pension pool specialist has revealed
Posted: 18/11/21
Pension schemes have been warned that residual risk cover may not be the “silver bullet” it is sometimes perceived as, after a poll from Sackers revealed that the 55 per cent of pension professionals viewed residual risk cover as a 'must have'
Posted: 18/11/21
The UK could learn "useful lessons" on the most effective way to target a value for money (VFM) strategy for defined contribution (DC) pension schemes, the Pensions Policy Institute (PPI) has suggested
Posted: 18/11/21
Defined benefit (DB) pension transfer values hit a record high of £265,200 on 28 October, before falling back to close the month at £260,000, XPS Pension Group’s Transfer Value Index has revealed
Posted: 18/11/21
The Reuters Supplementary Pension Scheme has agreed a £310m full-scheme buy-in deal with Legal & General (L&G) Assurance Society
Posted: 18/11/21
The Department for Work and Pensions (DWP) has written to interested parties about potential plans to scrap a European Court of Justice (ECJ) ruling on pension lifeboats ensuring that members of bust companies' pension schemes do not fall below the poverty line
Posted: 17/11/21
A number of household names, including Martin Lewis, Sir Richard Branson, Rob Brydon and Dawn French, have called on the Prime Minister to “urgently” include regulation for paid-for scam adverts within the Online Safety Bill
Posted: 17/11/21
The UK pension scheme of an unnamed overseas banking group has secured a £17m pensioner buy-in with Just Group
Posted: 17/11/21
A lack of understanding around company beliefs and how they impact pension scheme decisions could endanger the success of defined benefit (DB) endgame strategies, Hymans Robertson has warned
Posted: 17/11/21
A total of 58 universities will face three days of strike action in December in light of concerns over pension cuts and pay and working condition issues, the University and College Union (UCU) has confirmed
Posted: 17/11/21
A total of 206,705 calls were taken by the Department for Work and Pensions' (DWP) pension tracing service over the past four years, a freedom of information request from Hargreaves Lansdown has revealed
Posted: 17/11/21
The Investment Consultants Sustainability Working Group (ICSWG) has published a list of 12 environmental, social and governance (ESG) reporting metrics for public equity and public credit asset managers to report on
Posted: 17/11/21
The Pensions Administration Standards Association (Pasa) has appointed ITM as their new expert partner for pensions dashboards
Posted: 16/11/21
Women in their 20s will need to save an average of £185,000 more than men their age over their working life to have the same income in retirement, Scottish Widows has revealed
Posted: 16/11/21
More than a third (37 per cent) of women do not have a workplace pension, compared to 32 per cent of men, according to research from Barnett Waddingham
Posted: 16/11/21
The House of Commons has rejected an amendment from the House of Lords to increase the state pension triple lock in line with the earnings link
Posted: 16/11/21
The British Medical Association (BMA) Pension Committee has issued a letter before claim for Judicial Review proceedings against the government over the use of the cost control mechanism in the 2015 NHS Pension Scheme
Posted: 16/11/21
The Universities Superannuation Scheme (USS) trustee has decided to signpost its members to LifeSight for drawdown provision
Posted: 16/11/21
The British Medical Association (BMA) Scotland’s Consultant Committee chair, Dr Graeme Eunson, has warned that NHS Scotland is facing an “exodus” of consultants due to pay, workload and pension tax issues
Posted: 15/11/21
Nine in 10 Brits are unsure what pension payments they are entitled to, whilst a further 13 per cent do not realise they are entitled to anything at all, according to research from Money.co.uk
Posted: 15/11/21
Honda Group-UK Pension Scheme Trustee has appointed Mercer to provide fiduciary management services for their £1.7bn UK pension scheme
Posted: 15/11/21
Almost a third of people expect to rely on their partner’s pension in retirement, whilst just over a fifth (21 per cent) are unsure if they will need to, research from Hargreaves Lansdown has revealed
Posted: 15/11/21
The trustee of the Mitchells & Butlers Pension Plan has won a “ground-breaking” High Court case against the scheme’s principal employer over powers to decide which index is used to increase members’ pensions
Posted: 15/11/21
Whilst a third (33 per cent) of pension schemes have set or are in the process of setting targets to reduce their climate-related risk, a further 28 per cent do not intend to set a target at all, industry research has revealed
Posted: 15/11/21
Scottish Widows has announced that it plans to invest up to £25bn in companies that are proactively addressing climate change by 2025
Posted: 12/11/21
The government has confirmed that it will not be providing blanket compensation to pensioners over the delay in receiving state pension payments
Posted: 12/11/21
The court hearing for ex-Norton Motorcycles boss, Stuart Garner, has been postponed to Monday 7 February 2022 at Derby Magistrates’ Court
Posted: 12/11/21
Only 11 per cent of defined contribution (DC) pension schemes offer members a full suite of options to access funds at retirement, despite this delivering the best outcome for members, research from XPS Pensions Group has found
Posted: 12/11/21
The latest news in brief and mandates from the past seven days
Posted: 12/11/21
Dr David Ferguson, the private therapist from Behind Her Eyes, would have the largest pension pot amongst fictional British TV characters at £209,594, while other iconic characters may fall on harder times, according to PensionBee
Posted: 12/11/21
The Pensions Administration Standards Association (Pasa) Data Working Group has published new Data Management Controls Guidance, providing "practical support" for schemes and administrators in developing their own controls
Posted: 11/11/21
Growth in the number of non-enrolled workers was double that seen amongst auto-enrolled workers in October 2021, according to figures from The Pensions Regulator (TPR)
Posted: 11/11/21
Local Pensions Partnership Investments (LPPI) has delivered £28.2m in cost savings for clients in the year to March 2021, resulting in total savings of £74m since its inception in 2016
Posted: 11/11/21
UK defined benefit (DB) pension schemes have £450bn of inflation-linked liabilities that are unmatched due to a shortage of long-dated index-linked gilts, analysis by Alpha Real Capital has estimated
Posted: 11/11/21
Aviva wrote £2.4bn worth of bulk purchase annuity deals in the third quarter of 2021 as activity accelerated “strongly”, its Q3 2021 Trading Update has revealed
Posted: 11/11/21
Almost a third (30 per cent) of global pension schemes and institutional investors expect their use of environmental, social and governance (ESG) rating agencies to increase ‘dramatically’ over the next three years, research from SigTech has found
Posted: 11/11/21
The number of pension schemes with assets over £1bn has increased from 154 in 2013 to 290 in 2021, representing a 90 per cent increase, Barnett Waddingham's (BW) Large Schemes 2021 research has revealed
Posted: 10/11/21
The Investing and Saving Alliance (Tisa) has urged the government and regulators to update four "archaic" aspects of pension decumulation policy to enhance consumer retirement outcomes
Posted: 10/11/21
Around 83 per cent of pension holders do not know what pension contributions they should be making to generate the retirement income they want to live on later in life, according to industry research
Posted: 10/11/21
Gowling WLG partner, Helen Davenport, and principal associate, Ben Goldby, analyse the cyber risks facing pension schemes and what trustees can do to mitigate these risks
Posted: 10/11/21
An unnamed pension scheme of a US-listed medical devices company has completed a £9m full buy-in with Aviva
Posted: 10/11/21
UK defined benefit (DB) pension schemes reached their 'healthiest' level since before the onset of Covid-19 in Q3 2021, according to Legal & General Investment Management's (LGIM) Health Tracker
Posted: 10/11/21
The government has confirmed that it will ban flat fee charges as part of a combination charge on default defined contribution (DC) pensions used for auto-enrolment (AE) with pots worth less than £100 from April 2022
Posted: 10/11/21
The pensions industry has broadly welcomed new measures from the Department for Work and Pensions (DWP) that give trustees the power to block transfers that show signs of scams, although some have warned of increased complexity
Posted: 9/11/21
The Pensions Administration Standards Association (Pasa) GMP Working Group has published guidance on how to treat reconciliation data during a transition to a new administration provider
Posted: 9/11/21
The government has estimated that an automatic appointment system for Pension Wise guidance would cost in excess of £45m, emphasising the importance of other initiatives, such as the simpler statement and mid-life MOT
Posted: 9/11/21
Defined benefit (DB) pension schemes should pay more attention to optimising their inflation hedging strategies due to current volatile inflation rates, according to LCP
Posted: 9/11/21
The Department for Work and Pensions (DWP) has confirmed plans to launch a call for evidence on the potential for trust-based schemes to have investment pathways and protections in place similar to contract-based schemes
Posted: 9/11/21
The aggregate defined benefit (DB) pension surplus decreased for the first time since July last month, falling from £108.8bn to £103.2bn, the Pension Protection Fund (PPF) 7800 Index has revealed
Posted: 9/11/21
At least 12 per cent of transfers could have been blocked over the past year if new anti-scam regulations had been in force, according to analysis from XPS Pensions Group
Posted: 9/11/21
Columbia Threadneedle Investments, part of Ameriprise Financial, has acquired BMO’s EMEA asset management business for £615m
Posted: 8/11/21
New measures to help protect pension savers against the threat of scam transfers will come into force on 30 November, the government has confirmed
Posted: 8/11/21
The Pensions Regulator (TPR) has published guidance for trustees to help them understand their new powers in halting suspicious pension transfers
Posted: 8/11/21
The Tesco Plc Pension Scheme and the Tesco Retirement Savings Plan have committed to their investments having net-zero carbon emissions by 2050
Posted: 8/11/21
Over 130 cross-party MPs have signed a letter calling on Parliamentary Contributory Pension Fund (PCPF) trustees to divest the scheme from the fossil fuel industry amid COP26
Posted: 8/11/21
Treasury Committee chair, Mel Stride, has written to four tech firms for information on their policies to tackle online scams and protect consumers online
Posted: 8/11/21
Savers could lose track of an estimated £64bn in pension savings due to out of date contact details, with just 37 per cent of savers updating their addresses with their pension provider prior to moving home, research from PensionBee has found
Posted: 8/11/21
Every pension bulk annuity insurer showed improvements in enhancing and developing their environmental, social and governance (ESG) procedures in 2020, according to Willis Towers Watson (WTW)
Posted: 8/11/21
Abrdn has confirmed that it is currently holding discussions with J.C. Flowers & Co over the potential acquisition of Interactive Investor (II)
Posted: 8/11/21
Industry experts have welcomed recent changes to the government's implementation of an increased normal minimum pension age (NMPA), although concerns around the complexity involved remain
Posted: 5/11/21
RSM UK’s (2006) Retirement Benefit Scheme pension trustee has become the latest signatory to the 2021 Global Investor Statement
Posted: 5/11/21
More than a quarter (28 per cent) of 18-24-year-olds have chosen to opt out of their workplace pension to save money in other ways, with many showing more interest in cryptocurrency, according to research from NerdWallet
Posted: 5/11/21
The latest news in brief and mandates from the past seven days
Posted: 5/11/21
University and College Union (UCU) members have supported the call for strike action over proposed changes to the Universities Superannuation Scheme, with 76 per cent voting to back strike action in recent ballots
Posted: 5/11/21
Overall growth in the fiduciary management (FM) space was positive over the past 12 months, but slowed in comparison to the preceding year, Isio has revealed
Posted: 4/11/21
Pension scheme members are “sidestepping” the Financial Conduct Authority’s (FCA) Investment Pathways and remaining invested in scheme defaults, according to a report by Richard Parkin Consulting on behalf of the Defined Contribution Investment Forum (DCIF)
Posted: 4/11/21
The Financial Conduct Authority (FCA) has published a discussion paper to seek views on new sustainability disclosure requirements (SDR) for asset managers and FCA-regulated asset owners, and a new classification and labelling system for sustainable investment products
Posted: 4/11/21
The government has shortened and closed the window of time during which people can either join or transfer into a scheme that can offer a protected pension age of 55 or 56 in light of stakeholder concerns
Posted: 4/11/21
The Fire Brigades Union (FBU) has issued a letter before claim for Judicial Review proceedings against the government over the use of the cost control mechanism on the Firefighters Pension Scheme (2015)
Posted: 4/11/21
UK defined benefit (DB) pension scheme liabilities increased by around £60bn following the Chancellor’s Autumn Budget, bringing the total increase over October to around £100bn, according to XPS’s DB:UK Funding Tracker
Posted: 4/11/21
Secretary of State for Work and Pensions, Thérèse Coffey, has urged world leaders at COP26 to follow the UK’s lead in utilising the investment power of pension funds in the fight against climate change
Posted: 4/11/21
The People’s Pension (TPP) has urged the pensions industry to focus its climate change efforts on pension scheme default funds
Posted: 3/11/21
The government has announced plans that aim to help the UK become the “world’s first” net-zero aligned finance centre
Posted: 3/11/21
Recently retired Association of Member Nominated Trustees (AMNT) co-chair, David Weeks, has died of cancer
Posted: 3/11/21
Smart Pension Master Trust, Collegia and River & Mercantile have become the latest adopters of the Impact Investing Principles for Pensions
Posted: 3/11/21
The Universities Superannuation Scheme (USS) has said that it is “comfortable” that the legal challenge recently brought to the High Court by university academics has “absolutely no merit”
Posted: 3/11/21
The government has faced a defeat on the state pension triple lock in the House of Lords, after peers voted 220 to 178 to support an amendment to retain the earnings link
Posted: 3/11/21
CEOs of Nordic and UK pension funds at COP26 have announced a collective financial commitment to invest US$130bn in clean energy and climate investments by 2030
Posted: 2/11/21
Aegon Asset Management (AM) has become the latest signatory to the Net Zero Asset Managers initiative, committing to net-zero greenhouse gas emissions for its general account investment by 2050
Posted: 2/11/21
Brunel Pension Partnership has transferred more than £3bn from five pension fund clients to the new Paris-aligned benchmark series, developed in coordination with FTSE Russell
Posted: 2/11/21
Daily Mail owner, DMGT, is close to agreeing a deal with Rothermere Continuation Limited that would see approximately £400m injected into the firm’s pension schemes
Posted: 2/11/21
The John Townsend Trust Pension and Assurance Scheme has agreed a £30m full scheme buy-in deal with Legal & General (L&G) Assurance Society
Posted: 2/11/21
An “alarming” 35 per cent of savers knew that their pension was invested in the stock market, while a third (33 per cent) believed it was not and a further 32 per cent were unsure, research from Hargreaves Lansdown has found
Posted: 2/11/21
The aggregate accounting deficit of FTSE 350 companies’ defined benefit (DB) pension schemes increased by £6bn over the course of October, reaching £94bn at the end of the month, according to Mercer’s Pension Risk Survey
Posted: 2/11/21
The Department for Work and Pensions (DWP) has launched a consultation on plans to increase the Fraud Compensation Levy (FCL) ceiling for the levy year 2022/23 onwards.

Under the proposed changes, the FCL ceiling would allow levy rates to be set by the Pension Protection Fund (PPF) to a maximum of 65 pence per member for master trusts and £1.80 per member for other eligible occupational schemes
Posted: 1/11/21
The aggregate surplus of defined benefit (DB) pension schemes in the UK increased by £10bn in October to £30bn, according to the PwC Pension Funding Index
Posted: 1/11/21
The Department for Work and Pensions (DWP) has published an independent report on the Money and Pensions Service (Maps) that outlines a series of recommendations to improve the organisation’s efficiency and service
Posted: 1/11/21
University academics have issued proceedings in the High Court against Universities Superannuation Scheme (USS) directors regarding concerns about the scheme’s 2020 valuation process
Posted: 1/11/21
TPT Retirement Solutions has announced plans to invest £54m into private equity through its defined contribution (DC) master trust default Target Date Funds
Posted: 1/11/21
Around 400 doctors have unnecessarily paid over £11m in Lifetime Allowance (LTA) charges, a freedom of information request from Quilter has revealed
Posted: 1/11/21
Nearly half (47 per cent) of UK defined benefit (DB) pension schemes are targeting buyout as their long-term target, whilst 34 per cent are targeting self-sufficiency, research from Aon has revealed
Posted: 1/11/21
University and College Union (UCU) has called on the Universities Superannuation Scheme (USS) to pause the 2020 valuation process until a resolution can be agreed or there has been an application to the High Court to review the USS’s decisions
Posted: 1/11/21
Tobacco has the potential to become a stranded asset as it displays “similar characteristics” to coal, according to National Employment Savings Trust (Nest) chief investment officer, Mark Fawcett
Posted: 29/10/21
The deadline for submitting entries to the Pensions Age Awards 2022 has been extended to the 11 November 2021
Posted: 29/10/21
Growing regulatory complexity remains a top industry challenge, with over three quarters (76 per cent) of independent trustees admitting that they struggle with the growing complexity of pensions, according to industry research
Posted: 29/10/21
Seven new signatories have joined Make My Money Matter’s (MMMM) Green Pensions Charter ahead of COP26, with a total of 70 UK organisations now pledged to green their pension to help combat climate change
Posted: 29/10/21
Pension scheme inflation hedging activity increased by 11 percent quarter-on-quarter to £27.5bn amid concerns over global supply chain issues, BMO Global Asset Management’s quarterly LDI survey has revealed
Posted: 29/10/21
Concerns have been raised over the “looming problem of lost pensions”, after research from Hargreaves Lansdown found that one third of 18-24 and 35-44 year olds have three or more pensions
Posted: 29/10/21
HMRC repaid £44,659,174 in overpaid tax on flexible pension withdrawals in Q3 2021, with an average reclaim of £3,352, the government’s latest Pension Schemes Newsletter has revealed
Posted: 29/10/21
The latest news in brief and mandates from the past seven days
Posted: 29/10/21
The Department for Work and Pensions (DWP) has said that "lots of lessons" have been learned from the official underpayment of state pensions, confirming that the government is "determined" to rectify the issue by 2023
Posted: 28/10/21
The Money and Pensions Service (Maps) has appointed four finance and technology executives to its Advisory Group
Posted: 28/10/21
Industry experts have warned that the government has “missed” an opportunity in the recent budget to address concerns around pension issues
Posted: 28/10/21
Industry organisations have warned that the government's plan for further regulatory changes to the charge cap for defined contribution (DC) pension schemes may “miss the point” in encouraging greater investment in illiquid assets
Posted: 28/10/21
More than a third (39.9 per cent) savers aged 18-35 are pessimistic and disinterested towards pensions, whilst 32.9 per cent are worried and unsure, according to research from the Pension Policy Institute (PPI)
Posted: 28/10/21
There is still “much work” to be done for pension schemes to assess and adapt to climate-related risks and opportunities, The Pensions Regulator (TPR) has warned
Posted: 28/10/21
Industry experts have warned that pensioners could face financial strain in light of the news that inflation is expected to remain elevated across 2022 and 2023, with the Chancellor’s Budget forecasting further increases in inflation rates to 4 per cent
Posted: 27/10/21
An increase to the National Living Wage, announced in the Budget by Chancellor, Rishi Sunak, will have a positive impact on auto-enrolment pensions, according to one pensions expert
Posted: 27/10/21
The government has announced plans to introduce a top-up system for low earners in net-pay arrangements from 2024-25 in an effort to “broadly equalise outcomes for all lower earning pension savers”
Posted: 27/10/21
The government has confirmed that it will consult on further changes to the regulatory charge cap for pension schemes in an effort to unlock institutional investment to drive innovation
Posted: 27/10/21
The Pensions Dashboards Programme (PDP) is on track to begin the alpha testing phase for pensions dashboards in December 2021, with the government also expected to consult on secondary legislation "this winter"
Posted: 27/10/21
Smart Pensions has confirmed that the majority (71 per cent) of its master trust default investment strategy assets are now invested in portfolios with a “strict” environmental, social and governance (ESG) assessment
Posted: 27/10/21
A defined benefit (DB) master trust self-certification regime has been launched in an effort to help scheme trustees and employers who may be considering this as a consolidation option to understand the key features
Posted: 27/10/21
HM Treasury (HMT) has been urged to use the appointment selection of a new Financial Conduct Authority (FCA) chair as an “opportunity” in introduce “much-needed diversity of thinking” to the FCA’s leadership team
Posted: 27/10/21
UK pension scheme investments enable the release of around 330m tonnes of carbon every year, according to analysis from Make My Money Matter (MMMM) and Route2
Posted: 27/10/21
The government has been accused of misleading parliament and the public over the taxpayer cost of public service pensions, after analysis from the Institute of Economic Affairs (IEA) estimated an unreported annual cost of around £57bn
Posted: 26/10/21
Industry experts have welcomed the Financial Conduct Authority’s finalised rules on the Long-Term Asset Fund (LTAF), although concerns remain around the charges involved and potential delays for members due to liquidity issues
Posted: 26/10/21
The majority (92 per cent) of high-net-worth-individuals are underestimating how much money they need in retirement, according to the inaugural Saltus Wealth Index, with the average respondent misjudging the amount needed by almost half
Posted: 26/10/21
Employers should "rise to the challenge" when undertaking member consultations to ensure that potential pension scheme changes are being properly communicated with members, Gallagher has said
Posted: 26/10/21
Defined benefit (DB) pension schemes trustees are unanimous in their belief that there is room for improvement in the way in which their schemes are run, according to a survey from Hymans Robertson
Posted: 26/10/21
Over half (57 per cent) of pension scheme trustees struggle with a lack of consistent data and inability to make comparisons, while 72 per cent require better environmental, social and governance (ESG) and carbon data, research from CACEIS has found
Posted: 26/10/21
Cushon has announced plans to target 15 per cent allocation to private markets under its new investment strategy, expected to launch in early 2022
Posted: 25/10/21
The current definition of employer in draft regulations regarding The Pensions Regulator’s increased notifiable event powers could represent a “fundamental weakness”, the Society of Pension Professionals (SPP) has warned
Posted: 25/10/21
Poor disclosure levels and generic statements on climate change voting policies are “hindering market competition” and the ability for trustees to make effective investment decisions, the Association of Member Nominated Trustees (AMNT) has warned
Posted: 25/10/21
The Financial Conduct Authority (FCA) has finalised the rules for its Long-term Asset Fund (LTAF) framework in an effort to encourage greater investment in long-term illiquid assets and generate better returns for pension savers
Posted: 25/10/21
Industry experts have welcomed the government’s new climate-disclosure proposals and agreed that more needs to be done to tackle climate change, with analysis suggesting that the typical defined benefit (DB) scheme is currently aligned to a 3°C outcome
Posted: 25/10/2021
Nearly a quarter (23.9 per cent) of defined benefit (DB) pension scheme trustees are unsure what their long-term endgame strategy is, according to research from Barnett Waddingham
Posted: 25/10/2021
Secretary of State for Work and Pensions, Thérèse Coffey, has identified the pensions industry as a “superpower in delivering prosperity for people and the planet in our race to net zero”, emphasising that new requirements are "not about box-ticking"
Posted: 22/10/21
Phoenix Group has called for urgent action from the financial services industry in three “key” areas in the fight against climate change
Posted: 22/10/21
Around 39 per cent defined contribution (DC) pension schemes do not include environmental, social and governance (ESG) factors in the design of their default investment strategies, research from LCP has found
Posted: 22/10/21
Legislative change is needed to extend internet companies' duties in the Online Safety Bill to include paid-for advertising, according to the Financial Conduct Authority’s (FCA) latest Perimeter Report
Posted: 22/10/21
Comprehensive guidance on The Pensions Regulator’s (TPR) extended employer-related notifiable event powers is “absolutely essential” and needed as soon as possible, the Association of Consulting Actuaries (ACA) has said.

In its response to the government's consultation on the regulator’s enhanced powers, the association called for the guidance to be issued before the modified provisions come into force “at the very latest”
Posted: 22/10/21
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Posted: 22/10/21
The Pensions Regulator (TPR) has confirmed that it will press ahead with plans to ask trustees of defined benefit (DB) pension schemes for more information about how they allocate their assets from 2023
Posted: 21/10/21
The winners of the 14th annual European Pensions Awards were announced last night at the highly anticipated annual gala dinner at the prestigious London Marriott Hotel Grosvenor Square
Posted: 21/10/21
Cardano Group has agreed to acquire Dutch asset management firm, ACTIAM, from Athora Netherlands N.V. for an undisclosed fee
Posted: 21/10/21
The government has published a consultation on plans to require pension trustees to calculate and disclose a portfolio alignment metric setting out the extent to which their investments are aligned with the Paris Agreement goals
Posted: 21/10/21
SEI has agreed to acquire Capita’s defined contribution (DC) master trust, Atlas, for an undisclosed sum, subject to regulatory approval
Posted: 21/10/21
PerkinElmer UK Pension Scheme has completed a £130m full scheme buy-in with Standard Life, covering all 900 pensioner and deferred members
Posted: 21/10/21
UK pension schemes have an estimated £128bn invested in fossil fuels, representing around £1,916 for every person in the UK, according to research from Friends of the Earth
Posted: 21/10/21
The National Audit Office (NAO) has announced that it will be conducting an investigation in spring 2022 into the Financial Conduct Authority’s (FCA) handling of the British Steel Pension Scheme (BSPS) transfer scandal
Posted: 20/10/21
Pensioners could face a “squeeze” on their living standards in the next financial year, as the dip in inflation seen in today’s Consumer Prices Index means that the state pension will be uprated by 3.1 per cent in April
Posted: 20/10/21
The average pension transfer time has continued to slow in Q3 2021, with both overall and simple transfers recording an increase in the average transfer time over this period, according to figures from the Origo Transfer Index (OTI)
Posted: 20/10/21
One in five people would not increase their pension contributions “no matter what”, research from Hargreaves Lansdown has found
Posted: 20/10/21
Nearly a quarter (23 per cent) of the UK’s independent schools have left, or are planning to leave, the Teachers’ Pension Scheme, according to a freedom of information request made by Punter Southall Aspire
Posted: 20/10/21
Regulations for the introduction of simpler annual benefit statements for auto-enrolment defined contribution (DC) pension schemes will come into force in October 2022
Posted: 19/10/21
Scottish Widows is writing to 50 large companies to urge them to put improving cognitive diversity on their agendas
Posted: 19/10/21
More than half (56 per cent) of British retirees have never heard of the Money Purchase Annual Allowance (MPAA), research from Legal & General Investment Management (LGIM) has found
Posted: 19/10/21
The government has outlined further details on the proposed Sustainability Disclosure Requirements (SDRs) in its Roadmap to Sustainable Investing, with hopes that this will "empower” pension schemes to consider climate-related factors in their decision making
Posted: 19/10/21
Members have more interest in the value of their pension savings than charges, with just 49 out of 1,016 respondents marking cost and charge information as an area of significant interest in a recent survey by Ignition House
Posted: 19/10/21
The Pensions Ombudsman (TPO) has issued guidance on best practice for communicating with pension scheme members to help the industry avoid ombudsman investigations
Posted: 19/10/21
The UK has seen a “considerable increase” in its overall score in the annual Mercer CFA Institute Global Pension Index, jumping from 15th to ninth position in the global rankings, although the gender pensions gap remains a global concern
Posted: 19/10/21
The Financial Conduct Authority (FCA) has written to around 3,591 defined benefit (DB) pension transfer advice customers over the past year to outline how they can make a claim to the Financial Services Compensation Scheme (FSCS)
Posted: 19/10/21
The Pension Protection Fund (PPF) paid out £1bn in member compensation for the first time ever in 2020/21, up from £860m the previous year, its 2020/21 Annual Report and Accounts have revealed
Posted: 18/10/21
University and College Union (UCU) has begun balloting members on potential strike action over proposed changes to the Universities Superannuation Scheme (USS), alongside pay and working condition concerns
Posted: 18/10/21
The government should use the upcoming Budget to make “targeted interventions” on issues such as auto-enrolment, rather than "tinkering or radical reform" to the pension tax relief system, Aegon has said
Posted: 18/10/21
Less than a third (30 per cent) of pension professionals believe that pensions dashboards will provide useful and comprehensive information to the majority of consumers by 2025
Posted: 18/10/21
Over a third (38 per cent) of defined contribution (DC) pension scheme members aged 50-65 are unaware of their tax-free pension allowance, a survey from Hymans Robertson has found
Posted: 18/10/21
The government has been urged to “level the pensions playing field” by scrapping differential rates of pensions tax relief, after PensionBee found that around £2.5bn of tax relief for higher earners was going unclaimed
Posted: 18/10/21
The Financial Conduct Authority (FCA) has fined former Consumer Wealth director and senior financial adviser, Omar Hussein, £116,000 and banned him from working in financial services for providing reckless and unsuitable pension switching advice
Posted: 18/10/21
The government has launched a consultation on proposed changes to the contributions that members pay into the NHS Pension Scheme in light of the move to a career average revalued earnings (CARE) model
Posted: 15/10/21
Just over a third (35 per cent) of defined benefit (DB) pension schemes are likely to meet the fast track parameters in The Pensions Regulator’s (TPR) forthcoming DB Funding Code, according to Hymans Robertson
Posted: 15/10/21
Individuals in 'Generation X' need to save around £330,330 to retire comfortably on an income of £23,595 per year, yet many are not on track to reach this goal, research from Blacktower Financial Management Group has suggested
Posted: 15/10/21
Charles Randell will step down from his position as Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) chair in spring 2022
Posted: 15/10/21
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Posted: 15/10/21
The Task Force on Climate-related Financial Disclosures (TCFD) has warned that "significant work" remains to be done to 'mainstream' the consideration of climate-related issues in financial decision-making, despite growing global support
Posted: 15/10/21
More than three-quarters (76 per cent) of professional defined benefit (DB) pension trustees are yet to set a long-term funding target, research from Charles Stanley Fiduciary Management (CSFM) has found
Posted: 15/10/21
More evidence is needed to understand the benefits of consolidating small pension pots, Which? senior economist, Stephen McDonald, has warned
Posted: 14/10/2021
The pensions industry should adopt three foundational messages to improve engagement amongst middle-aged savers, according to new industry research
Posted: 14/10/21
There are three ‘key lessons’ that the UK can learn from Australia in tackling the issue of high numbers small, deferred pension pots, according to Association of Superannuation Funds of Australia chief executive officer, Martin Fahy
Posted: 14/10/21
Defined benefit (DB) master trusts could present a solution to concerns over a lack of succession planning on DB pension boards, according to TPT Retirement Solutions national development manager, Jonathan Jackaman
Posted: 14/10/21
Guidance and advice can be used together effectively to benefit savers and does not have to be a case of either/or, Money and Pensions Service (Maps) chief executive, Caroline Siarkiewicz, has suggested
Posted: 14/10/21
The industry “should be in no doubt” that the Financial Conduct Authority (FCA) will take an assertive approach when needed, FCA executive director, markets, Sarah Pritchard, has said, with "decisive action" to be expected on defined benefit (DB) transfer issues
Posted: 14/10/21
The Pensions and Lifetime Savings Association (PLSA) has published a series of case studies on workplace pension providers enacting climate policies, with the aim of helping pension schemes meet climate goals
Posted: 14/10/21
The UK is “walking into a pension crisis” due to the inadequate amount of money going into long-term savings, incoming Pensions and Lifetime Savings Association (PLSA) chair, Emma Douglas, has warned
Posted: 14/10/21
The pensions industry must use its voice and “collective wisdom” to help nurture and protect the pensions landscape, and legislative and regulatory framework, outgoing Pensions and Lifetime Savings Association (PLSA) chair, Richard Butcher has said
Posted: 14/10/21
The Department for Work and Pensions’ (DWP) draft regulations on pensions dashboards are expected to be published “before the end of this year or early into next year”, according to Pensions Dashboards Programme (PDP) principal, Chris Curry
Posted: 13/10/21
UK savers are facing higher levels of debt and increasing financial responsibilities amid Covid-19, which are placing greater pressure on pension income than in the past, according to Pensions Policy Institute (PPI) head of policy research, Daniela Silcock
Posted: 13/10/21
Only £0.6bn in savings would be achieved if pensions tax relief was reformed to a single flat rate of 25 per cent, PLSA policy board member and LCP head of DC, Laura Myers, has warned, amidst speculation the government may look to the pensions sector to claw back savings in the upcoming autumn Budget
Posted: 13/10/21
The Pensions Regulator (TPR) has reassured the industry that trustees that "take good advice and pay good attention" in making decisions on behalf of pension savers have “nothing to fear from the criminal sanctions” recently introduced
Posted: 13/10/21
Nearly a third (30 per cent) of pension schemes in the UK have no plans to commit to net-zero carbon emissions, according to research from Aon
Posted: 13/10/21
The proportion of defined benefit pension transfers with scam red flags has fallen for the fourth month in a row but remain a "cause for concern for trustees and sponsors", according to XPS Pensions Group
Posted: 13/10/21
Industry experts have shared mixed views as to whether greater support is needed to "embolden" trustees to take action against climate change, with varied support for both an evolution of fiduciary duty and mandating for net zero amongst pension schemes
Posted: 13/10/21
The People’s Pension (TPP) has removed £226m worth of investment from companies that have failed to meet its environmental, social and governance (ESG) standards
Posted: 13/10/21
The Pensions Regulator (TPR) has announced plans to set up a series of panels to engage with the industry, savers and employers on how it measures the mitigation of risk in areas such as climate change
Posted: 13/10/21
The volume of pension risk transfer transactions totalled £7.7bn in the first half of 2021, according to analysis by Hymans Robertson
Posted: 13/10/21
In light of Baby Loss Awareness Week, Dalriada Trustees professional pensions trustee, Angela Stokes, highlights how the seemingly innocuous networking question of 'how many children do you have?' can be painful for some to answer
Posted: 13/10/21
Collective defined contribution (CDC) pensions can provide better benefits than many DB or DC schemes, PLSA Policy Board incoming chair, and Railpen chief executive, John Chilman, has claimed
Posted: 13/10/21
Octopus Renewables has won a new £150m corporate pension mandate, the Renewable Energy Income Partnership IV (REIP IV), with a large UK-based institutional investor to invest in renewable energy infrastructure
Posted: 13/10/21
Pensions Minister, Guy Opperman, has confirmed his intention to regulate for simpler annual benefit statements "shortly" and to introduce a self-certification system for defined benefit (DB) master trusts (MT) "soon".

He stated that he also intends to legislate for a statement season, with both the season and simpler statements being subject to recent consultation
Posted: 12/10/21
Industry experts have said that “much stronger” and earlier engagement is needed to support defined contribution (DC) savers through the decumulation journey, in addition to the stronger nudge measures currently planned
Posted: 12/10/2021
Regulators remain "powerless" to hold online firms to account for paid-for scam adverts, with savers facing a "growing risk" of pension scams at the point of retirement, Work and Pensions Committee chair, Stephen Timms, has warned
Posted: 12/10/21
More than half (58 per cent) of UK adults have never consolidated a pension, despite over a third (36 per cent) of savers stating that they would be interested in bringing their retirement savings together, research from Aegon has revealed
Posted: 12/10/21
The pensions industry leading the global conversation on the need to fundamentally change how capitalism is viewed and the way finance is organised “would be a great thing”, according to economist and author, Professor Mariana Mazzucato
Posted: 12/10/21
The aggregate surplus of UK defined benefit (DB) pension schemes increased by £25.6bn to £108.8bn as of the end of September 2021, according to the Pension Protection Fund (PPF) 7800 Index
Posted: 12/10/21
The Sanofi Pension Scheme has agreed a £760m buy-in with Legal & General (L&G) Assurance Society, securing the benefits of around 2,900 retirees
Posted: 12/10/21
Dalriada Trustees has committed to reaching net-zero carbon emissions across the pension schemes where it acts as a sole trustee by 2040, alongside a number of interim targets
Posted: 12/10/2021
The Pensions and Lifetime Savings Association (PLSA) has updated its Retirement Living Standards (RLS) to reflect people’s changing expectations for living in retirement
Posted: 12/10/21
The Pensions and Lifetime Savings Association (PLSA) will return to having face-to-face conferences in 2022 following 18 months of virtual events
Posted: 12/10/21
The Association of British Insurers (ABI) has written a letter to the Work and Pensions Committee (WPC) outlining its “grave concerns” about the government's current proposals to raise the normal minimum pensions age (NMPA).

It called for the current plan, which was consulted on and confirmed earlier this year, to be paused “as a matter of urgency” until a simpler solution could be found, and asked for the WPC to support raising the matter with the government
Posted: 11/10/21
The government should ensure that any pension changes in the Budget make it "easier for people to do the right thing", Hargreaves Lansdown has said, warning against cuts to the pension Lifetime Allowance (LTA) and Annual Allowance (AA)
Posted: 11/10/21
Confederation of British Industry head of employment, Jennifer Beckwith, discusses the findings of the CBI/Mercer report on the pensions landscape during the Covid-19 pandemic and what the future may hold
Posted: 11/10/21
Willis Towers Watson (WTW) and Qontigo have announced the launch of the STOXX WTW Climate Transition Indices (CTI), which utilise a new methodology to quantify the impact of a Paris-aligned climate transition on equity valuations
Posted: 11/10/21
More than 9 in 10 (92 per cent) companies with defined contribution (DC) pension schemes did not reduce their contributions during the Covid-19 pandemic, according to research by CBI and Mercer
Posted: 11/10/21
Around £2trn of pension scheme money is not aligned with the Paris Climate Agreement, with 71 out of 100 major UK pension schemes yet to make robust net-zero emissions commitments, according to research from Make My Money Matter (MMMM)
Posted: 11/10/21
BlackRock has announced that large pension schemes and other institutional investors invested in certain index strategies will be able to participate directly in proxy voting at its annual general meetings (AGM) from 2022
Posted: 8/10/21
Universities UK (UUK) has developed a contributions calculator to show how much Universities Superannuation Scheme (USS) members could be paying each month if employer-backed reforms currently under consultation are blocked by strike action
Posted: 8/10/21
More than one in 10 (12 per cent) of over-50s, the equivalent of 3 million people, said they were likely to delay retirement due to financial pressures caused by the Covid-19 pandemic, according to research by OneFamily
Posted: 8/10/21
Almost nine in 10 (87.7 per cent) organisations offer pension contribution rates in excess of the current statutory auto-enrolment minimum, research from Gallagher has revealed
Posted: 8/10/21
The HSBC Bank (UK) Pension Scheme has committed to achieving net-zero greenhouse gas emissions across its £36bn of defined benefit (DB) and open defined contribution (DC) assets by 2050
Posted: 8/10/21
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Posted: 8/10/21
Tesco’s IAS 19 defined benefit (DB) pension deficit decreased by £549m in the six months preceding August 2021, the supermarket chain’s interim results have revealed
Posted: 8/10/21
Pension scheme sponsoring employers may be “left guessing” as to whether their activities could lead to enforcement action under The Pensions Regulator’s (TPR) enhanced Contribution Notice powers, LCP has warned
Posted: 7/10/21
The Pensions Ombudsman (TPO) has upheld a complaint against NHS Business Services Authority (BSA) and Primary Care Support England (PCSE)
Posted: 7/10/21
The Miracle Garden Care Pension Scheme has completed a £49m bulk annuity transaction with Just Group, covering over 140 pensioner and deferred members of the scheme
Posted: 7/10/21
The government should expedite auto-enrolment reforms to help address the ongoing national labour shortage, PensionBee has urged
Posted: 7/10/21
Pensions covenant advisory firm, Lincoln Pensions, has renamed as Cardano Advisory as it continues its rebrand following its acquisition by Cardano in 2016
Posted: 7/10/21
The Pensions Dashboards Programme (PDP) is seeking up to three commercial organisations that intend to provide a pensions dashboard to help test the development of the dashboard ecosystem
Posted: 6/10/21
Over a third (36 per cent) of UK savers are less trustful of government pension policy as a result of the recent decision to suspend the state pension triple lock, increasing to 52 per cent amongst those aged 65 and over, research from NerdWallet has found
Posted: 6/10/21
The Pension Protection Fund (PPF) has launched a tender to appoint a specialist panel to provide transaction advice to schemes in PPF assessment that are overfunded on a PPF basis (PPF+)
Posted: 6/10/21
The combined deficit of defined benefit (DB) pension schemes against long-term funding targets fell by £34bn to £286bn in September, according to XPS Pension's DB:UK funding tracker, despite inflation reaching its highest level in over a decade
Posted: 6/10/21
DWS Group has acquired a minority stake in Smart Pension for an undisclosed fee
Posted: 6/10/21
The risk appetite of pension schemes and other institutional investors is expected to increase over the next two years, according to research from Nickel Digital Asset Management
Posted: 6/10/21
The Avon Pension Fund and the Transport for London (TfL) Pension Fund have stepped up their commitment to reach net-zero targets, outlining "ambitious" interim objectives to help reach the goals of the Paris Agreement
Posted: 6/10/21
Nearly three in five (59 per cent) workers who made reductions to their pension contributions due to the Covid-19 pandemic have since resumed or increased their payments, according to Royal London
Posted: 6/10/21
Middle market businesses have been encouraged to remain vigilant and tread carefully until there is more clarity on how The Pensions Regulator (TPR) plans to use its powers around new criminal offences
Posted: 5/10/21
FTSE 100 defined benefit (DB) pension scheme sponsors could need to provide an additional £5bn in financial support to their schemes amid higher levels of inflation and potentially stricter rules under the The Pensions Regulator's (TPR) new funding regime, LCP has warned
Posted: 5/10/21
Phoenix Group has announced a programme of investment for Standard Life, following its acquisition of the brand in May 2021
Posted: 5/10/21
The government has confirmed that it will be implementing all three proposed reforms to the cost control mechanism and discount rate methodology of public service pension schemes
Posted: 5/10/21
Former Pensions Minister, Baroness Ros Altmann, discusses the drivers behind the gender pensions gap, and what the government and industry can do to help address the issue
Posted: 5/10/21
Over a third (34 per cent) of UK savers want pension providers to be more transparent about the companies they invest in, with 82 per cent stating that their pension provider has not been transparent about where their pension is invested, research from NerdWallet has found
Posted: 5/10/21
Phoenix Group has committed to reducing its carbon emission intensity for its £250bn investment portfolio by at least 50 per cent by 2030, as part of its pathway to meet net-zero carbon investments by 2050
Posted: 4/10/21
The Financial Conduct Authority (FCA) has published a policy statement on new rules, which come into force from today (4 October 2021), for assessing value for money (VFM) in workplace pension schemes and pathway investments
Posted: 4/10/21
The aggregate accounting deficit of FTSE 350 companies’ defined benefit (DB) pension schemes increased by £1bn over September to £88bn, according to Mercer’s latest Pensions Risk Survey
Posted: 4/10/21
The Metal Box Pension Scheme has secured a £2.2bn buy-in with Pension Insurance Corporation (PIC), securing the benefits for its 10,300 pensioners and 2,200 non-pensioner members, with a move to buyout expected in November 2021
Posted: 4/10/21
Access to defined benefit (DB) pension transfer advice could decline further unless action is taken by the industry, research has shown, as nearly a third (31 per cent) of active advisers are unsure if they will still be providing transfer advice in a year’s time
Posted: 4/10/21
The total fees paid by members transferring their defined benefit (DB) pensions increased by 10 per cent over the past year, from 1.7 per cent per annum (pa) to 1.9 per cent pa, according to the XPS Pensions Group’s annual member outcomes survey
Posted: 4/10/21
Self-employed pension saving levels hit record lows in 2019/20, figures from HMRC have shown, with self-employed workers contributing £830m to pensions during the year, compared to £1.15bn in 2018/19
Posted: 1/10/21
More than half (52 per cent) of savers believe that getting the best possible investment returns is more important than investing responsibly, with over a fifth (21 per cent) rejecting responsible investment as “just a fad”, industry research has found
Posted: 1/10/21
The total value of Lifetime Allowance (LTA) charges rose by 21 per cent to £342m in 2019/20, up from £283m in 2018/19, HMRC figures have shown
Posted: 1/10/21
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Posted: 1/10/21
The aggregate surplus of defined benefit (DB) pension schemes in the UK remained at £20bn in September, according to the PwC Pension Funding Index
Posted: 1/10/21
The Small Pots Co-ordination Group (SPCG) has made “strong headway” on developing solutions to the high number of small, deferred pension pots, according to its first progress report
Posted: 30/9/21
The cost of pensions tax relief increased by £4.4bn to £41.3bn between 2017/18 and 2019/20, figures from HMRC have revealed
Posted: 30/9/21
Up to £650bn of buy-ins and buyouts could be seen over the next decade amid a wave of demand in the UK pensions de-risking market, LCP has estimated, urging pension schemes to “grasp the nettle” and create practical strategic plans for reaching their end goal
Posted: 30/9/21
Almost all (98 per cent) defined benefit (DB) pension schemes in the UK are expected to be cashflow negative within the next 10 years, according to Mercer
Posted: 30/9/21
Nearly three-quarters of savers (70 per cent) are worried about investing in UK illiquid assets, including infrastructure and start-ups, due to concerns over potentially higher risks and costs, according to research from PensionBee
Posted: 30/9/21
The government should use the "major opportunity" of COP26 to show global leadership and work to build international consensus on the role of pension schemes in tackling climate change, according the Work and Pensions Committee (WPC)
Posted: 30/9/21
The Pensions Regulator (TPR) plans to take a supportive approach for the first wave of schemes trying to comply with Task Force on Climate-related Financial Disclosures' (TCFD) requirements
Posted: 30/9/21
An estimated £130m may have been lost in 2019 as a result of people not shopping around for an annuity provider, according to research from the Pensions Policy Institute (PPI)
Posted: 30/9/21
The cross-industry GMP Equalisation Working Group (GMPEWG), chaired by the Pensions Administration Standards Association (Pasa), has published supplemental guidance allowing for anti-franking when achieving guaranteed minimum pension (GMP) equality
Posted: 29/9/21
Nearly a fifth (17.5 per cent) of retirees have been a victim of a financial scam, research from the Financial Services Compensation Scheme (FSCS) has revealed
Posted: 29/9/21
The growing enthusiasm for environmental, social and governance (ESG) issues may have plateaued over the past year, with industry research suggesting that defined contribution (DC) pension savers' views may not be translating into their pension investments
Posted: 29/9/21
The Pensions Regulator (TPR) has published an update on how it plans to use new criminal powers to prosecute those who put savers’ pensions at risk, alongside a consultation on its approach to its other powers introduced by the Pension Schemes Act
Posted: 29/9/21
Nearly two-thirds (62 per cent) of defined benefit (DB) pension scheme professional trustees are planning to step down from their role within the next three years, according to research from Charles Stanley Fiduciary Management
Posted: 29/9/21
Around 220 global financial institutions, including UK pension schemes and asset managers, have called on 1,600 of the world’s highest impact companies to “urgently” set science-based emissions reduction targets ahead of COP26
Posted: 29/9/21
The Pensions and Lifetime Savings Association (PLSA) has published a list of pension policy recommendations it believes the government should consider in its upcoming Budget and Spending Review
Posted: 28/9/21
Around 47 per cent of defined benefit (DB) trustees believe that their appetite for investment risk has increased since pre-pandemic, but a lack of knowledge and "onerous regulation" could be hampering investment decisions, according to industry research
Posted: 28/9/21
Defined benefit (DB) pension scheme sponsors have been encouraged to factor the new risks presented by The Pensions Regulator’s (TPR) extended powers into business decision making
Posted: 28/9/21
The Pension Protection Fund (PPF) has launched a consultation on levy rules for 2022/23, with a strong funding position and stable levy rules resulting in a £105m fall in the levy estimate to £415m
Posted: 28/9/21
The Atkinson Northern Limited Retirement Benefits Scheme has completed an £8m buy-in with Legal & General (L&G), covering the benefits of 45 pension scheme members
Posted: 28/9/21
RPMI, the investment manager for the UK's Railways Pension Scheme, has rebranded to Railpen following several years of transition
Posted: 28/9/21
The upcoming end of the government’s furlough scheme and a potential rise in unemployment as a result has prompted concern from the pensions industry
Posted: 27/9/21
The cross-industry GMP Equalisation Working Group (GMPEWG) has published follow-up guidance on member communications, stressing that whilst GMP equalisation can be “very complicated", communications "don’t have to be”
Posted: 27/9/21
FTSE 350 defined benefit (DB) pension schemes have made an estimated £45bn worth of additional benefit payments since the introduction of pension freedoms in 2015, according to analysis from Barnett Waddingham (BW)
Posted: 27/9/21
PensionBee has called on the government to legislate for a 10-day pension provider transfer guarantee, after finding that switching pension provider took longer than other ‘essential’ services
Posted: 27/9/21
The Productive Finance Working Group has outlined a series of recommendations to facilitate greater investment in longer-term, less liquid assets by defined contribution (DC) pension schemes, urging trustees to shift their focus to long-term value
Posted: 27/9/21
Defined benefit (DB) pension transfer values hit a record high of £264,300 on 24 August, before falling back to the £259,000 at the end of the month, whilst scam red flags continued to fall, according to XPS Pensions Group’s Transfer Watch
Posted: 27/9/21
Royal Mail has launched a consultation on the Royal Mail Collective Pension Plan, seeking views from CWU, Unite, employees of Royal Mail Group and employees of RM Property and Facilities Solutions Limited currently in the Royal Mail Pension Plan (RMPP)
Posted: 24/9/21
The latest news in brief and mandates from the past seven days
Posted: 24/9/21
Nearly half (46 per cent) of furloughed workers have changed their retirement plans, according to research from Canada Life
Posted: 24/9/21
Uber has announced roll-out plans for the first ever pension scheme for flexible workers in the private hire vehicle industry, urging other operators, such as Bolt, Addison Lee and Ola, to work with them to create a cross-industry pension scheme
Posted: 24/9/21
The market value of occupational UK pension schemes decreased slightly from £2.39trn to £2.36trn in the first quarter of 2021, according to quarterly estimates from the Office for National Statistics (ONS)
Posted: 24/9/21
Isio Group has acquired Premier Pensions Management, subject to Financial Conduct Authority (FCA) approval
Posted: 24/9/21
Gallagher has urged the pensions industry to fundamentally rethink member engagement, encouraging trustees to push forwards with digitisation
Posted: 23/9/21
Positive trends in the UK defined contribution (DC) pension market have continued despite the volatility seen in the markets amid the Covid-19 pandemic, with aggregate DC assets growing from £471bn in 2020 to £490bn in 2021, according to industry research
Posted: 23/9/21
The Department for Work and Pensions (DWP) has launched a consultation on the proposed move from 3.5 per cent per annum (pa) to 3.25 per cent pa in the rate of revaluation applied to fixed rate revaluation of Guaranteed Minimum Pension (GMP) for early leavers
Posted: 23/9/21
Smaller defined contribution (DC) pension schemes have been reminded by The Pensions Regulator (TPR) to prepare for a more rigorous value for money (VFM) assessments in line with regulations coming into force with effect from October
Posted: 23/9/21
Nearly half (47 per cent) of people in work do not know how to plan for their retirement, according to Aviva, leading the company to call on employers to do more to help their employees
Posted: 23/9/21
Transfer quotations have reached the lowest take-up rate since 2015, falling to 15 per cent in Q4 2020, the month in which the Financial Conduct Authority's (FCA) ban on contingent charging came into effect, according to analysis by LCP
Posted: 23/9/21
London Pensions Fund Authority (LPFA) has committed to bring carbon emissions across the LPFA Fund to a target-based net zero goal by 2050 and to set up an interim target for 2030
Posted: 22/9/21
Pensions Minister, Guy Opperman, has reaffirmed the government’s commitment to implementing the 2017 Automatic Enrolment Review recommendations in the “mid-2020s” to expand coverage of the auto-enrolment initiative
Posted: 22/9/21
Age UK has urged the government to set out a clear reform programme to end later-life poverty and ensure the state pension covers basic needs, after analysis revealed that progress made in reducing pensioner poverty over the past decade is being reversed
Posted: 22/9/21
Years of human error led the Department for Work & Pensions (DWP) to underpay over £1bn in state pension payments to around 134,000 pensioners, according to the National Audit Office (NAO)
Posted: 22/9/21
The Pensions Regulator (TPR) has observed drawdown products being developed by master trusts and plans to “look at” their development over the course of next year
Posted: 22/9/21
The Selecta UK Pension Plan has completed a £250m full scheme buy-in with Legal & General (L&G), covering liabilities for around 1,000 deferred members and around 1,000 pensioner members
Posted: 22/9/21
The University and College Union (UCU) has confirmed that strike ballots will open at UK universities on 18 October in response to proposed changes to the Universities Superannuation Scheme (USS), with industrial action expected "before the end of the year"
Posted: 22/9/21
The Ashwal Garage section of the Motor Industry Pension Plan has completed a bulk annuity deal with Aviva
Posted: 21/9/21
The proportion of defined benefit (DB) pension trustees who believe that digital communications should be used to engage with members' needs has risen to 59 per cent amid the pandemic, up from just 5 per cent in 2020, according to Hymans Robertson
Posted: 21/9/21
Median annual earnings for individuals saving into a workplace pension have dropped from around £30,600 to £19,600 between 2011 and 2021, according to a report published by Nest Insight
Posted: 21/9/21
Keysight Technologies UK Limited Retirement Benefits Plan has completed a £250m buy-in transaction with Just Group, securing pension benefits for over 750 members of the scheme
Posted: 21/9/21
Defined benefit (DB) pension schemes' liabilities are estimated to have increased by around £46bn between 1 September to 15 September 2021 due to a fall in net interest rates, according to XPS’s DB:UK Funding Tracker
Posted: 21/9/21
The Taskforce on Pension Scheme Voting Implementation has published a report outlining its recommended changes to help tackle issues faced by trustees implementing their own voting policies
Posted: 21/9/21
Guy Opperman has been reappointed as the Pensions and Financial Inclusion Minister following the government's cabinet reshuffle, which also saw Thérèse Coffey remain as Secretary of State for Work and Pensions
Posted: 20/9/21
The increasing focus on net zero is "changing the game completely" for investors, with "massive" demand from pension schemes for integration of net zero within investment portfolios, according to BlackRock global head of alternative specialists, David Lomas
Posted: 20/9/21
The proposed statement season for defined contribution (DC) pensions should be rolled out in a measured fashion and developed alongside the Pensions Dashboards Programme to avoid a capacity crunch, according to Premier Pensions
Posted: 20/9/21
The Paris Aligned Investment Initiative Net Zero Asset Owner Commitment has welcomed 12 new asset owners to the group, bringing the total number of signatories to 40
Posted: 20/9/21
The use of carbon offsetting as a climate strategy for pension schemes is typically “smoke and mirrors” that does little to contribute towards the transition to net zero, according to B&CE chief investment officer, Nico Aspinall
Posted: 20/9/21
Twelve investment consulting firms, representing assets of around USD 10trn, have launched the Net Zero Investment Consultants Initiative (NZICI), committing to support a global goal to reach net-zero greenhouse gas emissions by 2050 or sooner
Posted: 20/9/21
The latest news in brief and mandates from the past seven days
Posted: 17/9/21
LCP has announced it will become operationally net zero this year, with the firm utilising carbon offsets to achieve the goal in the short term
Posted: 17/9/21
Bulk annuity transactions could reach record highs in 2022 if the right conditions are in place and depending on how quickly companies settle down to a normal operating environment, according to Aon’s latest UK Risk Settlement Market Update
Posted: 17/9/21
The John Laing Pension Fund has completed a £320m buy-in with Aviva, its second bulk annuity transaction with the insurer
Posted: 17/9/21
The Pension Protection Fund (PPF) is planning to launch a consultation on its 2022/23 levy rules “shortly”, according to its chief finance officer, Lisa McCrory
Posted: 17/9/21
Regulations introduced to combat scams should not present a resource issue for pension schemes but more work is required, particularly on information sharing and online scams, according to Pension Scams Industry Group (PSIG) chair, Margaret Snowdon
Posted: 17/9/21
Pensions Minister, Guy Opperman, has said that he is “broadly disappointed” by the low levels of action on stewardship by pension schemes, emphasising that there is still more for the industry to do to combat climate change
Posted: 17/9/21
The Pensions Administration Standards Association (Pasa) says it supports the introduction of a statement season, which would see defined contribution (DC) schemes used for auto-enrolment (AE) sending annual benefit statements within a time-limited window
Posted: 16/9/21
Smaller pension scheme buy-in and buyout deals are being crowded out of the market, according to LCP, whose research showed the number of deals worth less than £100m had fallen by 30 per cent in the past five years
Posted: 16/9/21
The Society of Pension Professionals (SPP) has developed a framework for trustees to monitor their obligations as part of a new environmental, social and governance (ESG) guide
Posted: 16/9/2021
A total of 587 investors representing over USD 46trn in assets have signed a statement calling on governments around the world to raise ambition and accelerate action to tackle the climate crisis
Posted: 16/9/21
The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) have launched a joint discussion paper on developing the framework for measuring value for money (VFM) in defined contribution (DC) pension schemes
Posted: 16/9/21
Almost two-thirds (63 per cent) of UK workers are thinking about leaving or are in the process of leaving their jobs, putting an estimated £113bn of pension savings at risk, according to PensionBee
Posted: 16/9/21
The average adult aged 20-40 wants to retire at 59 with an annual retirement income of £26,000 from all income sources, according to research from Moneybox
Posted: 15/9/21
The Pensions and Lifetime Savings Association (PLSA) has published guidance to help pension schemes and employers start a conversation with savers about their workplace pension
Posted: 15/9/21
Sophie Smith discusses the industry's efforts on Pension Awareness Day and the impact it is having on UK pension savers
Posted: 15/9/21
More than three-quarters (76 per cent) of defined contribution (DC) pension savers do not intend to use their tax-free cash for retirement income, according to Legal & General Investment Management (LGIM)
Posted: 15/9/21
The majority (84 per cent) of Brits do not believe dashboards will change the way they manage their pension, research from MyPensionExpert has found
Posted: 15/9/21
Workers over the age of 50 could have lost out on £5.3bn in collective retirement savings due to cuts in pension saving during the Covid-19 pandemic, according to research by Legal & General Retail Retirement (LGRR)
Posted: 15/9/21
The Oxfordshire Local Government Pension Fund has announced plans to exclude fossil fuel investments, with the full value of the fund’s passive equity investment, worth around £530m, to be moved into a newly launched Paris Aligned Benchmark Fund
Posted: 14/9/21
Pooling of local government pension scheme (LGPS) funds in the UK can drive further value in the future, according to research from NMG Group
Posted: 14/9/21
The government has again been urged to adopt a simplified approach to reducing the normal minimum pension age (NMPA) rather than a “hot mess of complexity”, to avoid inadvertently opening the door to would-be scammers
Posted: 14/9/21
The government’s temporary state pension triple lock adjustment could save it £5bn, after growth in average total pay increased to an “inflation busting” 8.3 per cent in the three months to July
Posted: 14/9/21
The aggregate surplus of UK defined benefit (DB) pension schemes increased by £20.8bn during August to reach £83.2bn, according to the Pension Protection Fund (PPF)
Posted: 14/9/21
The UK has fallen one place to rank 18 out of 44 nations in terms of retirement security, according to the Natixis Investment Management 2021 Global Retirement Index, while Iceland maintained its ranking as number one for the second consecutive year
Posted: 14/9/21
Morrisons' pension trustees have agreed a support package for the firm's schemes should Clayton Dubilier & Rice (CD&R) be successful in its proposed takeover of the supermarket
Posted: 14/9/21
Wholesale change is needed to grant defined contribution (DC) pension savers access to private market investments, according to the DC Investment Forum (DCIF)
Posted: 13/9/21
As many as 900,000 retirees will be at risk of annual flooding by 2050 and 175,500 will have inadequate or no insurance, according to analysis by PensionBee
Posted: 13/9/21
Nearly two-fifths (37 per cent) of people retiring this year are concerned they will not have enough money to fund their retirement, although 39 per cent of those planning to retire feel “very confident” that they are financially ready, according to research from Abrdn
Posted: 13/9/21
Make My Money Matter (MMMM) co-founder and film maker, Richard Curtis, has directed a new video series highlighting the role pensions can play in addressing climate change
Posted: 13/9/21
The number of workers delaying retirement as a result of the pandemic has increased by over a quarter in the past year, with 29 per cent of workers changing their retirement plans, compared to the 23 per cent in October 2020, research from Fidelity International has found
Posted: 13/9/21
The Pensions Dashboards Programme (PDP) must improve clarity on its plans for the method, accuracy and scope of producing estimated retirement income (ERI) for dashboards, according to the Society of Pension Professionals (SPP)
Posted: 13/9/21
A fifth (20 per cent) of non-retired workers in the UK say that they are not currently paying into a pension, according to research from the Pensions and Lifetime Savings Association (PLSA)
Posted: 13/9/21
More than £1trn held by UK institutional investors is exposed to significant climate risk, according to a report from LCP
Posted: 10/9/21
The Pensions Ombudsman (TPO) has upheld a complaint against Standard Life, after the firm incorrectly deducted fees from the complainant's Fundsnetwork self-invested personal pension (SIPP) before the benefits were transferred to a Fidelity SIPP
Posted: 10/9/21
The Department for Work and Pensions (DWP) will clear the state pension payment backlog by the end of October 2021, according to Pensions Minister, Guy Opperman
Posted: 10/9/21
Charities have been urged to engage with The Pensions Regulator (TPR) on its upcoming defined benefit (DB) funding code to address the “potential pitfalls” of the rules and avoid being “overwhelmed by pension costs”
Posted: 10/9/21
The latest news in brief and mandates from the past seven days
Posted: 10/9/21
The employment rate of people between 50 and 64 has fallen from 72.1 per cent to 71.2 per cent in 2021, according to the Department for Work and Pensions (DWP), igniting concerns over damage to retirement prospects
Posted: 9/9/21
The Public Service Pensions and Judicial Offices Bill has been committed to a Grand Committee after undergoing a second reading in the House of Lords (HoL), with the bill expected to receive Royal Assent in early 2022
Posted: 9/9/21
The Pensions Regulator’s (TPR) use of its auto-enrolment (AE) enforcement powers returned to pre-pandemic levels following the easements introduced to support employers through the early months of Covid-19.

The regulator’s latest Compliance and Enforcement Bulletin showed that the total use of its enforcement powers between January and June 2021 increased to 77,032
Posted: 9/9/21
Morrisons’ net defined benefit (DB) pension scheme accounting surplus increased by £181m to £897m in the first half of 2021, its interim results report has revealed
Posted: 9/9/21
The Pensions Ombudsman (TPO) has upheld a complaint against Cherry Tree Care Limited (CTC) after finding that it failed to pay contributions into a pension scheme
Posted: 9/9/21
The Pensions Management Institute (PMI) has announced the launch of its Diploma in Pension Trusteeship, an optional qualification for those who have already completed the association’s full professional trustee accreditation, APTitude
Posted: 9/9/21
UK pension market participants must work to understand and address the catalysts driving short–term retirement market change, according to a report from PwC
Posted: 8/9/21
The government has launched a consultation on draft regulations regarding The Pensions Regulator's (TPR) increased powers that extend the type of events that trustees and sponsoring employers are required to notify the regulator about
Posted: 8/9/21
Industry experts have labelled the government’s decision to suspend the triple lock as the "the right balance” amid the impact of the pandemic, although concerns have emerged around the need for long-term reforms and the potential precedent set
Posted: 8/9/21
Almost four in five (78 per cent) married people yet to retire, equivalent to just over 15 million individuals, have no idea about the value of their spouse’s pension savings, according to LV
Posted: 8/9/21
The recently announced 1.25 per cent rise in national insurance contributions (NIC), which will be used to fund social care costs and take effect from April 2022, could see changes to auto-enrolment (AE) “kicked into the long grass”, Aegon has warned
Posted: 8/9/21
Pension scheme trustees should challenge their investment consultants to ensure the environmental, social and governance (ESG) practices of their fund managers are aligned to their schemes' objectives, according to XPS Pensions Group
Posted: 8/9/21
The government has confirmed plans to remove the earnings link element from the state pension triple lock for 2022/23, after the impact of Covid-19 resulted in the measure becoming “skewed and distorted”
Posted: 7/9/21
Almost half (46 per cent) of retirees across the UK do not have enough money in emergency savings, according to research by Focaldata
Posted: 7/9/21
More than two-fifths (42 per cent) of savers who have tried to change pension providers found it so difficult that they would not attempt another transfer, according to PensionBee
Posted: 7/9/21
Wedlake Bell partner, Alison Hills, discusses the recent trustee statement on the potential Morrisons takeover and what it could mean for its pension schemes
Posted: 7/9/21
Time is running out to book your place for Pensions Age’s upcoming Autumn Conference on 16 September, featuring Pensions Minister, Guy Opperman, as a keynote speaker
Posted: 7/9/21
Public sector pension schemes have been encouraged to act “swiftly” in preparation for new measures outlined in The Pensions Regulator’s (TPR) consolidated Code of Practice
Posted: 7/9/21
UK defined benefit (DB) pension schemes' approaches to securing inflation-linked returns on assets could be exposing them to losses of around £200bn, according to research from PwC
Posted: 7/9/21
The majority (85 per cent) of UK pension scheme investors expect the schemes they work for to increase their allocations to illiquid assets over the next three years, with 7 per cent expecting a significant rise, research from Alpha Real Capital has found
Posted: 6/9/21
UK defined benefit (DB) pension schemes could take over a decade to reach full funding under new regulatory rules, despite scheme deficits against long-term funding targets falling by £40bn over the year to 31 August 2021, analysis from XPS Pensions has found
Posted: 6/9/21
The Financial Reporting Council (FRC) has published a list of successful signatories to the UK Stewardship Code, with a third of applicants missing out.

The code is designed to improve stewardship on behalf of UK savers and pensioners by setting a ‘high bar’ for investors to meet
Posted: 6/9/21
The world’s top 300 pension funds saw the value of their collective assets under management increase by 11.5 per cent to $21.7trn (£15.7trn) in 2020, according to Willis Towers Watson's Thinking Ahead Institute
Posted: 6/9/21
Over 325,000 people have taken advantage of rules to ‘protect’ themselves against cuts in the lifetime allowance (LTA) for pensions tax relief since its introduction in 2006, although recent applications have slowed, according to a freedom of information request obtained by LCP
Posted: 6/9/21
The Pensions Dashboards Programme (PDP) has appointed Capgemini to deliver its central technical architecture, ending the project’s first phase
Posted: 6/9/21
Celebrating excellence within the pensions industry for another year, the Pensions Age Awards 2022 is now open to entries for all UK pension schemes and provider firms serving pension schemes in the UK
Posted: 3/9/21
Industry experts have welcomed the intention behind recent government plans to encourage more savers to take financial advice or guidance, but concerns have emerged over the resources that will be required from both Pension Wise and administrators
Posted: 3/9/21
The latest news in brief and mandates from the past seven days
Posted: 3/9/21
The average funding levels for tranche 15 schemes with valuation dates between September 2019 and June 2020 were higher than for any previous tranche, although the impact of Covid-19 on schemes was "evident", research from Aon has found
Posted: 3/9/21
The government’s most recent workplace pension saving statistics have shown the “huge progress” auto-enrolment (AE) policy has brought, while also highlighting that inequalities in the UK pension system remain, according to industry experts
Posted: 3/9/21
The trustee of the Fujitsu General (UK) Co. Limited Pension and Life Assurance Plan has agreed a full buy-in transaction with Aviva
Posted: 3/9/21
More than three-quarters (78 per cent) of pension professionals are not confident that the pensions dashboards will be completed on target in two years' time, according to research from the Pensions Management Institute (PMI)
Posted: 2/9/21
Almost a fifth (17 per cent) of UK adults are prioritising spending every penny of their retirement savings without running out, according to Canada Life
Posted: 2/9/21
Phoenix Group has purchased a portfolio of equity release mortgages with a value of around £300m from Just Retirement Limited
Posted: 2/9/21
The number of eligible employees participating in a workplace pension remained stable year-on-year in 2020 at 88 per cent, equal to around 19.4 million savers, the latest government figures have shown
Posted: 2/9/21
The aggregate funding position of the UK’s defined benefit (DB) pension schemes remained “relatively stable” over August, with PwC’s Pension Funding Index recording an aggregate surplus of £20bn
Posted: 2/9/21
The accounting deficit of FTSE 350 defined benefit (DB) pension schemes rose by £2bn over the course of August, standing at £87bn at the end of the month, according to Mercer
Posted: 2/9/21
The Financial Conduct Authority (FCA) will conduct a review before the end of the year regarding its guidance for how firms calculate redress for unsuitable defined benefit (DB) pension transfers
Posted: 1/9/21
Half (50 per cent) of UK over-50s who planned to retire abroad are reconsidering due to Brexit concerns, up from 46 per cent in 2020, according to research from Canada Life
Posted: 1/9/21
The Universities Superannuation Scheme (USS) Joint Negotiating Committee (JNC) has agreed to consult on Universities UK’s (UUK) proposed changes to the scheme with affected members, prompting threats of strike action from University and College Union (UCU)
Posted: 1/9/21
Nearly one fifth (17.3 per cent) of furloughed workers in the UK have increased their pension contributions since the onset of the Covid-19 pandemic, according to GlobalData’s 2021 UK Life & Pensions Survey
Posted: 1/9/21
The Pension Protection Fund (PPF) has confirmed that pension schemes and employers can continue to apply for a 90-day extension for the payment of their 2021/22 levy bill
Posted: 1/9/21
Pay is the most voted-on issue among the shareholder resolutions put to scheme members via Legal & General Investment Management’s (LGIM) partnership with Tumelo, while climate held a “strong second place” despite featuring in fewer resolutions
Posted: 1/9/21
Britax Childcare Group has completed a buy-in involving three of its defined benefit (DB) pension schemes with Just Group
Posted: 31/8/21
Collective defined contribution (CDC) scheme regulations require key changes if they are to be a success, according to the Association of Consulting Actuaries (ACA)
Posted: 31/8/21
The proportion of over-50s in work is set to reach a record high of 47 per cent by 2030, according to Legal & General (L&G) Retail Retirement and the Centre for Economics and Business Research (CEBR), with a similar trend expected for those working past state pension age
Posted: 31/8/21
The average retired pensioner couple spends income equivalent to two annual state pensions by 31 August, leaving them with a four-month shortfall, according to Just Group
Posted: 31/8/21
Industry experts have welcomed The Pensions Regulator’s (TPR) guidance on governance and reporting of climate-related risks and opportunities, although concerns have been raised over the need for further clarification in some key areas
Posted: 31/8/21
The pace of recovery in dividends could be slowed as a result of increased powers for The Pensions Regulator (TPR), which are due to come into force from 1 October 2021, with analysis from LCP suggesting that the 'dividend bubble' could burst "in weeks"
Posted: 31/8/21
Association of Consulting Actuaries (ACA) chair, Patrick Bloomfield, discusses the organisation's views on HMRC's consultation on the tax advice market, published earlier this year
Posted: 27/8/21
The latest news in brief and mandates from the past seven days
Posted: 27/8/21
Pension schemes have been urged to use the extra time created by the delay to The Pensions Regulator’s (TPR) consolidated Code of Practice to prepare for any changes that it may bring
Posted: 27/8/21

How the bulk annuity market is changing
Laura Blows speaks to Peter Jennings and Prash Mehta from Just about trends in the bulk annuity market and how this could impact trustees hoping to secure insurer engagement in 2022 and beyond
DC master trusts
Pensions Age editor Laura Blows, editor of Pensions Age look at developments within the DC master trust market with Paul Leandro, partner at Barnett Waddingham, and Mark Futcher, partner and head of DC at Barnett Waddingham.

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