Archive News
PMI president Lesley Carline discusses the latest delay to the Pensions Bill and what impact it may have on the industry
Posted: 19/07/19
The Pensions Regulator (TPR) is planning to consolidate its 15 current codes of practice to form a single, shorter code
Posted: 19/07/19
Almost three-quarters (74 per cent) of businesses want auto-enrolment (AE) to be extended to include the self-employed and those earning less than £10,000, a study has shown
Posted: 19/07/19
The Pensions Regulator’s (TPR) latest annual report has highlighted its increase in regulatory activity following its change to a ‘quicker, clearer, tougher’ approach.
Its 2018/19 Annual Report and Accounts showed that the regulators use of frontline powers increased by 32 per cent in the past year, while the number of cases increased by nearly a quarter (24 per cent)
Its 2018/19 Annual Report and Accounts showed that the regulators use of frontline powers increased by 32 per cent in the past year, while the number of cases increased by nearly a quarter (24 per cent)
Posted: 19/07/19
Around 90 per cent of cases heard by The Pensions Ombudsman are concluded without the
intervention of the pensions ombudsman, Anthony Arter, himself taking part
intervention of the pensions ombudsman, Anthony Arter, himself taking part
Posted: 19/07/19
The latest mandates and news in brief from the past seven days
Posted: 19/07/19
Hargreaves Lansdown is the pension provider with the slowest defined contribution provider transfer times, averaging 30.5 days, according to research from Origo
Posted: 18/07/19
Seventy-five per cent of trustees believe that more investment is needed to improve member data, according to XPS Pensions Group.
Posted: 18/07/19
Boris Johnson’s commitment to doing "everything” he can to resolve the women’s state pension issue has been questioned by Work and Pensions Secretary, Amber Rudd
Posted: 18/07/19
The Pensions Regulator’s (TPR) proposal to have a professional trustee on every board is currently “unworkable”, according to XPS Pensions principal Danny Vassiliades.
Vassiliades explained that pension schemes may find it difficult to find new trustees once this generation of trustees retire
Vassiliades explained that pension schemes may find it difficult to find new trustees once this generation of trustees retire
Posted: 18/07/19
A widow has won the right to her deceased partner’s military pension following a landmark pension ruling in the Court of Appeal
Posted: 18/07/19
HMRC does not know how many people they are fining each year over breaches to pension tax relief regulations, Royal London has revealed
Posted: 18/07/19
Campaigners are calling on the Greater Manchester Pension Fund to divest from fossil fuels as they claim the fund is “out of touch” with public mood
Posted: 17/07/19
The number of self-employed workers in the UK has increased by 17 per cent to 5 million since the introduction of auto-enrolment (AE), according to the Office for National Statistics (ONS), leading to further calls for the government to amend AE legislation
Posted: 17/07/19
More than half (52 per cent) of people reach state pension age (SPA) with at least one physical limitation, the Pensions Policy Institute (PPI) has revealed
Posted: 17/07/19
Defined contribution master trusts are the most suitable DC schemes for nearly 60 per cent of UK employers, research from Buck has suggested
Posted: 17/07/19
The Pensions Regulator has announced it has launched investigations into ‘shape-shifting’ employers that try to evade their pension duties by changing their identity
Posted: 17/07/19
The Consumer Prices Index rate of inflation remained at the Bank of England’s 2 per cent target in the 12 months to June 2019, the Office for National Statistics has revealed
Posted: 17/07/19
The Pensions Regulator (TPR) has launched an online tool to make it easier for employers to re-enrol their staff into workplace pension schemes
Posted: 17/07/19
Support for trustees from investment consultants is “generally poor” when it comes to the topic of environmental, social and governance (ESG) issues, according to Dalriada Trustees senior trustee representative Vassos Vassou
Posted: 16/07/19
The Guaranteed Minimum Pension Equalisation Working Group (GMPEWG) has published guidelines for scheme managers, trustees and sponsors on how to traverse equalising benefits, urging schemes to take action
Posted: 16/07/19
The government has confirmed that the Court of Appeal ruling that changes it made to judges and firefighter’s pensions were discriminatory on the grounds of age, applies to all public sector pension schemes
Posted: 16/07/19
Arcadia Group has received applications from legal entities of US property firm Vornado, challenging two of its seven planned company voluntary arrangements (CVA)
Posted: 16/07/19
The average FTSE 250 employer contribution rate into defined contribution pension schemes has risen by 40 per cent year-on-year, from 4.3 per cent to 6.1 per cent
Posted: 16/07/19
Jack Gray argues that the industry needs to be more realistic in its estimates of how much young people can save into their pensions
Posted: 16/07/19
Society of Pension Professionals president Paul McGlone expresses his concerns about having a professional trustee on every board
Posted: 15/07/19
The Financial Conduct Authority’s (FCA) proposed changes to the role Independent Governance Committees (IGC) have in investment advice could cross the line into ‘executive’ responsibilities, Aegon has warned
Posted: 15/07/19
Several asset managers have been criticised for investing in companies that have provided surveillance tools to China, exposing pension savers and other investors to investments that “contribute” to “violations of human rights”
Posted: 15/07/19
Scottish Widows has announced its support of a proposal which would see young people being able to use some of their pension savings towards a deposit for their first home
Posted: 15/07/19
South East Water’s defined benefit pension scheme surplus increased to £25.5m, as of 31 March 2019, its annual financial report has revealed
Posted: 15/07/19
The Financial Conduct Authority’s acknowledgement of the limitations of its data on defined benefit pension transfers has been welcomed by the Personal Finance Society
Posted: 15/07/19
Jack Gray questions whether educating savers is the right path to take, or if building trust to delegate responsibilities is a better way forward
Posted: 12/07/19
The deadline to enter the Irish Pensions Awards is drawing close, but there is still time to enter your pension scheme or firm into these prestigious awards which are now in their eighth successful year
Posted: 12/07/19
The Pensions Regulator (TPR) has defended how it dealt with whistleblower concerns over the way the Universities Superannuation Scheme's (USS) retirement rates were calculated
Posted: 12/07/19
Pensions Insurance Corporation (PIC) has roughly £40bn of pensions liabilities waiting to transact, it has revealed
Posted: 12/07/19
Collective defined contribution (CDC) pension schemes are “the most intergenerationally fair” type of pension if buffers are not used, Royal mail has said
Posted: 12/07/19
Nest’s government loan liability increased by £91m year-on-year reaching £714m, up from £623m in March 2018, it has revealed
Posted: 11/07/19
Falling life expectancy has resulted in a 1-2 per cent reduction in liabilities for the FTSE 350, new analysis from Hymans Robertson has revealed
Posted: 11/07/19
Companies with defined benefit pensions are paying out nearly five times more in dividends than in DB scheme contributions, research from the University of Bath has shown
Posted: 11/07/19
The Financial Conduct Authority (FCA) has reduced its pension deficit by £32.3m, taking its total deficit to £83.7m, its annual report has revealed
Posted: 11/07/19
The Pensions Management Institute (PMI) has revealed several changes to its advisory council and presidential team, which were agreed at the AGM held yesterday, 10 July.
Posted: 11/07/19
Women could be over £100,000 worse off than men by the time they reach retirement as they seek to balance caring responsibilities by working part time, new research has found
Posted: 11/07/19
Companies’ failure to meet climate goals ‘undermines’ pension fund ability to manage financial risks
The highest-emitting companies’ failure to meet climate goals ‘undermines’ pension funds’ ability to manage financial risks, a member of the Church of England Pensions Board has said
Posted: 11/07/19
The number of savers who have sought guidance from Pension Wise in 2018/19 increased by more than 55,000 year-on-year, to 167,726
Posted: 10/07/19
BT has lost its most recent attempt to change the indexation arrangements of part of its pension scheme, after the Supreme Court denied it permission to escalate the case
Posted: 10/07/19
Defined benefit transfer values fell slightly over June 2019, according to XPS Transfer Watch
Posted: 10/07/19
The majority (62 per cent) of UK business have not reviewed their pensions strategy to prepare for the challenge of an ageing workforce, Capita has revealed
Posted: 10/07/19
The deficit of schemes eligible for the Pension Protection Fund (PPF) decreased by £18.2bn to £51.7bn over June, as total scheme assets increased by 1.6 per cent over the month
Posted: 10/07/19
The amount of people in the UK saving enough for a comfortable retirement has reached a record 59 per cent, research from Scottish Widows has revealed
Posted: 10/07/19
A transgender woman from Londonderry has settled a case against the Department for Communities to back date her state pension payments
Posted: 09/07/19
Labour Shadow Pension Minister, Jack Dromey, has said having a member-nominated trustee (MNT) on all pension boards is “of the highest importance”
Posted: 09/07/19
An insurance boss has been banned from company management for seven years following his firm’s misadministration of the Optimum Retirement Benefits Plan (ORBP)
Posted: 09/07/19
Boris Johnson has pledged to find a solution to the NHS pension crisis resulting in staff reducing their shifts, increasing waiting times by 50 per cent
Posted: 09/07/19
Chief Secretary to the Treasury Liz Truss has said that any changes to the pension taxation system will need to apply to all professions and not just NHS employees, as she branded Britain’s tax system “complex”
Posted: 09/07/19
Aon has assessed the benefits and shortcomings of transferring into defined benefit commercial consolidators, following the government consultation in December last year
Posted: 09/07/19
The Mercer Master Trust has been granted authorisation by The Pensions Regulator (TPR), becoming the 11th master trust to gain approval
Posted: 09/07/19
Association of British Insurers policy adviser, Matt Burrell, on how the right data can be used to engage members
Posted: 08/07/19
The Pensions Administration Standards Association (Pasa) launched its Defined Benefit Transfer Guidance today (8 July), developing a good practice framework for member protection
Posted: 08/07/19
Unite union members employed at Aberdeen Airport have voted to accept the latest pension offer from AGS Airports Limited, ending the dispute and any further strike action
Posted: 08/07/19
Waiting times for routine surgery on the NHS have increased by up to 50 per cent as senior doctors are refusing extra shifts due to tax issues facing the NHS pension scheme
Posted: 08/07/19
The Pensions Regulator (TPR) could pursue Arcadia owner Philip and Lady Green’s overseas assets if they fail to provide the pension contributions promised in the agreed company voluntary arrangement (CVA)
Posted: 08/07/19
The income gap between pensioner couples in the top and bottom income bands has widened over the past ten years, analysis from Aegon has revealed
Posted: 08/07/19
The Pensions Regulator (TPR) has said that it hopes to have completed its assessment of the two emerging superfunds “by the end of the year”
Posted: 05/07/19
Wedlake Bell LLP Solicitors pensions partner Clive Weber, considers why HMRC have withdrawn their appeal in 'Hymanson', the future for similar "mistake" cases and the status of HMRC's guidance on payments made in error
Posted: 05/07/19
The government has been accused of “dragging its heels” on rectifying gender inequality in the pensions system by Royal London director of policy, Steve Webb
Posted: 05/07/19
The government has asked for more time to plan and introduce defined benefit consolidation legislation as it feels there is a lot more to be done before it is ready.
Speaking at the AMNT Summer Conference, Department for Work and Pensions (DWP) private pensions DB policy lead, Des Healy, said that the DWP would need “a bit more time” as DB consolidation was “a really technical and difficult area”
Speaking at the AMNT Summer Conference, Department for Work and Pensions (DWP) private pensions DB policy lead, Des Healy, said that the DWP would need “a bit more time” as DB consolidation was “a really technical and difficult area”
Posted: 05/07/19
Nearly half (46 per cent) of people aged 55 and over do not feel prepared for retirement, research from Close Brothers has found
Posted: 04/07/19
The Pension Protection Fund (PPF) recorded investment returns of 5.2 per cent in the year to 31 March 2019, with assets under management growing from £30bn to £32bn
Posted: 04/07/19
The pension deficit for defined benefit schemes in the FTSE 350 decreased by £9bn over June to £48bn, Mercer has revealed
Posted: 04/07/19
The Pensions Regulator (TPR) chief executive, Charles Counsell, has referred the Work and Pensions Select Committee to the Arcadia pension scheme trustees for details of the company voluntary arrangement (CVA)
Posted: 04/07/19
Pension schemes across the UK could be facing as much as a £260bn accounting gap, a new survey from XPS Pensions Group has found
Posted: 04/07/19
Shadow Pensions Minister, Jack Dromey, has urged the government to accelerate the introduction of the long-awaited Pensions Bill
Posted: 04/07/19
Savers have been facing a more challenging investment market in a period where they have had to take more individual responsibility of their savings, Financial Conduct Authority (FCA) chief executive, Andrew Bailey, has warned
Posted: 03/07/19
The largest pension fund in the world has said that green bonds could be a “passing fad” unless the asset class undergoes fundamental changes
Posted: 03/07/19
The deficit of defined benefit pension schemes fell by £20bn in June to £220bn, according to PwC’s latest Skyval Index
Posted: 03/07/19
The government has published a roadmap aimed at reducing financial instability for women in later life, including pensions wealth
Posted: 03/07/19
British Medical Association (BMA) doctors are planning to sue the government as they feel they were forced to join a pension scheme which discriminated against their age.
The legal action has been planned in light of the government being refused leave to appeal by the Court of Appeal, which found that changes made to firefighters’ and judge’s pension schemes were discriminatory
The legal action has been planned in light of the government being refused leave to appeal by the Court of Appeal, which found that changes made to firefighters’ and judge’s pension schemes were discriminatory
Posted: 03/07/19
The Smiths Industries Pension Scheme has completed a £176m bulk annuity buy-in with Canada Life
Posted: 03/07/19
The Pensions Regulator (TPR) will be responsible for co-establishing an industry working group on climate change guidance for pension schemes, the government’s Green Financing Report has revealed
Posted: 02/07/19
The value of aggregate funding liabilities for UK defined benefit pension schemes has increased by £55bn over the past eight weeks, analysis from Buck has revealed
Posted: 02/07/19
Proposals to reduce the number of badly run schemes and improve the trustee model have been outlined by The Pensions Regulator (TPR) in a consultation today (2 July)
Posted: 02/07/19
The capacity of the insurance buyout market has come under question following reports that the British Steel Pension Scheme (BSPS) trustees are looking to buyout the £10.5bn scheme
Posted: 02/07/19
KPMG is considering the sale of its UK pensions advisory service after reports that it had drawn up secret plans to offload the business
Posted: 02/07/19
The Pensions Regulator (TPR) has authorised a further four DC master trusts, bringing the total number up to 10
Posted: 02/07/19
Aviva has launched a workplace pension default investment strategy incorporating ethical and environmental, social and governance (ESG) considerations
Posted: 01/07/19
The Money and Pension Service (Maps) should be given “greater scope” to be able to provide stronger financial guidance, the Pensions and Lifetime Savings Association (PLSA) has said
Posted: 01/07/19
Pensions freedoms are failing to meet the needs of consumers and could lead to a scandal in the next few years, a new paper by Age UK has said.
Fixing the Freedoms, commissioned by the charity and written by consumer consultant Dominic Lindley, said that a lack of product innovation and the slow take up of advice and guidance mean that many are making risky decisions they may “come to regret”
Fixing the Freedoms, commissioned by the charity and written by consumer consultant Dominic Lindley, said that a lack of product innovation and the slow take up of advice and guidance mean that many are making risky decisions they may “come to regret”
Posted: 01/07/19
University of Sussex vice-chancellor and president, and Employers Pensions Forum chair, Adam Tickell, gives his opinion on the best course of action for the USS in light of threatened strike action
Posted: 01/07/19
Over half (55 per cent) of FTSE 100 companies with a defined benefit pension scheme will be able to buyout within the next decade, research by Barnett Waddingham has found
Posted: 01/07/19
The proportion of UK defined benefit pension schemes that are cash flow negative has increased by seven per cent year-on-year to 73 per cent, Mercer has revealed
Posted: 01/07/19
Pensions consultancy firm XPS Pensions Group share price dropped by 65 pence per share yesterday (28 June) despite a recording a 75 per cent growth in total revenue
Posted: 28/06/19
PMI technical consultant, Tim Middleton, explores the governance changes that are likely to take effect over the next few months
Posted: 28/06/19
The latest news in brief and mandates from the past seven days
Posted: 28/06/19
The Department for Work and Pensions (DWP) has estimated that it will cost £2.5bn to uprate the state pension by 2.6 per cent in 2019/20
Posted: 28/06/19
The National Union of Rail, Maritime and Transport Workers (RMT Union) is preparing to ballot for a national rail strike after failing to receive government assurances over pensions
Posted: 28/06/19
Southwark Council has been ordered to pay a complainant seven and a half months worth of pension payments after her complaint was upheld by The Pensions Ombudsman (TPO).
Mrs I, who was diagnosed with advanced cancer in September 2015, did not have any income until February 2018 once her sick pay ended in October 2016, although her pension was backdated to June 2017
Mrs I, who was diagnosed with advanced cancer in September 2015, did not have any income until February 2018 once her sick pay ended in October 2016, although her pension was backdated to June 2017
Posted: 28/06/19
The government faces a £4bn bill after it lost permission to appeal a High Court ruling which found 2015 pension reforms discriminated on the grounds of age, race and equal pay.
In the landmark case, the government was today (27 June) denied leave to appeal the court decision of unlawful discrimination against a group of judges and firefighters,handed down in December 2018
In the landmark case, the government was today (27 June) denied leave to appeal the court decision of unlawful discrimination against a group of judges and firefighters,handed down in December 2018
Posted: 27/06/19
The Work and Pensions Select Committee (WPSC) has written to The Pensions Regulator (TPR), querying why it took the regulator so long to contact the Universities Superannuation Scheme (USS) over concerns raised by a whistleblower
Posted: 27/06/19
Pensions Age is delighted to have been named Pensions Publication of the Year 2019 at the 14th annual Willis Towers Watson Media Awards
Posted: 27/06/19
The Pensions Regulator (TPR) has published updated defined contribution investment guidance highlighting changes to the way trustees will present their statement of investment principles (SIP) in the future
Posted: 27/06/19
Just, in association with Pensions Age, is excited to announce the launch of its inaugural DB de-risking summit, designed to assist pension schemes, whatever their size or end-game, to effectively manage their DB de-risking journey
Posted: 27/06/19
Now Pensions CEO, Troy Clutterbuck, has resigned with immediate effect and been replaced by Patrick Luthi
Posted: 27/06/19
Any non-commercial pensions dashboards that are developed “must replicate” the government-backed public dashboard, The Pensions Regulator (TPR) chief executive, Charles Counsell, has said
Speaking to the Work and Pensions Select Committee today, Counsell stated that non-commercial dashboards must “present the same information” as the public version.
Speaking to the Work and Pensions Select Committee today, Counsell stated that non-commercial dashboards must “present the same information” as the public version.
Posted: 26/06/19
Communications and Content managing director, David Butcher, discusses how active managers can wrest more control over the active versus passive debate
Posted: 26/06/19
Roughly 9.5 million people who plan to work past retirement age fear their health will make it too difficult to do so, new research has found
Posted: 26/06/19
The government’s failure to act on pension credit has led to more than one million pensioner households living in poverty in Great Britain, according to Independent Age
Posted: 26/06/19
Around one fifth of ‘zombie firms’ have a defined benefit pension scheme which may leave trustees “with no way out”, according to KPMG
Posted: 26/06/19
The government has estimated that it will spend over £120bn on pension benefits in 2019/20, including £99bn of expenditure on the state pension
Posted: 26/06/19
The average salary for a pension board chair has increased by from £41,594 in 2016 to £47,004 in 2018, reflecting the growing “complexity and demands” of the role, research has found
Posted: 25/06/19
Three-quarters of advisers believe that the defined benefit advice market is not working as effectively as it could be, with the supply of advice not meeting customer demand
Posted: 25/06/19
A failed IT project run by the Scottish Public Pensions Agency (SPPA) has left the body with a £23m funding gap for the over the next five years, according to the spending watchdog
Posted: 25/06/19
Carpetright’s pension deficit has decreased by £200,000 year-on-year to £600,000 following last year’s company voluntary arrangement (CVA) approval by the Pension Protection Fund (PPF)
Posted: 25/06/19
Unison has said it will fight the government’s plans which would allow universities and colleges to opt new non-teaching staff out of the Local Government Pension Scheme (LGPS)
Posted: 25/06/19
The Pensions Regulator (TPR) “must increase its focus on savers” in light of rising membership through auto-enrolment and increased saver risk due to pensions freedoms, according TPR chief executive Charles Counsell.
In his first speech since becoming chief executive, Counsell said that he intends to “deliver the standards savers rightly expect and deliver robust protection for them"
In his first speech since becoming chief executive, Counsell said that he intends to “deliver the standards savers rightly expect and deliver robust protection for them"
Posted: 25/06/19
People aged between 60 to 69 will be the fastest growing sector of the workforce over the next 50 years as almost a quarter of people will be aged 65 and over by 2050
Posted: 24/06/19
The Rail, Maritime and Transport union (RMT) has warned that any cuts to its members’ pension benefits or an increase in employee contributions could result in nationwide strike action
Posted: 26/04/19
Nearly a quarter (23 per cent) of schemes with an effective valuation date for tranche 12 were in surplus on a technical funding basis, according to The Pensions Regulator (TPR)
Posted: 24/06/19
The Pensions Insurance Corporation (PIC) has insured £7bn on longevity risk in the first half of 2019 as the market signals increased capacity, it has revealed
Posted: 24/06/19
SPP legislation committee member Peter Scott discusses the repayment of the overseas transfer charge
Posted: 24/06/19
One third (34 per cent) of women do not have a pension plan, compared to just 17 per cent of men, research from Willis Owen has revealed
Posted: 24/06/19
The University and College Union (UCU) has censured Trinity College, Cambridge today, 21 June, and is threatening to boycott the college if it does not reconsider its withdrawal from the Universities Superannuation Scheme
Posted: 21/06/19
Local Government Pension Schemes (LGPS) will no longer be exempt from the Competition and Markets Authority’s (CMA) reform on the investment consultant and fiduciary management markets following “subtle changes” to the final order
Posted: 21/06/19
The latest news in brief and mandates from the past seven days...
Posted: 21/06/19
The winners of the twelfth annual European Pensions Awards were announced last night at the highly anticipated annual gala dinner at the prestigious London Marriott Hotel Grosvenor Square
Posted: 21/06/19
Liberal Democrat MP for Eastbourne, Stephen Lloyd, has written to Chancellor Philip Hammond urging him to fix the net pay pension tax anomaly
Posted: 21/06/19
PPI senior policy researcher Mark Baker discusses the impact of the Pension Credit changes on mixed-income couples
Posted: 21/06/19
The Court of Appeal has rejected ITV's appeal against the decision that The Pensions Regulator (TPR) was within its rights to use its anti-avoidance powers on ITV regarding the Box Clever pension scheme
Posted: 20/06/19
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has voted unanimously to maintain the bank rate at 0.75 per cent at today’s meeting
Posted: 20/06/19
A major London trust is finding it difficult to deal with a growing number of gastroenterology patients as senior consultants are unwilling to take on more hours due to the tax issues facing the NHS pension scheme
Posted: 20/06/19
Total membership of workplace pension schemes in the UK has increased by 4.5 million year-on-year to a record 45.6 million in 2018, according to the latest Office for National Statistics data
Posted: 20/06/19
MPs have accused Lloyds Banking Group of being “behind the curve” on the implementation of the Investment Associations (IA) guidelines on executive pensions
Posted: 20/06/19
Retail group Dixons Carphone's defined benefit pension scheme deficit has increased by £109m year-on-year to £579m, as of 27 April 2019
Posted: 20/06/19
There are around 70 per cent more women saving into workplace pension schemes than before the introduction of auto-enrolment (AE), Equiniti has revealed
Posted: 20/06/19
The number of people earning below the personal allowance threshold who contribute to a net pay or relief at source pension scheme steadily increased over three years, HMRC has revealed
Posted: 19/06/19
The government has been accused of sidelining detailed discussions around finding a solution to the NHS pensions crisis by launching a premature consultation on the issue
Posted: 19/06/19
Over half (52 per cent) of drawdown investors are unaware they can vary their income, according to research by Zurich
Posted: 19/06/19
The Financial Conduct Authority (FCA) has told “every active firm in the market” to expect to hear from the regulator in 2019 as “too much advice is not of an acceptable standard”
Posted: 19/06/19
The Consumer Prices Index (CPI) rate of inflation dropped to 2 per cent in May 2019, down from 2.1 per cent in April 2019, hitting the Bank of England’s target rate
Posted: 19/06/19
Universities UK (UUK) has been questioned over its response to an accusation from The Pensions Regulator (TPR) that the Universities Superannuation Scheme (USS) had incorrectly communicated the regulator’s position on discount rates
Posted: 18/06/19
The Pension Protection Fund has been talking to a number of high street brands about the options available for defined benefit pension schemes over the past 18 months
Posted: 18/06/19
Almost two thirds (63 per cent) of Scottish doctors in the NHS are facing large pensions tax bills, research by the British Medical Association (BMA) Scotland has revealed
Posted: 18/06/19
Pensions Minister Guy Opperman has praised the publication of a new guide from the Pensions and Lifetime Savings Association on environmental, social and governance (ESG) issues.
Posted: 18/06/19
The number of defined benefit schemes closing to future accrual has accelerated over the past four years following benefit reviews, according to research by Aon
Posted: 18/06/19
Three quarters (75 per cent) of UK defined benefit pension schemes are paying out higher benefit payments than they are receiving in contributions, Buck has revealed
Posted: 18/06/19
The “first steps” have been taken to drive the highest standards of safety within company tailings management, the Church of England Pensions Board has said, as 50 per cent of the mining sector has now disclosed new information following an investor call
Posted: 17/06/19
Roughly 1.75 million low earners in net pay pension schemes are missing out on up to £111m of pensions tax relief, research from Now Pensions has found
Posted: 17/06/19
A group of 88 investors, including the Environment Agency Pension Fund (EAPF), have urged 707 of some of the world’s largest companies to start disclosing their environmental information
Posted: 17/06/19
A lot of the governance issues faced by defined benefit schemes are “historic”, that have built-up and “are really hard to get out of”, according to The Pensions Regulator head of policy, Fiona Frobisher
Posted: 17/06/19
Universities Superannuation Scheme (USS) was reprimanded by The Pensions Regulator (TPR) after it distorted the view of the regulator in a document proposing higher contributions by employers and members
Posted: 17/06/19
Retirees who are not checking whether they qualify for pension credit risk losing out on more than just their free TV licence, analysis from Royal London has found
Posted: 17/06/19
Retirement savers in the UK are expected to outlive their savings by over a decade, according to new research from the World Economic Forum (WEF)
Posted: 14/06/19
ACA chair Jenny Condron discusses the impact of GMP equalisation and conversion on simplifying DB pensions and how adopting an industry-wide model could help
Posted: 14/06/19
Star Steering Group has committed to “galvanising” the industry on pension transfers after its inaugural meeting last Thursday (6 June)
Posted: 14/06/19
The latest news in brief and mandates from the past seven days
Posted: 14/06/19
Members of the union Unite employed at Aberdeen and Glasgow airports are planning further strike action over a pay and pension dispute
Posted: 14/06/19
The Pension Superfund has suggested that it would be interested in acquiring the Arcadia pension schemes following the retailer’s company voluntary arrangement (CVA) proposal approval
Posted: 13/06/19
Transfer values were recorded at £241,500 over May, close to the £251,000 peak recorded in March, XPS Pensions Group has revealed
Posted: 13/06/19
Employers will not be able to meet the demands from the University and College Union (UCU) of rejecting the three options presented by the Universities Superannuation Scheme (USS) trustee, according to Universities UK (UUK)
Posted: 13/06/19
Nest has said it will completely divest from the tobacco industry having concluded that it is a poor investment for is eight million members
Posted: 13/06/19
Arcadia had all seven of its company voluntary arrangements (CVA) approved by its creditors yesterday (12 June), saving its pension scheme from entering the Pension Protection Fund (PPF).
The creditors, including pension trustees, suppliers and landlords, had opposed plans initially voted on last week, before amendments agreed with The Pensions Regulator (TPR) and PPF were added to the proposal
The creditors, including pension trustees, suppliers and landlords, had opposed plans initially voted on last week, before amendments agreed with The Pensions Regulator (TPR) and PPF were added to the proposal
Posted: 13/06/19
Commercial consolidator Clara Pensions has said that it will look to take advantage of its position as a pension fund when determining its investment strategy, setting it apart from insurers
Posted: 12/06/19
The government is considering proposals to reform the current Mineworkers Pension Scheme (MPS) to protect members’ existing bonuses but will not be reviewing the current 50:50 split in surpluses.
In a parliamentary debate on Monday (10 June), Parliamentary Under-Secretary of State for State for Business, Energy and Industrial Strategy, Andrew Stephenson, said that he had written to the Treasury in “full support” of the trustees’ proposals which would see members pensions rise in line with the Retail Price Index (RPI)
In a parliamentary debate on Monday (10 June), Parliamentary Under-Secretary of State for State for Business, Energy and Industrial Strategy, Andrew Stephenson, said that he had written to the Treasury in “full support” of the trustees’ proposals which would see members pensions rise in line with the Retail Price Index (RPI)
Posted: 12/06/19
The amount of defined benefit pension schemes adopting cashflow driven investment (CDI) strategies could increase to 73 per cent, AXA Investment Managers (IM) has found
Posted: 12/06/19
The rising level of employment is being driven by older workers as state pension age changes, improved life expectancy and transitional retirement’s growing popularity take effect
Posted: 12/06/19
The Pensions Regulator (TPR) and the Pension Protection Fund (PPF) have approved amendments to Arcadia’s company voluntary arrangement (CVA) ahead of the creditor vote today (12 June)
Posted: 12/06/19
So far, the contenders have managed to avoid anything remotely pensions related, however, the likelihood of a shake up in the Department for Work and Pensions is now looking increasingly probable
Posted: 11/06/19
Business leaders in the UK have been invited by the Pensions and Lifetime Savings Association (PLSA) to meet with pension schemes to discuss their reporting of employment models and working practices
Posted: 11/06/19
Defined benefit pension trustees are divided on what the best way to manage schemes and tackle the challenges thrown up once they are fully funded, research from Aon has shown
Posted: 11/06/19
The Money and Pensions Service (Maps) chief executive officer, John Govett, has resigned eight months into his four-and-a-half-year term
Posted: 11/06/19
The Pensions Regulator (TPR) has announced that trustees will be under increased scrutiny to ensure that they are meeting their legal obligations and adequately governing default arrangements
Posted: 11/06/19
After dropping to a low of £6.4bn at the end of last month, the Pension Protection Fund has revealed the aggregate deficit of schemes in the PPF 7800 Index jumped up to £69.9bn at the end of May 2019.
The position is worse that a year ago when a deficit of £53.8bn was recorded at the end of May 2018
The position is worse that a year ago when a deficit of £53.8bn was recorded at the end of May 2018
Posted: 11/06/19
The number of pension transfers with reports of scam ‘red flags’ has increased by 21 percentage points over the past year, according to XPS Pensions Group
Posted: 11/06/19
Plans announced by Boris Johnson, who is standing to be leader of the Conservatives, to raise the higher rate income tax threshold from £50,000 to £80,000 would have a knock-on impact for pensions tax relief
Posted: 10/06/19
The Pensions Scams Industry Group (PSIG) has today (10 July) published an updated version of its guide to combating pensions scams
Posted: 10/06/19
The Competition and Market Authority (CMA) has published its final remedies into the investment consultant and fiduciary management markets, helping pension trustees to “make better decisions”
Posted: 10/06/19
Former chief executive of The Pensions Regulator (TPR), Lesley Titcomb, has been named as a Commander of the Most Excellent Order of the British Empire (CBE) in the Queen’s birthday honours list
Posted: 10/06/19
The Association of Consulting Actuaries is in favour of allowing younger pension savers the flexibility to access their pensions to use towards a deposit for a house, provided there are ‘sufficient safeguards’ it has said
Posted: 10/06/19
The household income of recently retired pensioners is on average 20 per cent higher than older pensioners, Aegon has found
Posted: 10/06/19
The British Medical Association (BMA) has said that the NHS is on the cusp of a “major workforce crisis” if the government fails to address the ongoing pensions crisis
Posted: 10/06/19
The University and College Union (UCU) has threatened further strike action if universities do not rule out benefit cuts or contribution increases for Universities Superannuation Scheme (USS) members
Posted: 10/06/19
Seventy-two per cent of defined contribution members believe that it is a good idea to include responsible or ethical investments in default funds, according to Invesco
Posted: 10/06/19
The Pensions Regulator is facing further questions with regards to the protections in place covering the Arcadia pension scheme, and in particular, its deficit
Posted: 07/06/19
All pension schemes should appoint a pensions manager to oversee their investment responsibilities, a leading chief investment officer (CIO) has suggested
Posted: 07/06/19
The latest news in brief and mandates from the past seven days
Posted: 07/06/19
The Pensions Regulator (TPR) said it has “signed off” on a draft consultation which will deliver trustee guidance on how they should run a competitive tender for fiduciary managers
Posted: 07/06/19
The government has estimated that it would cost a total of £181.4bn to reverse the state pension age (SPA) for women back to 60 between now and 2025/26
Posted: 07/06/19
Pension fraudsters are playing the long game when it comes to scamming members, The Pensions Ombudsman (TPO) has warned
Posted: 06/05/19
The Institute of Fiscal Studies (IFS) has said that the current pensions system loads “too much risk onto individuals”
Posted: 06/06/19
The trustee of the Commando 2012 Pension Scheme, Mr Garner, has been ordered to pay a scheme member £3,000, plus the losses he has incurred, and transfer his savings out of the scheme
Posted: 06/06/19
Arcadia owner Philip Green has “time to scramble” to agree a company voluntary arrangement (CVA), after it was announced that a meeting to rescue the pension scheme had been delayed
Posted: 06/06/19
Rolls-Royce has completed a record £4.6bn pension deal with Legal and General (L&G), the UK's largest buyout to date
Posted: 06/06/19
Allowing universities and colleges to opt new non-teaching staff out of the Local Government Pension Scheme (LGPS) is a “grievous attack” on its members, Unison has warned
Posted: 05/06/19
The number of master trusts to apply for authorisation has reached 39, The Pensions Regulator has revealed
Posted: 05/06/19
Eligible employees participating in a workplace pension increased to 87 per cent over 2018, a 3 per cent rise on the previous year, government stats have revealed
Posted: 05/06/19
Women born in the 1950s that have had increases to their state pension age are heading to the High Court today as a judicial review commences looking into whether they were told about the changes sufficiently
Posted: 05/06/19
Arcadia owner Philip Green has achieved the support of the Pension Protection Fund (PPF) for the latest pensions security package, ahead of the crucial vote today (5 June)
Posted: 05/06/19
The Department for Work and Pensions (DWP) has called for a “pragmatic” approach to dashboard delivery in order to get it up and running
Posted: 04/06/19
The Pensions Regulator (TPR) would welcome its own rule-making powers, particularly around encouraging “clear, digitised and complete” data for the dashboard, it has said
Posted: 04/06/19
Pension fund investment in the optimal default fund could have the same impact as doubling contributions, according to new research from the Tax Incentivised Savings Association (TISA)
Posted: 04/06/19
Pensions Minister Guy Opperman has admitted there has been a “significant problem”, as 3 per cent of online state pension forecasts were erroneous due to issues with HMRC data
Posted: 04/06/19
Indexes from both Mercer and PwC have revealed that the deficits of UK defined benefit pension schemes increased during May
Posted: 04/06/19
Coventry Building Society has transferred its £220m defined benefit pension scheme to TPT Retirement Solutions’ DB master trust
Posted: 04/06/19
The European Court is set to rule on whether insolvency compensation has to cover full defined benefit scheme benefits, and it could be swayed by Associate General Hogan's official opinion that full benefits should be paid
Posted: 03/05/19
First-time homebuyers should be allowed to access their pension savings to help them get on to the property ladder, Housing Minister, James Brokenshire has suggested
Posted: 03/06/19
The government will publish a consultation to deliver “new pension flexibility” for senior clinicians in the NHS at the end of June, it has confirmed.
Posted: 03/06/19
Her Majesty’s Revenue and Customs (HMRC) has withdrawn its appeal in a key court case regarding savers who breach their lifetime allowance (LA) fixed protection terms
Posted: 03/06/19
The government is being urged to give new mothers a £2,000 pension top-up to address the pension gender gap
Posted: 3/06/19
The financial risks of climate change are “too important to ignore” and the industry must play its part in tackling the issue, Pensions Minister Guy Opperman has said
Posted: 03/06/19
One third (34 per cent) of people who accessed their pension savings via drawdown for the first time during a six-month period in 2018 did so without taking any advice
Posted: 03/06/19
The Pensions Regulator (TPR) has demanded that Arcadia owner Philip Green provides a further £50m cash injection into the failing retail firm's pension scheme
Posted: 31/05/19
The British Medical Association (BMA) has written to the government rallying against a “50:50” approach as a possible solution to the NHS pensions crisis
Posted: 31/05/19
The latest news in brief and mandates from the past seven days
Posted: 31/05/19
The pensions of Stride Gaming employees have been safeguarded as part of a recommended cash offer from Rank Group for the online gambling firm
Posted: 31/05/19
The University and College Union (UCU) general secretary, Jo Grady, has urged the fellows of Trinity College, Cambridge, to rethink their decision to leave the Universities Superannuation Scheme (USS)
Posted: 31/05/19
Manufacturing and printing company, De La Rue, recorded a £80.5m non-cash gain to its pension scheme following a change in its indexation methodology
Posted: 30/05/19
Industrial engineering firm 600 Group has completed its £201m buyout with Pensions Insurance Corporation, it has announced
Posted: 30/05/19
A majority of fund managers are not taking into account “best practice” public voting policies on climate change, gender and ethnic diversity, research from the Association of Member Nominated Trustees (ANMT) has found
Posted: 30/05/19
The Daily Mail and General Trust (DMGT) defined benefit pension schemes’ surplus has decreased by £8m in six months to £236m, its latest financial report has revealed
Posted: 30/05/19
Transport firm First Group has said it is facilitating pension members' use of pension freedoms in order to improve its deteriorating funding level
Posted: 30/05/19
More than half of pensioners able to claim the state pension under the new flat rate system are not receiving maximum benefits, a freedom of information request from Canada Life has revealed
Posted: 30/05/19
The ex-chief of a charity for the disabled has pleaded not guilty to defrauding the charity’s pension scheme of £250,000
Posted: 29/05/19
Workers at Aberdeen and Glasgow airports will strike on 7 and 10 June following a dispute with AGS over the closure of the defined benefit pension scheme
Posted: 29/05/19
Arcadia owner Philip Green has offered to provide an additional £185m into the company pension fund to help reduce the scheme’s deficit and attempt to win approval for a company voluntary arrangement (CVA)
Posted: 29/05/19
Outsourcing firm G4S has said it will review its renumeration policy over the next year but refused to answer questions from MPs regarding its executive pensions policy
Posted: 29/05/19
Over 23 million UK workers are expected to need to work beyond the age of 65 due to cost of living increases and poor financial returns, research from Canada Life has revealed
Posted: 29/05/19
Women expect to have nearly £100,000 less in pension savings than men when they reach retirement age, according to research from Brewin Dolphin
Posted: 28/05/19
Over 250 University of Cambridge employees have signed an open letter in opposition to Trinity College’s decision to remove itself from the Universities Superannuation Scheme (USS)
Posted: 28/05/19
The number of employers providing their employees with information on their pensions has increased significantly over the past three years, according to the Department for Work and Pensions (DWP)
Posted: 28/05/19
Manufacturing company Renold has seen its net retirement deficit increase by £4.5m to £101.9m, its end-of-year results have revealed
Posted: 28/05/19
The trustees of the Dunnes Stores defined contribution pension scheme have been replaced by The Pensions Regulator (TPR) to protect savers
Posted: 28/05/19
Arcadia owner Philip Green has been urged to make personal contributions to the pension scheme to counter the “worryingly high” deficit, before regulator or parliament step in
Posted: 24/05/19
Stagecoach and its partners SNCF and Virgin have commenced legal action against the Department for Transport (DfT) over its decision to disqualify its bid attempt for the West Coast Partnership franchise
Posted: 24/05/19
Senior reporter Theo Andrew argues that the industry must unite over transfers
Posted: 24/05/19
Today marks equal pension day; deputy editor Natalie Tuck looks at the reasons why the day has come so late, and what can be done about it
Posted: 24/05/19
The Money and Pensions Service (Maps) has a total of £8.2m in funding for the implementation for the non-commercial pensions dashboard, Pensions Minister Guy Opperman has revealed
Posted: 24/05/19
Plumbing Pensions will close its scheme to future benefit accrual from 30 June 2019, as a “responsible and practical” way to protect members’ future benefits
Posted: 24/05/19
United Utilities Group has recorded a £484m surplus following its switch to a hybrid scheme, its full-year results have revealed
Posted: 23/05/19
A proposed shareholder cash injection of £100m into the Arcadia pension scheme as part of its company voluntary agreement (CVA) would be insufficient to protect its members, The Pensions Regulator (TPR) has warned
Posted: 23/05/19
The number of pension attachment orders made by family courts since 2011 has doubled, despite the number of divorce petitions lodged decreasing, figures obtained by Nockolds have found
Posted: 23/05/19
Pension professionals had a change of heart on whether the industry had learnt its lessons 10 years on from credit crisis, following a debate with industry figures
Posted: 23/05/19
The chief executive of Lloyds Banking Group has been summoned by the Work and Pensions Select Committee to discuss the bank’s approach to executive pensions
Posted: 23/05/19
Pension funds should be wary of governments and too much focus on environmental, social and governance (ESG) investments, Freemasons Pension Scheme chair David Bennett-Rees has said
Posted: 23/05/19
Quietroom has issued advice to trustees on how to communicate the implications of Guaranteed Minimum Pension (GMP) equalisation to their members effectively and rebuild trust
Posted: 23/05/19
Marks and Spencer (M&S) has agreed to two further buy-ins, with Pension Insurance Corporation and Phoenix Life, insuring around £1.4bn of liabilities
Posted: 23/05/19
Pension scheme trustees often underestimate the risk of their sponsor becoming insolvent when determining their long-term funding plan, it has been suggested
Posted: 22/05/19
More than a third of MPs have backed a campaign for their parliamentary pension scheme to not include investments in non-renewable energy ahead of a parliamentary debate on the subject later today (22 May)
Posted: 22/05/19
The Consumer Prices Index (CPI) rate of inflation increased to 2.1 per cent in April 2019, up from 1.9 per cent in the 12 months to March 2019, the Office for National Statistics has revealed
Posted: 22/05/19
The Royal Mail DB pension schemes posted an annual surplus of £59m as of March 2019 as the firm continues to lobby the government for collective defined contribution (CDC) legislation
Posted: 22/05/19
Marks and Spencer’s defined benefit pension scheme remained in surplus over the year dropping by £33.9m to £914.3m at 30 March 2019 on an IAS 19 basis
Posted: 22/05/19
Chancellor Philip Hammond has ruled out scrapping the tapered annual allowance (AA) in order to solve the NHS pension crisis, despite acknowledging its impact on doctor retention, he said today (21 May)
Posted: 21/05/19
The Pensions Regulator (TPR) is investigating claims from a trustee that her efforts to find out whether the deficit of the Universities Superannuation Scheme (USS) was exaggerated were blocked
Posted: 21/05/19
Severn Trent recorded a £452.9m deficit for its three defined benefit schemes as at 31 March 2019, its end of year results have revealed
Posted: 21/05/19
New templates aimed at delivering cost transparency across the pensions industry have been launched today, 21 May, by the Cost Transparency Initiative (CTI)
Posted: 21/05/19
Upcoming changes to accounting standards rules could leave FTSE 100 pension schemes up to £100bn worse off, twice as much as previously predicted
Posted: 21/05/19
The Financial Conduct Authority (FCA) is currently investigating 30 individuals and firms for poor transfer advice, it has been revealed.
Responding to a letter from MP for Blaenau Nick Smith, Economic Secretary to the Treasury John Glen said that the regulator is currently investigating the firms for bad advice and scams, adding that the FCA has taken action against 15 business and individuals for “pensions misconduct” over the past five years
Responding to a letter from MP for Blaenau Nick Smith, Economic Secretary to the Treasury John Glen said that the regulator is currently investigating the firms for bad advice and scams, adding that the FCA has taken action against 15 business and individuals for “pensions misconduct” over the past five years
Posted: 20/05/19
Retirees living in Europe have seen the purchasing power of their pension decrease by 14 per cent over in the three years since Brexit, due to volatility in the currency market
Posted: 20/05/19
Engineering services company Tetra Tech has reached an agreement on a recommended cash offer with management consultancy firm WYG for its acquisition
Posted: 20/05/19
The Midlands is home to six of the 10 areas with the lowest annual pension incomes in the UK, research by Salisbury House Wealth (SHW) has revealed
Posted: 20/05/19
Hundreds of thousands of grandparents could be missing out on state pension credits for looking after their grandchildren while the parents are working, Royal London has found
Posted: 20/05/19
Trowers and Hamlins partner Martin McFall dicusses the intricacies of the groundbreaking case Burgess and others v Bic
Posted: 17/05/19
HMRC has announced that it is delaying its deadline for providing potentially vital data that would allow schemes to pay out the guaranteed minimum pension (GMP) benefits its members are entitled to
Posted: 17/05/19
The Financial Ombudsman Service (FOS) saw a 24 per cent increase in pensions and investments complaints over 2018/19 as pension freedoms continue to have an effect, its annual review has revealed
Posted: 17/05/19
The industry must do more to educate savers on the benefits of pension engagement while simplifying and invigorating its language, according to former Pensions Minister Ros Altmann
Posted: 17/05/19
The latest news in brief and mandates from the past seven days
Posted: 17/05/19
The Pensions Regulator has secured an additional £7.6m of levy funding from the Department for Work and Pensions for the 2019/2020 tax year, it has revealed
Posted: 16/05/19
The Pensions Regulator (TPR) is seeking to improve accountability, protection and confidence of occupational schemes with its new three-year strategy, it has revealed
Posted: 16/05/19
Unite the union is threatening strike action over why some pension contributions are missing from XPO Logistics UK employees’ pensions pots
Posted: 16/05/19
The Pensions Regulator used its automatic enrolment powers 15 per cent more in the first quarter of 2019 than the previous quarter, it has revealed
Posted: 16/05/19
The Pensions Regulator (TPR) should be given their own rule making powers for specific circumstances, akin to powers already held by the Financial Conduct Authority (FCA), it has been suggested
Posted: 16/05/19
National Grid’s net pension deficit has fallen by £45m over the year to 31 March 2019, from £263m to £218m under an IAS19 basis
Posted: 16/05/19
Retailer John Lewis Partnership has announced it is closing the defined benefit section of its pension scheme
Posted: 16/05/19
The Work and Pensions Committee has repeated its calls for a ban on contingent charging, following an inquiry launched to aid the Financial Conduct Authority’s (FCA) decision on the practice
Posted: 16/05/19
Lloyds Banking Group has defended its policy regarding executive pension pay after it said it had cut its chief executive António Horta-Osório’s contribution rate from 46 per cent to 33 per cent
Posted: 15/05/19
There are four types of pension savers that members fit, which affect the way they engage with saving, new research by an academic working with the Pensions Policy Institute has found
Posted: 15/05/19
The Pensions Regulator (TPR) is targeting “law-breaking” employers with new compliance checks up and down the country
Posted: 15/05/19
The Department for Education (DfE) has launched a consultation on proposals to provide civil partners and same-sex spouses with the same survivor rights as widows
Posted: 15/05/19
There has been a ‘steady decline’ in transfer activity since mid-2018, according to XPS Pensions Group
Posted: 15/05/19
The Compass Group recorded a £281m surplus for its UK group pension plan according to its interim results, a £65m decrease on its year end 2018 figures, it has revealed
Posted: 15/05/19
The number of people receiving extra state pension income as a result of deferral has decreased, new figures from the Department for Work and Pensions have revealed
Posted: 15/05/19
Fifteen per cent of Local Government Pension Scheme (LGPS) funds were not submitting all of their annual benefit statements (ABS) with all of the information required by law, The Pensions Regulator (TPR) has revealed
Posted: 15/05/19
The Local Government Pension Scheme Advisory Board (SAB) has released guidance for local authority pension schemes on how to deal with the impact that the age discrimination court case regarding firefighters' and judges' pensions may have
Posted: 15/05/19
Pension trustees have warned that scheme members are not prepared for the risks they may face in retirement, according to new research
Posted: 14/05/19
Life expectancy assumptions have fallen for the fourth year running, according to KPMG
Posted: 14/05/19
The total membership of the Local Government Pension Scheme (LGPS) increased by 3.4 per cent year-on-year to 5.8 million, according to its latest annual report
Posted: 14/05/19
The Pensions Regulator has outlined its supervisory approach towards authorised master trust following the full closure of its application period
Posted: 14/05/19
Defined benefit pension schemes have benefited from a strong performance of growth assets, but the gains were partly offset from falling bond yields, according to Legal and General Investment Management (LGIM)
Posted: 14/05/19
Members of the climate change awareness group, Extinction Rebellion, gatecrashed the speech of Minister for Local Government, Rishi Sunak, at the Pensions and Lifetime Savings Association's (PLSA) Local Authority Conference
Posted: 14/05/19
The number of public sector retirees receiving pensions over £100,000 a year has jumped by 320 per cent over seven years, increasing intergenerational unfairness, a leading charity has warned
Posted: 14/05/19
The PPF 7800 deficit fell to £6.4bn over the month of April, down from £43.9bn at the end of March, according to the Pension Protection Fund
Posted: 14/05/19
The pace of climate change policy responses from corporates and the government is key to the impact that climate change will have on Local Government Pension Scheme (LGPS) funding, according to Hymans Robertson
Posted: 14/05/19
Defined benefit schemes are offering more support and flexibility to members, according to Aon’s 2019 Member Options Survey
Posted: 13/05/19
The pensions gender gap is being widened by the cost of childcare as women pay the ‘motherhood penalty’ when having children, The Peoples Pension (TPP) has found
Posted: 13/05/19
The old saying ‘money can’t buy you happiness’ is now more often than not extended to include ‘but a lack of money can cause misery’
Posted: 13/05/19
Now Pensions has submitted its application for master trust authorisation to The Pensions Regulator six weeks after the initial deadline closed, it has revealed
Posted: 13/05/19
The Pensions Regulator (TPR) has said it will launch two consultations over the next year to give a clearer idea on how defined benefit pensions should be funded
Posted: 13/05/19
Pensions Age is thrilled to have been shortlisted in the Pensions Publication of the Year category at the Willis Towers Watson Media Awards 2019
Posted: 13/05/19
Pension Protection Fund CEO, Oliver Morley, discusses the lifeboat's vision for the future and how it plans to deliver a brilliant service to members through innovative and sustainable measures
Posted: 10/05/19
Universities Superannuation Scheme (USS) has put forward three options in the hope of finalising the 2018 valuation, having considered the proposals of Universities UK (UUK) and its members
Posted: 10/05/19
The Association of Consulting Actuaries (ACA) has proposed an industry-wide ‘model scheme’ to act as a guideline for schemes to simplify their pension benefits
Posted: 10/05/19
Stagecoach has decided to take legal action against the government for the Department for Transport’s (DfT) decision to disqualify its bid attempt for the East Midlands Railway franchise
Posted: 10/05/19
Debenhams is set to leave the Pension Protection Fund (PPF) assessment period following the approval of the company voluntary agreement (CVA) by its creditors
Posted: 10/05/19
The Financial Conduct Authority (FCA) has requested that over £1m in fines be handed to the five directors of firms involved in recommending unsuitable transfer advice
Posted: 09/05/19
Work and Pensions Select Committee chair, Frank Field, has expressed his concern for plumbing employers as the scheme’s trustee considers closing it to future accrual
Posted: 09/05/19
Education corporations, sixth form colleges and higher education institutions may no longer be required to offer non-teaching staff access to the Local Government Pension Scheme (LGPS)
Posted: 09/05/19
Retaining pension benefits for the families of police officers killed on duty would increase the schemes’ liabilities by approximately £144m, the government has estimated
Posted: 09/05/19
Global paint manufacturer AkzoNobel contributed £550m (€639m) in cash payments to its UK defined benefit pension schemes following its triennial review, it has revealed
Posted: 09/05/19
The government has reiterated that train operators are responsible for paying employer contributions in the Railways Pension Scheme after concerns were expressed over safeguarding members’ pensions
Posted: 09/05/19
Work and Pensions Select Committee chair, Frank Field, has branded the current situation regarding rail franchising a “wretched mess, for pension scheme members and commuters alike”
Posted: 08/05/19
The Pensions Regulator (TPR) has fined Link Pension Trustees Limited £103,750 for breaching multiple aspects of pension law.
Link Pension Trustees’ fine, which was the largest ever handed to trustees by TPR, was in relation to its failing on the McDonald's Franchisee Pension Scheme
Link Pension Trustees’ fine, which was the largest ever handed to trustees by TPR, was in relation to its failing on the McDonald's Franchisee Pension Scheme
Posted: 08/05/19
ITV has seen its defined benefit pension schemes drop into a £133m deficit on an IAS accounting basis, having recorded a £86m surplus in its 2018 interim results
Posted: 08/05/19
ExxonMobil shareholders, the Church Commissioners for England and the New York State Common Retirement Fund, have called for the company to separate its board chair and executive positions
Posted: 08/05/19
Every pension scheme should consider offering partial transfers so members are not forced to make an “all-or-nothing decision” on their pension benefits, XPS Group has said
Posted: 08/05/19
The government should scrap the tapered annual allowance for tax relief on NHS pension schemes, even if it means reducing the overall annual allowance, according to Royal London
Posted: 08/05/19
Society of Pensions Professionals council member Gregg McClymont, explores the benefits of consolidation on the DC pensions market
Posted: 07/05/19
Retirement planning specialist Intelligent Pensions has been ordered to pay £33,422.65 in compensation after it “failed to act in a timely manner” while conducting a defined benefit to defined contribution transfer
Posted: 07/05/19
The Secretary of State for Transport, Chris Grayling, has been accused of misleading parliament over banning Stagecoach from bidding for rail franchises as it would not take on the pension risk of the Railways Pension Scheme (RPS)
Posted: 07/05/19
Fewer that one in 10 NHS staff receiving tax penalties on their pension savings are utilising the ‘scheme pays’ option which means their employer meets the cost, Quilter has revealed
Posted: 07/05/19
Labour plans for nationalising the UK water industry could result in pension savers losing “thousands of pounds”, according to Water UK chief executive, Michael Roberts
Posted: 07/05/19
ABI policy adviser, long-term savings, Reuben Overmark analyses how defined contribution consolidation will improve efficiency within the industry
Posted: 03/05/19
The Treasury and the Department of Health and Social Care are “currently in discussions” on pension issues surrounding the National Health Service (NHS)
Posted: 03/05/19
The latest mandates and news in brief from the past seven days
Posted: 03/05/19
Government ministers have estimated that £33m was saved from “falling into the wrong hands” through the joint-regulator campaign against pension scams, Action Fraud
Posted: 03/05/19
Salvus has become the latest DC master trust to submit its authorisation application to The Pensions Regulator (TPR)
Posted: 03/05/19
The chairs of two government select committees have written to Lloyds Banking Group seeking an explanation for the pension contribution rates of its executives
Posted: 03/05/19
The Financial Conduct Authority has launched a discussion paper on the differences between intergenerational finances, which explores the changing financial needs of consumers from different age groups
Posted: 02/05/19
The union Prospect has hit out at BT for its decision to appeal a High Court ruling which could result in 8,000 pension scheme members losing up to £120m in benefits
Posted: 02/05/19
Stagecoach Group has defended its decision not to accept the pensions risk of the Railways Pension Scheme after it was excluded from three rail franchise bids by the Department for Transport (DfT)
Posted: 02/05/19
The number of defined benefit pension schemes closed to future accrual continues to grow as trustees and companies’ focuses turn to endgame, Barnett Waddingham has said
Posted: 02/05/19
The British Medical Association (BMA) has said it is “encouraged” by the Chancellors’ comments on NHS pensions but reiterated that “urgent action” must be taken to solve the issue
Posted: 02/05/19
The government has been accused of “sneaking out” changes in the way income tax on pensions is measured that could lead to pensioners paying an extra £4bn a year, according to Royal London
Posted: 02/05/19
The accounting deficit of FTSE 350 DB pension schemes fell for the first time since November 2018, Mercer’s latest research has revealed
Posted: 02/05/19
The Pensions Protection Fund (PPF) could be at risk unless superfunds are subject to strong regulations, its chief executive has warned
Posted: 01/05/19
Local Pensions Partnership (LPP) has announced that its chief executive officer (CEO), Susan Martin, resigned from her role yesterday (30 April)
Posted: 01/05/19
The Pensions Regulator (TPR) has said it is in discussions with the Department for Work and Pensions (DWP) about implementing legislative changes, as part of its response into the Caroline Rookes review into communications provided to British Steel Pension Scheme (BSPS) members
Posted: 01/05/19
The average charity in the UK has a DB pension deficit proportionately higher than that of the average FTSE 350 company, Hymans Robertson has found
Posted: 01/05/19
The UK’s defined benefit deficit fell by £80bn to £180bn over April, PwC’s Skyval Index has revealed
Posted: 01/05/19
The government will not respond to a Labour-led Early Day Motion (EDM) urging it to “enact a temporary special measure” to provide restitution to women born in the 1950s that have been affected by the change in state pension age
Posted: 01/05/19
XPS Pensions Group has acquired Royal London Corporate Pension Services Limitied (RLCPS) from The Royal London Mutual Insurance Society Limited for £4.8m
Posted: 01/05/19
The Pensions Regulator (TPR) is still waiting for five schemes that have been granted an extension to submit their applications, its latest monthly report has revealed
Posted: 01/05/19
Sainsbury’s defined benefit pension scheme has recorded a surplus of £743m at the end of 2018/19, a £1bn swing on the previous year, its end of year results have revealed
Posted: 01/05/19
Over-taxation of pension freedoms has meant that a total of £433m has been reclaimed from HMRC by members withdrawing their pensions
Posted: 30/04/19
Tax relief on pensions savings cost the Treasury £38.4bn over 2017/18 as savers contributed £27.5bn in personal pensions over the same period
Posted: 30/04/19
Prime Minister Theresa May announced yesterday (29 April) that the Queen’s Speech will be postponed until an EU withdrawal agreement has been made, potentially delaying the upcoming Pensions Bill
Posted: 30/04/19
The Carillion Pension Scheme has moved its DC members into the LifeSight master trust, which will take full responsibility of the members’ benefits
Posted: 30/04/19
The total amount of pensions that has been flexibly withdrawn since the inception of pension freedoms has topped £25bn, HMRC has revealed
Posted: 30/04/19
The Financial Services Compensation Scheme (FSCS) has increased its levy for 2019/20 by £16m, up to £532m, after an uplift in claims against Self-Invested Personal Pension (SIPP) operators
Posted: 30/04/19
The government is calling in the ‘big three’ pension providers for “urgent talks” after accusations that they have not done enough to improve pension transfer times
Posted: 29/04/19
Chancellor Philip Hammond is in talks to make public service pension arrangements "more flexible", in order to find a possible solution to the NHS pension crisis, he has said.
Responding to the Treasury Committee last Friday, 26 April, Hammond said that it would be difficult to solve the problem through more tax relief, but a solution could be found by offering more flexibility around the overall remuneration package
Responding to the Treasury Committee last Friday, 26 April, Hammond said that it would be difficult to solve the problem through more tax relief, but a solution could be found by offering more flexibility around the overall remuneration package
Posted: 29/04/19
Tens of thousands of British savers will be affected by Malta’s new pension rules due to come into effect on 1 July 2019, according to deVere Group
Posted: 29/04/19
Almost all of the active members in the Oxfordshire County Council Pension Fund have received their 2017-18 annual benefit statement after The Pensions Regulator (TPR) intervened
Posted: 29/04/19
Social care system standards could be improved by adopting the model of the state pension, according to a government report
Posted: 29/04/19
The government has reiterated its positon on the net pay anomaly, after it said that it is “not cost effective” to reform pensions tax relief which could see workers miss out on up to £60m a year
Posted: 29/04/19
PensionBee has accused Star, the government-backed initiative aimed at shortening occupational transfer times, of “dangerously deluding” legislators and regulators over the industry’s ability to improve transfer times across the industry
Posted: 16/04/19
The Association of Consulting Actuaries (ACA) has welcomed the Department for Work and Pension’s (DWP) GMP conversion guidance, but said that it is “imperative” that HMRC addresses the tax implications of GMP equalisation
Posted: 26/04/19
Actuaries have been warned of the risks of giving “poor quality advice” that would result in trustees and employers unable to respond effectively to the challenges facing occupational pensions
Posted: 26/04/19
Debenhams’ pension schemes will “automatically” enter into a Pension Protection Fund (PPF) assessment period, following the company voluntary agreements (CVA) proposed today (26 April)
Posted: 26/04/19
A plumbing company has been forced to cease operations after receiving a bill of £395,200 from its pension scheme
Posted: 26/04/19
The government will not legislate to allow pension schemes to retrospectively apply integration, also known as ‘clawback’, the controversial practice which allows schemes to reduce member payments once they reach state pension age
Posted: 25/04/19
The British Medical Association (BMA) has criticised the government for not listening to, or advancing, proposals it has suggested to address the “perfect pensions storm” facing the National Health Service (NHS)
Posted: 25/04/19
Pensions technology firm Origo has for the first time published the average pension cash transfer performance of the providers that use its digital transfer service
Posted: 25/04/19
KCOM board directors have agreed an acquisition deal with the Universities Superannuation Scheme (USS) subsidiary, Bidco, worth £504m
Posted: 25/04/19
Seven in 10 over-55s are unaware they can potentially increase their income in retirement through an enhanced annuity, according to research by Hargreaves Lansdown
Posted: 25/04/19
The government should consider scrapping the triple lock for state pensions in favour of uprating the state pension in line with average earnings, a House of Lords committee has said
Posted: 25/04/19
The government has not assessed the impact that pension credit changes for mixed-aged couples will have on poverty rates, despite claims that some couples could lose up to £7,000 a year
Posted: 24/04/19
TPR executive director of regulatory policy, analysis and advice, David Fairs, explores the affects the regulator's Annual Funding Statement will have on schemes
Posted: 24/04/19
Members of the union Unite working at Aberdeen Airport have voted to strike in a row over the closure of the defined benefit pension scheme and pay
Posted: 24/04/19
“Improving awareness of retirement savings” is key when it comes to increasing the amount of extra income above the state pension in retirement, according to Equiniti
Posted: 24/04/19
Prudential Retirement has revealed that it has already concluded around £2bn (US$2.6bn) of longevity reinsurance contracts in 2019
Posted: 24/04/19
Legal and General (L&G) has agreed its first pension risk transfer (PRT) in Canada for more than £114m (CAD 200m)
Posted: 24/04/19
PLSA policy lead, investment and stewardship Caroline Escott discusses how important it is for pension fund investors to continue to push for better information from companies on how well they train, motivate and develop their workers
Posted: 23/04/19
Over 60 per cent of people chose to increase their monthly pension payments when their employer agreed to match the increases, analysis from Hargreaves Lansdown has found
Posted: 23/04/19
Two schemes have been fined for failing to comply with The Pensions Regulator’s requirements to produce a chair’s statement, as the regulator warns other schemes to comply with the law
Posted: 23/04/19
The firefighters union in Jersey has won the latest legal battle with the States Employment Board (SEB), after the board failed to uphold an agreement designed to prevent emergency services from striking
Posted: 23/04/19
The Pension Protection Fund (PPF) has published new guidance on contingency planning to help trustees prepare better in the event of employer insolvency
Posted: 23/04/19
Almost £37m was paid in compensation for pension and decumulation products over H2 2018, a £15.6m increase on the previous six months, the Financial Conduct Authority (FCA) has revealed
Posted: 18/04/19
The Department for Work and Pensions has delivered trustee guidance on how to equalise guaranteed minimum pensions (GMP), despite still considering changes to the conversion legislation
Posted: 18/04/19
The Competition and Markets Authority has recommended a shake-up of the UK’s audit market, proposing several reforms to address the “vulnerability” of the industry and the “current inadequate choice and competition”
Posted: 18/04/19
Mercer UK has appointed Sylvia Pozezanac as its new chief executive officer, a role she will begin in May 2019 replacing the incumbent CEO Fiona Dunsire
Posted: 18/04/19
The trustees of STV Group’s defined benefit pension schemes have agreed a 12-year plan to clear its £127m pension deficit
Posted: 18/04/19
Reporter Jack Gray argues that the pensions industry cannot alone solve the engagement issue that young people have with saving for retirement
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Posted: 18/04/19
The Local Government Pension Scheme's (LGPS) Scheme Advisory Board (SAB), has partnered with Hymans Robertson, to launch a national governance survey of LGPS and its stakeholders
Posted: 17/04/19
The Financial Conduct Authority (FCA) will be responsible for collecting £117.6m in levies for the new Money and Pensions Service (Maps), it has revealed
Posted: 17/04/19
Women of all age groups are at risk of a “financial meltdown” in the event of a relationship breakdown because of their lack of individual pension rights or even financial plans, according to new research by Royal London
Posted: 17/04/19
The Consumer Prices Index rate of inflation remained at 1.9 per cent in March, unchanged from February 2019, the Office for National Statistics has revealed
Posted: 17/04/19
The Financial Conduct Authority (FCA) will continue pressing on with initiatives to ensure the pensions market meets consumers’ needs, according to its latest business plan
Posted: 17/04/19
The government is being urged to draw on examples from other countries when it comes to implementing state pension reforms without causing further social inequalities, as it was found the current UK reforms have the potential to "exacerabate inequalities"
Posted: 17/04/19
The National Education Union (NEU) has said that it is “extremely concerned” about independent schools threatening to leave the Teachers' Pension Scheme following changes to employer contribution levels
Posted: 16/04/19
The fund management division of Legal and General (L&G), Legal and General Investment Management (LGIM), is to continue to vote against boards where concerns remain around environmental-based issues
Posted: 16/04/19
Over 75 per cent of trustees would not ever consider moving to a commercial consolidators, according to a report by Hymans Robertson
Posted: 16/04/19
The BlueSky Pension Scheme and The Crystal Trust have become the two latest schemes to be granted authorisation to operate as master trusts by The Pensions Regulator (TPR)
Posted: 16/04/19
Bank of America Merrill Lynch UK Pension Plan has completed a £400m buy-in with Scottish Widows, it has revealed
Posted: 16/04/19
Schemes have been encouraged to get ready for the pensions dashboard by regularly reviewing and improving both their common and scheme specific data, by XPS Pension Group
Posted: 16/04/19
Members of the Interserve pension schemes will be “largely unaffected” by the company falling into administration, according to The Pensions Regulator (TPR)
Posted: 16/04/19
The Work and Pensions Committee has written to The Pensions Regulator with regards to its engagement with the Railways Pension Scheme
Posted: 15/04/19
The Financial Conduct Authority (FCA) is consulting on rules to extend the remit of Independent Governance Committees (IGC) to oversee the value for money of pension drawdown solutions
Posted: 15/04/19
The government has claimed that “close monitoring” through increased governance has driven the improvement that Capita has made in its administration of the Royal Mail Pension Scheme
Posted: 15/04/19
The National Health Service (NHS) is helping doctors avoid large tax bills by paying their contributions in cash, instead of directly into their retirement funds, it has been revealed
Posted: 15/04/19
The National Union of Rail, Maritime and Transport Workers (RMT) has warned of co-ordinated action over any threat to pensions, following the “fiasco” over Stagecoach and Virgin being banned from the franchise lottery
Posted: 15/04/19
Up to two thirds of UK expats living in the Gulf could be unknowingly breaching pensions tax regulations, according to Hoxton Capital Management
Posted: 15/04/19
Pensions trustees and sponsors “have work to do” in defining their long-term funding targets, as set out in The Pensions Regulator’s (TPR) latest Annual Funding Statement
Posted: 15/04/19
Pension scheme members who use Pension Wise have a “greater understanding of the facts” regarding what they can do with their pension savings than non-users, analysis from the Department for Work and Pensions (DWP) has revealed
Posted: 12/04/19
The rate at which Local Government Pension Schemes are divesting from fossil fuels is “still far too slow”, trade union Unison has said
Posted: 12/04/19
The British Medical Association (BMA) has challenged The Pensions Ombudsman’s (TPO) decision that stated a locum general practitioner (GP) was not entitled death-in-service benefits as she died on a day that she was not contracted to work
Posted: 12/04/19
Over three-quarters (76 per cent) of workers in the UK were enrolled in occupational pensions schemes in 2018, research from the Office for National Statistics (ONS) has revealed
Posted: 12/04/19
Defined benefit pensions schemes will have to pursue a more diversified strategy to adjust to a “slow growth landscape”, a leading economist has warned
Posted: 12/04/19
Around two-thirds of trustees (64 per cent) have taken steps to prepare for Brexit, research by Hymans Robertson has found
Posted: 11/04/19
The government has said it will “fully-fund” the estimated £830m increase in pensions contributions of state schools for 2019/20.
Publishing its response to the consultation on teachers’ pensions yesterday, 11 April, the Department for Education committed to the grant for state schools, as well as a further £80m for further education colleges and public-funded training organisations
Publishing its response to the consultation on teachers’ pensions yesterday, 11 April, the Department for Education committed to the grant for state schools, as well as a further £80m for further education colleges and public-funded training organisations
Posted: 11/04/19
The total deficit of Tesco’s pension schemes fell by £400m to £2,300m over the past year, as of 23 February 2019, according to its final financial results report
Posted: 11/04/19
Around 12,000 pension savers have breached their lifetime allowance protections since 2006 when the modern system of pension tax allowances was introduced, a freedom of information (FOI) request by AJ Bell has revealed
Posted: 11/04/19
Fiduciary managers (FM) have struggled to deliver their 2018 performance targets “following the worst year for financial markets since 2011”, XPS Pensions Group has revealed
Posted: 11/04/19
Three-quarters of consumers are unaware that pensions products are protected by the Financial Services Compensation Scheme (FSCS), research has found
Posted: 11/04/19
The Pensions Regulator (TPR) has responded to Work and Pensions Committee chair, Frank Field MP, on what engagement it has had with the pension schemes of ailing retail group, Arcadia
Posted: 11/04/19
Arcadia owner Philip Green has been accused of being up to his “old tricks” after reports emerged that he is looking to halve the pension scheme recovery payments from £50m to £25m, as part of a company “restructuring”
Posted: 10/04/19
The European Commission wants EU member states to continue allowing citizens to export their pension benefits to the UK in the event of a no-deal Brexit
Posted: 10/04/19
Stagecoach has been disqualified from bidding for three current UK rail franchise competitions over concerns it has failed to safeguard the risk of sections of the Railways Pension Scheme (RPS), it has emerged
Posted: 10/04/19
The Pensions Ombudsman (TPO) has ordered the trustees of the Henry Davison Limited Pension Scheme to repay £2.5m of mismanaged funds back into the scheme.
It found that the trustees “committed multiple breaches of trust” and made decisions that amounted to “pure maladministration”
It found that the trustees “committed multiple breaches of trust” and made decisions that amounted to “pure maladministration”
Posted: 10/04/19
The Pension Protection Fund (PPF) is preparing for a “volatile market” over the next three years, as it attempts to set new standards for its members, it has said
Posted: 10/04/19
The trustees of both the Qinetiq Pension Scheme and the Peugeot Advanced Pension Plan have completed bulk annuity buy-ins with Scottish Widows
Posted: 10/04/19
The Money and Pensions Service (MAPS) has officially launched, kicking off with a number of listening events across the UK
Posted: 09/04/19
Institutional investors are again being urged to include a greater amount of sustainable assets in their portfolios to enhance returns
Posted: 09/04/19
Debenhams Pension Schemes will be “carrying on as usual”, despite Debenhams falling into administration today, 9 April 2019, it has revealed
Posted: 09/08/19
The PPF 7800 Index deficit increased from £8.6bn to £43.9bn over March, an increase of £35.3bn, the Pension Protection Fund (PPF) has revealed
Posted: 09/04/19
British Airways (BA) has agreed an out-of-court settlement with the trustee directors of the Airways Pension Scheme (APS), which will now see its members' pensions increase match the annual increase in the retail price index (RPI).
The agreement could mark the end to a six year legal battle, which was due to be heard in the Supreme Court this year. As a result, members will receive a “one-off lump sum” of 4.6 per cent this year for the period between 2013 to April 2019 where no discretionary increases were paid
The agreement could mark the end to a six year legal battle, which was due to be heard in the Supreme Court this year. As a result, members will receive a “one-off lump sum” of 4.6 per cent this year for the period between 2013 to April 2019 where no discretionary increases were paid
Posted: 09/04/19
The Pensions Ombudsman (TPO) has upheld a complaint against St James’s Place Wealth Management (SJP) regarding a pension fund transfer discrepancy
Posted: 09/04/19
The average pension pot size of people aged 43-54 years-old is only 37 per cent of the amount recommended for a comfortable retirement, research from Salisbury House Wealth has revealed
Posted: 08/04/19
Thousands of retirees are entering drawdown without calculating the amount of income they can generate, according to new research from Zurich
Posted: 08/04/19
Pension Insurance Corporation (PIC) has invested £40m into debt issued by Greatwell Homes, helping to develop 600 new homes in Northamptonshire, it has revealed
Posted: 08/04/19
Around one in eight companies have said they will adopt a Collective Defined Contribution (CDC) pension scheme of some sort by 2025, a survey from Willis Towers Watson (WTW) has found
Posted: 08/04/19
Average income from workplace pension schemes has fallen since the introduction of pensions freedoms in April 2015, research from Just Group has revealed
Posted: 08/04/19
Roughly 1.75 million workers could be missing up to £60m a year in tax relief, a Royal London freedom of information (FOI) request has found.
The number is around half a million more than previously thought as the income tax threshold rose from £11,000 to £12,500 a year, while the auto-enrolment threshold remained at £10,000
The number is around half a million more than previously thought as the income tax threshold rose from £11,000 to £12,500 a year, while the auto-enrolment threshold remained at £10,000
Posted: 08/04/19
Over the past week or two, my inbox has been flooded with press releases in preparation for the jump in auto-enrolment contributions, due to take place tomorrow (6 April)
Posted: 05/04/19
The government has highlighted the ways in which it has issued advice to people affected by the changes to pension rules for mixed-age couples, which come into force on 15 May 2019.
The changes will mean that both partners in a household would have to have reached state pension age to transition from working age benefits to pension age benefits, including claiming pension credit and pension age housing benefit
The changes will mean that both partners in a household would have to have reached state pension age to transition from working age benefits to pension age benefits, including claiming pension credit and pension age housing benefit
Posted: 05/04/19
The Co-operative Group’s (Co-op) overall pension scheme surplus increased by £306m year-on-year to £1,859m, as of 5 January 2019, according to its annual financial results report
Posted: 05/04/19
Tax changes coming into force on the same day (6 April) as the auto-enrolment minimum contribution increase, could soften the blow to savers’ take home pay packets, Now Pensions has revealed
Posted: 05/04/19
Industry members and experts have welcomed the release of the government’s pension dashboard consultation response, but warned that if the dashboard is not comprehensive and widely publicised it could falter
Posted: 04/04/19
Members of defined benefit pension schemes are more likely to explore the options that pensions freedoms offer if they are provided with advice and support, research from Willis Towers Watson (WTW) has revealed
Posted: 04/04/19
The pension deficit of the FTSE 350 grew from £45bn to £55bn over March, the largest it has been for 18 months, according to data from Mercer
Posted: 04/04/19
Saga’s DB pension scheme valuation fell by £6.2m over six months, as of January 2019, to a deficit of £2.8m, according to its preliminary results report
Posted: 04/04/19
Pension schemes hedged over £1trn of liabilities in 2018, a 6 per cent increase on the previous year, an XPS Investment survey has revealed
Posted: 04/04/19
More than half a million (520,000) workers aged over 65 faced tax bills of up to 40 per cent after failing to defer their state pension, Royal London has found
Posted: 04/04/19
The government has given the go ahead for the pensions dashboard, with the expectation that pension schemes can complete delivery within a three to four year window, it has revealed.
In its consultation response published today, 4 April, Secretary of State for Work and Pensions, Amber Rudd, said that the government will facilitate the delivery of the dashboard as a "key priority" and hopes to see an industry dashboard developed and tested this year
In its consultation response published today, 4 April, Secretary of State for Work and Pensions, Amber Rudd, said that the government will facilitate the delivery of the dashboard as a "key priority" and hopes to see an industry dashboard developed and tested this year
Posted: 04/04/19
The modern age
Deputy editor Natalie Tuck chats to the ABI’s Yvonne Braun about her work at the ABI and her thoughts on key pension topics
Stepping into the spotlight
Laura Blows speaks to Laird R. Landmann, group managing director and co-director of fixed income at US-based TCW, about the opportunities TCW can provide for UK pension funds
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