Latest News
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Green urged to fund Arcadia pensions scheme
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Stagecoach commences further legal action against govt
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Maps funding for dashboard implementation totals £8.2m
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BLOG: Industry must unite over transfers
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Plumbing pensions to finally close to future accrual
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BLOG: Celebrating (commiserating) equal pension day – 144 days too late
Archive News
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.
In a letter from the Work and Pensions Committee chair, Frank Field, Green has been asked to replicate the personal funding he gave to BHS pension scheme members following a similar situation, or “The Pensions Regulator (TPR) will have no choice but to take action”
In a letter from the Work and Pensions Committee chair, Frank Field, Green has been asked to replicate the personal funding he gave to BHS pension scheme members following a similar situation, or “The Pensions Regulator (TPR) will have no choice but to take action”
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 £80m to £180m 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 Pensions and Lifetime Savings Association (PLSA) will focus on well-run schemes, effective engagement, adequate contributions and consolidation over the next four years, it has revealed
Posted: 03/04/19
Firms are being urged to show “care about doing things efficiently” by backing an initiative which aims to deliver long-term governance solutions to occupational transfers
Posted: 03/04/19
The shortlist for the 2019 European Pensions Awards has been revealed
Posted: 03/04/19
Pension transfer values rose by £9,700 during March, up to £244,900, according to research by XPS Pensions Group
Posted: 03/04/19
The number of authorised master trusts participating in the market could total 40 after the deadline for schemes to submit their authorisation applications passed on 31 March
Posted: 03/04/19
The Money and Pensions Service will be at the “heart” of improving the nation’s financial wellbeing when it publishes its national strategy in the Autumn of this year, its chairman Hector Sants has said.
Speaking at the Pensions Management Institute Pensions Aspects Live today, 3 April, Sants outlined his vision for the new body, which merges Pensions Wise, The Pensions Advisory Service and the Money Advice Service, with a view for the strategy to be up and running independently by 2021
Speaking at the Pensions Management Institute Pensions Aspects Live today, 3 April, Sants outlined his vision for the new body, which merges Pensions Wise, The Pensions Advisory Service and the Money Advice Service, with a view for the strategy to be up and running independently by 2021
Posted: 03/04/19
Pensions Minister Guy Opperman has outlined what he expects to be “three key parts” of the upcoming Pensions Bill
Posted: 03/04/19
Laird Pension Scheme has secured the benefits of its 940 members in a bulk annuity deal worth £110m, it has revealed
Posted: 02/04/19
Members of the Kodak Pension Plan (No.2) (KPP2) are facing tax charges on pension savings they will no longer receive, after the scheme entered Pension Protection Fund (PPF) assessment last week (25 March).
KPP2 members who have paid a Lifetime Allowance (LTA) tax charge on their pension, but who are facing a cut of 10 per cent or more in their savings, will be paying tax on pensions they no longer receive, as well as “penal” tax charges if they seek to rebuild their lost savings
KPP2 members who have paid a Lifetime Allowance (LTA) tax charge on their pension, but who are facing a cut of 10 per cent or more in their savings, will be paying tax on pensions they no longer receive, as well as “penal” tax charges if they seek to rebuild their lost savings
Posted: 02/04/19
Workers saving into automatic enrolment (AE) pension schemes could be £40,000 worse off in retirement due to the way minimum contributions are calculated, according to Now Pensions
Posted: 02/04/19
The majority of pensions industry professionals do not believe that collective defined contribution (CDC) schemes will be a success in the UK, new research from the Pensions Management Institute (PMI) has found
Posted: 02/04/19
Pensions and Lifetime Savings Association (PLSA) policy lead, investment and stewardship, Caroline Escott explains the findings of the PLSA's updated Hidden Talent report
Posted: 02/04/19
The Pensions Regulator (TPR) has granted authorisation to Legal & General’s (L&G) two master trusts, making them the second and third schemes to gain authorisation
Posted: 02/04/19
Pension Insurance Corporation (PIC) has concluded a pension insurance full buy-in with the trustees of the Dresdner Kleinwort Pension Plan, insuring £1.2bn of pension liabilities
Posted: 02/04/19
Marsh & McLennan Companies (M&M) has announced that it has completed the acquisition of Jardine Lloyd Thompson Group (JLT) for $5.6bn (£4.27bn) in fully diluted equity value
Posted: 01/04/19
The UK’s defined benefit pension scheme deficit increased by £60bn to £260bn at the end of March, PwC’s Skyval Index has revealed
Posted: 01/04/19
Having adequate funding in retirement is the most common financial worry for UK employees, according to a new survey from Close Brothers
Posted: 01/04/19
Retirees are opting for cautious and considered approach to investment instead of generating higher returns, research from Aegon has found
Posted: 01/04/19
One in 10 people over the age of 50 with a pension plan believed that they had been approached by scammers attempting to access their savings, new research from Succession Wealth has revealed
Posted: 01/04/19
The High Court has ruled that firefighters making additional earnings through working extended hours or doing additional duties are entitled to increased pensions.
In what has been described as a “landmark case” that could have “huge implication for firefighters”, the High Court sided with the Fire Brigades Union (FBU) that paid training and overtime were pensionable
In what has been described as a “landmark case” that could have “huge implication for firefighters”, the High Court sided with the Fire Brigades Union (FBU) that paid training and overtime were pensionable
Posted: 01/04/19
An accountant trustee who fraudulently took over £290,000 from a company pension scheme has been sentenced to three years in prison
Posted: 29/03/19
The government is forming a working group to consider the pensions tax issues arising from guaranteed minimum pensions (GMP) equalisation, almost five months after the High Court ruling
Posted: 29/03/19
The Pensions Regulator (TPR) has said there is a “significant minority” of small scheme trustees who are refusing to engage with their 21st Century Trusteeship initiative
Posted: 29/03/19
Debenhams pension scheme members “can be reassured that the schemes will continue to operate as normal” following a £200m refinancing agreement with lenders
Posted: 29/03/19
Only around a third (32 per cent) of people aged over 55 who have accessed their pension use a financial adviser for help with financial planning, research from Canada Life has revealed
Posted: 29/03/19
The new pensions funding code, expected in 2020, could increase UK defined benefit (DB) pension deficits by £100bn, according to research by KPMG
Posted: 29/03/19
Roughly 11,000 members of Kodak Pension Plan (No.2) (KPP2) have officially entered the Pension Protection Fund (PPF) assessment period, the largest claim on the lifeboat to date, it has revealed.
Speaking to Pension Age, PPF panel manager, Helen Beckinsale confirmed that the trustees of the defined benefit pension scheme, which has a deficit of £1.5bn, had been in negotiation with the PPF for the past eight months
Speaking to Pension Age, PPF panel manager, Helen Beckinsale confirmed that the trustees of the defined benefit pension scheme, which has a deficit of £1.5bn, had been in negotiation with the PPF for the past eight months
Posted: 28/03/19
ABI policy adviser, long-term savings, Matt Burrell explains that there are more dashboard options than just between single and multiple
Posted: 28/03/19
Participation in workplace pension schemes has increased to 71 per cent, up from 49 per cent, since the introduction of automatic enrolment (AE) in October 2012
Posted: 28/03/19
The Church of England Pensions Board and the AP Funds' Ethics Council will represent the Principles for Responsible Investment (PRI) in a co-convened independent review of the standard of tailings storage facilities
Posted: 28/03/19
Deputy editor Natalie Tuck looks at research from Standard Life, which highlights the financial cost of women living with the invisible illness, Endometriosis.
Posted: 28/03/19
Pension schemes moving to commercial consolidators is being held up by a lack of regulation and guidance, according to Barnett Waddingham partner, Danny Wilding
Posted: 28/03/19
The average weekly pensioner income declined slightly between 2009/10 and 2017/18, from £307 to £304, according to research from the Department for Work and Pensions (DWP).
In its study, Pensioners’ Incomes Series: An analysis of trends in Pension Incomes: 1994/95 to 2017/18, the DWP found that average weekly incomes for pensioners had nearly flat-lined over the past eight years
In its study, Pensioners’ Incomes Series: An analysis of trends in Pension Incomes: 1994/95 to 2017/18, the DWP found that average weekly incomes for pensioners had nearly flat-lined over the past eight years
Posted: 28/03/19
Nest has submitted its master trust application to The Pensions Regulator (TPR), meaning the number of master trusts to apply has reached 23, it has revealed
Posted: 27/03/19
ITV’s plan to close the UTV pension scheme has been branded a “sham” by officials at media and entertainment union, Bectu
Posted: 27/03/19
Welpen Pensions has decided to exit the master trust market as the regulatory environment moves towards consolidation, it has revealed
Posted: 27/03/19
The bulk annuity market has exceeded £24bn in pension scheme buy-in and buyout transactions in 2018 for the first time in history, new research from Barnett Waddingham has revealed
Posted: 27/03/19
Lower employee pension participation rates among smaller employers remains a “puzzle”, despite the gap being reduced through auto-enrolment, the Institute for Fiscal Studies (IFS) has found
Posted: 27/03/19
The Department for Work and Pensions (DWP) has revealed its checklist of “priorities and ambitions” for the upcoming defined benefit (DB) master trust accreditation regime
Posted: 27/03/19
The gap between men and women’s pension savings that are auto-enrolled with Now Pensions is widening, the firm has revealed
Posted: 27/03/19
Despite companies’ willingness to help their employees make the right decisions when it comes to retirement, the tools and processes they utilise are not currently meeting these needs, according to Aon
Posted: 26/03/19
A pensions specialist is urging people not to opt out of their workplace pension when their pension contribution increases from 3 per cent to 5 per cent on 6 April
Posted: 26/03/19
The Business, Energy and Industrial Strategy Committee has called for ‘greater alignment’ of the pension contributions of executive and employer pay
Posted: 26/03/19
The “primary responsibility” for changing the environment on executive pay rests with the asset owners – pension funds - the Business, Energy and Industrial Strategy Committee has said.
The committee’s report, Executive rewards: Paying for success, examines the progress the government is making on the gap between executive and employer pay and the performance of the company
The committee’s report, Executive rewards: Paying for success, examines the progress the government is making on the gap between executive and employer pay and the performance of the company
Posted: 26/03/19
Phoenix Group has announced changes to its Independent Governance Committees (IGCs), which will result in David Hare becoming the independent chair of all its IGCs
Posted: 26/03/19
The pressure to find high-yield investment opportunities will be one of the main constraints on the 2019 buyout market, JLT Employee Benefits has said
Posted: 26/03/19
A comprehensive pensions dashboard may not be made into a reality until 2024, it has been suggested by industry experts
Posted: 25/03/19
Hundreds of pension schemes are now able to calculate transfer values to allow for guaranteed minimum pension (GMP) equalisation, JLT Employee Benefits has said
Posted: 25/03/19
Private equity firm Epiris has confirmed that IFG Group pension scheme members will be safeguarded in the event of its acquisition of the financial services firm
Posted: 25/03/19
FTSE 100 pension scheme buyout transactions could rocket from £5bn to £300bn over the next 10 years, a Lane Clark & Peacock report has found
Posted: 25/03/19
Savers did not regret flexibly accessing their pension savings as part of pension freedoms, despite the majority not using an adviser to help with their financial planning
Posted: 25/03/19
An estimated 1.25 million people are set to breach the current Lifetime Allowance (LTA) limit for pensions tax relief, according to new research from Royal London
Posted: 25/03/19
Public and Commercial Services (PCS) Union has called on the government to freeze pension payments that are set to be cut, after a calculation error was exposed in relation to guaranteed minimum pension (GMP) payments
Posted: 22/03/19
Employee contributions into defined contribution pension pots outstripped defined benefit contributions for the first time, according to figures from the Office for National Statistics (ONS).
In 2018, employee contributions into DC pensions totalled £4.073bn, while contributions in DB pension pots was recorded at £3.216bn
In 2018, employee contributions into DC pensions totalled £4.073bn, while contributions in DB pension pots was recorded at £3.216bn
Posted: 22/03/19
The Regulatory Policy Committee (RPC) has notified the Department for Work and Pensions (DWP) that it believed auto-enrolment policy was ‘fit for purpose’ for offshore workers in a post-implementation review (PIR)
Posted: 22/03/19
The chair of the trustee board at Now Pensions, Nigel Waterson, has announced that he is standing down after more than seven years in the position
Posted: 22/03/19
Pension transfers dropped from £8bn to £6.3bn in Q4 2018, a decrease of 20 per cent, according to the latest Office for National Statistics figures
Posted: 21/03/19
The Pensions Regulator (TPR) has revealed that it has granted 11 master trust authorisation application extensions to date
Posted: 21/03/19
Prime Minister Theresa May has refused to budge on the government’s stance on Waspi women, adding that the government has already put extra money in following the increase in women’s state pension age
Posted: 21/03/19
Urgent measures including offering partial pensions must be implemented to stop senior NHS staff from leaving the health service, a joint report from leading industry bodies had said
Posted: 21/03/19
LV’s equity release sales increased by 77 per cent in 2018 to a total of £211m, as of December 2018, its full year results have revealed
Posted: 21/03/19
The cost of equalising guaranteed minimum pensions (GMP) is likely to cost almost half of the £15bn anticipated by the industry after the ruling, new analysis has found
Posted: 21/03/19
The Pensions Ombudsman has partly upheld a number of complaints relating to the annual revaluation rate the Central Bureau for Educational Visits and Exchanges Pension Scheme uses for deferred members
Posted: 21/03/19
The Money and Pensions Service (MAPS) is recruiting for a principal and for animplementation director for its Pensions Dashboard Industry Delivery Group
Posted: 20/03/19
The overall post-tax DB pension position of UK construction company, Kier Group, moved from a surplus of £8m to a deficit of £14m over six months, as of 31 December 2018
Posted: 20/03/19
Trustees remain unconvinced by the merits that commercial consolidators could provide to the security of member’s benefits, new research has revealed
Posted: 20/3/19
Defined benefit pension scheme consultants must focus on the “end game” as schemes near towards the end game, according to Barnett Waddingham head of actuarial consulting Paul Houghton
Posted: 20/03/19
Minister for Pensions and Financial Inclusion Guy Opperman reveals the government’s intentions for collective defined contribution (CDC) schemes
Posted: 20/03/2019
The government should refrain from increasing the minimum contribution level for auto-enrolment schemes further, once the April increase comes into force, according to Hargreaves Lansdown senior analyst, Nathan Long
Posted: 20/3/19
The Consumer Prices Index rate of inflation rose steadily to 1.9 per cent in the 12 months to February 2019, up from 1.8 per cent in January 2019, according to the Office for National Statistics (ONS)
Posted: 20/03/19
Defined benefit pension schemes are being urged to consider captive-based solutions on the island of Guernsey, as another de-risking option
Posted: 19/03/19
The National Housing Federation (NHF) has issued guidance to housing associations on how to account for the Social Housing Pension Scheme (SHPS) and the Scottish Housing Association Pension Scheme (SHAPS) as defined benefit schemes for the first time
Posted: 19/03/19
Legal & General (L&G) has completed a £230m buy-in for all of the pensioner and deferred members of the Howden Group Pension Plan
Posted: 19/03/19
Lloyds Banking Group (LBG) has lost its dispute with Standard Life Aberdeen (SLA) over the termination of its own and its subsidiary's (Scottish Widows),£100bn plus investments with the group
Posted: 19/03/19
The surplus of UK broker company TP ICAP’s defined benefit (DB) pension scheme fell by £2m year-on-year to £55m, as of 31 December 2018
Posted: 19/03/19
There is a large divide between advised clients and the wider over 55 population on the awareness of the advantages of leaving pensions as an inheritance, identifying a market opportunity for advisers, new research has found
Posted: 19/03/19
Work and Pensions Committee chair, Frank Field MP, has written to Arcadia Group pensions manager, Margaret Hannell, requesting an update on its two schemes following contribution increases
Posted: 19/03/19
Trustees have again named employer covenant risk as the greatest risk facing DB pension schemes, according to PTL’s latest DB Risk Survey
Posted: 19/03/19
Pensions and Lifetime Savings Association head of DB, LGPS and standards, Joe Dabrowski, details the improved security that superfunds could offer to vulnerable DB scheme members
Posted: 18/03/19
JD Sports has agreed to “fully safeguard” the pension rights of Footasylum members in a takeover deal worth approximately £90.1m
Posted: 18/03/19
Royal London director of policy, Steve Webb, has voiced his concern that the government’s proposed legislation for collective defined contribution schemes (CDC) was “very narrow in scope”
Posted: 18/03/19
Work and Pensions Committee chair, Frank Field, has written to The Pensions Regulator (TPR), seeking assurances over how Interserve pension scheme members will be affected by the company falling into administration
Posted: 18/03/19
The government has announced that it will be pushing ahead with the introduction of collective defined contribution (CDC) pension schemes to improve the retirement outcomes for both employees and employers
Posted: 18/03/19
Arcadia owner Philip Green and his advisers are planning to propose a company voluntary arrangement (CVA) to financially restructure the retail group.
The plan would require approval from the Pension Protection Fund (PPF) to be introduced
The plan would require approval from the Pension Protection Fund (PPF) to be introduced
Posted: 15/03/19
HSBC has announced that it will reduce the amount of money executive directors can receive in lieu of pension contributions, following criticism of its previous policy
Posted: 15/03/19
The pensions industry needs to rethink the way that it communicates with members to improve engagement and help them understand their savings, suggested a panel of experts
Posted: 15/03/19
The latest news in brief and mandates from the past week
Posted: 15/03/19
Pension funds were “falling short” of best practice on their private equity investments, according to alternative investment solutions provider Efront
Posted: 15/03/19
Pension transfer values closed February unchanged at £235,000, after initially increasing during the month, according to XPS Pensions Group
Posted: 15/03/19
The government of the Isle of Man has recommended the creation of a voluntary defined contribution scheme for new starters, in order to decrease its current funding gap
Posted: 14/03/19
The number of workers automatically enrolled in workplace pension schemes increased by 24,000 in February, The Pensions Regulator’s (TPR) latest declaration of compliance report has revealed
Posted: 14/03/19
The Office for Budget Responsibility has said the Court of Appeal’s ruling that government changes to the pensions of judges and firefighters are discriminatory, presents a “longer-term fiscal risk” to public finances
Posted: 14/0319
Savers have accessed over £3.2bn of their savings through pension freedoms without taking any financial advice, new research from Saga has revealed.
The study, which interviewed more than 2,000 adults, also found that only 20 per cent of people would consider taking advice when accessing their pension pot through pension freedoms, while 84 per cent still do not know what pension freedoms is
The study, which interviewed more than 2,000 adults, also found that only 20 per cent of people would consider taking advice when accessing their pension pot through pension freedoms, while 84 per cent still do not know what pension freedoms is
Posted: 14/03/19
Just Group’s retirement income sales increased by 15 per cent in 2018, its preliminary results report has revealed
Posted: 14/03/19
The National Pension Trust has become the latest scheme to apply for master trust authorisation from The Pension Regulator (TPR)
Posted: 14/03/19
The Financial Conduct Authority (FCA) has written a letter to Work and Pensions Committee chair Frank Field defending the amount of staff it has working to tackle scams
Posted: 13/03/19
Pensions Minister Guy Opperman has faced cross-party pressure to speed up the government’s pledged changes to auto-enrolment, outlined in its 2017 AE review
Posted: 13/03/19
The government has said it will respond to the Lords Committee’s recommendation to use one single indexation measure to fix an error in the retail price index (RPI) in April, a Spring Statement that offered little news for pension has revealed
Posted: 13/03/19
Britain’s fourth largest supermarket, Morrisons, has reported a net pension surplus of £688m in its full-year results
Posted: 13/03/19
Many workers across the UK were unaware of the advantages of saving into an automatic enrolment (AE) pension scheme, new research from The People's Pension (TPP) has revealed
Posted: 13/03/19
Sustainability Summit 2019: New pension rules inadequate to protect savers from climate change risks
New pension rules requiring providers to disclose environmental, social and governance (ESG) considerations are "not enough” to protect savers from the risks posed by climate change, according to UKSIF chief executive, Simon Howard
Posted: 13/03/19
Standard Life Aberdeen (SLA) has revealed that the pension freedoms, leading to a greater demand for financial advice, has boosted its Wrap platform with the creation of Professional Portfolio Manager
Posted: 13/03/19
Facing up to pension freedoms is the biggest challenge facing the Financial Services Compensation Scheme (FSCS) over the next decade, its outgoing chief executive has warned
Posted: 13/03/19
Around 28 per cent of pension income will be from defined contribution schemes by 2060, up from 5 per cent in 2016/17, according to the Pensions Policy Institute (PPI)
Posted: 12/03/19
The number of pension schemes which were late in reporting their triennial valuations was recorded at 169 in 2018, The Pensions Regulator has revealed.
The number is down 15 per cent on the 2017 figures, where 201 schemes were late, and marks a steady decline in the amount of schemes which were late in their valuation reporting over the past five years
The number is down 15 per cent on the 2017 figures, where 201 schemes were late, and marks a steady decline in the amount of schemes which were late in their valuation reporting over the past five years
Posted: 12/03/19
Work and Pensions Committee chair, Frank Field, has lamented The Pensions Regulator for closing its anti-avoidance investigation into the closure of the Johnston Press Pension Scheme
Posted: 12/03/19
The Department for Work and Pensions (DWP) has welcomed the findings of the Competition and Markets Authority’s (CMA) investigation into the fiduciary management and investment consultant markets, and will look to bring regulations into force by 2020
Posted: 12/03/19
Doctors are intending to sue the government over the “discriminating” NHS Pension Scheme, which they say they were forced to join and will result in “huge financial losses” when they retire
Posted: 12/03/19
The PPF 7800 Index deficit dropped from £23.1bn to £8.6bn over February, a decrease of £14.5bn, the Pension Protection Fund has revealed
Posted: 12/03/19
The Pensions Regulator (TPR) has decided to drop its anti-avoidance investigation into Johnston Press, having found no evidence it planned to avoid paying deficit repair contributions (DRC) after falling into administration last November
Posted: 11/03/19
A no-deal Brexit could increase UK defined benefit pension scheme liabilities by more than £140bn, analysis from Columbia Threadneedle Investments has found
Posted: 11/03/19
Works and Pensions Committee chair, Frank Field MP, has written to The Pensions Regulator (TPR), asking for an update on its involvement with Debenhams’ current refinancing operation
Posted: 11/03/19
PensionBee has accused Now Pensions of “attempting to pull the wool” over the government’s eyes in regards to its charging structure
Posted: 11/03/19
Around £3.3bn worth of money withdrawn from the pension pots of those accessing pension freedoms has been put in bank accounts, but these savers could face "double jeopardy"
Posted: 11/03/19
Staff working at the Historic Royal Palaces (HRP) have accepted a pensions offer which will see their defined benefit scheme close
Posted: 11/03/19
Former Chancellor of the Exchequer, Alistair Darling, has warned of an erosion of trust between savers and the financial institutions which manage their money
Posted: 08/03/19
With contributions to the Teachers' Pension Scheme in September 2019 set to rise, one pensions expert and school governor discusses the complexity of the situation
Posted: 08/03/19
Women who have entered drawdown since the launch of pension freedoms in April 2015 have pension pots that are worth 34 per cent less than men, according to research by AJ Bell
Posted: 08/03/19
Defined contribution pension schemes must approach infrastructure investment with their “eyes open”, Nest chief investment officer, Mark Fawcett has said
Posted: 08/03/19
Concerns about the ability to measure the results of impact impacting is holding back its implementation, it has been suggested
Posted: 08/03/19
Strong leadership that is committed to improving diversity in pensions is “absolutely critical” in helping to create a more diversified industry
Posted: 08/03/19
The Women’s Trades Union Congress (TUC) has passed a Prospect motion calling for greater action to tackle the gender pension gap as it “deplores” the lack of progress being made.
Posted: 08/03/19
Diversification is “not enough” on its own for a default DC pension investment strategy to provide a comfortable retirement for its members, according to State Street Global Advisors senior investment manager, Mehvish Ayub
Posted: 08/03/19
A working industry group is hoping to deliver cost transparency templates across the pensions industry by the end of April or early May, it has revealed
Posted: 08/03/19
The Pensions Regulator is set to consult on its guidance for trustees looking to tender for fiduciary managers in June, but said that trustees must protect themselves in the meantime, it has warned
Posted: 07/03/19
Investment in private markets and careful planning could increase defined contribution pension scheme investment returns by 15 per cent
Posted: 07/03/19
Trustees should be doing more to encourage their scheme's asset managers to invest more sustainably, according to BNP Paribas Asset Management global head of sustainability, Jane Ambachtsheer
Posted: 07/03/19
Pension funds should focus on changing the ethical behaviour of companies from within before choosing to divest, it has been suggested
Posted: 07/03/19
The charge cap on defined contribution pension scheme investments is “almost an irrelevance”, according to Legal & General Investment Management head of DC, Emma Douglas
Posted: 07/03/19
The life expectancy for a 65-year-old is lower than any other previous cohort assessed by the Continuous Mortality Investigation’s (CMI) Mortality Projections Model 2018 (CMI_2018)
Posted: 07/03/19
Existential risks are the biggest threat to UK defined benefit schemes investment returns, a leading economist has warned
Posted: 07/03/19
Pension Insurance Corporation Group, the parent company of Pension Insurance Corporation (PIC), has announced profits of £477m before tax for 2018
Posted: 07/03/19
The retirement age in the UK would need to increase to 70 by 2030 to keep the 'stable support ratio' recorded in 2010 at the same level, according to Border to Coast Pensions Partnership CIO, Daniel Booth
Posted: 07/03/19
The current generation of savers will find it “virtually impossible” to save enough for a decent income in retirement following a poor decade of growth, the Institute for Fiscal Studies (IFS) director has warned
Posted: 06/03/19
The Pensions Regulator (TPR) received four applications for master trust authorisation during February, bringing the total number of schemes to apply to 13
Posted: 06/03/19
Auto-enrolled pension savers have been warned that opting out of their workplace pension scheme could lose them £542,000 in pension savings over a lifetime, Aegon has warned
Posted: 06/03/19
Aon has confirmed it is not pursuing the acquisition of Willis Towers Watson (WTW)
Posted: 06/03/19
The pensions sector must improve the “trust deficit” between the industry and savers throughout uncertain geopolitical and economic times, the Pensions and Lifetime Savings Association (PLSA) chair, Richard Butcher, has warned
Posted: 06/03/19
Legal & General Investment Management (LGIM) has reported an 18 per cent increase in defined contribution assets under management (AUM)
Posted: 06/03/19
The government has announced it is scrapping PiP reassessments for disabled pensioners, instead introducing a “light touch review” every 10 years
Posted: 06/03/19
Aon has confirmed that it is in the “early stages” of considering an all-share business acquisition with rival Willis Towers Watson.
Posted: 06/03/19
Pensioners expecting to rely solely on their state pension could face a £68,000 shortfall in retirement, research by Nationwide Building Society has shown
Posted: 05/03/19
Defined benefit schemes with valuations set to take place on 31 March have been warned of the impact Brexit could have, as Brexit day - 29 March – is the last financial trading day for schemes that have valuation year-end dates
Posted: 05/03/19
Drawdown cash withdrawals are set to increase significantly in the build up to the end of the 2018/19 tax year, according to analysis from Hargreaves Lansdown
Posted: 05/03/19
Defined benefit schemes are expected to set a long-term funding target (LTFT) with an investment strategy in place to achieve it, according to The Pensions Regulator (TPR)
Posted: 05/03/19
The accounting deficit of DB pension schemes for FTSE 350 firms increased by £4bn to £45bn during February, Mercer’s latest Pension Risk Survey has revealed
Posted: 05/03/19
The SEI master trust has announced that it is the latest scheme to apply for master trust authorisation from The Pensions Regulator (TPR)
Posted: 05/03/19
Daily Mail and General Trust (DMGT) has pledged to pay £117m into its defined benefit pension schemes, as part of its plan to dispose all of its shares in Euromoney Institutional Investor
Posted: 04/03/19
The Single Financial Guidance Body (SFGB) is set to be renamed as the Money and Pensions Service
Posted: 04/03/19
National Express has completed a buy-in with Rothesay Life, securing 100 per cent of the future obligations of its UK Group Scheme, it has revealed
Posted: 04/03/19
The Department for Work and Pensions (DWP) has issued an apology for an “administrative error”, after it wrongly sent around 1,000 letters to UK pensioners living abroad telling them their state pension payments were going to be stopped
Posted: 04/03/19
Manufacturing company Senior plc has revealed that its UK defined benefit (DB) pension plan surplus has increased up to £30.9m, as of 31 December 2018, in its Final Results report
Posted: 04/03/19
Half (50 per cent) of people currently in retirement stopped working earlier than they had planned to, new research from Aegon has revealed
Posted: 04/03/19
The Financial Conduct Authority (FCA) has urged British Steel Pension Scheme (BSPS) members who were advised to transfer of out the scheme to take action if they believed the advice to be unsuitable.
Any member who was unsure if the guidance that they received was suitable should first make the complaint to the firm that provided the advice
Any member who was unsure if the guidance that they received was suitable should first make the complaint to the firm that provided the advice
Posted: 04/03/19
The latest news in brief and mandates from the past week
Posted: 01/03/19
Workers at Delphi Technologies are set to be balloted for industrial action over the closure of their defined benefit pension scheme, which could cost some workers thousands of pounds
Posted: 01/03/19
The winners of the annual Pensions Age Awards were announced last night at a glittering gala ceremony in London attended by almost 600 people
Posted: 01/03/19
Just one in 20 Nest members think that too much of their income goes into their pension savings, according to new research from Nest Insight
Posted: 01/03/19
The combined deficit of the FTSE 100 defined benefit pension schemes fell by £8bn to £13bn over February, according to JLT Employee Benefits latest index figures
Posted: 01/03/19
The Pensions Regulator has revealed it expected an “early peak” in master trust authorisation applications
Posted: 01/03/19
Around 70 per cent of pensions professionals believed that lay trustees will not need to be present on pension scheme boards in 10 years’ time, according to a recent survey from RSM.
The survey of around 200 trustees and industry members found that the concern related to the increased professionalisation and pressures of the job
The survey of around 200 trustees and industry members found that the concern related to the increased professionalisation and pressures of the job
Posted: 01/03/19
One in 20 pension transfers are ‘dodgy’, Pensions Administration Standards Association (Pasa) president and Pensions Scams Industry Group (PSIG) chair Margaret Snowdon has warned
Posted: 01/03/19
The Financial Conduct Authority (FCA) has proposed a set of rules requiring scheme governance bodies to disclose the cost and charges to scheme members on an “ongoing basis”
Posted: 28/02/19
House of Lords MP, Baroness Jeannie Drake, has encouraged guidance to be integrated in the pensions dashboard in an attempt to improve savers’ decision-making
Posted: 28/02/19
Incentivising executives to fund their pension schemes is more likely to see defined benefit schemes survive, rather than penalising bosses once schemes have failed, academic research has revealed.
Posted: 28/02/19
The relative infancy of pension freedoms is causing confusion amongst the younger generation, who need more guidance on planning for their retirement, according to Prudential UK director of propositions, Stuart Paton Evans
Posted: 28/02/19
Taylor Wimpey is to continue paying contributions into its pension scheme after its funding level fell below 94 per cent, its end of year results revealed
Posted: 28/02/19
The Pensions Regulator (TPR) is prosecuting a former head of a charity for the disabled on suspicion of having defrauded the charity’s pension scheme
Posted: 28/02/19
Pension schemes should adopt the D2 method for guaranteed minimum pensions (GMP) equalisation in order to get favourable buy in and buyout pricing, research has found
Posted: 28/02/19
There are still obstacles to overcome before collective defined contribution (CDC) pension schemes can be widely introduced into the UK pension landscape, according to MP Baroness Jeannie Drake
Posted: 27/02/19
Despite baby boomers owning more than a third of the UK’s wealth, many in this age group are missing out on potential investment gains as they lack confidence and knowledge about where to invest their money, research by savings and investment company Aegon has found
Posted: 27/02/19
An accountant that used members’ pension contributions as a “personal piggy bank” has been prosecuted by The Pensions Regulator (TPR) after admitting to transferring more than £280,000 of pension funds to support his own businesses and investments
Posted: 27/02/19
The Bank of England has been asked by campaign groups Positive Money and ShareAction as to what steps its pension fund is taking to address climate risks
Posted: 27/02/19
The Church of England Pensions Board has said the International Council on Mining and Metals’ (ICMM) intentions to create new standards for tailing dams following the Vale dam disaster in Brazil last month is a “welcome step in the right direction”
Posted: 27/02/19
Interserve has agreed a deleveraging plan with the pension trustee as it looks to raise approximately £435.2m to cover its debts
Posted: 27/02/2019
Association of British Insurers policy adviser, long-term savings, Hetty Hughes discusses the regulation that superfunds will need to be subject to
Posted: 26/02/19
Electricity power generator, Drax Group, has reported a defined benefit pension surplus of £19m, at 31 December 2018 on an actuarial basis
Posted: 26/02/19
The Professional Trustee Standards Working Group (PTSWG) has published new standards for professional trustees which they will be expected to meet
Posted: 26/02/19
Pensions Minister Guy Opperman has reiterated the government’s commitment to reducing the automatic enrolment age limit from 22 to 18
Posted: 26/02/19
“Very few” workers are aware that there will be changes to automatic enrolment contribution levels in April, new research from the Department for Work and Pensions (DWP) has revealed.
It’s interim report - Automatic enrolment: qualitative research with newborn employers – found that, despite not being aware of the increase, workers reaction to the news “tended to be either neutral or positive”
It’s interim report - Automatic enrolment: qualitative research with newborn employers – found that, despite not being aware of the increase, workers reaction to the news “tended to be either neutral or positive”
Posted: 26/02/19
A no deal Brexit would be an “unforgiveable act of economic and social self-harm” and the UK should delay Brexit if that is the only alternative to a no deal, the Association of British Insurers is set to warn
Posted: 25/02/19
A majority (54 per cent) of adults in the UK are unaware that their pension typically goes to the person who is named on their pension policy, rather than their will, putting them at risk of leaving their money to the wrong people, new research has found
Posted: 25/02/19
Crédit Agricole has reached a conditional agreement to acquire Kas Bank for €188m (£163m) in order to greater export its expertise in servicing institutional investors, including pension funds, across European markets serviced by Crédit Agricole
Posted: 25/02/19
The Pensions Ombudsman (TPO) has upheld a complaint against MyCSP and the Cabinet Office in relation to the payment of interest on backdated injury benefit payments
Posted: 25/02/19
Pension savers attempting to cash in on their final salary schemes could lose out on up to 55 per cent of the market value of their pension due to low transfer value offers, according to Telegraph Money
Posted: 25/02/19
The upcoming minimum contribution rise for those that have been automatically enrolled into a pension scheme will cause “minimal” opt-outs, according to analysis by Royal London
Posted: 25/02/19
More than a third (36 per cent) of pension contributions by self-employed workers are made between 1 March and the end of the tax year, according to research by Hargreaves Lansdown
Posted: 25/02/19
Ireland and the UK have reached an agreement guaranteeing the continued payment of state pensions, child benefit and other social welfare payments if the UK leaves the EU without a deal
Posted: 22/02/19
The Investment Association (IA) will target companies paying newly-appointed directors pension contributions at rates above the majority of their workforce
Posted: 22/02/19
Independent MP Stephen Lloyd has tabled an Early Day Motion (EDM) calling on the government to reverse the changes to the pension credit system
Posted: 22/02/19
The latest mandates and news in brief from the past seven days
Posted: 22/02/19
A housing association with nearly 10,000 homes has been judged non-compliant by the Regulator of Social Housing (RSH) after an unnamed executive was granted access to their pension before it matured
Posted: 22/02/19
Public and Communication Services Union (PCS) is calling for a joint union campaign against the government’s decision to pause its valuation of the public pension services
Posted: 22/02/19
The Pearson Pension Plan has completed a further £500m buy-in with Legal & General Assurance Society (L&G)
Posted: 22/02/19
The National Health Service (NHS) paid £34.7m in tax charges in 2016/17 after thousands of its staff breached pension savings limits, according to data disclosed to the Financial Times by the NHS
Posted: 21/02/19
TPT Retirement Solutions has launched a pensions scheme specifically for the education sector, it has revealed
Posted: 21/02/19
BAE Systems has estimated that the recent High Court ruling on guaranteed minimum pension (GMP) equalisation will increase its pension costs by £114m
Posted: 21/02/19
The People's Pension (TPP) has announced plans to cut fees in a move that could result in people saving thousands of pounds more towards their retirement income
Posted: 21/02/19
The Barclays Group's pension surplus across all of its schemes more than doubled during 2018 to £1.5bn, its final results report has revealed
Posted: 21/02/19
The registration is now open for the inaugural European Pensions Conference, which comes from the team behind European Pensions and Pensions Age
Posted: 20/02/2019
Royal Bank of Scotland has estimated that the High Court ruling on guaranteed minimum pensions (GMP) equalisation will cost £102m, its annual report has revealed
Posted: 20/02/19
The Department for Work and Pensions (DWP) has launched a 'mid-life MOT web portal' to advise workers on their pensions and retirement planning
Posted: 20/02/19
More than half (54 per cent) of Brits expect they will have to keep earning in retirement, while 13 per cent believe they will have to work for the rest of their lives, a survey has found
Posted: 20/02/19
Lloyds Banking Group has revealed that its life and pensions sales increased by 45 per cent to £14.4bn during 2018, as its retirement business sector continued to grow
Posted: 20/02/19
LifeSight has become the first master trust to be granted authorisation by The Pensions Regulator (TPR).
A total of eight master trusts have applied for authorisation so far, with the remaining schemes granted authorisation expected to be announced in batches.
A total of eight master trusts have applied for authorisation so far, with the remaining schemes granted authorisation expected to be announced in batches.
Posted: 20/02/19
The number of new female claims for state pension benefits has fallen by 202,000 in one year following changes to the state pension age, new Department for Work and Pensions (DWP) figures have shown
Posted: 20/02/19
The government has once again defended its position to not change the surplus sharing arrangements of the Mineworkers’ Pension Scheme (MPS), but said it is open to holding cross-party talks with the trustees on the matter
Posted: 19/02/19
The Church of England Pensions Board has welcomed the decision from BHP to call for an independent body to improve the safety and operation of all dams, following the tragic failing of the Vale dam in Brumadinho, Brazil
Posted: 19/02/19
Now Pensions has responded to Labour MP Steve McCabe's criticism of the provider's member charges, saying that it was “clear to members” how much the charges were
Posted: 19/02/19
The Single Financial Guidance Body (SFGB) CEO, John Govett, has written to the Work and Pensions Committee outlining how the body will be developing its corporate strategy for the coming years
Posted: 19/02/19
Norfolk Pension Fund has won a class action against a US pharmaceuticals company, in which it was found liable for securities fraud
Posted: 19/02/2019
New court proceedings have started against the Pension Protection Fund (PPF), challenging its intended approach for calculating increases for savers affected by a previous European court ruling
Posted: 19/02/19
HMRC has lost a “key” court case on lifetime allowance pensions which could open it up to more claims from investors who have “accidentally” forgotten to stop contributing to their scheme
Posted: 18/02/19
The quality of advisers, including unregulated introducers, advisers in different countries from the member and advisers who have previous transgressions, is the greatest area for pension scam concern, according to new research from the Pension Scams Industry Group (PSIG)
Posted: 18/02/19
Lafarge UK Pension Plan has entered into a longevity swap with Munich Re, reducing what has been identified as the largest individual risk to the plan, it has revealed
Posted: 18/02/19
Work and Pensions Committee chair Frank Field has said he is “appalled” that BT has decided to appeal against the court judgments that ruled it could not change its pension scheme's indexation measure
Posted: 18/02/19
Guaranteed minimum pension (GMP) equalisation could leave over 100,000 workers who secured 'fixed protection' schemes with unexpected six-figure tax bills, a freedom of information request supplied to Royal London has revealed
Posted: 18/02/19
Staff working at Historic Royal Palaces (HRP) suspended their strike action on Saturday (16 February), after the GMB Union said it would consult its members on a new offer
Posted: 18/02/19
The latest news in brief and mandates from the past week
Posted: 15/02/19
Danish pension provider ATP, which recently announced its sale of UK pension fund Now Pensions, said the eight-year investment has led to unsatisfactory returns and losses for its members
Posted: 15/02/19
The Royal Bank of Scotland (RBS) paid £2bn into the RBS Group Pension Fund’s main scheme in October 2018 as part of new ring-fencing legislation, its final results report has revealed
Posted: 15/02/19
Registration for the Pensions Age Northern Conference is now open and will take place at the Leeds Marriott Hotel on Thursday 13 June 2019
Posted: 15/02/19
Pensions Minister Guy Opperman has reiterated the government’s commitment to the triple lock and reducing the level of poverty amongst pensioners
Posted: 15/02/19
Aegon has said it is now “benefitting” from the acquisition of BlackRock’s defined contribution business, taking its workplace pension assets under administration to £38bn
Posted: 15/02/19
The Pensions Regulator issued almost 22,000 compliance notices in the final quarter of 2018, it has revealed
Posted: 15/02/19
The public service union, Unison, has said it is “disturbing” that Thames Water has revealed it is in talks with unions over the future of its defined benefit pension schemes, which Unison claims were “strictly confidential”
Posted: 14/02/19
The take-up rate of defined benefit transfers remained stable at 30 per cent in the 12 months to June 2018, despite a decline in quotation rates, LCP has said
Posted: 14/02/19
Investment into patient capital could increase members’ defined contribution pots by 10 per cent at retirement, JLT Employee Benefits has said
Posted: 14/02/19
Pensioners are three times more likely to be targeted by fraudulent financial advisers, usually through the internet, than a cold calling phone scammer, according to data seen by Telegraph Money
Posted: 14/02/19
The Pensions Ombudsman has upheld a complaint against Prudential with regards to the company not providing information to a member of a pension scheme it administered
Posted: 14/02/19
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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