Public sector schemes facing £102bn gap in next 10 years

The sustainability of unfunded public sector pension schemes has been called into question by actuaries, with calculations pointing to a shortfall of £102bn in the next 10 years.

One in five people 'not bothering' with their pensions, survey shows


Experts have stressed the need for financial education after recent research found that more than a third of savers do not know how to access their pension pots and one in five people are “not bothering” with their pensions at all.

Electricity scheme triumphant in Aegon charges challenge


Aegon has agreed to lower its fund charges for defined contribution members of the Electricity North West Group of the Electricity Supply Pension Scheme, after trustees challenged the provider following a review of other players in the market.

Schemes still lagging on cyber security


A leading cyber-security expert says pension schemes are still behind the rest of the financial services sector in protecting members, despite increasing awareness and realism about the threat of online criminals.

Global Pensions Wrap: August 17 edition


From the Turkish army pension fund agreeing to take over British Steel, to Aussie supers facing potential legal action – the global headlines from around the FT this week.

TPR writes to 120 schemes about incorrect equalisation calculations

The Pensions Regulator has written to the trustees of 120 pension schemes administered by Prudential making them aware of potential pension payment errors.

Comment & Analysis

Time for a summer stocktake

Julian Mund

Julian Mund, the Pensions and Lifetime Savings Association's chief executive, reflects on 2019 so far – from master trust authorisation to impressive auto-enrolment figures. But despite some positive developments this year, Mr Mund notes that there is still a significant amount of uncertainty over what the next few months have in store for the pensions industry.

Multiple tax treatments create yet another gap

Angus Peters

Editorial: Never underestimate the power of well-organised workers providing a public service, even when faced with a chancellor whose conservative idols took on the trades unions.

Who will protect us from slow-footed regulators?

Jo Cumbo (teaser)

The FCA has finally proposed a ban on contingent charging, in all but exceptional cases, and put in place other measures to protect those looking to transfer. But all this should have come much sooner, argues columnist and Financial Times pensions correspondent Josephine Cumbo.

Videos & Podcasts

Tackling the 'long tail' of underperforming smaller schemes

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Podcast: The Pensions Regulator’s latest defined contribution survey revealed that only 4 per cent of micro schemes and 1 per cent of small schemes are meeting all of the watchdog’s governance standards. David Fairs, TPR's executive director for regulatory policy, analysis and advice, has previously described the "long tail" of underperforming smaller schemes as "unacceptable". In this podcast, Mr Fairs talks to Pensions Expert about what the survey's findings mean, and how the DC landscape might change. 

The future of trusteeship

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Podcast: Is there a big difference in governance standards between boards with a professional trustee and boards without? Should lay trustees have to demonstrate how they have acquired a minimum level of knowledge and understanding? And what can be done to increase diversity on boards? In this episode, Laura Andrikopoulos, head of governance consulting at Hymans Robertson, discusses some of the Pensions Regulator's 'Future of trusteeship and governance' consultation proposals, and what impact they might have on the industry.

What the firefighters' and judges' case means for pensions policy

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Podcast: The government was recently denied leave to appeal a Court of Appeal ruling that pension changes discriminated against younger firefighters and judges. What does this mean for government policy regarding public sector pensions? And how could the issue spill over into private sector pensions? In this episode, Rosalind Connor, partner at Arc Pensions Law, discusses the far-reaching implications of this landmark case.