Schemes must play part in war on scams

Source: TPR and FCA joint scam campaign

Pension schemes and providers have been urged to increase member awareness of scam tactics and tighten data security, amid the revelation that average losses from fraudulent and inappropriate inducements eclipsed the size of the average pension pot in the UK.

Lookers merges defined benefit schemes

UK motor resale company Lookers has amalgamated two of its defined benefit pension schemes, as experts highlight the improved efficiency and cost savings associated with mergers.

Mid-market direct lending approach 'too constraining', WTW says

Mid-market direct lending is “now demonstrating signs of material deterioration in credit underwriting and future return potential”, according to a report by consultancy Willis Towers Watson, which is instead recommending its clients invest in debt for US real estate and UK commercial real estate.

SES Water cites Ofwat price review in proposed scheme closure

SES Water, formerly known as Sutton and East Surrey Water, has opened a consultation with members on the closure of its defined benefit section to future accrual, citing efficiencies demanded by water regulator Ofwat.

The Weekly Wrap: August 10 edition

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A round-up of the pensions news stories published across the FT Group this week, from waning life expectancy potentially adding up to £400m in exceptional profit for Legal & General, to the possibility of pensions for part-time workers in Japan.

DB transfers heading into costly drawdown products, research finds

Defined benefit members transferring out of their scheme to take advantage of freedom and choice may be wasting money on fees for flexibilities they are unlikely to use, according to a new report.

Comment & Analysis

DC investment design: How to ensure good member outcomes

Andrew Brown

Columbia Threadneedle’s Andrew Brown explains how trustees can help to ensure good outcomes for DC members by regularly reviewing the suitability of the default, ensuring adequate investment governance and establishing measurable performance objectives.

PPF: Our new approach to company voluntary arrangements

Malcolm Weir

Malcolm Weir, director of restructuring and insolvency at the Pension Protection Fund, explains how the lifeboat’s new CVA guidance will assist employers and their advisers when putting together a proposal.

Mechanical bulls: the dangers of index capitalism

Stefan Lundbergh

If the 1980s saw the world move into money manager capitalism, today’s markets are evidence of a new era of index capitalism, whose economic consequences could be severe, write Cardano’s Stefan Lundbergh and the University of Groningen's Dirk Bezemer and Joeri Schasfoort.

Videos & Podcasts

DB transfers: What trustees and employers should consider

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Podcast: Since the introduction of freedom and choice in 2015, more and more savers have showed an interest in defined benefit transfers. In this episode, Ben Roe, senior partner and head of member options at Aon, and Gary Evans, board director at the Pensions and Administration Standards Association and chair of Pasa's Transfers Working Group, discuss the responsibilities of trustees and employers when it comes to DB transfers, and how they can support members in making the right decisions. 

PPF remains strong despite record liability intake

Podcast: The Pension Protection Fund's latest annual report shows it has weathered a record influx of defined benefit liabilities without much trouble. Chief financial officer Andy McKinnon discusses future challenges for the lifeboat amid a changing pensions landscape.

Should the FCA have brought in a charge cap for drawdown?

Podcast: Last month, the Financial Conduct Authority released its long-awaited Retirement Outcomes Review. Daniela Silcock, head of policy research at the Pensions Policy Institute, and Nathan Long, senior pension analyst at Hargreaves Lansdown, discuss the FCA's consultation, including its decision not to impose a charge cap for drawdown products.

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