The High Court has ruled that defined benefit schemes are not subject to a time limit on their ability to recoup pension overpayments. Such a recovery must be carried out equitably by altering future payments, however.
Hertfordshire bungles scheme actuarial reports
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April 23, 2018
More than one hundred academies and colleges participating in the Hertfordshire County Council Pension Fund have been sent erroneous actuarial reports. These were subsequently used in the preparation of their own financial accounts.
Has the industry kept its promise on at-retirement innovation?
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April 23, 2018
Analysis: When the Department for Work and Pensions allowed the industry to block mastertrust Nest from entering the drawdown market in 2017, it did so with a proviso: the industry had to drive innovation itself.
Should pension schemes become more litigious?
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April 23, 2018
In 2009, the Royal Bank of Scotland admitted that it had incurred billions of dollars in losses in relation to its subprime exposures and acquisition of Dutch bank ABN Amro.
Plymouth & South West Co-op introduces illiquids and cuts DGFs
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April 20, 2018
The Plymouth & South West Co-operative Society pension fund is decreasing its diversified growth fund exposure and introducing a new allocation to illiquid credit.
Chatbots, GDPR and scams: Is admin in for a sea change?
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April 19, 2018
Technological advances could mean pensions administration is about to become a lot sexier, but while cyber security evolves humans still need education if the industry is to protect pensions data and money.
Comment & Analysis
Prepare for the best
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April 23, 2018
Editorial: Humans are not naturally suited to being actuaries, it seems.
PLSA: Signpost savers towards default pathways
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April 18, 2018
Default decumulation options are needed and can work with freedom and choice, says the Pensions and Lifetime Savings Association’s George Currie.
Admit mistakes and encourage discussion to prevent repetition
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April 18, 2018
Sean Burnard from Law Debenture Pension Trustees explains how creating a learning culture, seeking diverse opinions and carrying out premortems can help trustees avoid making new mistakes or repeating old ones.
Videos & Podcasts
How will the UK's first pension superfund work?
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April 17, 2018
Podcast: The UK's first superfund was announced in March, a day after the government encouraged the creation of commercial consolidators in its long-awaited white paper on the defined benefit sector. Alan Rubenstein, chief executive of The Pension SuperFund, discusses how the vehicle will work, and when it might absorb its first DB scheme.
Mastertrust draft code sets out TPR expectations
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March 27, 2018
Video: The Pensions Regulator will support mastertrusts with a new code, which is subject to consultation, setting out what will be required under the new regime due to come into force in October. Kim Brown, head of master trust authorisation and supervision, explains what the regulator will be expecting mastertrusts to demonstrate.
Do savers want CDC?
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March 26, 2018
Podcast: As the government edges closer towards allowing the introduction of collective defined contribution schemes, Kevin Wesbroom, senior partner at consultancy Aon, and Will Aitken, director at consultancy Deloitte, go head to head over CDC.