Three-quarters of hybrid scheme trustees spend more time on their defined benefit offerings than defined contribution, sparking concerns that they are failing to respond to the shift to DC.
Employers have been encouraged to assess whether they can switch from the retail prices index to the consumer price index to reduce their liabilities, after a High Court ruling last week.
Any other business: The western world is divided on the power of regulation to move it forward. For UK pension schemes, early, frank engagement with the Pensions Regulator is seen as key to a smooth ride.
Trustees and employers offering money purchase benefits may face increased member communication and valuation requirements as a result of the government’s new statutory definition.
The pensions ombudsman has said it should be publishing determinations on pension liberation cases within the next few weeks, with trustees hoping the reports will help them on difficult transfer decisions.
North East Scotland Pension Fund plans to establish a dedicated governance team – incorporating communication responsibilities – to deal with the increased workload produced by local government pension scheme reforms.
The number of FTSE 250 executives taking taxable cash supplements instead of pensions has risen, according to a survey, as the way high-earners receive benefits has changed in light of lower lifetime and annual allowance limits.
News analysis: The Charity Finance Group has called for a review to the regulations surrounding multi-employer pension schemes, claiming they can threaten charities’ ability to raise donations.
The Environment Agency Pension Fund is working on a redesign of its website as part of an ongoing communications drive to boost transparency and engagement among its members.
Local authority schemes have rejected government proposals to mandate pooling assets into a passively managed common investment vehicle, but did see benefits in other suggestions put forward.
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