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The Weekly Wrap: December 8 edition

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A round-up of the pensions industry stories published across the FT Group – from the Pensions Regulator asking for powers to screen phone records, to European pension funds fretting over protectionism and the unwinding of quantitative easing.

SRD II: A blockbuster sequel

Hans-Christoph Hirt

From the blog: It is often said that a sequel is never as good as the original. While that might be true for some films, the new European Shareholder Rights Directive is a welcome revision of 2007’s first instalment.

The goal of the original Shareholder Rights Directive was to give shareholders consistent rights at annual meetings and when voting.

The amended version, published in May 2017 and due to be implemented in EU member states in June 2019, takes this further. With less than a year to go, UK pension funds should be assessing the upcoming changes and considering how the upgrade will impact their role as stewards. 

What to expect from master trust supervision

Jacqui Reid

From the blog: An unprecedented number of employers and trustees are looking at transfers of employees’ defined contribution pension benefits into master trusts.

Furthermore, employers are increasingly opting for a master trust solution for future pension provision as a way of reducing scheme governance costs. 

At the same time, we are also seeing trustees, in conjunction with their employers, either looking at master trusts as a way of managing their deferred DC population, or directing retiring members who wish to pursue drawdown outside the scheme towards master trusts.   

The Weekly Wrap: November 25 edition

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A round-up of the pensions industry stories published across the FT Group – from another review of the Universities Superannuation Scheme's funding position, to the Local Government Pension Scheme halting transfers.

Why fiduciary management needs total transparency

Richard Dowell

From the blog: The Competition and Markets Authority has taken a few small steps, but one giant leap is needed to improve outcomes for UK pension funds.

The CMA’s provisional decision report proposed much-needed remedies to the UK’s investment consulting and fiduciary management industry, and were a clear step in the right direction.

There is, however, an opportunity for the CMA to make a bigger impact and help the industry take a giant leap forward.

Recommendations to introduce compulsory tendering, fiduciary management performance standards and enhanced trustee guidance have certainly made the industry sit up and think.

With a few tweaks to the proposals, the positive impact of the remedies should be widely felt.

The Weekly Wrap: November 17 edition

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A round-up of the pensions industry stories published across the FT Group – from a Californian fund dropping private prison companies, to drawdown savers at risk of running out of money.

What can we learn from the Barnardo's outcome?

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Podcast: Earlier this month, the Supreme Court ruled that Barnardo’s cannot change the inflation protection it provides to members of its defined benefit scheme from the retail price index to the consumer price index. So, what does the result mean for other DB pension funds and their sponsors? Matthew de Ferrars, pensions partner at law firm Pinsent Masons, and Faye Jarvis, pensions partner at law firm Hogan Lovells, discuss what trustees can learn from the recent Barnardo's outcome.