Latest articles from Maria Terekhova

Pensions Ombudsman set to cast interventional net wider

From the blog: Last week the Pensions Ombudsman said the agency would begin taking a more proactive approach to interventions, especially in appeals that can have broader implications for the pensions industry – a departure from its previously more placatory tone.

 

In the statement, the ombudsman said it would look to be more directly involved in cases that could affect the pensions sector as a whole. 

 

What catalysed the ombudsman into action was the Hughes v Royal London appeal earlier this year.

Europe sneezes, the world catches cold: ICI falls 7.7 points in a month

State Street

State Street’s monthly Investor Confidence Index for July fell by 7.7 points globally from June, driven primarily by a drop in the European index following recent turmoil in the region.

Select committees: Philip Green has 'moral duty' to help fix BHS pension deficit

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A joint report published by the Work and Pensions Committee and the Business, Innovation and Skills Committee found negligence caused BHS’s pensions deficit, and opened the possibility of increasing the Pensions Regulator’s powers. 

Plumbing scheme plans to seek guidance from Scottish courts as government drags feet on s75

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Plumbing Pensions’ prolonged consultation with a departing employer over its exit fee has brought to light fundamental problems with section 75 debt legislation as it currently stands for non-associated multi-employer schemes.

The looming DB skills gap: What can be done to slow the brain drain?

Any Other Business: Administration specialist Trafalgar House has urged the pensions industry to address the growing risk of an imminent defined benefit skills gap as schemes wind down and the industry fails to attract a new generation of talent.

 

CFOs pushed to increase focus on DB schemes

A new survey has found that 59 per cent of chief financial officers said they should become more involved with the management of their companies’ defined benefit schemes, following a steep post-Brexit DB deficit increase.

Property or pension: Where downsizing could pay off

A new report warns people planning to downsize to smaller properties and using the proceeds to fund their retirements that the resulting income will only be a fraction of a workplace pension.

Regulator's annual statement omits Brexit implications

The Pension Regulator’s 2015-2016 annual statement has pinpointed the main changes and risks the UK pension industry faces, but has not taken into account recent economic turmoil and its effect on the pensions landscape, industry experts have said.

Restructure or rebrand: Finmeccanica’s DC changes

Leonardo-Finmeccanica

The decision by FuturePlanner, Leonardo-Finmeccanica’s defined contribution pension scheme, to replace two gilt funds with annuity protection funds despite significant structural overlap, raises questions about the extent to which DC restructuring may just be rebranding.

Risk-averse DC members shy away from DGFs

At a Pensions Expert event this week, panellists debated how best to incorporate multi-asset strategies into defined benefit and defined contribution portfolios, agreeing that such strategies will become much more geared towards DC in the future.