Regulators propose DC-wide ‘value for money’ framework

Dreamstime

The Pensions Regulator and the Financial Conduct Authority will be forcing defined contribution schemes to disclose more data around their investment performance, scheme oversight, and costs and charges, as they unveil a discussion paper looking at creating an “holistic framework” for assessing value for money in this sector.

Weekly Roundup: A hugely complex mess

Pixabay

This week – ABI urges ‘rethink’ over normal minimum pension age hike, SPP warns dashboards may only provide illustrative figures, PLSA highlights discord over climate reporting rules, and Kent Pension Fund breaches LGPS regulations.

Inflation jump poses ‘a real challenge’ for pension schemes

Bank of England 2021 (teaser)

The surge in inflation in August – the highest since records began in 1997 – could prove “a real challenge” for pension schemes, experts have warned, especially if it proves not to be a transitory phenomenon.

Pension Awareness Day: Savers still in the dark amid Covid-19 downfall

Dreamstime

A roundup of the news marking the 2021 Pension Awareness Day, with £5.3bn lost from over-fifties pension pots during the pandemic, retirement security in the UK declining for the fourth consecutive year, and a new guide launched to help employers and schemes to support members’ financial wellbeing.

ABI calls for govt to 'rethink' normal minimum pension age hike

Getty Images

The Association of British Insurers has called on the government to scrap its “complicated”, “arbitrary” and “confusing” plans to raise the normal minimum pension age “until something fit for purpose” has been developed.

Complexities hamper social impact bonds’ true potential

Sport England

Despite the launch of the UK’s sovereign green bond dominating the socially conscious fixed income discourse, there is still room for social impact bonds in schemes’ portfolios.

Comment

The last great risk facing defined benefit pension schemes

Jos Vermeulen

Insight Investment head of solution design Jos Vermeulen argues that longevity swaps are an appealing solution for schemes, but further standardisation is required to make these transactions more popular and cost-effective.

Pension Awareness Week: It’s time to wake up the ‘sleepwalkers’

Renny Biggins

As Pension Awareness Week unfolds, The Investing and Saving Alliance’s head of retirement, Renny Biggins, warns that schemes need to increase engagement with their members as delays to auto-enrolment changes are to be expected.

The future of DC schemes: Go big and go green

Dianne Day

Independent Trustee Services client director Dianne Day details the drivers behind consolidation in the defined contribution market, and the role environmental, social and governance investing is playing in this area.

Videos & Podcasts

Trustees need to address sponsor covenant climate risk

Podcasts

Podcast: Lincoln Pensions managing director Michael Bushnell explains how scheme trustees can effectively address climate change risk in their sponsor covenant analysis.

Industry ‘irritation’ with TPR’s code of practice could have been avoided

Podcasts

Podcast: Tim Middleton, director of policy and external affairs at the Pensions Management Institute, and Steven Taylor, partner at LCP, discuss the Pensions Regulator’s new code of practice, collective defined contribution schemes, and flexibility within the defined benefit universe.

Making ESG work for your scheme

Making ESG work for your scheme

Video: With ESG and climate change now required by law to be part of schemes’ investment principles, how can trustees make sure they are implementing these principles effectively? Cardano client director Helen Prior discusses implementation, integration and impact with regard to ESG and sustainability.

CPD

Ten becomes one: First phase of TPR’s single code

iStock

CPD: Sackers partner Georgina Jones explains the changes brought by the Pensions Regulator’s new code of practice, and what trustees should consider when adapting their practices to the new rules

Using GMP conversion to achieve equality

iStock

PASA’s Alasdair Mayes details how the new guaranteed minimum pension conversion guidance can be used by pension schemes, and how trustees and administrators can decide if this is the best course of action to equalise contracted-out benefits.

GMP equalisation and historic transfers: Putting Lloyds into practice

Fotoware

Pasa's Duncan Buchanan explains how trustees can tackle guaranteed minimum pension equalisation past transfers, and what the last judgment on the Lloyds case means for pension schemes.