Pensions sector suffers more than one data breach every week

The UK pensions sector suffers more than one data breach every week on average, new figures reveal, with some of the industry’s biggest names failing to protect savers’ sensitive information.

ONS indicates master trust transfer spike as experts demand opacity

Data crunch: A massive spike in defined contribution transfers could signal frantic consolidation in the master trust sector, as experts call for clearer data from the Office for National Statistics.

Formal superfunds authorisation could take 5 years

The Pensions Regulator anticipates that it could take five years for the government to put in place a statutory authorisation framework to oversee defined benefit superfunds, as it looks ahead to publishing specific guidance for trustees considering a transfer to the new vehicles.

Global Pensions Wrap: July edition

Getty Images

Did ESG risk ratings services flag up the dangers of Wirecard? Our monthly round-up of the best international pensions stories published by the FT’s outlets has the answer, and includes US trade union allegations that befit a Martin Scorsese film.

Scottish Widows looks to overcome long-term market challenges

Scottish Widows has announced plans to enhance its asset allocation strategy in response to lower projected returns and potentially long-lasting volatility as a result of the coronavirus crisis, following a strategic review conducted earlier this year.

Lockdown sees third of savers taking action on pensions

Data crunch: Seven million people, representing more than a third of savers, have taken action relating to their pensions during the coronavirus lockdown, with almost one in three reviewing their spending habits more often, according to analysis by Aviva.

Comment & Analysis

IGCs let savers down with impunity

Jo Cumbo (teaser)

The Financial Conduct Authority has confirmed consumer campaigners’ fears that independent governance committees are not always independent, nor always good at governing value for money. Yet the regulator is sparing providers’ blushes and even rewarding failing committees with new responsibilities, writes FT pensions correspondent and Pensions Expert columnist Josephine Cumbo.

How fiduciary management performance should really be assessed

Anne-Marie Gillon (teaser)

Trying to draw inferences about fiduciary managers by comparing their growth funds grossly misses the point – to outperform liabilities – of these mandates, argues IC Select’s Anne-Marie Gillon.

Pension funds face a dilemma if negative rates materialise

Pavan Bhardwaj (teaser)

The era of low interest rates has created challenges for trustees that could become acute and require redress if low interest rates become negative, writes Pavan Bhardwaj of Ross Trustees.

Videos & Podcasts

PPF could face new court case on benefits

Twitter podcast logo

Podcast: Ian Neale, director at Aries Insight, and Sara Protheroe, chief customer officer at the Pension Protection Fund, discuss the court ruling which determined that the PPF cap is age discrimination, the interim regime for superfunds, and the implications of the new insolvency bill for pension schemes.

'Crystal ball-gazing' makes ethical investment tough for trustees

Twitter podcast logo

Podcast: Irwin Mitchell’s pensions partner Penny Cogher and independent consultant Malcolm McLean join us to discuss innovative endgame deals, new insolvency laws, and some morally dubious LGPS investments. 

The days of ‘amateurish’ trusteeship are over

Twitter podcast logo

Podcast: The challenges posed by Covid-19 will accelerate the move towards professional trusteeship, according to Mercer’s chief actuary Charles Cowling, who argues that the responsibilities in this area post-coronavirus will be too much for lay trustees to handle alone. He and Catherine McFadyen, head of public sector actuarial, benefits and governance at Hymans Robertson, discuss LGPS funding, the impact of mortality rates, and give their predictions about the post-crisis world.