More than a third of schemes ignore own trustee diversity data

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More than one-third of the pension schemes that collect trustee diversity data have no intention of using it, the Pensions Regulator has found, as it publishes an action plan to boost boards’ diversity and inclusion.

Union attacks ‘unacceptable’ hike to Railways pension contributions

Chris Ratcliffe/Bloomberg

The National Union of Rail, Maritime and Transport Workers has warned that changes to the Railways Pension Scheme’s investment strategy, following a Pensions Regulator intervention, would result in an “unaffordable and indeed unacceptable” 7.6 per cent hike in members’ contributions.

DC charge cap performance fees scrapped to spur investment

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Chancellor of the exchequer Kwasi Kwarteng has announced that performance fees will be removed from the charge cap applied to defined contribution schemes, in a bid to spur pension scheme investment in science and technology.

Govt to fix NHS inflation link and mandate pensions recycling

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The government will be correcting pension rules regarding inflation and will mandate NHS trusts to offer pensions recycling by 2023, as part of its bid to prevent punitive pension rules from encouraging workers to leave the NHS.

TPR approached a ‘number of times’ by capital-backed consolidators

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The Pensions Regulator has been approached a “number of times” by companies working on capital-backed consolidation models, according to Charles Counsell, who has called for superfund legislation.

Comment

Digital pensions? If you build it, they will come

Graeme Riddoch

Mantle head of proposition Graeme Riddoch explains why schemes should be looking to develop pension app solutions for their members, as it boosts engagement and reduces admin costs.

Why organisations should think radically about green pensions

Ben Pollard

Cushon chief executive Ben Pollard issues a call to arms to the industry on thinking about green pensions.

Impact of the cost of living crisis on auto-enrolment

Renny Biggins

The Investing and Saving Alliance’s Renny Biggins is calling on employers to help staff consider all options before stopping pension contributions, as the cost of living crisis takes a toll on savers’ finances.

Videos & Podcasts

Webb: Opperman achieved but ‘got sidetracked easily’

Podcasts

Podcast: LCP partner Sir Steve Webb gives his view on Guy Opperman’s time as pensions minister, and discusses under-saving in defined contribution and a local council investment scandal.

Pension tax changes needed to save NHS from ‘rock bottom’

Podcasts

Podcast: Vishal Sharma, pensions committee chair at the British Medical Association, is joined by Mark Bondi, council member at the Society of Pension Professionals and senior technical consultant at Capita, to discuss the NHS, the High Court’s retail price index decision, and pension priorities for new prime minister Liz Truss.

Trustees struggling to guide members on inflation benefits

Podcasts

Podcast: LCP partner Laura Amin and Hymans Robertson partner Patrick Bloomfield discuss benefits’ inflation calculation and advice, concerns about defined benefit funding, and the women’s state pension age investigation.

CPD

Schemes face a tsunami of new regulations in October

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CPD: The extreme temperatures of the scorching summer of 2022 are a timely reminder why climate change regulation is rising up the agenda for trustees, which will be subject to a plethora of new duties from October, explains Stephanie Hawthorne.

Gender pensions gap: Where are we now?

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CPD: Hymans Robertson partner Kathryn Fleming details the reasons for the existing gender pensions gap and what solutions could be brought forward to solve the issue.

New DB funding rules considered overly prescriptive

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CPD: Stephanie Hawthorne gets to grips with the detail on the Department for Work and Pensions’ latest consultation on defined benefit funding rules consultation, and what it means for trustees, sponsors and their members.