Doctors are up in arms over a long history of serious pensions admin shortcomings in the lumbering NHS Pension Scheme, some of which are still surfacing.
DB & Derisking
TPR eyes pivot to ‘Generation DC’
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October 16, 2020
On the go: The Pensions Regulator has set out long-term priorities for the next 15 years, envisaging a shift in focus towards ensuring the financial wellbeing of defined contribution savers.
BT Pension Scheme sets ambitious 2035 net-zero goal
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October 16, 2020
The UK’s largest private sector pension scheme now aims to be one of the greenest, with a new goal to achieve net-zero greenhouse gas emissions by 2035 across its £55bn portfolio.
Clara raises capital from Canadian pension-owned reinsurer
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October 16, 2020
On the go: Defined benefit superfund-in-waiting Clara-Pensions has attracted new investment from Wilton Re, as the pensions industry waits for the Pensions Regulator to give either of the two commercial consolidators its blessing.
DC contributions too small to allow for sustainable retirements
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October 13, 2020
Stagnant incomes, rising wealth inherited later in life, and the relative poverty of defined contribution schemes compared with older defined benefit schemes are all factors that threaten the sustainability of retirement income, according to speakers at the Pensions and Lifetime Savings Association’s annual conference.
One in five teachers may have incorrect pension entitlements
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October 9, 2020
One in five teachers may be at risk of receiving incorrect information about their pension entitlements, with discrepancies also likely to be found in other decentralised public sector pension schemes with multiple employers.
PPF eyes deteriorating credit ratings among DB sponsors
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October 9, 2020
Deteriorating defined benefit sponsor health has led to a three-fold increase in the level of liabilities belonging to schemes that could end up in the Pension Protection Fund over the next 18 months.
Charity participants in LGPS face going concern issues
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October 9, 2020
An Institute of Chartered Accountants of Scotland report laying out guidance for charity trustees on going concern has prompted a second look at their participation in the Local Government Pension Scheme, with experts warning that many could face crippling debt payments as they run out of members.
Timms warns transfer rules ‘must be changed’
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October 9, 2020
On the go: Stephen Timms, chair of the Work and Pensions Committee, has warned that transfer rules are not working and must be changed if the industry is to put a stop to pension scams.
PPF reserves drop 16% due to pandemic
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October 9, 2020
On the go: The Pension Protection Fund saw the value of its reserves decrease by 16 per cent in 2019-20 due to the impact of the markets’ reaction to the Covid-19 pandemic on its return-seeking assets.