DB & DeriskingRSS

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.

One in five schemes considering superfunds

News On the Go

On the go: The Pensions Regulator’s interim guidance for consolidators has sparked a surge of interest by pension schemes, with one in five considering superfunds as an option for their endgame, according to a survey by Willis Towers Watson.

Lords commit TPR to preserving open DB schemes

The House of Lords has amended the pension schemes bill to ensure that open defined benefit schemes are not forced to derisk their investments in the same way as closed plans, in one of four defeats suffered by the government.

Data poses difficulties to Surrey admin outsourcers

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A London borough branch of the Local Government Pension Scheme is to bring its administration back in-house from 2021, as current outsourced provider Surrey County Council continues to struggle with legacy data issues across its client base.

Pension superfunds could hinder insurers’ businesses

News On the Go

On the go: UK pension superfunds could encroach on life insurers’ bulk purchase annuity market, as the new consolidation vehicles may present employers with a more affordable alternative, according to Fitch Ratings.

Willis Pension Scheme enters £1bn longevity swap

News On the Go

On the go: The Willis Pension Scheme has entered into a £1bn longevity swap with Munich Re, covering around 3,500 members.

Peers push for restriction on commercial dashboards

News On the Go

On the go: Labour peers are pushing for an amendment to the pension schemes bill that will see a 12-month restriction placed on providers looking to operate their own pensions dashboards.

Insolvency bill retains potential to damage DB schemes

Government attempts to mitigate the risk its new insolvency legislation poses to defined benefit pension schemes have only been partly successful, and company moratoriums could still see schemes lose out on valuable contributions, experts have said.

Widespread industry support for regulator’s Covid-19 response

News On the Go

On the go: Industry professionals are “overwhelmingly positive” about the Pensions Regulator’s response to Covid-19, though they remain pessimistic about future prospects, according to a report from the Pensions Management Institute.

How can schemes make ESG compliance meaningful?

Analysis: With three months until the deadline for publication of new implementation statements on sustainability risks, how can engaged trustees show members the value of their work?