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New powers in Pension Schemes Act could cause bankruptcies

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Podcast: New criminal provisions in the Pension Schemes Act are so broadly drafted that they could strangle legitimate business activity, potentially resulting in unnecessary bankruptcies. So says Arc Pensions Law partner Jane Kola, who, along with Society of Pension Professionals president James Riley, warn about the potentially dire consequences and call for more clarity from the regulator.

How schemes can navigate the post-Covid recovery

Defined benefit schemes should use the post-Covid recovery to conduct a thorough postmortem of the effects of 2020’s events on their portfolios and strategies, according to Barnett Waddingham.

‘Challenging’ 2020 forces 80% of DB schemes to reassess portfolios

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On the go: Eighty per cent of defined benefit pension schemes plan to reassess their investment portfolios after the events of 2020 put returns in doubt, according to research by the Pensions Management Institute and River and Mercantile.

Merseyside to shift to alternatives in further climate push

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A significant improvement in its funding level has given Merseyside Pension Fund the opportunity to review its asset allocations in favour of ESG investments.

Clarity on dashboards, but delays taint Pension Schemes Act

The government fought off opposition amendments to the Pension Schemes Act in the House of Lords on Tuesday, keeping its dashboards options open — but experts have warned that many of the act’s more substantive changes could be delayed until 2022.

Biden and EU to act as ESG ‘catalyst’ for UK schemes

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The confluence of Joe Biden’s inauguration as US president this week and a new raft of rules from the EU in March will serve as a catalyst for the development of environmental, social and governance standards, experts have said.

Minnows make land grab from Big Four as audit fees set to rise

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The cosy oligarchy of the Big Four accounting firms — PwC, Deloitte, EY and KPMG — is set to be shaken up in 2021 as mid-tier companies eye their bread-and-butter work of pension scheme auditing.

Aegon commits to have DC default funds carbon zero by 2050

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On the go: Aegon intends to achieve net-zero carbon emissions across its defined contribution default pension fund ranges by 2050, in response to the threat posed by climate change.

Schemes and managers join forces to improve stewardship

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On the go: The Investment Association and the Pensions and Lifetime Savings Association have launched a steering group to examine how stewardship can be better integrated into the investment process.

Barclays integrates ESG into £1.3bn sustainable growth fund

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On the go: The Barclays Bank UK Retirement Fund has announced the integration of environmental, social and governance factors, as well as climate risk, into its diversified Multi-asset Growth Fund.