Law & RegulationRSS

NHS staff offered ‘partial retirement’ with scheme eligibility expanded

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Members of the NHS Pension Scheme will have the option of ‘partial retirement’ under proposed government reforms aimed at stemming the flow of health workers leaving the NHS.

‘Lower leverage is here to stay’: industry responds to LDI inquiry

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The use of leverage in liability-driven investments should be reassessed, according to respondents to a Work and Pensions Committee inquiry.

FCA: Liquidity buffers are a ‘necessary but partial solution’

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On the go: The Financial Conduct Authority has urged managers of liability-driven investment funds to learn the lessons of the autumn liquidity crisis, claiming that liquidity buffers represent only part of the solution to future volatility.

FCA bans third-party dashboard consumer charges

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The Financial Conduct Authority will prohibit third parties from charging customers for services linked to pensions dashboards as part of its regulatory framework for the initiative.

OECD: Countries should pursue pension reforms despite uncertainty

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On the go: Policymakers should pursue pension reforms despite the current economic uncertainty, as delays would put at risk the well-being of current and future pensioners, the OECD has warned.

TPR investment lead mulls role of ‘groupthink’ in LDI crisis

Volatility

The Pensions Regulator’s lead investment consultant, Fred Berry, has suggested that industry ‘groupthink’ may have played a part in creating the conditions for the liquidity crisis that engulfed defined benefit pension schemes in the autumn.

TPR expects improved LDI liquidity buffers to be maintained

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The Pensions Regulator has set out its expectation that liquidity buffers be maintained across pooled and leveraged liability-driven investment mandates, going beyond the demands of Irish and Luxembourgish regulators.

LDI pooled funds determined Bank of England intervention

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The Bank of England’s bond market intervention was determined by the lack of ability of liability-driven investment pooled funds to receive the liquidity needed from schemes to rebalance in a short period of time, Andrew Bailey has revealed.

One third of self-employed trial Nest members have ‘zero pots’

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On the go: Around a third of self-employed Nest members in a Nest Insight savings trial have never made a contribution to their pension pot.

Retirement standards compromised by changes in pensions system

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On the go: Changes made to the UK pensions system are positive for sustainability but are leaving savers’ retirement standards compromised.