The Society of Pension Professionals’ new president, Steve Hitchiner, has demanded greater focus on outcomes for defined contribution scheme members.

Aegon and LCP have issued stern rebukes of the Financial Reporting Council’s proposals for calculating pensions projections for the dashboards, with Aegon arguing that the FRC’s preferred methodology would “damage the whole intention behind dashboards”.

This week – Annuities make a slow comeback, trustees complain TPR’s new single code is causing them anxiety, regulators decide there should be a ‘consistent and structured’ approach to value for money, and a judge invokes a precedent from 1843 in a lawsuit against the USS.

On the go: Panellists at the Pensions and Lifetime Savings Association’s investment conference have called for a revised framework for at-retirement guidance to allow trustees to give more support to members considering their options.

On the go: The civil service and related public sector areas are set to vote on industrial action over pay, pensions and redundancy terms this autumn. 

Uncertainty over the forthcoming changes in the Pensions Regulator’s new single code of practice is causing anxiety among trustees, as they expect it to have a huge impact on their time and resources.

The Pensions Regulator and the Financial Conduct Authority are to push for a “consistent and structured” approach in the proposed new value for money framework governing defined contribution schemes, shifting the focus away from costs and towards “long-term value for pension savers”.

A lawsuit against Universities Superannuation Scheme directors alleging climate inaction and breaches of duty has failed on a technicality dating back to 1843, though the judge in the case did find that beneficiaries of a pension fund corporation do sometimes have the right to sue directors.

ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including investment in sustainable private credit by the £4.3bn Environment Agency Pension Fund, nearly three-quarters of schemes set to have net zero plans, and a pair of ESG guides issued for trustees.