All articles by Angus Peters – Page 24
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NewsTata could inject £520m into BSPS in RAA bid
Tata Steel has reportedly offered to contribute £520m to the British Steel Pension Scheme as part of a bid to reach a regulated apportionment arrangement with UK pension authorities.
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NewsExperts call for mandatory guidance as FCA targets advice take-up
The Financial Conduct Authority will prioritise retirement income provision within pensions in 2017-18, addressing perceived problems with consumers who do not take regulated financial advice, as some argue schemes should organise Pension Wise sessions by default.
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Labour's pension pledge card comes in for industry cost scrutiny
The Labour party has launched a pensioners’ pledge card, promising to extend the triple lock until 2025, compensate some of those affected by increases in women’s state pension age, and to protect the pensions of UK citizens overseas.
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NewsNo changes to Johnston Press equalisation despite missing documents
A legal dispute involving trustees of the Johnston Press Pension Plan about the equalisation of retirement ages has been put to bed by the Scottish Court of Session, using a quirk of law known as the “presumption of regularity”.
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FeaturesPost Office surplus raises union affordability complaints
The Post Office section of the Royal Mail Pension Plan remains in surplus, its latest funding update shows, just weeks after it was closed to future accrual amid union consternation.
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Employee pension preference could brighten the DC picture
Weighting an employee benefits package towards pension contributions can make a role more attractive to high-quality candidates, a new report has found, showing residual interest in retirement saving among the defined contribution generations.
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FeaturesInvensys attempts to reconcile GMPs delayed by HMRC
Slow responses from HM Revenue & Customs are delaying efforts by the Invensys Pension Scheme to reconcile guaranteed minimum pensions, the scheme’s trustees have told members.
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NewsCourt of Appeal lessens burden on FDR in rule change dispute
A High Court judgment on the method for increasing pension payments where a power of amendment was improperly applied has been overturned by the Court of Appeal, lessening the burden on the corporate sponsor.
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Lawyer survey highlights lack of clearance sought from regulator
Just 21 per cent of pensions and restructuring lawyers normally suggest that clients go through the Pensions Regulator’s clearing process, reflecting a similar decrease in clearance applications submitted.
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NewsArcadia agrees shorter recovery plans as Green feels pressure
Arcadia Group has agreed to increase its scheduled contributions to its two pension schemes, a sign that public pressure and 'naming and shaming' may be having some impact.
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NewsIndustry unconvinced by MPs' funder of last resort concerns
Amendments to the pension schemes bill requiring member representation on mastertrust boards and a funder of last resort have been rejected by the House of Commons, amid concern from opposition politicians about a lack of oversight.
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FeaturesCould hybrids solve the pensions adequacy problem?
One has to feel sorry for members of Generation X. Successive studies have shown that unlike their millennial counterparts, whose quality of retirement it is entirely within the reach of policymakers to decide, defined contribution has failed Gen X-ers.
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FeaturesTaylor Wimpey builds synthetic equities to tackle volatility
The pension scheme of housebuilder Taylor Wimpey has undertaken a widespread derisking programme, strengthening existing hedges while converting physical equity investments into a synthetic, volatility-dampening exposure.
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FeaturesJohn Laing targets speedy return to full funding
The John Laing Pension Fund has agreed a recovery plan worth £171m to be paid over seven years by its sponsor, infrastructure investor John Laing, following an actuarial valuation.
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Better trusteeship key to any future DB plans
Efforts to improve the level of experience and competence of trustee boards must not come at the expense of diversity, politicians have warned, as dealing with groupthink remains a key concern in defined benefit pensions.
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Delays in transfer value process threaten member outcomes
The Pensions Regulator has been asked to look at streamlining the process for providing cash equivalent transfer values, after complaints from advisers that delays in schemes providing necessary information meant members were missing out.
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CDC could refocus industry on purposeful finance
Refocusing the industry on the purpose of finance could deliver huge benefits to UK pensions, a new academic paper has suggested, as calls were lodged for the resurrection of collective defined contribution.
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NICs U-turn puts pension tax back on the table
Chancellor Philip Hammond has cancelled plans to increase class 4 national insurance contributions for the self-employed, creating a £2bn shortfall in the nation’s accounts between 2018 and 2022, which many fear will be plugged by changes to pension tax relief.
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Monitoring key as risk creeps into managers’ direct lending strategies
Increasingly complex models of unitranche loan agreements are being brought to market by managers offering direct lending products, a research paper has found, demanding careful governance from pension scheme investors.
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NewsHow would Scottish independence impact schemes?
Scotland's first minister Nicola Sturgeon will seek a second referendum on Scottish independence, to be held by spring of 2019, triggering concerns about the challenges a Yes vote would pose to UK pensions.