All articles by Angus Peters – Page 7
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KPMG pensions spin-off targets industry modernisation
On the go: KPMG’s former pensions advisory business has relaunched as Isio following its sale to a private equity backer, with the new company looking to grow its consolidation offering and improve the industry’s use of technology.
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NewsRegulator’s ESG letter ‘as vague as trustees’ statements’
The Pensions Regulator’s response to schemes not publishing newly required statements of investment principles has been lambasted by the non-profit that first uncovered the extent of non-compliance.
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Schemes unable to handle member information requests
On the go: Testing of pension schemes and providers' ability to meet savers' requests for information about their benefits has uncovered a litany of failings.
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Barnet sacks Capita and joins LGPS shared arrangement
The London Borough of Barnet has ended its contract with outsourcer Capita as the administrator of its pension scheme after a litany of breaches and scandals while it oversaw the Local Government Pension Scheme section.
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BAE to issue debt to fund persistent deficit
On the go: Defence and aerospace conglomerate BAE Systems is to make a debt-funded £1bn payment into its main defined benefit pensions scheme, dramatically front-loading its recovery plan.
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TPR: Hundreds of employers targeted over dividend payments
On the go: The Pensions Regulator has written to “hundreds” of defined benefit trustees over disproportionately large dividend payments made by their sponsoring employers, as the watchdog said its interventions are starting to yield results.
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Co-op buys in further £1bn of liabilities
On the go: Retail group The Co-op has secured the pensions of 7,000 defined benefit members in a bulk annuity transaction with the Pension Insurance Corporation.
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Hertfordshire LGPS employer agreement sidesteps cessation debt
A housing association has avoided a potentially crippling £3m cessation debt to the Local Government Pension Scheme via an innovative agreement with the scheme’s local administering authority.
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Increased trustee workload to unleash wave of DC consolidation
On the go: One in three trust-based defined contribution arrangements expects to transfer members into a master trust over the next five years, with stakeholders citing the drain on time and resources of running an own-trust solution.
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Talks fail to head off USS strikes
On the go: University employers have stated they are unwilling to meet the demands of a trade union ahead of strikes over the Universities Superannuation Scheme beginning this week.
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PMI launches accreditation course for professional trustees
On the go: The Pensions Management Institute has launched its course for professional trustees seeking accreditation, after an apparent split with the Association of Professional Pension Trustees.
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Trustees call for radical softening of DB promises
On the go: The government should accept that not all defined benefit pensions are affordable and begin taking radical steps to allow employers to flex their promises, according to two prominent professional trustees.
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Govt maintains earnings trigger despite industry criticism
On the go: The government has opted to maintain the earnings trigger for automatic enrolment at £10,000 for 2020-21, despite long-held industry concerns that the current level is limiting pensions coverage among underprivileged demographics.
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Accreditation system for professional trustees launched
On the go: Professional trustees will be able to sit exams in order to gain accreditation in their field from April this year, the Association of Professional Pension Trustees announced on Monday.
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TPR seeks to extend supervision to select administrators
The Pensions Regulator will attempt to build one-to-one relationships with pensions administrators it considers to be of critical importance, in a voluntary extension of the supervision regime it has already introduced for the largest schemes in the UK.
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NewsWhat are the risks of flouting ESG statement rules?
Analysis: A report into trustees’ first efforts on the new statements of investment principles has yielded damning results. But what can regulators, or even members, actually do about it?
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NewsUniversity strikes announced as talks fail to placate union
Staff at 52 UK universities are to strike over pensions for 14 days during February and March, despite recent talks between employers, trade unionists and the trustees of the Universities Superannuation Scheme.
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Academic support for renewed strike action swells
On the go: Up to 52 universities could now be affected by strike action if a dispute over the Universities Superannuation Scheme is not solved, after a reballot of institutions by the University and College Union.
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Telent: Buy-in could have scuppered scheme rescue
On the go: The trustees behind the record-breaking £4.7bn buyout of the Telent pension scheme say purchasing partial buy-in contracts could have derailed their aim of securing all members’ benefits.
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Climate disclosure guidance for schemes expected in March
On the go: The Department for Work and Pensions is set to issue guidance in March to trustees on reporting the impact of their investments on climate change, pensions and financial inclusion minister Guy Opperman has confirmed.