All Barnett Waddingham articles – Page 5
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News
TPS employer contributions could reach 30% in 2023
A funding crisis in the pension scheme for teachers could lead to further contribution increases and yet more private schools leaving the scheme, as Covid-19 and the McCloud judgment take their toll.
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News
PLSA publishes SIP reporting guidance ‘just in time’
The Pensions and Lifetime Savings Association has published guidance providing “practical steps” for defined benefit and defined contribution trustees on how best to publicly disclose their activities in line with upcoming requirements.
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NewsBA pension trustee urges against RPI changes
The chair of Airways Pension Scheme Trustee Ltd, Roger Maynard, has warned that possible reforms of the retail price index could cause great injustices, as well as undermining trust in the issuance of index-linked gilts.
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News
Trustees need more pay and diversity, survey finds
On the go: Remuneration levels for trustees and chairs are not sufficient to attract skilled applicants to the roles, while fears are growing that too few trustees are entering the profession, according to a new report by Winmark and Barnett Waddingham.
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News
Lockdown spikes fears of democratic deficit in LGPS
As the Covid-19 crisis unfolds, there could be a worrying governance and democratic deficit in some local authority pension schemes, with only 27 per cent of councils having virtual pension committee meetings.
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News
After a fine innings at BW, McLean still wants to bat
A pension legend, Malcolm McLean has just stepped down as a senior consultant with Barnett Waddingham. He has received countless gongs, culminating in an OBE and two awards for outstanding achievement, but as a modest man he does not trumpet such fripperies.
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News
Unfunded public pensions to take £150bn hit from Covid-19
Overinflated estimates of UK economic performance could strain the affordability of unfunded public sector pensions, according to new estimates, with the government forced to weigh the continued security of public sector workers’ retirement against a £150bn tax burden on future generations.
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Features
Coronavirus hits unhealthy DB schemes hard
Data crunch: A new report from consultancy Barnett Waddingham has found that the coronavirus crisis has exacerbated the funding divide between UK defined benefit schemes, with severe implications for those at the bottom of the pile.
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FeaturesDoes lockdown shift leave pensions exposed to cyber crime?
Analysis: Covid-19 is not the only invisible threat looming over some of the UK’s most vulnerable citizens.
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News
Ombudsman’s Royal Mail decision opens up Pandora’s box
The Pensions Ombudsman has upheld a complaint against the Royal Mail Statutory Pension Scheme for refusing to pay a deferred pension, providing a salutary lesson for employers who fail to keep adequate records.
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News
Northumberland and Tyne and Wear schemes plan merger
The government is planning to merge the Northumberland County Council Pension Fund into the Tyne and Wear scheme, in a move that would generate savings of up to 12 per cent a year.
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News
Cheshire Pension Fund questions members on investments and ESG
The £5.8bn Cheshire Pension Fund is gauging the views of its members and participating employers on its investment strategy and environmental, social and governance policy.
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NewsTCFD reporting confirmed as climate guidance takes shape
Trustees should stress-test their portfolios against a range of climate change scenarios, according to provisional guidance launched on Thursday, as pensions minister Guy Opperman warned of consequences for those in dereliction of their duties.
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News
Pensions experts predict RPI limbo for years to come
Experts have condemned delays in publishing a long-awaited consultation on reforms to the retail price index, since its outcome could radically alter the fortunes of pension funds and pensioners.
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News
GMP rectification facing further delays after HMRC announcement
The government’s delayed timeline for confirming payments due under guaranteed minimum pensions reconciliation will be published soon, HM Revenue & Customs announced on Thursday, as it attempted to put an end to long-running confusion over partial payments.
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News
Scottish local funds urged to develop information standards
Inconsistencies and lack of standardisation in information are frustrating efforts to make a ‘like-for-like’ comparison between local authority funds in Scotland, a new government report has found.
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News
Trustees receive positive sign from ombudsman on scam checks
Trustees and administrators must maintain the utmost vigilance against scammers, industry experts warn, despite a Pensions Ombudsman determination on a £367,601 loss to fraudsters favouring the ceding pension scheme.
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OpinionCollective defined contribution schemes: Smooth operators?
Barnett Waddingham’s Esther Hawley looks at the differences between collective defined contribution schemes and individual DC strategies, and how workplace pension funds can mirror the new concepts being developed to improve the UK’s retirement outcomes.
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News
PPF includes levy adjustment for GMP equalisation
The Pension Protection Fund will allow companies moving from a profit to a loss – due to the impact of guaranteed minimum pensions equalisation – to request an adjustment in their levy calculations.
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NewsAlmost 200 schools leaving Teachers’ Pension Scheme
More than one in 10 private schools participating in the Teachers’ Pension Scheme are leaving the pension fund, with the majority opting for a defined contribution arrangement to avoid a massive increase in contributions.