All articles by Benjamin Mercer – Page 14
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People NewsPLSA to expand policy board expertise
On the go: The Pensions and Lifetime Savings Association is looking to expand the range of expertise on its policy board and committees, calling on experts from across the industry to apply for roles.
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News2022 set to be a bumper year for bulk annuities
On the go: 2022 is set to be a busy year when it comes to derisking and could break the record for the largest transaction, according to a report from LCP.
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NewsClarity needed as LGPS pools could be branded fiduciary managers
A delay to regulations from the Department for Levelling Up, Housing and Communities has meant that Local Government Pension Scheme investment pools have fallen under Competition and Markets Authority rules meant for fiduciary managers.
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NewsSolvency II reform could unlock ‘tens of billions’ in investments
On the go: The reform of the EU’s Solvency II requirements would unlock a “Brexit bonus” amounting to “tens of billions” of pounds in long-term infrastructure investment, according to a new report from the Pension Insurance Corporation.
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NewsDisappointment as Silentnight members denied compensation
On the go: MPs have expressed their disappointment that members of the Silentnight Pension Scheme will not receive any compensation from the £13m fine handed to KPMG for serious misconduct.
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NewsHalf of savers lacking interest and engagement with their DB pension
On the go:Only 49 per cent of defined benefit scheme member are concerned about knowing how much their pension could be worth, according to research from the Pension Protection Fund, which has warned of an “acute lack of understanding” by savers.
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NewsLGPS market value up nearly 25 per cent in a year
On the go: The market value of the Local Government Pension Scheme rose by 23.8 per cent in 2020-21 when compared with 2019-20, according to new figures from the Department for Levelling Up, Housing and Communities.
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NewsFairs: Diversity should make for difficult trustee board discussions
On the go: Increasing diversity and making trustee boards more inclusive will produce longer and more difficult discussions — and that is a good thing, according to David Fairs, executive director of regulatory policy, analysis and advice at the Pensions Regulator.
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NewsPASA looks to avoid statements season ‘capacity crunch’
On the go: The Pensions Administration and Standards Association has published supplemental material on the forthcoming statements season, making a number of recommendations around format and implementation that reflect “considerable concern” in the industry.
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NewsNest and UBS divest from ‘unresponsive’ energy companies
On the go: Asset manager UBS has jettisoned “unresponsive” energy companies from its suite of climate-aware funds, including one it manages on behalf of Nest.
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NewsGAD lists recommendations for LGPS 2022 valuation
The Government Actuary’s Department has published its statutory review of the Local Government Pension Scheme, listing a number of recommendations for the imminent 2022 valuations.
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PodcastsPodcast: Fiduciary trumps politics if divesting from ‘illegal Israeli settlements’
Podcast: Local Government Pension Schemes looking to divest from Israel should do so on grounds of sustainability and fiduciary responsibility, not because of politics and personal morality, says Richard Butcher, managing director of PTL. He is joined by Ian Neale, Aries Insight co-founder, to discuss divestment, defined benefit funding and ageing populations.
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NewsDWP begins engagement over multi-employer CDC schemes
Pensions minister Guy Opperman has confirmed that preliminary work has begun on the creation of multi-employer collective defined contribution schemes, as the Department for Work and Pensions publishes its response to the consultation on single-employer arrangements.
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NewsNew Judicial Pension Scheme progresses despite concerns
The Ministry of Justice has confirmed it will move forward with the creation of a new pension scheme for judges, despite concerns from some judges and legal associations that it will be less generous than the existing arrangements
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NewsMcCloud rebellion grows as six unions file for judicial review
Six trade unions want to take the government to court in a bid to stop it imposing the cost of the McCloud remedy on their members, with one considering strike action.
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News‘Transitory’ inflation soars to 10-year high, with more pain to come
Inflation soared to a 10-year high of 5.1 per cent in the year to November 2021, and those who once argued that the inflationary trend would be transitory are now warning that the worst is yet to come.
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NewsTPR’s DB funding code consultation delayed until ‘late summer’ 2022
The second consultation into the Pensions Regulator’s new defined benefit funding code will be delayed until “late summer” 2022.
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NewsDB scheme membership plummets 2.5m in 10 years
On the go: New data from the Pensions Regulator shows that defined benefit schemes continued to decline in 2020-21, a decrease that has gone almost unbroken since 2012.
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NewsDB funding code’s bespoke route could reduce schemes’ costs
Forty per cent of FTSE 350 defined benefit schemes will not be sufficiently well funded to opt for the ‘fast-track’ route in the Pensions Regulator’s forthcoming DB funding code, but the bespoke route offers significant cost savings.
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NewsScottish pensions agency proposes raft of LGPS amendments
The Scottish Public Pensions Agency has launched a consultation into a host of changes to the Local Government Pension Scheme in Scotland, covering early payment of pensions, survivor benefits and the cost cap.