All articles by Benjamin Mercer – Page 15
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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.
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NewsPLSA calls for ‘major review’ of Fraud Compensation Fund
On the go: The Pensions and Lifetime Savings Association has called for a “major review” of the Fraud Compensation Fund, branding the current arrangement “not fit for purpose”.
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NewsRegulators’ value for money paper branded ‘utopian’ by SPP
On the go: The Society of Pension Professionals has criticised the “utopian” value for money discussion paper published by the Pensions Regulator and the Financial Conduct Authority, arguing that there is “no practical way” of achieving the goals set out.
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NewsIndustry concerns remain over anti-scam transfer restrictions
Almost half of schemes have more work to do to comply with new anti-scams transfer guidance, while nearly 10 per cent have “lots of work” to do, an XPS Pensions Group webinar has heard.
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NewsGovt consults on NHS scheme McCloud remedy
On the go: The Department of Health and Social Care has published a consultation into changes to be made to the NHS Pension Schemes to accommodate the McCloud remedy.
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NewsTPR opens investigations into 9 DB schemes over funding concerns
On the go: The Pensions Regulator has opened investigations into nine defined benefit schemes, following an engagement exercise designed to assess the risk to savers posed by employer covenants impacted by Covid-19.
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NewsAgeing a bigger problem for pensions than Covid-19
The impacts of the Covid-19 pandemic on pensions could be relatively short-lived should the global economy continue to recover, but an ageing population presents long-term challenges with no simple solutions, according to a new report from the OECD.
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NewsPASA launches dashboards data-matching guidance
On the go: The Pensions Administration and Standards Association has published guidance detailing how schemes must compare ‘find requests’ from pensions dashboard users against member records, with data quality determining the choice of approach taken.
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NewsPPF Purple Book shows improved DB funding but risks remain
Data crunch: Scheme deficits have recovered by £100bn since the low point of the Covid-19 pandemic, while the Pension Protection Fund liabilities with schemes in assessment are down by more than £4bn, according to the PPF’s Purple Book 2021.
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NewsDC schemes could allocate almost half of assets to illiquids
On the go: Defined contribution schemes could allocate up to 40 per cent of assets to illiquids for younger members to help improve their outcomes, according to new research from Hymans Robertson.
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NewsFifth of businesses are interested in CDC schemes
On the go: More than a fifth of businesses are interested in setting up a collective defined contribution scheme for their employees, according to new research from the Association of Consulting Actuaries.
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NewsBrendan McCafferty appointed as Nest chair
On the go: Pensions minister Guy Opperman has announced that Brendan McCafferty has been appointed as chair of the National Employment Savings Trust for a five-year term.
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NewsBT targets cash flow-matched strategy by 2034 with IRM
The BT Pension Scheme is using integrated risk management to assess its appropriate level of risk and pace its transition from equities to a fully cash flow-matched strategy by 2034.
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NewsPPF updates guidance in light of Bauer, Hampshire judgements
On the go: The Pension Protection Fund has issued updated guidance accounting for the judgements in the Hampshire and Bauer cases and the disapplication of the PPF compensation cap, confirming that no further allowance needs to be made for their impacts.
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NewsEstate agents sue Purplebricks over pay and pensions
On the go: Campaign group Contractors for Justice is to take legal action against online estate agent Purplebricks in a move reminiscent of gig workers’ bid to win holiday pay and pension rights.
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NewsGovt to consult again on McCloud implementation in 2022
The Cabinet Office, Home Office, Department for Education and Ministry of Defence have each opened consultations into the first phase of the McCloud remedy, covering regulations that will see all legacy schemes close to future accrual from March 2022. However, new consultations on phase two of the remedy will be launched next year.
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NewsPositive outlook for bulk annuity transactions in 2022
On the go: Insurers’ appetite for bulk annuities could be heightened in 2022 after a relatively slow 2021, according to research from Barnett Waddingham.
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NewsUnion slammed as ‘at odds with reality’ as USS strike action begins
On the go: Employers have once again hit out at the University and College Union over strike action set to commence on Wednesday.
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NewsClara Pensions to begin accepting transfers after TPR clearance
The Pensions Regulator has cleared consolidator Clara Pensions to begin accepting transfers, opening up a new endgame option for defined benefit schemes.
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NewsCabinet Office opens consultation as McCloud challenges mount
The Cabinet Office has launched a consultation on how the McCloud remedy is to be implemented for members of the civil service pension scheme, while the GMB union has joined the list of those challenging it in the courts.