All Consolidation articles – Page 8
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News
Clarity on dashboards, but delays taint Pension Schemes Act
The government fought off opposition amendments to the Pension Schemes Act in the House of Lords on Tuesday, keeping its dashboards options open — but experts have warned that many of the act’s more substantive changes could be delayed until 2022.
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News
Flat fees ban is a ‘sticking plaster’ on small pots wound
The Department for Work and Pensions’ proposed ban on flat fees on pots under £100 should be seen as a temporary stopgap, not a permanent solution to the small pots problem, industry figures have warned.
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NewsDWP to ban flat fees for small pots
The Department for Work and Pensions is to ban the charging of flat fees on pension pots under £100 in an attempt to stop their erosion by charges and administration costs.
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News
Calls for actuaries to offer strategic advice as schemes target endgame
An industry group is proposing a radical change in the actuarial role, suggesting these professionals should step away from a technical specialist position to offer strategic advice, while moving away from triennial valuations.
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PodcastsPodcast: Economic uncertainty, DC consolidation, ESG to mark 2021
Podcast: Economic uncertainty from the pandemic and the aftereffects of Brexit, solving the small pots problem and consolidation in the defined contribution universe, and yet more environmental, social and governance regulation are the themes to watch out for this year. These are the predictions for the pensions industry in 2021 from Marc Hommel, senior pensions adviser at EY-Parthenon, and Sue Pemberton, head of technology and DC consulting at Premier Pensions.
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News
Bulk annuities growth dependent on ‘jumbo’ deals and consolidators
On the go: While the UK bulk annuity market is expected to continue to thrive in 2021, its significant growth will depend on ‘jumbo’ deals and on the development of the consolidators’ market, according to Aon.
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News
Small pots report recommends member exchange trials
The pensions industry should begin work to facilitate mass exchanges of sub-scale defined contribution accounts, according to a government-commissioned working group looking to address the problem of small pots.
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PodcastsPodcast: Trustees advised to self-certify before Christmas
Podcast: Jo Myerson, trustee director at Ross Trustees, tells Pensions Expert it is important that trustees comply with the Competition and Markets Authority’s self-certification rules early in order to avoid a mad, post-Christmas dash to meet the January 7 deadline. She is joined by David Rae, head of strategic client solutions at Russell Investments, in an episode also covering insolvencies, superfunds and the fallout from the reform of the retail price index.
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News
Insolvency dawns on 22% of FTSE 350 DB schemes’ rated sponsors
On the go: Almost a quarter of FTSE 350 defined benefit schemes with rated sponsors expect corporate insolvency before they reach buyout, according to analysis from Hymans Robertson.
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NewsWeekly roundup: It’s not easy being Green
Welcome to Pensions Expert’s roundup of a week in which we bade farewell to a few of the high street’s better-known names, and the Pension Protection Fund brightened everyone’s mood with its new doomsday scenario.
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News
Arcadia trustees in talks with The Pension SuperFund
On the go: Trustees of the embattled Arcadia pension funds are in talks with The Pension SuperFund, which could result in the schemes being absorbed by the consolidator.
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News
Arcadia, Debenhams the first high street dominoes to fall
High street retailer Debenhams became the latest domino to fall following the collapse of Philip Green’s Arcadia Group on Monday, with the pension schemes of both now entering the Pension Protection Fund assessment period.
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News
Master trusts warn cost concerns overshadowing investment quality
Data crunch: Master trust providers are concerned that their clients excessively focus on cost to the detriment of investment propositions, according to a report by the Defined Contribution Investment Forum.
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News
PPF reserves could be ‘wiped out’ by one or two big claims
Pension Protection Fund chief executive Oliver Morley has warned that the lifeboat’s reserves could be wiped out by just a few large claims, while downplaying the risk of a post-Covid run of small-scheme claims.
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OpinionPressure builds on small DC schemes to consolidate
Covid-19 looks to be accelerating the trend towards consolidation in the defined contribution industry, and the UK government is keen to see the transition take place at an even faster pace, writes Sackers’ Emma Martin.
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News
Labour pushes climate change, superfunds, dashboard amendments
Senior Labour party figures including leader Keir Starmer have put their names to a series of amendments to the pension schemes bill, covering climate change targets, superfunds legislation and the pensions dashboards.
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Features
Professional trustees: ‘quis custodiet ipsos custodes?’
Analysis: With consolidation now the name of the game in the small world of pensions, trustee conflicts of interest could harm millions of pension scheme members’ prospects, as schemes eye superfunds and master trusts with vast sums at stake in fees.
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FeaturesImproved governance is driving consolidation in DC
Data crunch: The prominence of better governance as a driver for consolidation in defined contribution provides a lesson for those trying to encourage mergers elsewhere in pensions, writes Broadridge’s Hal La Thangue.
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News
Covid leaves Northern Ireland Water deficit recovery in rough sea
Northern Ireland Water could have to pay an additional £4.6m a year in deficit repair contributions to its scheme, but uncertainty about how Covid-19 has impacted its investment and ongoing negotiations with trustees makes it hard to gauge its recovery plan.
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News
Regulator unveils superfunds guidance for trustees
The Pensions Regulator has published new guidance for defined benefit schemes transferring into a commercial consolidation 'superfund', placing the burden of proof on trustees to show that their plan is in members' best interests.