All Defined benefit articles – Page 49
-
NewsMinister demands resolution as Dundee Uni staff set for strike
On the go: The Scottish government's higher education minister has spoken out against plans for University of Dundee staff to commence a third round of strike action over proposed changes to their pension arrangements.
-
NewsGMP guidance ‘helpful’ but ‘could have gone further’ on conversion
The government’s supplementary guidance on guaranteed minimum pensions equalisation was broadly welcomed by the industry as it could save trustees “time and money”, but some have cautioned that the section on conversion will make little difference without legislation.
-
NewsNHS workers make up a third of annual allowance breaches
On the go: At least 34 per cent of all people who exceeded the annual pension contribution allowance in 2019-20 were members of the NHS pension scheme.
-
NewsIs sustainability an important part of risk transfers?
Environmental, social and governance factors are becoming an important consideration for trustees running a pension scheme, but what issues does sustainability raise when trustees are looking to conduct a risk transfer?
-
NewsSchemes and providers team up to push pensions engagement
On the go: Around 15 pension providers and schemes representing approximately 41.5mn savers and customers have committed to support a campaign to encourage engagement with pensions.
-
NewsOverpayment woes at Teachers’ Pension Scheme continue
The Pensions Ombudsman has partially upheld two more complaints about overpayments to members of the Teachers’ Pension Scheme, the latest in a series of cases where the scheme and its administrators, Teachers’ Pensions, have faced accusations of maladministration.
-
NewsInvestors eye climate risk reporting omissions, CofE challenges VW
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including an investor coalition applying pressure on companies over their climate reporting, and the Church of England Pensions Board raising the heat on Volkswagen.
-
NewsDorset Pension Fund hit by audit delays
On the go: The Dorset Pension Fund is still waiting to receive its audit report covering its 2020-21 period from Deloitte, in a delay that is hampering audit sign-offs in wider local government.
-
NewsAlstom schemes appoint Mercer as fiduciary manager
On the go: Alstom UK’s Common Investment Fund has appointed Mercer to provide fiduciary management services for three of its defined benefit schemes with assets totalling £1.6bn.
-
NewsCentrica picks Schroders to invest its £10bn in scheme assets
On the go: Energy provider Centrica has chosen Schroders Solutions as its outsourced chief investment officer for its £10bn in pension scheme assets.
-
NewsUSS trustee concerned by ‘misleading’ use of financial reports
On the go: The Universities Superannuation Scheme trustee has issued an update on scheme finances, and expressed its concern that previous use of monitoring statements by parties involved in the ongoing 2020 valuation dispute could be “misleading” members about the true state of the scheme.
-
NewsHMRC to address GMP conversion tax issues ‘in the coming weeks’
The government has promised supplementary guidance on guaranteed minimum pensions conversion “in the coming weeks” and confirmed it is working on legislative changes, as the debate on the second reading of the pension schemes (conversion of GMPs) bill concludes in the House of Lords.
-
NewsFirefighters prepare fresh legal action against govt
Firefighter representatives and the Local Government Association have written jointly to the government raising the possibility of legal action if steps are not taken to compensate members affected by the remedy period resulting from the McCloud judgment.
-
NewsAppeals made as foreign exchange class action proceeds on opt-in basis
The Competition Appeal Tribunal has ruled that a class action suit against banks for participating in a foreign exchange spot trading cartel must proceed on an opt-in basis, leading to fears that thousands of pension funds could miss their opportunity to join the suit.
-
NewsGovt admits errors in almost 20,000 NHS GP pension records
Health minister Edward Argar told parliament in March that there were nearly 20,000 NHS GP pension records in error, prompting the British Medical Association to call for an end to the outsourcing of NHS pensions administration.
-
NewsPPF to reassess levy structure as part of funding strategy review
The Pension Protection Fund will conduct a full review of its levy methodology calculation over the next three years — with the goal of reducing scheme payments — as part of a revised funding strategy.
-
NewsPlatform launches pensions dashboard sandbox
On the go: Pensions Dashboards Programme partner Moneyhub has launched an interactive sandbox to show how the pensions dashboards could potentially work.
-
NewsUCU calls for an end to USS cuts in light of improved finances
On the go: The University and College Union has called on employers to reverse plans for what it called “brutal cuts” to staff pensions, in light of a “drastic improvement” in Universities Superannuation Scheme finances.
-
NewsTPR issues penalty over ‘inappropriate’ management buyout
On the go: The Pensions Regulator issued a £2mn compliance notice against a former pension scheme sponsor last year after a management buyout left it unable to support its scheme.
-
NewsFCA plans £71mn redress scheme for former British Steel members
On the go: The Financial Conduct Authority has set out plans to deliver £71.2mn in compensation to former members of the British Steel Pension Scheme who received unsuitable advice to transfer out of their pension.