All Defined benefit articles – Page 61
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NewsWeir scheme and Capita to pay member after GMP blunder
The Weir Group Pension and Retirement Scheme, along with its former administrator Capita, have been ordered by the Pensions Ombudsman to pay a member £2,000 over the poor handling of his transfer value information.
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NewsBuck completes first ‘standalone’ GMP equalisation project
On the go: Buck claims it has completed the industry’s first ‘standalone’ guaranteed minimum pension equalisation project.
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NewsHow Derbyshire scheme is using sustainability to generate returns
In reality, what is involved when giving a pension fund a new sustainable focus?
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NewsPension rules extended to October for returning NHS staff
On the go: The government has extended its relaxation of pension rules by seven months for NHS staff returning to work so they are not hit by reduced pension payments.
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NewsRegulators should look at the role of introducers in British Steel scandal
On the go: Regulators have been urged to look again at the role of introducers in the British Steel Pension Scheme transfers scandal that has seen more than £20mn paid out in compensation.
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NewsUSS strengthens net zero goal, PIC and Railpen invest in social housing
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, as the Universities Superannuation Scheme increases the scale of its net zero ambitions, the Pension Insurance Corporation backs Northern Irish social housing and the Railways Pension Fund agrees to fund affordable housing in east London.
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NewsL&G ‘well advanced’ with commercial dashboard development
Legal & General is “well advanced” with the development of a commercial dashboard, building on the work done in the alpha and beta stages of the Pensions Dashboards Programme.
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NewsFCA says dashboards will increase advice ‘value for money’
On the go: The Financial Conduct Authority has said the pensions dashboards will increase competition in the advice profession and offer consumers better value for money.
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NewsLecturers strike again over USS benefit cuts
On the go: Staff at 44 institutions are to walk out once again over planned benefit cuts to the Universities Superannuation Scheme.
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NewsLondon CIV launches alternative credit fund
On the go: London CIV, which oversees around £26bn on behalf of 32 London Local Government Pension Schemes worth a collective £45bn, has launched its Alternative Credit Fund.
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NewsGPs can file late applications to cover tax bills after pressure
On the go: NHS staff have been given the option to make a late application to have their scheme cover annual allowance tax bills after the industry warned that many GPs would not have completed paperwork in time.
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PodcastsPodcast: Government must set a timeline for auto-enrolment expansion
Podcast: Auto-enrolment could bring significant benefits to the young, the low-paid and women, and the government must commit to a date to expanding coverage, according to Now Pensions’ head of PR and campaigns, Samantha Gould. She is joined by Linklaters pensions partner John Sheppard to discuss AE, pensions dashboards, and illiquid investments by defined contribution schemes.
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NewsEmployers and union at loggerheads as USS deadline looms
Employer representatives have again criticised the University and College Union as the deadline for avoiding “unaffordable” contribution rate hikes in the Universities Superannuation Scheme approaches.
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NewsAviva apologises after sending pension transfer email in error
On the go: Aviva has apologised to financial advisers and their clients after it sent an email in error about an “impending pension transfer”.
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NewsMadeline Forrester appointed PPI chair of council
On the go: The Pensions Policy Institute has appointed Madeline Forrester as its new chair of council.
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NewsLPFA divests from extractive fossil fuels, PIC invests in urban project
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, as a local authority pension fund divests from extractive fossil fuels and the Pension Insurance Corporation invests in a Milton Keynes build-to-rent project.
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NewsSurvey finds ‘overall lack of trust’ in the pensions industry
On the go: Last year saw a small rise in members’ trust in pensions, but almost a third (31.5 per cent) still have “no or very little trust” in the industry, according to a Trafalgar House survey.
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NewsDB schemes’ surplus rises by £17bn in January
On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index increased by £17.1bn in January.
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News‘Historical’ risk transfer volumes to continue in 2022
On the go: Risk transfer momentum is on the rise, driven by strong investment return, market activity, asset availability and the number of large pension plans coming to the market, new research has shown.
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NewsCivil Service Pension Scheme looks for new admin
On the go: The Cabinet Office is weighing up administrators for the Civil Service Pension Scheme.*