All Defined benefit articles – Page 99
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PodcastsPodcast: TPR’s criminal powers policy will evolve with experience
Podcast: The Pensions Regulator’s policy around the use of its controversial new powers “will evolve” in response to evidence, court cases and industry experience, its director of regulatory policy, analysis and advice revealed.
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News
Brunel Pension Partnership reduces costs by £34bn
On the go: The Brunel Pension Partnership has published its annual report highlighting the cost saving incurred and the increased opportunities for stewardship, diversification and climate analysis for its members.
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OpinionSystemic issues won’t be addressed until regulator thinks systemically
ShareAction’s director of policy, Bethan Livesey, calls for the regulator to provide sector-wide resources and data on environmental, social and governance risks for schemes to use in their own assessments.
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News
HMRC sets final GMP reconciliation deadline
On the go: HM Revenue & Customs has set July 31 as the final deadline for defined benefit schemes to request their final guaranteed minimum pensions reconciliation data cuts.
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News
Industry facing trustee exodus due to TPR’s new powers
Concerns about the reach and remit of the new powers afforded to the Pensions Regulator have not been addressed by its guidance or draft policy, and are even forcing some trustees to quit, Aon has said.
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News
TPR clarifies expectations in settlements policy statement
On the go: The Pensions Regulator published a settlements policy statement on Thursday with the overarching aim that these agreements offer fair and appropriate outcomes.
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News
General Motors completes £53m bulk annuity deal
On the go: General Motors’ Vauxhall Associated Companies Pension Fund has completed a £53m bulk annuity purchase with Aviva.
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News
Pension schemes urged to raise alarm over scams
On the go: Pension schemes are being urged to raise the alarm over scams following a concerning long-term drop in reporting.
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News
TPO publishes guidance for trustees on IFA appointments
On the go: The Pensions Ombudsman has published guidance for trustees when appointing financial advisers for their members, and how they can protect themselves from complaints.
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News
Government calls for greater emphasis on social factors
The government has called for a greater emphasis on the social element of pension schemes’ environmental, social and governance strategies, as there is a concern trustees are ill-equipped to deal with these factors.
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News
Govt proposes new rules for companies’ climate disclosures
On the go: The government is consulting on new rules to mandate climate-related financial disclosures by companies, which will aid pension schemes’ compliance on environmental, social and governance factors.
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News
Merchant Navy plans to insure all liabilities by 2025
On the go: The £4.1bn Merchant Navy Officers Pension Fund plans to insure all of its remaining liabilities by 2025, as it is set to undergo its next triennial actuarial valuation at the end of the quarter.
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News
Alternative funding structures attracting 75% of DB sponsors
On the go: As many as three in four defined benefit scheme sponsors could be using contingent funding as an alternative to the traditional deficit recovery contribution route, according to analysis from LCP.
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News
Govt chooses full indexation of GMPs for public sector schemes
The Treasury has decided to abandon the idea of converting guaranteed minimum pension benefits in public sector schemes, opting for a permanent extension of full indexation, which will be more expensive for private pension funds that are forced to mirror government rules.
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News
Govt to clear up 'scheme pays' issues in McCloud remedy
On the go: The government will amend pension tax rules to make it easier for those who incur annual allowance charges as part of McCloud remedies to pay these through the pension schemes.
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News
Government to review DB consolidators taxation regime
On the go: The government is to review the taxation framework for defined benefit consolidators, which will occur alongside the work being done by the regulator in this area.
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News
Suspect in £13.7m pension fraud extradited to UK
On the go: An individual has been extradited from Spain in connection with a £13.7m pension fraud in a criminal case being brought by the Pensions Regulator.
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News
TPR: 'Greater need’ for schemes to reconcile data due to Covid-19
On the go: Due to the current pandemic, there is a “greater need” for accurate data reconciliation, according to Louise Sivyer, policy principal at the Pension Regulator’s regulatory policy directorate.
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News
Pension schemes’ liabilities overstated up to £60bn
On the go: Defined benefit schemes’ liabilities may be overstated from 1.5 per cent up to 3.5 per cent following the Covid-19 pandemic, according to pensions consultancy XPS.
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NewsPensions dashboards’ 2023 target ‘under threat’
The target date of 2023 for the introduction of the pensions dashboards is under threat from a lack of clarity in several key areas, the Society of Pension Professionals has warned.