Latest articles from Alex Janiaud

Royal Mail CDC scheme to increase annual payroll costs by £30mn

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Royal Mail’s new collective defined contribution scheme is anticipated to increase its annual cash payroll costs by around £30mn, its half-year accounts have disclosed.

PIC predicts £30bn addressable risk transfer market

News on the go

On the go: Pension Insurance Corporation has said that falling scheme liabilities will make pension risk transfer market volumes appear smaller over time, predicting a market of £30bn over the next year.

TPR and FCA flag governance and competence concerns over LDI

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The Pensions Regulator and the Financial Conduct Authority have raised questions over the governance of small schemes and the competence of some investors, in response to questions from a parliamentary committee over the use of liability-driven investments by pension schemes.

Three-quarters of asset managers yet to set climate transition targets

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On the go: Seventy-three per cent of asset managers surveyed by consultancy Mercer have yet to set climate transition targets – such as goals on achieving net zero – across their strategies.

Regulators tell savers to ‘stay on guard’ over scams

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On the go: The Pensions Regulator, the Financial Conduct Authority and the Money and Pensions Service have joined forces to warn savers against scams.

Civil servants vote for strike over pensions

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On the go: Civil servants have voted to strike with the highest level of support for industrial action in the Public and Commercial Services Union’s history, in a dispute that includes pensions.

Contributions surge 40% during decade of auto-enrolment

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On the go: Total annual contributions to workplace pensions rose to £114.6bn in 2021, marking a 40 per cent rise since the advent of auto-enrolment in 2012.

FCA highlights investment consultant ‘gap in regulation’

FCA

The Financial Conduct Authority has told MPs that it previously pointed to the risks associated with liability-driven investments and suggested the existence of a “gap in regulation” linked to investment consultants, in response to questions over October’s market turmoil and its impact on pension schemes.

Hunt declines to commit to state pension inflation uprating

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On the go: Chancellor of the exchequer Jeremy Hunt has told the chair of the work and pensions select committee that “there are difficult decisions to be made” in response to a request that social security benefits and state pensions be uprated in April 2023 in line with the consumer price index inflation rate recorded in September 2022.

Dashboards drive 26% surge in MaPS spend on pensions

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On the go: The Money and Pensions Service significantly increased its expenditure on its pension streams for its year to March 31 2022, a move it said was driven by its spend on the dashboards initiative.