The president of Universities UK has stood by planned reforms to the Universities Superannuation Scheme, in the lead up to unprecedented strike action that will take place across 150 universities.

On the go: Legal & General has disclosed that its defined benefit business-linked revenues and profits will be hit by around £10mn in its full-year 2022 results, following an autumn liquidity crisis among pension schemes that saw its higher-fee products sold to meet collateral calls.

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.

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.

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.

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.

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

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.

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.

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.