New requirements on trustees to shop around for fiduciary management and challenge their advisers will generate better value for members, experts have said in response to measures set out by the Competition and Markets Authority.
Government fires ‘starting gun’ on superfund deals
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December 7, 2018
A government consultation published last week will allow the UK’s commercial defined benefit consolidators to press ahead with their first deals, it has been claimed, although some experts say questions remain over how the businesses can be prudently regulated.
Will poor data standards hinder dashboard success?
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December 7, 2018
News in focus: The Department for Work and Pensions' recently published feasibility study for the pensions dashboard project has been seen as a welcome step towards making dashboards a reality, but compulsion, data cleansing and careful planning are crucial if the initiative is to be a success.
BT section must stick to RPI, Court of Appeal says
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December 5, 2018
BT has lost an appeal seeking to allow it to downgrade the inflation protection given to some of its defined benefit members.
Rentokil announces £1.5bn buyout with PIC
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December 4, 2018
Business services group Rentokil Initial has passed its £1.5bn of defined benefit liabilities to the Pension Insurance Corporation in a full buyout, adding to a record-breaking year for bulk annuity transactions.
DWP eyes scheme dashboard compulsion within 4 years
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December 3, 2018
Occupational pension schemes may be expected to provide member data to pensions dashboard services or face regulatory punishments within the next four years, according to a feasibility study by the Department of Work and Pensions.
No-deal Brexit a possibility as McVey and others quit
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November 15, 2018
Esther McVey has resigned as secretary of state for work and pensions amid a raft of cabinet resignations, raising speculation about the impact of a no-deal Brexit on the pensions sector.
Esther McVey resigns over Brexit deal
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November 15, 2018
On the go: Esther McVey has resigned as Secretary of State for Work and Pensions, declaring that she was unable to support Prime Minister Theresa May's draft EU withdrawal agreement.
DB health improves but covenant strength ignored
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November 14, 2018
Defined benefit pension schemes are not paying enough attention to the likelihood of their employer going bust when setting investment strategy, according to a new study assessing funding levels in the context of sponsor health.
Timpson first to take plunge on Nest sidecar trial
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November 13, 2018
Shoe repair and key-cutting retailer Timpson is the first named participant in Nest’s two-year trial of sidecar accounts, with the master trust saying it expects to announce other companies joining soon.