Technology giant IBM’s decision to close its UK DB schemes has been ruled lawful by the Court of Appeal, in the culmination of an eight-year battle over the sponsor’s discretionary powers.
BBC pensions cap ruling offers reassurance to DB employers
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July 31, 2017
A Court of Appeal judgment safeguarding the BBC's right to cap increases to pensionable salary has reassured employers that they can take reasonable steps to address their defined benefit deficits, according to pensions lawyers.
GKN scheme closures and debt issuance to combat £1bn deficit
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July 31, 2017
Engineering firm GKN has closed its UK defined benefit pension schemes to future accrual, and plans to use proceeds from a debt issuance to plug a £1bn deficit on its UK post-retirement obligations.
CMA referral still likely for advisory firms as FCA consultation closes
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July 27, 2017
Apathy from the investment consulting industry to pro-competition measures suggested by the ‘big three’ firms is set to pave the way for a referral of the industry to the Competition and Markets Authority.
#AskTPR — Your questions for the regulator answered
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July 25, 2017
The Pensions Regulator has updated its approach to regulation and the use of its powers in the face of an ever-changing retirement savings landscape — and it is ready to answer your questions.
Now Pensions withdraws from mastertrust assurance list
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July 25, 2017
Now Pensions has removed itself from the Pensions Regulator’s list of schemes that have obtained mastertrust assurance for automatic enrolment, citing historic problems processing client contributions.
Government follows Cridland on state pension age
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July 20, 2017
The government has announced its intentions to implement the recommendations of the Cridland report, bringing the state pension age from 67 to 68 seven years ahead of schedule.
Environment Agency fund in surplus with ESG
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July 17, 2017
Strong investment returns have lifted the Environment Agency Active Pension Fund into surplus, as it challenged the industry to collaborate to improve uptake of environmental, social and governance-related strategies.
DB white paper will be published in winter
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July 13, 2017
The Department for Work and Pensions will consider giving further “proactive” powers to the Pensions Regulator and examine the case for consolidation, in a long-awaited white paper on defined benefit to be published in the winter.
Default offerings fail to inform savers adequately
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July 10, 2017
More than a third of default fund providers are failing to meet regulatory guidance asking them to clearly state their product’s objective, according to a new report that highlights communications failings in the sector.