Latest articles from Angus Peters

Court of Appeal safeguards bankrupts’ undrawn pensions

Savers who become bankrupt but have not yet drawn their pensions will not have to hand them to creditors, after a court ruling on Friday put an end to fears that pension pots were at risk.

One-stop guidance shop to replace MAS, TPAS and Pension Wise

Financial guidance resources the Money Advice Service, The Pensions Advisory Service and Pension Wise will be replaced by a single body, the Treasury and the Department for Work and Pensions said yesterday.

DWP silence on GMPs blocks Smiths implementation

Two UK defined benefit schemes operated by technology company Smiths Group have said they will implement guaranteed minimum pension equalisation but need further clarification from the Department for Work and Pensions to do so.

DC schemes drown in regulatory change and jargon

Trustees of occupational defined contribution pension schemes are increasingly failing to meet governance requirements due to excessive regulatory change, a panel of industry figures has said.

Nest drawdown proposals: Competitors fear disruption

The dust has settled on government's call for evidence on the expansion of Nest into the drawdown market, but it seems the war of words between industry professionals is far from over.

Select committee rhetoric sees indexation changes creep closer

From the blog: The international day of the older person might not have been as riotous as usual when it took place this Saturday, as private sector pension increases looked more under threat than ever.

 

Just the day before, Work and Pensions Committee chair Frank Field MP announced that he and his colleagues will consider the impact of allowing schemes to suspend inflation-linked pension increases, as part of the committee’s inquiry into defined benefit schemes.

 

Now Field and his team will investigate what needs to be done to “help create a climate of opinion so scheme trustees would naturally think about introducing flexibility on benefits”, Field told the Financial Times.

 

Click here to read the full blog post

Advice requirement rules could spell end to consumer confusion

The Department for Work and Pensions last week issued a consultation on draft regulations aimed at simplifying the way safeguarded flexible benefits are valued in relation to the freedom and choice advice requirement.

Royal Mail diversifies alternatives ahead of planned scheme closure

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The Royal Mail Pension Plan has diversified the alternatives investments in its portfolio, adding new private debt and infrastructure funds, while almost eliminating its exposure to equities in one of its sections.

'Patchwork quilt' of solutions threatens drive for transparency

Transparency Strategy Summit

Regulators and consumer groups have been warned against installing a “patchwork quilt” of solutions to increase transparency in asset management, as remedies to hidden charges within funds begin to emerge.

Invensys swaps linkers for nominal in hunt for cash flow

Cover graphic 120916 teaser

The Invensys Pension Scheme has extended its commitment to fixed rate gilts, as low portfolio risk and a strong covenant allowed the £4.9bn scheme to weather worsening conditions in the broader UK industry.