Scottish Widows has announced plans to enhance its asset allocation strategy in response to lower projected returns and potentially long-lasting volatility as a result of the coronavirus crisis, following a strategic review conducted earlier this year.
Lockdown sees third of savers taking action on pensions
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July 2, 2020
Data crunch: Seven million people, representing more than a third of savers, have taken action relating to their pensions during the coronavirus lockdown, with almost one in three reviewing their spending habits more often, according to analysis by Aviva.
Ex-chancellor calls for flat-rate pension tax relief
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July 2, 2020
On the go: Former chancellor of the exchequer Sajid Javid has called for a flat-rate pension tax relief as part of a wide-ranging post-Covid recovery plan published by the Centre for Policy Studies.
One in five schemes considering superfunds
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July 1, 2020
On the go: The Pensions Regulator’s interim guidance for consolidators has sparked a surge of interest by pension schemes, with one in five considering superfunds as an option for their endgame, according to a survey by Willis Towers Watson.
Government plans to push ahead with small scheme consolidation
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June 30, 2020
On the go: The government looks set to press ahead with plans to encourage small schemes to consolidate, according to analysis of consultation documents by LCP.
Insolvency bill retains potential to damage DB schemes
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June 29, 2020
Government attempts to mitigate the risk its new insolvency legislation poses to defined benefit pension schemes have only been partly successful, and company moratoriums could still see schemes lose out on valuable contributions, experts have said.
Widespread industry support for regulator’s Covid-19 response
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June 29, 2020
On the go: Industry professionals are “overwhelmingly positive” about the Pensions Regulator’s response to Covid-19, though they remain pessimistic about future prospects, according to a report from the Pensions Management Institute.
OECD encourages regulators to be flexible in response to pandemic
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June 26, 2020
On the go: Policymakers should allow for regulatory flexibility in their approach to recovery plans to make sure that people saving for retirement stay the course during the Covid-19 crisis, the OECD has recommended.
Work and pensions committee urged to open inquiry into scams
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June 26, 2020
On the go: The head of a transparency pressure group has written to the chair of the work and pensions committee to request it opens an inquiry into the scope and extent of pension scams.
Seven-year scam poses ‘serious questions’ for TPR
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June 25, 2020
The Pensions Ombudsman has finally brought to a close a seven-year case that left members of three pension schemes looking to recoup losses in excess of £14m. However, questions have been raised about the effectiveness of the Pensions Regulator in this case.