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Weekly roundup: It’s not easy being Green

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Welcome to Pensions Expert’s roundup of a week in which we bade farewell to a few of the high street’s better-known names, and the Pension Protection Fund brightened everyone’s mood with its new doomsday scenario.

GardaWorld offers G4S trustees £770m funding package

News On the Go

On the go: Trustees of the G4S pension scheme have been offered a £770m funding package by Canadian security company GardaWorld, the latest development in its attempt at a hostile takeover of the UK outsourcing company.

Arcadia trustees in talks with The Pension SuperFund

News On the Go

On the go: Trustees of the embattled Arcadia pension funds are in talks with The Pension SuperFund, which could result in the schemes being absorbed by the consolidator.

Coronavirus pandemic causes one in eight to delay retirement

News On the Go

On the go: The government’s anti-Covid lockdown strategy has forced one in eight people over the age of 55 to delay their retirement, according to new research from YouGov.

L&G to halve emissions of annuity book by 2030

News On the Go

On the go: Legal & General has announced it is to cut the carbon emissions intensity of its £80.7bn annuity book by 18.5 per cent by 2025 and 50 per cent by 2030 as part of its drive to become net-zero by 2050.

Arcadia, Debenhams the first high street dominoes to fall

High street retailer Debenhams became the latest domino to fall following the collapse of Philip Green’s Arcadia Group on Monday, with the pension schemes of both now entering the Pension Protection Fund assessment period.

Majority of schemes struggle to obtain climate risk data

News On the Go

On the go: Nearly three-quarters of pension professionals said they lack vital information necessary for them to report on climate risk in their pension schemes, according to a survey from the Pensions and Lifetime Savings Association.

Simplifying language can increase pensions engagement

News On the Go

On the go: Almost half of savers do not know they can choose how much money they pay into their pensions, while a third misunderstand the purpose of auto-enrolment minimum caps, a new report has revealed.

Green pressured to save Arcadia pension schemes

Bloomberg

On the go: Philip Green is being pressured to “make good” on promises to 10,000 members of the Arcadia pension scheme as his retail empire is on the brink of filing for administration, which would leave the scheme in the Pension Protection Fund.

Phoenix launches new ESG default solution

News On the Go

On the go: The UK’s largest long-term savings and retirement business has announced the launch of a new defined contribution default solution incorporating environmental, social and governance standards.