Pensions industry bodies are lobbying the government to make changes to the Corporate Insolvency and Governance Bill, which unless revised will “inevitably lead to more pensioners not receiving their benefits in full and greater strain on the Pension Protection Fund”.
Dormant pots to exceed 20m in 2020 due to Covid-19
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June 4, 2020
On the go: The impact of the coronavirus pandemic on the UK labour market will cause a 32 per cent increase in the number of dormant pension pots in 2020, according to new research.
Trustees advised to focus on going concern in schemes’ accounts
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June 2, 2020
On the go: Consideration of going concern in the preparation of pension scheme financial statements requires greater focus from trustees due to the coronavirus crisis, accountancy bodies have warned.
Medical scheme completes £10m buyout with Aviva
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June 1, 2020
On the go: The Unomedical Pension Plan has entered a £10m buyout with Aviva, which shows ongoing appetite from insurers to write smaller contracts.
Morrisons’ shareholders advised to vote against pension payout
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June 1, 2020
On the go: Morrisons’ shareholders have been advised to vote against executive pension payouts, as they are not aligned with the majority of the retailer’s workforce.
Firefighters considering pension compensation claims
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May 29, 2020
On the go: The Fire Brigades Union is looking at potential compensation claims for its members in public sector pension schemes who were victims of age discrimination.
HMRC to issue GMP final ‘outdated’ data cuts in July
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May 28, 2020
HM Revenue & Customs plans to provide defined benefit schemes with final guaranteed minimum pension data cuts by the end of July, despite confirming that some of this information might be out of date and unreliable for use in rectifying incorrect payments.
John Lewis agrees six-year DB deficit payment plan
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May 27, 2020
On the go: John Lewis Partnership and the trustees of its pension scheme have agreed to a six-year deficit recovery plan.
LGPS prepared for lower investment return in 2020
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May 27, 2020
On the go: While the Local Government Pension Scheme had a return of 6.2 per cent in 2019, its advisory board is monitoring the current market turmoil closely and is prepared for a downturn in 2020.
PPF: DWP is ‘key’ for Bauer solution
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May 26, 2020
On the go: The Pension Protection Fund hopes to use Department for Work and Pensions data to help it implement tricky increases required by the landmark Bauer judgment, according to Sara Protheroe, chief customer officer at the PPF.