Latest articles from Maria Espadinha

Master trusts call for AE rate increase with opting down option

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Pension specialists are calling for the government to introduce an opting down option when setting the next auto-enrolment minimum rate increase as a way of protecting those on lower earnings.

Almost half of schemes lacking cyber security testing

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On the go: Almost half of pension schemes (43 per cent) have not tested the strength of their plan’s IT systems, processes and procedures for cyber crime protection, according to new research.

Third of schemes using GMP to improve member options

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On the go: One-third of pension schemes are using the guaranteed minimum pensions equalisation process as an opportunity to improve member options, according to new research.

Fraudsters jailed for a total of 10 years after £13.7mn pension scam

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Alan Barratt and Susan Dalton, part of a scam that tricked more than 200 savers into transferring their pension pots into fraudulent schemes they controlled, have been jailed for a total of 10 years.

PASA publishes pre-employment guidance to deter fraudsters

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On the go: The Pensions Administration Standards Association has published guidance on pre-employment checks for administrators, as it has been made aware of fraud cases undertaken or assisted by employees of these companies.

New strike mandate at universities over USS pensions row

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On the go: Staff at 27 universities have a mandate to take strike action over pensions that will last until October 2022, after the University and College Union secured the support of its members.

DB scheme surplus rises £43bn in March

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On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index increased by £42.8bn in March.

Northern Ireland LGPS commits to low-carbon fund

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On the go: The circa £10bn Northern Ireland Local Government Officers’ Superannuation Committee has transferred its entire £2.8bn core passive equity holdings into Legal & General Investment Management’s Low Carbon Transition Fund.

Ex-Norton owner given suspended sentence over missing pensions

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Stuart Garner, former owner of Norton Motorcycles, has been given a suspended sentence, after pleading guilty to illegally investing pension scheme money in his failing company.

PPF to reassess levy structure as part of funding strategy review

Chris Ratcliffe/Bloomberg

The Pension Protection Fund will conduct a full review of its levy methodology calculation over the next three years — with the goal of reducing scheme payments — as part of a revised funding strategy.