The Pension Protection Fund has shifted the majority of its member transactions occurring online, beating its target set for 2022, as the lifeboat adapts its services to cater for a large influx of members.
First 14 professional trustees become fully accredited
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May 22, 2020
On the go: Some 14 professional trustees have become fully accredited under the Association of Professional Pension Trustees framework.
New insolvency laws could impact healthy DB schemes
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May 22, 2020
On the go: New insolvency laws introduced in parliament, designed to prevent companies being forced to file for bankruptcy due to the Covid-19 crisis, could cause new hurdles for defined benefit schemes, a law firm has warned.
Willis Towers Watson’s merger with Aon faces US lawsuit
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May 22, 2020
On the go: Willis Towers Watson is facing a shareholder class action in the US due to its planned merger with Aon, which would create a worldwide insurance broker worth $80bn (£65.5bn).
Old British Steel scheme trustees consider buyout
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May 20, 2020
On the go: The trustees of the Old British Steel Pension Scheme are considering a buyout for its 31,000 members, due to a better-than-expected funding position achieve while in the assessment period at the Pension Protection Fund.
Music charity leaves Teachers’ scheme to offer benefits symphony
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May 20, 2020
A hike in employer pension contributions has prompted a Birmingham-based charity to leave the Teachers’ Pension Scheme, using the savings from that decision to extend its benefits offering.
PPF creates panel to support trustees with stressed sponsors
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May 18, 2020
On the go: The Pension Protection Fund has established a new panel to support trustees where the scheme’s employer is in stressed or distressed circumstances.
DWP steps in at Lloyds’ GMP past transfers hearing
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May 18, 2020
Government lawyers have dealt a blow to trustees hoping not to have to apply guaranteed minimum pension equalisation to past transfers, branding the argument from Lloyds Banking Group in a high-profile court case “misconceived”.
HMRC admits errors in GMP final data cuts
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May 14, 2020
HM Revenue & Customs has admitted that the data it has asked defined benefit schemes to use for the calculation of members’ guaranteed minimum pensions is outdated, which is expected to delay the project even further and increase costs for pension funds.
Adapting to lockdown: lessons for the future?
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May 13, 2020
With the pensions industry quickly adapting to the Covid-19 lockdown and so far delivering its objectives, are any of its learnings here to stay?