The Bank of England has announced additional measures to support pension funds through the current market turmoil, including an increase in the size of its gilt daily auctions and a temporary initiative to ease liquidity pressure on schemes holding liability-driven investments.
MPs question TPR role in LDI market turmoil
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October 5, 2022
The Work and Pensions Committee has questioned the Pensions Regulator’s role in the market turmoil that led to the Bank of England’s intervention, asking if the watchdog should have “taken stronger action” earlier and what actions it was taking to monitor risks.
TPR called to regulate schemes’ LDI leverage levels
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October 4, 2022
The Pensions Regulator should consider regulating levels of liability-driven investments leverage to guarantee that pensions schemes can withstand future market volatility, experts have warned.
TPR: Schemes had right structures in place to face market crisis
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October 3, 2022
The Pensions Regulator believes defined benefit schemes had “sensible waterfall measures in place” to face the collateral calls prompted by rising gilt yields and has advised struggling trustees to speak to their advisers.
MPs call for AE reforms to be introduced by spring 2023
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September 29, 2022
The Work and Pensions Committee has called on the government to introduce auto-enrolment reforms next spring, while setting up new policy goals to ensure a “new consensus on adequate retirement income” is achieved.
USS chief exec to step down in 2023
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September 28, 2022
On the go: Universities Superannuation Scheme group chief executive Bill Galvin will be stepping down in 2023 in order to “refresh” the leadership team.
Social impact investment grows almost 10-fold in 10 years
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September 27, 2022
On the go: Social impact investment in the UK has grown from £830mn in 2011 to £7.9bn in 2021, an increase of nearly 10-fold, new research has revealed.
TPR finds contribution errors in auto-enrolment inspections
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September 26, 2022
On the go: The Pensions Regulator’s auto-enrolment inspections found a “number of errors” in compliance with auto-enrolment, including miscalculation of pension contributions and miscommunication with staff.
TPR approached a ‘number of times’ by capital-backed consolidators
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September 22, 2022
The Pensions Regulator has been approached a “number of times” by companies working on capital-backed consolidation models, according to Charles Counsell, who has called for superfund legislation.
Yell Pension Plan agrees £370mn full buy-in
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September 21, 2022
On the go: The Yell Pension Plan has agreed a £370mn buy-in with Pension Insurance Corporation, covering the remaining liabilities of the defined benefit scheme.