The government will introduce an emergency measure to pay the tax bills of doctors and consultants in England affected by the tapered annual allowance, but the move has been criticised by experts.
DC trustees eye master trusts for decumulation options
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November 19, 2019
Data crunch: Trustee reluctance to offer in-house drawdown means single-employer defined contribution schemes may look to partner with a master trust to offer decumulation products to members, new analysis shows.
Aegon staff scheme completes £144m buy-in
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November 18, 2019
On the go: The Aegon UK Staff Retirement and Death Benefit Scheme has completed a £144m buy-in with Phoenix Group.
Regulator updates pension transfer guidance for trustees
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November 18, 2019
On the go: Defined benefit trustees will need to contact financial advice firms to check if the adviser listed on members’ transfer documents is employed with them, new guidance from the Pensions Regulator stipulates.
LGPS pension bill to rise 1% with McCloud case
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November 14, 2019
Fears that a legal case over discriminatory pensions could dent the funding of the Local Government Pension Scheme have been partially allayed, after preparations for the plan’s valuation found that liability increases will be limited.
Nursery director admits to avoiding paying pensions to staff
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November 14, 2019
On the go: A pre-school nursery and its main director have pleaded guilty in court to attempting to avoid providing their staff with a workplace pension.
Nest diversifies with global corporate bond mandate
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November 14, 2019
On the go: Master trust Nest has appointed Wells Fargo Asset Management to manage a global corporate bond mandate.
Actuaries call for legislation on DB schemes simplification
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November 14, 2019
On the go: The Association of Consulting Actuaries is calling for the next government to bring legislation to facilitate the wider simplification of defined benefit schemes, as part of its manifesto for the December elections.
SSE further de-risks with £750m buy-in with PIC
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November 14, 2019
On the go: The Scottish Hydro-Electric Pension Scheme – sponsored by Scottish and Southern Energy – has converted a longevity swap into a £750m buy-in contract with the Pension Insurance Corporation.
Scheme goes to court to avoid £10m rules drafting mistake
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November 12, 2019
An orthotics and prosthetics manufacturer has been forced to go to court to amend a word in pension scheme rules drafted 20 years ago, which if left unchanged would have cost the plan £10m.