The European Court of Justice ruling on the Bauer has been described as a “welcome relief” for the Pension Protection Fund, as the lifeboat will only have to up member benefits if the individual is living below the at-risk-of-poverty threshold.
Large employers to face higher PPF levy in 2021
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December 19, 2019
On the go: The Pension Protection Fund is proposing changes to its levy risk assessment model, which will result in increased charges for larger employers.
Thousands of firefighters to return to pre-2015 pensions
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December 19, 2019
On the go: An employment tribunal ruled on Wednesday that more than 6,000 firefighters are entitled to return to pre-2015 public sector schemes, following similar decisions for other affected civil servant groups.
Nest considers 1.5C target for climate change fund
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December 19, 2019
Data crunch: The government-backed workplace provider Nest is testing ways to adopt a 1.5C goal for its Climate Aware Fund, to better reflect the “quickly evolving nature of climate change risk” and its impact on members’ investments.
DB schemes pursuing riskier investments, TPR warns
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December 18, 2019
On the go: Some defined benefit schemes are are pursuing more risky investment strategies that seek extra returns, which could be damaging in the event of adverse economic shocks, the Pensions Regulator warned.
Electricity Supply scheme completes £805m pensioner buy-in
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December 18, 2019
On the go: The Electricity North West Group of the Electricity Supply Pension Scheme has completed a £805m pensioner buy-in with Scottish Widows.
Recruitment agency fined for avoiding AE duties
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December 18, 2019
On the go: A recruitment agency and its managing director have been ordered to pay £10,890 for avoiding their auto-enrolment duties and misleading the Pensions Regulator by falsely claiming staff had been put into a workplace pension.
Opperman reappointed pensions minister
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December 18, 2019
On the go: Guy Opperman remains as minister for pensions and financial inclusion after being reappointed as MP for Hexham.
TPR approves HSBC master trust
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December 17, 2019
On the go: The HSBC Master Trust has become the first new scheme to be authorised by the Pensions Regulator, bringing the total number of authorised schemes to 38.
IGCs face ‘huge challenges’ with extended oversight remits
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December 17, 2019
The new rules coming into force for independent governance committees – taking oversight of the provider’s policy on environmental, social and governance factors, and guaranteeing the value for money of new investment pathway solutions – have been branded a “huge challenge” by industry experts.