As consolidation offers multiply in the defined benefit market and superfunds wait for their first transactions, Punter Southall is proposing a revival of the multi-employer concept for smaller schemes, which could bring their sponsors savings of 80 per cent.
PPF reserves drop 16% due to pandemic
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October 9, 2020
On the go: The Pension Protection Fund saw the value of its reserves decrease by 16 per cent in 2019-20 due to the impact of the markets’ reaction to the Covid-19 pandemic on its return-seeking assets.
Statutory pension transfer rights pause becomes bill amendment
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October 6, 2020
A new amendment restricting the statutory right to a transfer is to be tabled to the pension schemes bill, in an attempt to combat pension scammers.
Global Pensions Wrap: October edition
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October 3, 2020
Our monthly roundup of the best international pensions stories published by the FT’s outlets, featuring the new SEC rule that could stymie ESG proxy proposals, Europe’s star funds that have fallen from grace, and South Korean pension fund managers facing investigation for smoking cannabis.
TPR warns trustees ‘can’t duck’ from climate change
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October 2, 2020
On the go: As new reporting requirements on environmental, social and governance considerations come into force, the Pensions Regulator has warned trustees to build capacity in this area as climate change is a fundamental consideration for schemes.
Should ‘too-big-to-fail’ schemes be nationalised?
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September 29, 2020
Analysis: The current pandemic-led economic crisis, coupled with the fact that some of the biggest defined benefit schemes are sponsored by quasi-governmental institutions, has led to suggestions that the government should nationalise these pension funds.
PPF sets levy at £520m for 2021-22
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September 29, 2020
On the go: The Pension Protection Fund has set its levy at £520m for 2021-22, which is £100m lower than the previous year.
TPR investigates DRC holiday abuse
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September 28, 2020
On the go: The Pensions Regulator is investigating a number of companies’ pension schemes for allegedly taking advantage of a relaxation in the deficit repayment contribution rules due to the pandemic.
New job support scheme risks increasing AE confusion
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September 25, 2020
On the go: The new job support scheme announced by the government on Thursday will increase the risk of employers miscalculating pension contributions for employees, a law firm has warned.
Smiths Group completes £142m buy-in with Aviva
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September 25, 2020
On the go: Smiths Group, an industrial technology company, has completed a £142m buy-in transaction with Aviva for the TI Group Pension Scheme.