Latest articles from Maria Espadinha

Welsh government left with ‘no option’ but to offer NHS tax solution

On the go: The Welsh government has been left with “no option” but to cover the pension tax bills of senior doctors, mirroring measures introduced in England. The health minister for Wales has branded the situation “totally unacceptable”.

Contractors take advantage of LGPS loophole on exit payments

The pensions industry is still waiting for the government to close a loophole allowing outsourcers to claw back surplus from the Local Government Pension Scheme even when they have not paid into the plan.

LGPS funds warn of fossil fuel divestment impact

On the go: Several of Britain’s top pension funds have warned about the impact of fossil fuel divestment plans, as they would have lost hundreds of millions of pounds had they sold out of oil and gas stocks.

Vegan case flags importance of heeding members

Twitter podcast logo

Podcast: Trustees and employers should consult members on their beliefs, and incorporate the investment views of the majority in their pension default fund, according to Romi Savova, chief executive at PensionBee, and David Brooks, technical director at Broadstone. The experts discuss the impacts of a landmark ruling finding that veganism is a philosophical belief, alongside other topics, in this week’s podcast.

Smaller-sized bulk annuity deals to increase in 2020

On the go: Fewer multibillion bulk annuity deals are expected in 2020, although the number of smaller transactions is set to increase, according to research from Willis Towers Watson.

Pension schemes bill to cost industry £818m in first year

The pensions industry faces an annual cost increase of £818m as a result of changes brought in by the pension schemes bill, with the new defined benefit funding regime and the pensions dashboard requiring the lion’s share of this investment.

AA considers DB scheme closure

On the go: The AA is considering closing the last section of its defined benefit scheme still open to future accrual, with 2,800 employees expected to be transferred to one of its defined contribution plans.

Renewed calls for govt to set up pensions commission

On the go: Two think tanks are calling for the government to set up a new pensions commission, after it found cross-party support for such an initiative.

British Steel trustees cleared by Pensions Ombudsman

The Pensions Ombudsman has rejected a number of complaints against the trustees of the old British Steel Pension Scheme, after concluding that communications to members were not misleading and did not amount to scaremongering.

PPF: More than half of defined benefit schemes still in deficit

On the go: Fifty-seven per cent of defined benefit schemes in the UK are in deficit, with an aggregate shortfall of £160bn, according to the latest edition of the Pension Protection Fund’s Purple Book.