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.
Part-time judges win court case
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December 17, 2019
On the go: Four judges have seen the Supreme Court rule in favour of their appeal to reclaim a pension, in a case that could cost the government £1bn.
PPF includes levy adjustment for GMP equalisation
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December 16, 2019
The Pension Protection Fund will allow companies moving from a profit to a loss – due to the impact of guaranteed minimum pensions equalisation – to request an adjustment in their levy calculations.
ESAB Group scheme completes £255m buy-in
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December 16, 2019
On the go: The ESAB Group Limited Pension & Life Assurance Scheme has completed a £255m buy-in with Rothesay Life.
Top civil servants with pensions worth more than £1m
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December 16, 2019
On the go: The UK’s permanent secretaries – 23 individuals who head up government departments – had an average defined benefit pension worth £1.1m in 2018-19, according to new research from the TaxPayers’ Alliance.
DB schemes still fit for purpose
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December 13, 2019
When Michelle Ostermann came to the UK to work for RPMI Railpen, in the beginning of 2019, she was surprised by the number of closed corporate defined benefit schemes in the UK.
Accounting rules change could see charities leave multi-employer DB
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December 13, 2019
On the go: Charities participating in multi-employer defined benefit schemes will have to disclose their individual liabilities, which could lead to these organisations opting to leave and setting up their own final salary plan, an expert warned.
Time to get creative with member communication
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December 13, 2019
Trustees should find new ways of engaging with members about pension scams, writes deputy editor Maria Espadinha
When doing the right thing can get you stung
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December 12, 2019
How trustees can avoid maladministration claims over pension transfer scams.
Master trusts forced to up reserves due to levy increase
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December 11, 2019
Master trusts will be hit twice by a general levy increase, since in addition to a cost hike these schemes will also have to boost their reserves in case of a wind-up, and face added scrutiny from the regulator as a revised business plan could be expected.