Latest articles from Maria Espadinha

Govt and regulators urged to review chair statements

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Podcast: Government and regulators should rethink schemes’ chair statements, as they have become a regulatory compliance tool for the pensions industry, according to Darren Philp, director of policy and communications at Smart Pension, and Judith Fish, professional trustee at Dalriada Trustees. The experts discuss, among other subjects, the recent fine received by the Financial Conduct Authority from the Pensions Regulator due to pension failures.

Schemes to contribute £1m to Financial Reporting Council levy

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On the go: Pension schemes are being asked to contribute £1m to the Financial Reporting Council levy, which will rise to £47.2m in 2020-21 from £41.7m in 2019-20.

FCA drops cost requirement for all contract-based funds

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On the go: The Financial Conduct Authority has ditched a requirement for workplace pension providers to disclose and illustrate the impact of charges on all of their defined contribution funds, after industry concerns were raised in consultation.

Kent Council Fund recoups £139m from Woodford investment

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On the go: The Kent County Council Superannuation Fund will receive £139m from its investment in Woodford Investment Management’s flagship fund, though this still leaves the scheme with a £99m shortfall.

TPR: Companies must engage early with regulator on CVA’s

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On the go: Firms considering a company voluntary arrangement must engage early with the regulator in the process and provide full information, the Pensions Regulator has warned.

Pension funds’ recovery in question as Norton enters administration

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On the go: Norton Motorcycles has gone into administration, raising questions about recouping money in three pension funds solely invested in the motorcycle manufacturer.

Church of England invests £600m in ESG equity fund

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On the go: The Church of England Pensions Board plans to allocate £600m to a fund tracking a climate-friendly index, aiming to align its pension schemes with the goals of the Paris agreement.

Co-op pension scheme completes £1bn buy-in

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On the go: The Co-operative Pension Scheme has completed a £1bn bulk purchase annuity transaction with Aviva.

Criminal sanctions could deter businesses and trustees, Lords warn

The government has been urged to review the scope of new criminal sanctions introduced by the pension schemes bill that have “been drawn incredibly widely” and could “deter respectable people from becoming trustees”.

Lloyds pension schemes agree to £10bn longevity swap

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On the go: The trustee of the Lloyds Bank pension schemes has agreed to a £10bn longevity swap deal with Scottish Widows and Pacific Life Re.