The Work and Pensions Committee is questioning the Pensions Regulator on the sponsorship of Barclays Bank’s pension scheme in relation to the company’s restructuring plans.
DWP publishes four-year plan
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January 19, 2018
The Department for Work and Pensions has set out its objectives for the next four years. The department is looking to support productivity, disabled people and child maintenance provision. It has also stated a number of aims concerning retirement.
PPF releases update on contingent asset agreements
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January 19, 2018
The Pension Protection Fund has published revised standard form agreements for contingent assets, along with new guidance. The update follows the December publication of the final rules for the PPF Levy for 2018-19.
The Weekly Wrap: January 19 edition
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January 19, 2018
A round-up of the pensions news stories published across the FT Group in the past week, from continued fall-out from the Carillion scandal, to a North American pension fund missing out on $400m (£288m) in potential stock gains.
GKN hits out at Melrose over pensions
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January 19, 2018
Engineering company GKN has rejected what it said are indirect claims made by unsuccessful bidder Melrose Industries that GKN's pension liability has increased due to delays in closing its main scheme to accrual.
Employers need individual guidance to navigate VAT rules, accountants say
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January 18, 2018
The Pensions Research Accountants Group has responded to recent HM Revenue & Customs changes to the VAT treatment of pension fund costs, advising schemes to seek guidance on their individual circumstances.
Transfer values hold firm in 2017
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January 17, 2018
Pension transfer values in 2017 collectively stood at £236,000, up slightly from £234,000 in 2016. The measurements from consultancy Xafinity Punter Southall indicate a difference between maximum and minimum transfer value of £17,000.
GKN trustees say hostile takeover must respect pension obligations
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January 16, 2018
Trustees of GKN’s pension schemes have stressed that any potential buyer of the company, which rejected an unsolicited takeover approach from Melrose Industries last week, should be aware of the scheme’s recent funding positions.
Field probes administrator on Palmer & Harvey pension situation
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January 15, 2018
The select committee has written to the administrators of collapsed wholesaler Palmer & Harvey, with a series of questions about the company’s finances and operations, and the position that leaves the pension fund in.
Carillion collapse leaves scheme facing PPF
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January 15, 2018
Contractor Carillion has entered into compulsory liquidation, with its 28,000 defined benefit pension scheme members set to transfer into the Pension Protection Fund, at a cost to the lifeboat of more than £587m.