One-third of Muslims in the UK do not have a pension due to the lack of sharia-compliant pension options, missing out on an estimated £12.8bn in savings for retirement, which has prompted calls for trustees to introduce Islamic funds in defined contribution schemes.
Cushon acquires Northern Ireland master trust
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June 3, 2021
On the go: Pension provider Cushon has acquired the Workers Pension Trust, a master trust in Northern Ireland, after raising £26m in a funding round.
TfL to review pension scheme as part of new funding package
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June 1, 2021
On the go: Transport for London will be conducting a review of its £10.6bn defined benefit scheme as part of a new government package.
Two-thirds of schemes to increase allocation to social investments
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May 28, 2021
On the go: Sixty-six per cent of pension schemes expect to increase their allocation to social investment passive funds over the next three years, new research has shown.
Ombudsman gives providers a month to update transfer processes
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May 25, 2021
The Pensions Ombudsman expects pension providers to update their transfer processes, due diligence checks and member communications within one month of the new scams regulatory guidance being issued.
FTSE 100 scheme funding stays flat despite £200bn contributions
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May 24, 2021
On the go: FTSE 100 companies have seen the funding position of their defined benefit schemes remain broadly unchanged since the financial crisis, despite sponsor contributions of more than £200bn, a report by LCP has shown.
Co-op pensions aim to achieve net-zero by 2040
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May 21, 2021
On the go: The Co-op has partnered with the Make My Money Matter campaign to engage with its employees in order to increase transparency on how their pension pots are invested and better understand their sustainability priorities.
Trustees not fully aware of new code of practice requirements
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May 20, 2021
On the go: Many trustees are not fully aware of the requirements of the Pensions Regulator’s new code of practice, a survey by Barnett Waddingham has found.
Demand for punchier real estate debt strategies on the rise
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May 20, 2021
On the go: Demand for punchier real estate debt strategies among Bfinance’s international institutional client base grew significantly in 2020 and remained strong in 2021.
New code of practice makes life ‘harder’ for LGPS funds
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May 19, 2021
On the go: The Pensions Regulator’s new combined code of practice risks making life “harder" for Local Government Pension Scheme funds, and more needs to be done to accommodate their specific needs.