Lloyds Banking Group now has a single trustee board for its four largest pension schemes, after completing its second pension trustee board merger in three years.
More schemes offering member concessions on DB closure
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June 18, 2019
The number of defined benefit funds undertaking benefit reviews has soared since 2014, recent research has revealed, prompting yet more scheme closures amid a growing tendency to offer member concessions.
Nuclear scheme calls out Prudential for poor value and switches
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June 13, 2019
Trustees of the Combined Nuclear Pension Plan have dropped Prudential as their defined contribution provider in favour of Aegon, after member-borne charges for the default and other options were rated "below average" in an assessment of value for members.
Arcadia CVA proposals approved
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June 12, 2019
On the go: All seven of Arcadia’s company voluntary arrangements have been approved by the required majority of the retailer’s creditors.
CMA takes final step in reform of fid man and consultancy sectors
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June 10, 2019
On the go: The Competition and Markets Authority has issued a legally binding order requiring investment consultants and fiduciary managers to provide clearer information about what their customers are getting for their money.
UK charities feel strain of DB scheme funding
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June 3, 2019
Data crunch: UK charities are feeling the strain of defined benefit funding – with the average FRS102 pension deficit equalling almost a fifth of unrestricted assets across the 40 largest charities by income in England and Wales.
University of Birmingham replaces GPP with master trust
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May 28, 2019
The University of Birmingham has replaced its group personal pension plan with a master trust administered by a different provider, following a review of staff retirement savings arrangements.
UMSS focuses on sustainability with new equity manager appointments
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May 23, 2019
The £609m University of Manchester Superannuation Scheme has appointed two new equity managers who invest in companies picked on sustainability grounds.
Phoenix moves to simplify own scheme's benefits with PIE
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May 21, 2019
Nearly two fifths of eligible pensioners in a scheme sponsored by Phoenix Group have accepted a pension increase exchange offer, which has shaved about £20m from the bulk annuity insurer's liabilities.
Schemes are now part of a sea change in ESG investing
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May 20, 2019
Editorial: Pension funds are set to engage with issues such as climate change more than ever before, as regulatory developments and increased awareness push environmental, social and governance considerations up the agenda.