The National Audit Office has called on civil service pension scheme MyCSP and the Cabinet Office to increase employer involvement in a report examining problems with the scheme’s transition to in-house administration.
Named and shamed: Should trustees publicly criticise service providers?
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February 8, 2016
Any Other Business: This week, Financial Times columnist Lucy Kellaway created a buzz by publicly rebuking the head of marketing and communications at technology company Hewlett Packard Enterprise over an email he sent her criticising an article she had written.
Rise in member contributions at Scottish Power shows impact of online tools
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February 8, 2016
Energy company Scottish Power has seen a tenth of its stakeholder pension plan up their contributions following the introduction of a member portal that models pension outcomes and warns if an individual is likely to miss their target.
RM deficit reduction highlights need to be proactive
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February 8, 2016
Online teaching tools supplier RM has shortened its recovery plan and reduced its deficit by more than £10m using a combination of contributions, updated member information and a buy-in.
Scottish ruling creates confusion for pensions lawyers
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February 8, 2016
Pensions lawyers need guidance on how to treat antiquated or onerous scheme rules, experts have said, after Scotland’s highest appeal court ruled that a legal firm must pay more than £62,000 to the Scottish Solicitors Staff Pension Fund.
Cost and complexity increase support for multi-employer schemes
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February 3, 2016
The cost and complexity of running a pension scheme is increasing the appeal of multi-employer schemes, experts have said, as a survey shows industry support for government-backed scheme consolidation.
Renishaw recognises true liability as IFRIC 14 bites
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February 1, 2016
Gloucestershire-based engineering company Renishaw’s defined benefit liabilities jumped £15.6m above the IAS 19 accounting deficit at the end of last year, as experts highlighted the impact the accounting measure IFRIC 14 has on scheme valuations.
DC consolidation driven by more than auto-enrolment
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February 1, 2016
The number of people saving into large defined contribution schemes has more than quadrupled since 2009, figures from the Pensions Regulator have shown, as signs of DC consolidation begin to appear.
Member-borne commission ban could move costs elsewhere
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January 28, 2016
The Department for Work and Pensions has launched a consultation on draft regulations for banning member-borne commission in auto-enrolment schemes, but experts said costs would still need to be shouldered elsewhere.
Enquiries spike ahead of lifetime allowance change
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January 27, 2016
As the deadline for members to take action looms, more savers are realising they might be affected by the planned reduction to the lifetime allowance, leading to a spike in customer enquiries at provider Fidelity.