Siemens, one of the world's largest electrical companies, is allowing its defined benefit scheme to make payments to the sponsoring employer, as schemes scramble to maintain their ability to prevent trapped surplus.
Tax, cyber crime and covenant guidance: what to look out for in 2016
|
January 4, 2016
The pensions industry has had to deal with changes across many fronts in the recent past. 2015 was no exception, bringing proposals for Local Government Pension Scheme pooling, the introduction of freedom and choice and the beginning of re-enrolment.
Indecision and fear: tax changes threaten the role of pensions in employee benefits
|
December 22, 2015
From the blog: More than half of schemes are considering offering a cash allowance to members affected by pension tax changes, as alterations to the lifetime allowance threaten to drive high-earners away from workplace pensions.
Reductions to the lifetime allowance to £1m from April next year from £1.8m in 2010 combined with proposed changes to the tax treatment of pensions could drive high earners to seek other forms of saving.
A survey released this week by consultancy PwC, which received 130 responses from businesses of a range of sizes, showed 51 per cent were in discussion over offering a cash allowance to members affected by tax changes.
Top 5 law and regulation stories from 2015
|
December 16, 2015
Year in Review: Coming on the heels of a year that saw some of the most profound changes to the UK pensions system in recent times, anyone could have expected 2015 to be muted by comparison.
Scapa saves £600k through flexible retirement exercise
|
December 14, 2015
Adhesive tape manufacturer Scapa Group has saved around £600,000 by offering flexible retirement options to some deferred members of its defined benefit scheme, clearing more than £10m of liabilities.
Just over half of LGPS have procedures for legal breaches
|
December 11, 2015
A little over half of public sector pension schemes have procedures set up to handle breaches of law, but experts have said scheme governance is improving markedly among local government pension schemes.
Secondary annuities: Govt starts putting down advice parameters
|
December 10, 2015
Many pensioners hoping to sell their annuities on the open market will be required to seek financial advice before doing so, the government has announced, as the industry awaits further detail on the structure of the secondary annuity market.
DB funding pressure rises but scheme closures plateau
|
December 4, 2015
Data Analysis: The aggregate funding level of UK defined benefit schemes has deteriorated again despite asset allocation trends moving towards lower-risk investments, but the number of schemes open to new members has stayed level.
Voluntary saving is vital to avert poor pension outcomes
|
December 2, 2015
Data Analysis: Auto-enrolment and voluntary pension saving are critical to ensure good outcomes for UK retirees, a report looking at international replacement rates this week has warned.
The Pensions Trust tackles state pension confusion
|
December 1, 2015
The Pensions Trust has updated member communications to prepare for the end of contracting out, as research has shown low levels of understanding about the state pension changes.
Most Viewed
- TPR to scrutinise ‘systemically important’ professional trustee firms
- Border to Coast bags two awards at Investment Innovation Summit
- What does Labour have in store for the pensions industry?
- ‘A fundamental point of fairness’: MPs call for action on discretionary increases
- TPR: Time is running out to clean up your data