Latest articles from Tom Dines

Invensys extends Pie to pensioners

Invensys Pension Scheme is expanding its pension increase exchange offering to retired members, as the company plans a bulk exercise for dependants and pensioners.

Longevity v interest rates – which poses the biggest risk for schemes?

Rising life expectancy poses a greater risk to UK corporate pension schemes than low interest rates, a report this week has suggested, but some industry experts have challenged the finding.

Cambridge uni scheme scrutinises opt-outs in prep for re-enrolment

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Cambridge University Assistants’ Contributory Pension Scheme is examining the causes of opt-outs as it prepares to re-enrol members into its hybrid scheme next year.

BBC to lay on financial advice for members looking at transfers

The BBC is to offer paid-for independent financial advice to help members get the most from the pension freedoms, in particular to support those considering transferring their assets.

Black Monday underscores need for robust strategies

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Proactive investment strategies are key for protecting schemes in times of high volatility, experts have said, as ripples from the Chinese market rout reinforce the need for scheme triggers.

Regulator releases further covenant guidance

The Pensions Regulator has issued new guidance on assessing employer covenants aimed at preventing smaller or highly funded schemes from wasting time and money on costly advice.

Mind the gap(s) – consultation on advice launched

FCA

From the blog: The Financial Conduct Authority last week launched a review of the financial advice market, as the industry calls for greater clarity and accessibility around guidance and advice.

The review was welcomed by many in the industry, as increasing complexity from last year's 'freedom and choice' pension reforms have increased the need for financial advice.

The review launched on Monday, August 3, and will examine the gap between the free guidance offered by the Pensions Wise service and professional advice that is typically only available to more wealthy individuals.

Click here to read the full blog post

Is your scheme spending enough time on administration?

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Any Other Business: Trustees of pension schemes are required to oversee all aspects of scheme administration while navigating the complexities of investment, policy change and benefit design. 

IORP amendment threatens pot-follows-member

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A draft report from the European Parliament committee on economic and monetary affairs has threatened the possibility of pot-follows-member legislation being introduced, lawyers have warned.

GKN saves £7m with Pie

Bloomberg

Automotive and aerospace company GKN has made a £7m saving on its pension scheme following completion of a pension increase exchange exercise.