All Governance articles – Page 6
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NewsOpperman slates lack of long-term vision in pensions, hints at reshuffle
Pensions minister Guy Opperman has suggested a reshuffle may be on the cards, and has criticised a perceived lack of long-term vision in the pensions industry.
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NewsFTSE 100 firms lagging on data, half of schemes have impact investments
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with a majority of FTSE 100 companies still failing to disclose diversity and welfare data in their annual reports, and Big Society Capital finding that half of all UK pension funds now hold some form of impact investment.
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NewsMcCloud legislation on track for April
On the go: Secondary legislation necessary for the implementation of the McCloud remedy is on track to be published by April 1, and another round of consultations is due before October, the government has confirmed.
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NewsDashboards’ staging deadline too ambitious for LGPS
The government’s timetable for dashboards’ integration is likely to be too ambitious for the Local Government Pension Scheme, with administering authorities bogged down by other challenges, its pensions committee has warned.
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NewsLGPS Russian exodus under way as TPR tells trustees to ‘be vigilant’
Local Government Pension Scheme funds are racing to slash their portfolios’ exposure to Russia and reassure members over the crisis, while the Pensions Regulator has issued new guidance to trustees expecting them to “be vigilant” on this matter.
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NewsDC focus turns to member outcomes but retirement uncertainty remains
Data crunch: Despite almost half of defined contribution schemes now stating their main aim is to deliver adequate retirement income for members, 63 per cent do not know what is the expected outcome for a typical member at retirement, according to new research.
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NewsNest piles pressure on Unilever over healthy eating
On the go: Nest has backed a resolution calling on consumer goods giant Unilever to make its food products healthier.
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NewsLawsuit against USS to proceed as High Court overturns dismissal
On the go: A lawsuit against Universities Superannuation Scheme directors over their handling of the scheme’s 2020 valuation is to proceed, after the High Court ruled against attempts to deny the legal action.
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NewsTPR publishes example to help trustees with new ESG duties
On the go: The Pensions Regulator has published an illustrative example to help trustees and advisers comply with their environmental, social and governance duties, as it revealed it will start contacting schemes that are now in the scope of the new regulations.
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NewsMPs back amendment against political divestments by LGPS
MPs in the House of Commons have approved an amendment that would allow ministers to issue guidance stymieing the ability of public sector pension schemes, including the Local Government Pension Scheme, to pursue politically motivated boycotts and divestment policies.
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NewsCornish pension scheme agrees £11mn buyout with L&G
On the go: The circa £11mn Cornish Mutual Assurance Company Staff Pension Scheme has agreed a buyout with Legal & General Assurance Society.
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NewsTrustees still conflicted between fiduciary duties and ESG goals
The desire to play a part in saving the planet is seen by some trustees as conflicted with the primary goal of delivering financially for investors.
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NewsBuck launches ‘gap analysis’ governance solution
On the go: Buck has launched a new “gap analysis” governance tool designed to help schemes navigate the Pensions Regulator’s forthcoming combined code of practice.
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NewsRoyal Mail moves ahead with CDC scheme after consultation
On the go: Royal Mail, the Communication Workers Union and Unite have agreed to progress plans to introduce a new collective defined contribution scheme, the first of its type in the country, following a consultation with members.
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NewsMadeline Forrester appointed PPI chair of council
On the go: The Pensions Policy Institute has appointed Madeline Forrester as its new chair of council.
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NewsClimate change could impact sponsor cash flow and longevity
On the go: Climate change could have significant impact on sponsor covenant, hitting cash flows and potentially impacting sponsor longevity, according to a report from the Employer Covenant Practitioners Association.
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NewsEx-Norton owner pleads guilty to illegally investing pension funds
The former owner of Norton Motorcycles has pleaded guilty to the charge of illegally investing pension scheme money in his failing company.
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NewsScottish Widows to invest in companies driving decarbonisation
On the go: Scottish Widows will invest up to £25bn by 2025 in businesses that it views as leading on decarbonisation and climate-aware solutions, according to the company’s new climate action plan.
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NewsAlternative assets could give DC higher returns with no extra risk
Alternative assets could present defined contribution schemes with a means to increase value for members without taking on any extra risk, according to a new report from the Pensions Policy Institute.
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NewsGovt proposes ‘find and view’ dashboards amid public sector delay
The government will be moving forward with the ‘find and view’ functionality on pensions dashboards from launch day, despite industry concerns about the size of the task ahead, while it acknowledged that public sector schemes will only be onboarded in 2024 due to the “considerable work” caused by the McCloud remedy.