All LCP articles – Page 10
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News
Tisa backs AE pause for strapped low earners but no respite for employers
Analysis: Pensions policy experts are split over whether the government should begin to ramp up automatic enrolment contributions with an ‘opt-down’ for low earners, after recent calls to reform the landmark pensions policy.
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News
Mercer launches DB master trust as demand for consolidation increases
Mercer has launched a new defined benefit master trust promising sponsors enhanced governance and economies of scale, amid an accelerating trend towards consolidation and outsourced solutions, with pensions minister Guy Opperman stating that “bigger is better”.
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News
Bulk annuity volumes hit £12.6bn in H1 2020
On the go: Total buy-in and buyout volumes reached £12.6bn in the first half of this year, the second-highest value on record, according to analysis published by LCP.
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News
LCP: ‘Pot-follows-member’ could solve small pots problem
On the go: The government has been urged to look again at a ‘pot-follows-member’ solution to the small pots problem plaguing auto-enrolment and master trusts.
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News
Employers exiting LGPS to get new powers
On the go: Local Government Pension Scheme administering authorities and employers are to be given a host of new powers, as well as flexibility on exit payments, the government has announced.
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News
Mere 4% of advisers appointed by DB schemes
On the go: Trustees of defined benefit schemes have been encouraged to work with a wider range of financial advisers as it emerged only 4 per cent have been appointed by a scheme.
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News
Marathon scheme completes £610m buy-in with Rothesay Life
On the go: Oil and gas production company RockRose has completed a full £610m buy-in with Rothesay Life for the Marathon Service Limited Pension and Life Assurance Scheme.
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News
DB transfer values rocket to £500k
On the go: The number of defined benefit transfer requests has dropped in the past quarter, but the average value still rocketed to above £500,000.
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News
PPF levy expected to increase due to Covid-19 impact
As insolvencies ramp up and more defined benefit schemes are expected to end up at the Pension Protection Fund, the lifeboat might need to increase its levy to face a multibillion-pound hit, amid several other solutions, analysis from LCP shows.
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News
Calls for government to clarify dashboard data standards
On the go: The government is facing growing calls to “come clean” about what data is required from pension schemes and providers for the pensions dashboard so that the industry can prepare properly, following conflicting reports.
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News
Call for govt to abolish flat fees in workplace pensions
On the go: LCP is calling for an end to flat monthly fees being charged on defined contribution pots, arguing they can be “detrimental” to low-paid and part-time workers, although the government has previously stated it is not considering a ban.
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News
Littlewoods scheme buys in remaining £930m with Rothesay
On the go: The Littlewoods Pensions Scheme has secured almost £1bn of its defined benefit liabilities with insurer Rothesay Life, with the plan’s pension promises now completely covered by bulk annuity contracts.
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Features
Sunny DB analysis masks trouble ahead
Data crunch: Detailed analysis of triennial valuations with due dates up to December 2019 confirm the gradual improvement in the security of defined benefits in the UK, but experts warn that care is needed to keep schemes on track this year.
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News
DB schemes should beware lockdown ‘inertia’
On the go: Three in four defined benefit schemes say they have taken no material action to change their investment strategies or journey plans as a result of Covid-19, but a new report from LCP warns that “inertia” could prove damaging.
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News
New DB funding code could imperil sponsors and members
Some of the proposals in the Pensions Regulator’s consultation on a new defined benefit funding code could lead to worse outcomes for scheme sponsors, members and the Pension Protection Fund, according to a new report by LCP.
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News
New GMP guidance stops short of clarifying rules around conversion
New guidance on guaranteed minimum pensions has clarified the tax implication of equalising past inequalities between men and women, but critics have said it leaves unaddressed important questions for schemes hoping to convert GMPs into regular scheme benefits.
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News
ONS indicates master trust transfer spike as experts demand opacity
Data crunch: A massive spike in defined contribution transfers could signal frantic consolidation in the master trust sector, as experts call for clearer data from the Office for National Statistics.
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News
Lords commit TPR to preserving open DB schemes
The House of Lords has amended the pension schemes bill to ensure that open defined benefit schemes are not forced to derisk their investments in the same way as closed plans, in one of four defeats suffered by the government.
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News
Government plans to push ahead with small scheme consolidation
On the go: The government looks set to press ahead with plans to encourage small schemes to consolidate, according to analysis of consultation documents by LCP.
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NewsPPF cap is age discrimination, court rules
A High Court judge has ruled that a key feature of the Pension Protection Fund’s benefit structure is illegal on age discrimination grounds, leaving the defined benefit lifeboat liable for back payments to wealthier pension members.