All LCP articles – Page 11
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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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News
2020 set to be a record-breaking year for longevity swaps
On the go: Demand for longevity swaps is expected to set new records in 2020, reflecting in part a slight slowdown in the bulk annuity market, according to a report by Willis Towers Watson.
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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.
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News
Are pensions the answer to UK’s £1tn infrastructure gap?
A solution for the regeneration of Britain’s infrastructure could come from pensions, as superfunds could help plug the UK’s £1tn infrastructure gap. However, specialists believe it will be difficult for schemes to achieve the scale needed for these investments to be successful.
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News
Blow to investors as TPR rules risk further dividend drought
On the go: New guidance from the Pensions Regulator could prolong the “dividend drought” currently hampering income investors, experts have warned.
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News
Minister questions schemes on dashboard data readiness
UK pension schemes are being asked by the pensions minister to report on the readiness of their data for the dashboards project, but specialists argue the lack of legislation and data standards could make it difficult to obtain accurate responses.
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News
DB employers mandated to justify further payment holidays
Trustees of defined benefit pension schemes will have to report decisions to allow sponsors to skip or delay deficit payments to the Pensions Regulator from July, as the watchdog drew fire for not insisting on this transparency from the start of its Covid-19 easements.
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News
Schemes to take a £5bn hit as analysts predict deflation
On the go: Pension schemes already suffering the funding implications of Covid-19 could be facing a further £5bn of pressure, as the prospect of deflation later in the year produces a “ratchet effect”, according to analysis by LCP.
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News
Industry bodies lobby government to change insolvency bill
Pensions industry bodies are lobbying the government to make changes to the Corporate Insolvency and Governance Bill, which unless revised will “inevitably lead to more pensioners not receiving their benefits in full and greater strain on the Pension Protection Fund”.
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News
Regulator to issue rules for consolidators ‘in the coming weeks’
The Pensions Regulator is shortly to issue interim regulation covering commercial consolidators, Pensions Expert can reveal.
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News
Regulator repeats anti-scam warning after £5m lost to fraudsters
On the go: The Pensions Regulator has repeated its warning about scammers after a report revealed more than £5m has been lost to fraud since February.
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News
Small scheme bulk annuity deals set for surge in demand
On the go: The number of small scheme buy-ins and buyouts could increase by 25 per cent in 2020, according to research from LCP.