All LCP articles – Page 4
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NewsOpperman blames Webb for state pension errors
On the go: Pensions minister Guy Opperman has blamed Sir Steve Webb for the litany of state pension failures the Department for Work and Pensions is now dealing with.
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NewsFTSE 100 schemes hit new record surplus
On the go: FTSE 100 schemes have entered “uncharted territory” after reaching a record combined surplus of £130bn, according to LCP.
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NewsPandemic to affect life expectancy ‘by less than 1%’
On the go: Insurers only expect the coronavirus pandemic’s impact on future mortality improvements to affect life expectancy by less than 1 per cent, the Institute and Faculty of Actuaries has said.
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NewsRise in number of DB schemes appointing advisers to continue
On the go: A growing number of defined benefit pension schemes are offering new benefits to members such as appointing a financial advice company, according to consultancy LCP.
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NewsDWP to consider remedies after pension mispayments
On the go: The Department for Work and Pensions has said it is investigating remedies after millions of people have received the wrong pension for decades due to government IT failures.
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NewsDWP gives schemes greater scrutiny of asset managers on voting
Pension schemes will be able to use the asset manager tender process to challenge prospective managers on how they would vote on shareholder resolutions, the government has said.
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NewsHouse of Fraser scheme secures £600mn buyout
On the go: The House of Fraser Beatties & Jenners Pension Scheme has completed a £600mn buyout with Pension Insurance Corporation, covering 3,850 deferred members and 5,050 pensioners.
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NewsDWP questions industry on Nest’s fund offering
The Department for Work and Pensions is gathering views on support available to scheme members when making savings decisions, and is questioning the industry on whether Nest’s current offering is sufficient.
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NewsNearly a third of DB trustees think net zero ‘isn’t relevant’
On the go: Thirty per cent of defined benefit pension trustees think efforts to push their schemes towards net zero emissions “isn’t relevant to them”, according to new research.
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NewsTPR chief backs using tax returns to bring self-employed into pensions
The Pensions Regulator’s chief executive, Charles Counsell, has backed using self-assessment tax returns to encourage more self-employed to save into pensions, in a bid to tackle huge levels of pensions under-saving in the cohort.
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NewsState pension errors continue despite correction exercise
On the go: The Department for Work and Pensions has been accused of continuing to “wrongly” tell women they have no pension entitlement when, in some cases, they were due thousands each year.
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NewsFTSE 100 schemes see surplus hit £100bn record
On the go: Defined benefit schemes sponsored by FTSE 100 companies have seen their surplus on an IAS 19 basis hit a record £100bn in mid-May, according to new analysis.
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News‘Flurry of activity’ expected in the bulk annuity market
On the go: The buy-in and buyout market is expected to have a “flurry of activity” over the next 12 months as defined benefit schemes look to accelerate their derisking plans, according to LCP.
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NewsMindset shift key to private markets in DC, trustees told
Allocating capital to long-term illiquid assets requires a shift in focus from cost to value, according to panellists at the Pensions and Lifetime Savings Association’s investment conference.
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NewsLess than half of savers care about pension charges
On the go: Mortgage and bank account charges draw the attention of a higher proportion of savers than pension costs, according to new research.
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NewsJust two-thirds of master trusts will deliver ‘moderate’ retiree outcomes
On the go: There is at least a 600 basis point difference in returns between the top and bottom-performing master trust providers due to a wide variety of approaches to default investment strategies, according to research by LCP.
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News60% of pension funds don’t expect to meet net zero goals
Sixty per cent of a group of large pension funds across North America, Europe and Australasia believe they will fail to achieve their net zero goals under current conditions, new research has revealed.
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NewsTesco: 9 in 10 members seek trust and safety in an ESG strategy
Members want a responsible investment strategy to deliver growth, but they also want to have trust in their scheme and ensure their savings are safe, according to research on Tesco’s defined contribution scheme members.
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NewsScheme costs ‘could increase’ under plans to promote illiquids in DC
The Department for Work and Pensions’ plans to promote investment in illiquid assets could end up increasing costs for members and raise the regulatory burden on schemes without improving retirement outcomes, consultants have warned.
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NewsWorcestershire invests in climate fund, insurers lock in net zero targets
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including the Worcestershire County Council Pension Fund investing in a climate fund, bulk annuity insurers all having set net zero targets, and the Church of England Pensions Board slashing the carbon intensity of its holdings by a fifth.