All LCP articles – Page 5
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NewsDWP makes six further state pension errors since 2007
On the go: The Department for Work and Pensions has made a series of state pension errors, prior to the current large-scale correction exercise, according to a Freedom of Information request.
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NewsPension receipts to reach £1.7bn amid rise in cost of living
On the go: The Office for Budget Responsibility has revised its forecast of tax paid when people access their pension funds, expecting it to reach £1.7bn in 2021-22.
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NewsIndustry split on auto-enrolment reform timetable
On the go: Experts are split on whether increasing auto-enrolment contributions to 12 per cent can be achieved by the end of the decade.
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News‘Core’ bulk annuity deals hit record level in 2021
On the go: Bulk annuity deals of £1bn or under reached a new high in 2021, in a year that saw volumes driven by momentum in the second half, according to Mercer research.
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NewsAnti-scam rules result in 500 safeguarding interviews to date
On the go: Nearly 500 people have so far completed a pensions safeguarding guidance interview since new anti-scam rules were introduced at the end of November 2021.
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NewsPensions industry fires back at Opperman criticism
Stalwarts of the pensions world have responded to pensions minister Guy Opperman’s suggestion that the industry lacks long-term vision.
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NewsDWP called to intervene in divorced women underpaid pensions
On the go: A bill calling on the government to include divorced women in its efforts to repay those who have been underpaid the state pension has been introduced in parliament.
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NewsTPR’s web-based scheme return questions cause industry mayhem
Actuaries, trustees and consultants are disappointed with a new method introduced by the Pensions Regulator for scheme returns, pointing out that a web-based form with additional questions implemented this year has increased the risk of providing wrong information.
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NewsChurch of England Pensions Board secures £160mn buy-in with Aviva
On the go: The £3.7bn Church of England Pensions Board has agreed a £160mn bulk purchase annuity buy-in with insurer Aviva Life & Pensions UK for its circa £646.1mn Church Workers Pension Fund defined benefit scheme.
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News
How to win a PIPA and influence judges
The March 11 deadline for submissions into this year’s Pension and Investment Provider Awards is fast approaching.
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NewsPandemic could cut FTSE 100 DB contributions by £5bn
On the go: The wider health effects of the coronavirus pandemic could see FTSE 100 defined benefit scheme sponsors slash longer-term contributions by around £1bn a year, new research has revealed.
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NewsPublic sector savers need to sort LTA protections before April
On the go: Members of public sector schemes are being advised to take action before April to keep their protection against lifetime allowance charges, as part of the McCloud remedy.
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NewsAsset manager consolidation and scheme maturation increase fees
On the go: Investment management fees across some asset classes have moved upwards after years of decline, according to new research.
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NewsGovt could tweak transfer amber flag rules for overseas investments
On the go: The Department for Work and Pensions may amend defined benefit transfer scam rules so that low-risk overseas investments are no longer flagged.
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NewsMP proposes to limit LGPS Israeli boycotts association in new bill
An amendment to the upcoming pensions bill tabled by Conservative MP Robert Jenrick, which is aimed at limiting the Local Government Pension Scheme funds’ association with Israeli boycotts, is not expected to be backed by parliament.
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NewsHigh Court confirms Irish pension exclusion from bankruptcy case
On the go: Former property developer Michael McNamara has been allowed to shield his savings in an Irish pension scheme from creditors after the High Court confirmed its own 2020 ruling.
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NewsLGPS funds question government’s ‘levelling up’ investment target
A handful of Local Government Pension Scheme funds and a former pensions minister are unconvinced by the government’s new requirement for these schemes to set out plans for investing up to 5 per cent of their assets in domestic projects, as trustees’ fiduciary responsibilities could come under threat.
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NewsPPF announces specialist panel to assist with overfunded schemes
On the go: The Pension Protection Fund has appointed Hymans Robertson, LCP, Barnett Waddingham and PwC to provide transaction advice to schemes in assessment that are overfunded on a PPF basis.
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NewsNorthern Bank agrees two buy-ins, Phoenix signs reinsurance deals
Riskwatch: A roundup of the latest derisking transactions, including Northern Bank Pension Scheme’s two buy-in transactions with Aviva, and Phoenix Group’s two longevity reinsurance transactions with a MetLife subsidiary.
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PodcastsPodcast: Top tips for success at the PIPAs
Podcast: As the Pension and Investment Provider Awards 2022 have opened for submissions, Barnett Waddingham’s Danielle Markham and Teneo’s Simon Kew — two of this year’s judges — give some tips on what applicants can do to maximise their chances of winning. LCP’s Stephen Budge, the architect of an award-winning entry last year, explains his strategy in creating a submission that allowed the consultancy to achieve gold.