All LCP articles – Page 8
-
NewsIndustry focus shifts toward the ‘S’ in ESG
Three quarters of Pensions and Lifetime Savings Association members intend to review their social policy in the coming year, according to its response to the government’s consultation focusing on social risks and opportunities for occupational pension schemes.
-
NewsQinetiQ scheme completes buy-in with L&G
On the go: The £2bn QinetiQ Pension Scheme has completed a £130m buy-in with Legal & General Assurance Society. LCP acted as the lead adviser on the transaction and provided derisking advice.
-
PodcastsPodcast: Trustees should focus more on scheme admin in anti-scam fight
Podcast: The Pensions Ombudsman has declared schemes should have their transfer and due diligence procedures updated within a month of new anti-scams guidance. Compliance will require a huge amount of administrative time and resources, and trustees should give scheme administration more focus. LCP partner Francesca Bailey and Pensions Management Institute president Lesley Alexander talk scams, dashboards and corporate activity.
-
NewsA third of DB schemes now have professional trustees
On the go: The number of defined benefit schemes with a professional trustee on its board has increased by 60 per cent in five years, with a third of pension funds now using these services, according to consultancy LCP.
-
NewsTUI pension schemes agree £800m buy-ins with L&G
On the go: The circa €2.4bn (£2.1bn) TUI Group UK Pension Trust, comprising the BAL Scheme, TUI UK Scheme and TAPS Scheme, has secured two buy-ins worth around £800m with Legal & General Assurance Society.
-
NewsFTSE 100 scheme funding stays flat despite £200bn contributions
On the go: FTSE 100 companies have seen the funding position of their defined benefit schemes remain broadly unchanged since the financial crisis, despite sponsor contributions of more than £200bn, a report by LCP has shown.
-
NewsMPs urged to tweak 25% tax-free cash rules
On the go: Pensions consultancy LCP has proposed new rules that would allow pension savers to access tax-free cash at a normal minimum pension age while leaving the remaining balance behind.
-
NewsDWP admits DC chair’s statements fail policy objective
The Department for Work and Pensions has acknowledged that the introduction of chair’s statements has failed to meet the policy objectives set out by the department in 2014.
-
NewsFirstGroup pension schemes benefit from asset sales
On the go: The pension schemes of multinational transport company FirstGroup stand to benefit from the £3.3bn sale of its First Student and First Transit assets to private equity company EQT Infrastructure.
-
NewsJust 19 per cent say TPR criminal powers policy is 'adequately clear'
A mere 19 per cent of people said the Pensions Regulator’s draft policy on the use of its new criminal powers is “adequately clear”, while 65 per cent said they feared it could prompt companies to ditch their pension arrangements, leaving the regulator with much to do to win back industry trust.
-
NewsIndustry calls again for clarity as TPR criminal consultation closes
The pensions industry has once again united in its calls for clarity as a consultation into the scope and application of the Pensions Regulator’s new criminal powers comes to a close.
-
News
Schemes to spend £1.5bn on GMP equalisation past transfer top-ups
New research from Buck suggests the bill for equalising guaranteed minimum pension benefits in past defined benefit scheme transfers continues to grow, with at least £1.5bn needed for schemes to top up these historic transactions.
-
NewsPandemic could have modest impact on mortality rates
On the go: If Covid-19 is confined to the two waves already registered, and the vaccination rollout programme is successful, the pandemic’s effect on mortality rates is likely to be marginal, new research from LCP has revealed.
-
News
Independent schools’ TPS phased withdrawal to start in August
On the go: Independent schools will be allowed to gradually phase out their participation in the Teachers’ Pension Scheme, with the new regulations coming into force in August.
-
News
Experts dismiss national pension fund proposal
Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.
-
News
Over half of DB-listed sponsors at risk claimed pandemic support
More than half of defined benefit-listed sponsors that are currently at high risk of insolvency made a claim for government support in December, and could face uncertainty when this lifeline comes to an end, according to analysis from EY.
-
News
HMRC sets final GMP reconciliation deadline
On the go: HM Revenue & Customs has set July 31 as the final deadline for defined benefit schemes to request their final guaranteed minimum pensions reconciliation data cuts.
-
News
Alternative funding structures attracting 75% of DB sponsors
On the go: As many as three in four defined benefit scheme sponsors could be using contingent funding as an alternative to the traditional deficit recovery contribution route, according to analysis from LCP.
-
News
Govt chooses full indexation of GMPs for public sector schemes
The Treasury has decided to abandon the idea of converting guaranteed minimum pension benefits in public sector schemes, opting for a permanent extension of full indexation, which will be more expensive for private pension funds that are forced to mirror government rules.
-
News
Govt to clear up 'scheme pays' issues in McCloud remedy
On the go: The government will amend pension tax rules to make it easier for those who incur annual allowance charges as part of McCloud remedies to pay these through the pension schemes.