All articles by Maria Espadinha – Page 14
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TPR warns trustees ‘can’t duck’ from climate change
On the go: As new reporting requirements on environmental, social and governance considerations come into force, the Pensions Regulator has warned trustees to build capacity in this area as climate change is a fundamental consideration for schemes.
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PPF sets levy at £520m for 2021-22
On the go: The Pension Protection Fund has set its levy at £520m for 2021-22, which is £100m lower than the previous year.
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Should ‘too-big-to-fail’ schemes be nationalised?
Analysis: The current pandemic-led economic crisis, coupled with the fact that some of the biggest defined benefit schemes are sponsored by quasi-governmental institutions, has led to suggestions that the UK government should nationalise these pension funds.
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TPR investigates DRC holiday abuse
On the go: The Pensions Regulator is investigating a number of companies’ pension schemes for allegedly taking advantage of a relaxation in the deficit repayment contribution rules due to the pandemic.
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Smiths Group completes £142m buy-in with Aviva
On the go: Smiths Group, an industrial technology company, has completed a £142m buy-in transaction with Aviva for the TI Group Pension Scheme.
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New job support scheme risks increasing AE confusion
On the go: The new job support scheme announced by the government on Thursday will increase the risk of employers miscalculating pension contributions for employees, a law firm has warned.
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Border to Coast appoints multi-asset credit managers
On the go: Border to Coast Pensions Partnership has appointed four specialist managers for its multi-asset credit fund, which will have assets worth £2.7bn.
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Govt consults on auto-enrolment tests for DB and hybrid schemes
On the go: The Department for Work and Pensions is questioning whether the current alternative tests used by defined benefit and hybrid schemes for auto-enrolment suitability are fit for purpose.
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DWP launches working group to tackle small pots problem
On the go: The Department for Work and Pensions has launched a working group in collaboration with industry to propose solutions to the challenges posed by small pots.
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DB pension scheme at centre of bidding war for G4S
On the go: A private equity firm, which saw its £3bn takeover proposal rejected by G4S, has complained that it is not being granted access to the security services company’s defined benefit scheme trustees.
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Nest and DWP to analyse Covid-19 impact on self-employed savers
On the go: The government-backed master trust is to examine the financial impact of Covid-19 on self-employed people, with the pandemic delaying its practical tests expected this year.
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Calls for govt to rethink auto-enrolment contributions
On the go: Wealth manager Quilter is urging the government to allow low earners who opt out of auto-enrolment to still receive their employer pension contributions.
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Redundant local civil servants face pension cut
Public sector members of the Local Government Pension Scheme aged above 55 who are made redundant and want to retire early will face a cut to their benefits, according to new rules proposed by the government.
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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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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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Hitachi completes £275m buy-in with L&G
On the go: The Hitachi UK Pension Scheme has agreed a £275m buy-in transaction with Legal & General that covers the remaining deferred members and retirees, after a similar deal in 2018 with Scottish Widows.
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Small bulk annuity transactions increase 20%
On the go: The first half of 2020 saw a near 20 per cent increase in the number of bulk annuity transactions under £100m, when compared with the same period last year, according to analysis from Aon.
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USS delays scheme valuation
On the go: The Universities Superannuation Scheme has been forced to delay its valuation by two weeks, due to the “urgent and difficult matters relating to A-level results and admissions”.
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Covid-19 adds £10bn to inflation woes
As the government’s consultation to make changes to the retail price index draws to a close, the impact of aligning the inflation measure with the consumer price index including housing costs has increased by £10bn due to the pandemic.
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PodcastsPodcast: TPR to make changes to DB funding ‘fast-track’
Podcast: The Pensions Regulator will make changes to the fast-track approach proposed in its defined benefit funding consultation due to the impact of Covid-19, revealed its executive director of regulatory policy, analysis and advice David Fairs.