All articles by Maria Espadinha – Page 23
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News
PPF reaches 1,000th scheme transfer milestone
On the go: The Pension Protection Fund has accepted its 1000th scheme with the transfer of Carillion Rail, a section of the Railways Pension Scheme with almost 4,000 members.
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Brunel eyes full transition of scheme assets by end of 2020
On the go: The Brunel Pension Partnership is aiming to complete the transition of assets from its partner funds by the fourth quarter of 2020, by which point it expects to have launched the majority of its portfolios.
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Private school teachers threaten strikes over pensions
On the go: Teachers in private schools are threatening to strike, as a massive increase in contributions is leading to many of these institutions leaving the Teachers’ Pension Scheme.
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NewsLocal schemes urge Barclays to stop financing fossil fuel companies
Several local government pension schemes are asking Barclays to publish a plan to gradually phase out its financing of fossil fuel companies, as the bank has provided more than $85bn (£65bn) to such companies since the Paris Agreement was signed in 2015.
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Majority of employers planning to review pensions provider in 2020
On the go: Eighty-seven per cent of employers are looking to review their pension provider in the next 12 months, according to new research from investment platform Smarterly.
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News
Nest Invest gets green light from FCA
On the go: Nest Invest, the investment subsidiary created by the master trust alongside its move into private credit, has been authorised by the Financial Conduct Authority.
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Most schemes considering joint GMP rectification and equalisation
Most pension schemes expect to combine their guaranteed minimum pension rectification and equalisation projects, new data suggest, as experts said this can simplify member communications and increase efficiencies for trustees.
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Titanic shipyard scheme enters PPF assessment
On the go: Harland and Wolff Pension Scheme, the Belfast shipyard that built the Titanic, has entered an assessment period at the Pension Protection Fund after the company went into administration.
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News
Providers divided on mandatory simpler annual statements
Workplace providers such as Smart Pension and PensionBee are supporting the government’s intention to introduce a standardised annual statement, with calls for legislation if take-up from schemes does not increase.
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Opperman promises ‘refined’ Pension Schemes Bill
On the go: The Pension Schemes Bill has been included in the Queen’s Speech delivered on Thursday, with pensions minister Guy Opperman stating it will be a refined version from the previous document.
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PPF only needs to hike benefits if member faces poverty risk
The European Court of Justice ruling on the Bauer case has been described as a “welcome relief” for the Pension Protection Fund, as the lifeboat will only have to up member benefits if the individual is living below the at-risk-of-poverty threshold.
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Large employers to face higher PPF levy in 2021
On the go: The Pension Protection Fund is proposing changes to its levy risk assessment model, which will result in increased charges for larger employers.
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News
Thousands of firefighters to return to pre-2015 pensions
On the go: An employment tribunal ruled on Wednesday that more than 6,000 firefighters are entitled to return to pre-2015 public sector schemes, following similar decisions for other affected civil servant groups.
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News
Opperman reappointed pensions minister
On the go: Guy Opperman remains as minister for pensions and financial inclusion after being reappointed as MP for Hexham.
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DB schemes pursuing riskier investments, TPR warns
On the go: Some defined benefit schemes are are pursuing more risky investment strategies that seek extra returns, which could be damaging in the event of adverse economic shocks, the Pensions Regulator warned.
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News
Recruitment agency fined for avoiding AE duties
On the go: A recruitment agency and its managing director have been ordered to pay £10,890 for avoiding their auto-enrolment duties and misleading the Pensions Regulator by falsely claiming staff had been put into a workplace pension.
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News
Electricity Supply scheme completes £805m pensioner buy-in
On the go: The Electricity North West Group of the Electricity Supply Pension Scheme has completed a £805m pensioner buy-in with Scottish Widows.
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News
Nest considers 1.5C target for climate change fund
Data crunch: The government-backed workplace provider Nest is testing ways to adopt a 1.5C goal for its Climate Aware Fund, to better reflect the “quickly evolving nature of climate change risk” and its impact on members’ investments.
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News
IGCs face ‘huge challenges’ with extended oversight remits
The new rules coming into force for independent governance committees – taking oversight of the provider’s policy on environmental, social and governance factors, and guaranteeing the value for money of new investment pathway solutions – have been branded a “huge challenge” by industry experts.
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News
Part-time judges win court case
On the go: Four judges have seen the Supreme Court rule in favour of their appeal to reclaim a pension, in a case that could cost the government £1bn.