More defined benefit news – Page 86
-
News
Govt u-turns on fees disclosure in simpler annual statement
The government has abandoned plans to make pension providers include costs and charges in their new simplified annual statements, which could become mandatory for defined contribution schemes in the near future as progress in this area remains slow.
-
News
Doctors’ admin saga rumbles on as compensation issued
Doctors are up in arms over a long history of serious pensions administration shortcomings in the lumbering NHS Pension Scheme, some of which are still surfacing.
-
News
TPR eyes pivot to ‘Generation DC’
On the go: The Pensions Regulator has set out long-term priorities for the next 15 years, envisaging a shift in focus towards ensuring the financial wellbeing of defined contribution savers.
-
News
Clara raises capital from Canadian pension-owned reinsurer
On the go: Defined benefit superfund-in-waiting Clara-Pensions has attracted new investment from Wilton Re, as the pensions industry waits for the Pensions Regulator to give either of the two commercial consolidators its blessing.
-
NewsGoing nowhere? Three big ideas to break DB’s 10-year stagnation
Going nowhere? Three big ideas to break DB's 10-year stagnationFor all the talk of endgames that abounds in the defined benefit pensions industry, the inconvenient truth is that funding levels have remained almost completely flat despite a decade of contributions and stellar asset returns. What are the solutions to DB's ...
-
News
DC contributions too small to allow for sustainable retirements
Stagnant incomes, rising wealth inherited later in life, and the relative poverty of defined contribution schemes compared with older defined benefit schemes are all factors that threaten the sustainability of retirement income, according to speakers at the Pensions and Lifetime Savings Association’s annual conference.
-
News
One in five teachers may have incorrect pension entitlements
One in five teachers may be at risk of receiving incorrect information about their pension entitlements, with discrepancies also likely to be found in other decentralised public sector pension schemes with multiple employers.
-
NewsPPF eyes deteriorating credit ratings among DB sponsors
Deteriorating defined benefit sponsor health has led to a three-fold increase in the level of liabilities belonging to schemes that could end up in the Pension Protection Fund over the next 18 months.
-
News
PPF reserves drop 16% due to pandemic
On the go: The Pension Protection Fund saw the value of its reserves decrease by 16 per cent in 2019-20 due to the impact of the markets’ reaction to the Covid-19 pandemic on its return-seeking assets.
-
News
Timms warns transfer rules ‘must be changed’
On the go: Stephen Timms, chair of the Work and Pensions Committee, has warned that transfer rules are not working and must be changed if the industry is to put a stop to pension scams.
-
News
McCloud remedy could take two years to implement, PLSA warns
On the go: The Pensions and Lifetime Savings Association has warned it may take more than two years for the Local Government Pension Scheme to implement the McCloud remedy, casting doubt on the government’s proposed timeframe.
-
News
Govt consultation suggests abandoning GMP conversion
The Treasury has indicated it may axe guaranteed minimum pension conversion in a new consultation, with experts citing administrative costs as a reason to ditch the idea.
-
News
Charity participants in LGPS face going concern issues
An Institute of Chartered Accountants of Scotland report laying out guidance for charity trustees on going concern has prompted a second look at their participation in the Local Government Pension Scheme, with experts warning that many could face crippling debt payments as they run out of members.
-
News
South Yorkshire pensions to go green by 2030
On the go: The South Yorkshire Pensions Authority, responsible for administering the county’s £9bn local authority pension scheme for its 160,000 members, has adopted a net-zero by 2030 policy to govern its portfolio.
-
News
2020 risk settlement market could hit £50bn
On the go: Despite the turmoil caused by coronavirus and the government’s lockdown policy, 2020 could still be a record-setting year for the risk settlement market, with final volumes reaching or even exceeding £50bn, according to estimates from Aon.
-
News
Housing associations could face significant contribution hikes
On the go: The upcoming Social Housing Pension Scheme valuation could reveal a deficit of £1.5bn, almost £500m higher than expected following the last valuation in 2017, according to a report from LCP.
-
News
CDC pensions ‘would be 70% higher’ than traditional DC
On the go: A new guide published by Willis Towers Watson estimates that collective defined contribution pensions would be on average 70 per cent higher than traditional defined contribution, and 40 per cent higher than typical defined benefit schemes.
-
News
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.
-
News
LGPS wades into Israel-Palestine row with UN blacklist engagements
At least two Local Government Pension Scheme funds are undertaking engagements with companies linked to contested Israeli settlements, Pensions Expert can reveal.
-
News
Over-50s alter retirement plans in response to Covid-19
On the go: One in eight older workers have changed their retirement plans due to the coronavirus, according to the Institute for Fiscal Studies, which warned that a third are now in a worse financial situation than they were in before.