More defined benefit news – Page 92
-
News
Pensions sector suffers more than one data breach every week
The UK pensions sector suffers more than one data breach every week on average, new figures reveal, with some of the industry’s biggest names failing to protect savers’ sensitive information.
-
News
Lockdown sees third of savers taking action on pensions
Data crunch: Seven million people, representing more than a third of savers, have taken action relating to their pensions during the coronavirus lockdown, with almost one in three reviewing their spending habits more often, according to analysis by Aviva.
-
News
One in five schemes considering superfunds
On the go: The Pensions Regulator’s interim guidance for consolidators has sparked a surge of interest by pension schemes, with one in five considering superfunds as an option for their endgame, according to a survey by Willis Towers Watson.
-
News
Lords commit TPR to preserving open DB schemes
The House of Lords has amended the pension schemes bill to ensure that open defined benefit schemes are not forced to derisk their investments in the same way as closed plans, in one of four defeats suffered by the government.
-
News
Pension superfunds could hinder insurers’ businesses
On the go: UK pension superfunds could encroach on life insurers’ bulk purchase annuity market, as the new consolidation vehicles may present employers with a more affordable alternative, according to Fitch Ratings.
-
News
Willis Pension Scheme enters £1bn longevity swap
On the go: The Willis Pension Scheme has entered into a £1bn longevity swap with Munich Re, covering around 3,500 members.
-
NewsData poses difficulties to Surrey admin outsourcers
A London borough branch of the Local Government Pension Scheme is to bring its administration back in-house from 2021, as current outsourced provider Surrey County Council continues to struggle with legacy data issues across its client base.
-
News
Government plans to push ahead with small scheme consolidation
On the go: The government looks set to press ahead with plans to encourage small schemes to consolidate, according to analysis of consultation documents by LCP.
-
News
Peers push for restriction on commercial dashboards
On the go: Labour peers are pushing for an amendment to the pension schemes bill that will see a 12-month restriction placed on providers looking to operate their own pensions dashboards.
-
News
Widespread industry support for regulator’s Covid-19 response
On the go: Industry professionals are “overwhelmingly positive” about the Pensions Regulator’s response to Covid-19, though they remain pessimistic about future prospects, according to a report from the Pensions Management Institute.
-
News
Regulator to focus on protecting savers amid Covid-19
On the go: The Pensions Regulator has said it will prioritise protecting savers during the coronavirus pandemic, as well as supporting schemes to continue to deliver benefits.
-
News
Insolvency bill retains potential to damage DB schemes
Government attempts to mitigate the risk its new insolvency legislation poses to defined benefit pension schemes have only been partly successful, and company moratoriums could still see schemes lose out on valuable contributions, experts have said.
-
News
How can schemes make ESG compliance meaningful?
Analysis: The UK pension industry’s first attempt at compliance with new sustainability reporting rules has left campaigners unimpressed, to say the very least.
-
News
OECD encourages regulators to be flexible in response to pandemic
On the go: Policymakers should allow for regulatory flexibility in their approach to recovery plans to make sure that people saving for retirement stay the course during the Covid-19 crisis, the OECD has recommended.
-
News
Work and pensions committee urged to open inquiry into scams
On the go: The head of a transparency pressure group has written to the chair of the work and pensions committee to request it opens an inquiry into the scope and extent of pension scams.
-
News
DB trustees spend 3,000 days a year processing inefficiencies
On the go: Defined benefit pension scheme trustees cumulatively spend 3,000 days each year monitoring processes that could be avoided by adopting a technology-led approach, new analysis shows.
-
News
Lords looks to mandate guidance on pension transfers
On the go: An amendment to the pension schemes bill could see savers forced to obtain guidance before they are allowed to proceed with a pension transfer.
-
News
Seven-year scam poses ‘serious questions’ for TPR
The Pensions Ombudsman has finally brought to a close a seven-year case that left members of three pension schemes looking to recoup losses in excess of £14m. However, questions have been raised about the effectiveness of the Pensions Regulator in this case.
-
News
United Biscuits awaits CJEU ruling in long-lasting VAT saga
On the go: The trustees of United Biscuits’ defined benefit pension scheme are waiting for a final ruling from the Court of Justice of the European Union, after the advocate general sided with HM Revenue & Customs on a long-lasting battle on value added tax.
-
News
Part-time judges get owed pensions as govt consults on new rules
On the go: The Ministry of Justice is consulting on new rules for the Fee-Paid Judicial Pension Scheme in response to recent court cases, with 4,600 judges being owed past pension contributions.