All News articles – Page 105
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NewsBrunel calls on Sainsbury's to introduce living wage
On the go: The £38bn Brunel Pension Partnership, which handles assets of 10 UK Local Government Pension Scheme funds, has co-filed a resolution calling for the introduction of the living wage at supermarket chain Sainsbury’s.
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NewsOpperman calls for industry input on CDC expansion
On the go: Pensions minister Guy Opperman has called on the industry to work with government on expanding the nascent collective defined contribution market, though experts have previously warned that draft regulations are too strict to allow for real growth in the sector.
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NewsNew British Steel scheme to make £58mn additional payout
Some 50,000 pensioner members of British Steel Pension Scheme II will receive a one-time extra payment, worth collectively £58mn, due to the pension fund’s positive results.
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NewsAsset manager scheme secures £175mn full buy-in
On the go: The Findel Group Pension Fund has agreed a £175mn full scheme buy-in deal with Standard Life.
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NewsRegulator’s CDC plans risk strangling the sector at its birth
The Pensions Regulator’s draft code of practice for collective defined contribution schemes is unnecessarily strict and risks severely hampering growth in the sector, industry bodies have warned.
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NewsUCU calls for staff welfare inquiry as two-thirds consider quitting
On the go: Two-thirds of university staff could quit the higher education sector altogether over mounting dissatisfaction with pay, pensions and working conditions, the University and College Union has warned, as it calls for the Education Select Committee to set up an inquiry into staff welfare.
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NewsTimms probes Treasury on tax charges to pension scam victims
On the go: Work and Pensions Committee chair Stephen Timms has written to HM Treasury asking for “clarity” on the tax treatment of pension liberation victims.
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NewsPension receipts to reach £1.7bn amid rise in cost of living
On the go: The Office for Budget Responsibility has revised its forecast of tax paid when people access their pension funds, expecting it to reach £1.7bn in 2021-22.
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NewsUK to raise £10bn from green gilt sales
On the go: The Debt Management Office will sell £10bn in green gilts as part of £124.7bn in overall gilt sales in the 2022-23 period.
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NewsInflation hits 30-year high of 6.2%
On the go: Inflation hit another record in February, piling the pressure on the chancellor to address the soaring cost of living in his Spring Statement on March 23.
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NewsGovt allocates £425mn for teachers’ remedy back payments
On the go: The government has allocated £425mn for back payments to members of the Teachers’ Pension Scheme, and others within scope of the Goodwin ruling from 2020.
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NewsPensions allowance tax charges hit record highs
On the go: The number of savers breaching annual and lifetime allowance limits reached new records in 2019-20, according to figures from HM Revenue & Customs.
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NewsIndustry split on auto-enrolment reform timetable
On the go: Experts are split on whether increasing auto-enrolment contributions to 12 per cent can be achieved by the end of the decade.
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NewsGovt to consult on McCloud tax legislation this summer
On the go: The government has committed to provide tax-free compensation to members who choose reformed scheme as opposed to legacy scheme benefits under the McCloud remedy, and will consult on the necessary legislation in the summer.
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NewsWhat the Spring Statement means for pensions
The biggest rabbit to emerge from chancellor Rishi Sunak’s hat at this year’s Spring Statement was arguably his commitment to lowering the basic income tax rate from 20 per cent to 19 per cent from April 2024.
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NewsAir Canada completes £380mn buy-in, Keysight signs £58mn deal
Risk watch: A roundup up of the latest derisking transactions, including the Air Canada (UK) Pension Trust Fund’s £380mn buy-in with Pension Insurance Corporation, and the Keysight Technologies UK Limited Retirement Benefits Plan’s £58mn deal with Just Group.
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NewsPlumbing Pensions to use member funds to fight section 75 claims
The Court of Session in Edinburgh has granted Plumbing Pensions permission to use member funds to defend against legal claims from employers over its pursuit of section 75 liabilities.
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NewsActuaries call on govt to improve guidance and advice take-up
On the go: The Institute and Faculty of Actuaries is calling on the government and the pensions industry to improve guidance and financial advice take-up.
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NewsMNRPF chair admits uncertainty over P&O Ferries’ obligations
On the go: The Merchant Navy Ratings Pension Fund chair of trustees John Oldland has left open the possibility that P&O Ferries may not meet its pension obligations after a controversial dismissal process.
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NewsDisinvesting on ESG grounds ‘often’ discussed at trustee meetings
Trustees regularly discuss divesting on ESG grounds at meetings as part of wider debates on environmental, social and governance factors. However, complexity means discussion does not always lead to action.