All News articles – Page 168
-
News
Master trusts warn cost concerns overshadowing investment quality
Data crunch: Master trust providers are concerned that their clients excessively focus on cost to the detriment of investment propositions, according to a report by the Defined Contribution Investment Forum.
-
News
Employers support tax reform to help low paid
On the go: UK employers have voiced overwhelming support for reform of the UK’s complex system of pensions taxation, even if it means that some are worse off.
-
News
Advisers could help trustees with GMP past transfers
On the go: Advisers have been urged to proactively check whether their clients could be entitled to a top-up payment on their defined benefit transfer, which could help trustees in tracking down members affected by the latest guaranteed minimum pensions ruling.
-
News
PPF reserves could be ‘wiped out’ by one or two big claims
Pension Protection Fund chief executive Oliver Morley has warned that the lifeboat’s reserves could be wiped out by just a few large claims, while downplaying the risk of a post-Covid run of small-scheme claims.
-
News
Investors keen to play role in green recovery
On the go: Four in five institutional investors predict an increase in their exposure to renewable energy infrastructure in the next five years, according to a new survey.
-
News
DB scheme trustees to revisit thousands of past transfers
On the go: Trustees of defined benefit schemes will have to revisit pension transfers from the past 30 years if the individual had contracting-out benefits, and provide a top-up if necessary.
-
News
GMP ruling implementation will be ‘Herculean’ task for schemes
A ruling on guaranteed minimum pension equalisation will see trustees having to revisit 30 years of pension transfers, which will be a “Herculean” task for administration teams amid missing data and poorly kept records.
-
News
Surge in AE non-compliance during pandemic
On the go: The number of warnings issued to employers for failing to pay pension contributions for staff has increased by almost 200 per cent between July and September, the Pensions Regulator has said.
-
News
Trustees green-light RSA takeover after securing guarantees
On the go: Trustees of defined benefit schemes belonging to UK insurer RSA have accepted a proposal to split the company’s parent group in two, in exchange for new offers of covenant enhancement.
-
News
TPS phased withdrawal plan arrives too late for hundreds of schools
Teachers’ organisations and pension professionals have given a lukewarm welcome to the Department for Education’s proposal to allow independent schools to retain Teachers’ Pension Scheme membership for existing staff, while at the same time offering private plans for new staff.
-
News
Experts wary on BoE governor’s DC pandemic recovery call
The governor of the Bank of England has suggested rules should be relaxed to allow defined contribution schemes to play a part in the post-Covid economic recovery, but experts warn some structural problems remain.
-
News
KPMG ‘helped’ US firm dump £100m Silentnight scheme into PPF
On the go: KPMG allegedly helped US buyout fund HIG Capital force the insolvency of Silentnight to acquire the company without the burden of its £100m pension scheme, in a case brought by the UK’s accounting regulator.
-
News
MPs reject proposal to make schemes carbon neutral by 2050
On the go: MPs have rejected a measure that would see UK pension schemes being compelled to be carbon neutral by 2050, as it would lead to “negative outcomes”.
-
News
HMRC’s leapfrog on insolvencies to hinder PPF recoveries
Government changes to prioritise the payment of insolvent businesses’ tax bills at the expense of other creditors could reduce recoveries by the Pension Protection Fund and adversely impact levy payers, according to the lifeboat.
-
News
Smiths Group completes £146m buy-in with Canada Life
On the go: The engineering company has secured a £146m bulk annuity deal with Canada Life for the Smiths Industries Pension Scheme.
-
News
RPI reform holds back schemes’ inflation hedging
On the go: Inflation hedging decreased by 13 per cent quarter-on-quarter in the third quarter of this year amid ongoing concerns about reform to the retail price index, according to the latest BMO Global Asset Management liability-driven investment survey.
-
News
Pension professionals demand pause to TPR’s tough stance on funding
The UK could face a tidal wave of insolvencies and job losses in the coming winter months. With this bleak prospect looming, pension professionals are calling for a more pragmatic approach from the Pensions Regulator on scheme funding.
-
News
Labour pushes climate change, superfunds, dashboard amendments
Senior Labour party figures including leader Keir Starmer have put their names to a series of amendments to the pension schemes bill, covering climate change targets, superfunds legislation and the pensions dashboards.
-
News
TPR issues guidance on protecting schemes from employer distress
New guidance for trustees on protecting their schemes from employer distress stresses the need for robust protections and integrated risk management.
-
News
MPs to pressure Opperman into commitment on scam ‘red flags’
Five members of parliament, including Work and Pensions Committee chair Stephen Timms, have tabled an amendment to the pension schemes bill designed to pressure pensions minister Guy Opperman into clarifying the government’s position on pension scams.