All News articles – Page 178
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Warnings of 20% member losses as RPI consultation closes
On the go: Investment managers have demanded that the government compensates clients for losses they will suffer if the retail price index is downgraded, as a consultation on changes to the outdated inflation measure closes.
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Nest eyes 2026 breakeven amid increased revenue
On the go: Master trust Nest has seen its income rise 75 per cent over the course of last year while its expenditure fell by £20m, leaving it well placed to weather the effects of the coronavirus pandemic, according to its latest annual report.
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New GMP guidance stops short of clarifying rules around conversion
New guidance on guaranteed minimum pensions has clarified the tax implication of equalising past inequalities between men and women, but critics have said it leaves unaddressed important questions for schemes hoping to convert GMPs into regular scheme benefits.
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NewsGovernment ponders solutions to £17bn McCloud problem
The Treasury has set out two proposals for ending the discrimination between scheme members that resulted from its 2015 public sector pension reforms, with costs of unwinding its scheme changes estimated to cost £17bn.
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TPR touts tougher DB approach and shrinking DC universe
On the go: The Pensions Regulator has stated its ambitions to extend its direct supervision of schemes and refocus on prompt transactions, after meeting the majority of its performance objectives over the past year.
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Provider nudges increase guidance uptake
On the go: A strong provider nudge drives three times more savers to seek pension guidance, trials arranged by the Money and Pensions Service have found.
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LGPS faced with huge McCloud admin challenge
On the go: Local Government Pension Scheme administering authorities urgently need to carry out impact assessments to clarify how many of their members fall under the scope of the McCloud judgment, according to Aon.
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Govt’s ‘landmark’ pensions bill proceeds to Commons
On the go: The pension schemes bill, which includes rules for pension dashboards and new powers for the Pension Regulator, has cleared its first hurdle in the House of Lords.
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NewsUSS strikes £300m deal with with affordable housing investors
The Universities Superannuation Scheme has entered into a £300m 45-year debt facility arrangement with a real estate investment trust, funding shared ownership housing developments.
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Trend towards master trusts continues apace
On the go: The rate at which FTSE 250 companies move to master trusts as their main defined contribution vehicle is set to accelerate over the next two years, according to a new report from Willis Towers Watson.
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Working group issues guidance on GMP equalisation data
On the go: Trustees of defined benefit pension schemes must make considered decisions about whether data they may need for guaranteed minimum pension equalisation is cost-effective to obtain, according to new guidance on the process.
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£4m lost to new forms of large-scale fraud
On the go: Fraudsters are targeting investors with new, innovative and large-scale scams, according to a report by the Investment Association published today.
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Market volatility leads to attractive returns in low-risk credit
On the go: Pension schemes should consider adopting high-quality, low-duration credit strategies such as asset-backed securities as an alternative to traditional bond allocations when looking to derisk their portfolios, according to a new report from Aon.
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At-retirement support weakest link in workplace pensions
Data crunch: Pension providers must improve on supporting members at the point of retirement, while post-retirement drawdown options are also in need of investment, according to new research.
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TPR’s fast-track proposal 'risks levelling down by employers'
Actuaries have expressed concern that the Pensions Regulator’s proposal of a ‘fast-track’ route for compliance, with its expectations on defined benefit funding, could spur market-leading employers to level down their approach.
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Covid-19 could lead to 75% hike in deficit repair contributions
Deficit repair contributions may need to increase by 75 per cent if defined benefit schemes are to meet their recovery plan end dates, according to analysis published by the Pensions Regulator.
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PPF offers levy payment assistance for struggling sponsors
On the go: The Pension Protection Fund is waiving the interest charge on its levy payment plan to help schemes or sponsoring employers struggling due to the economic impact of coronavirus.
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Nissan workers protest against DB scheme closure
On the go: Workers at Nissan’s Sunderland plant will stage a socially distanced protest on Saturday against the carmaker’s proposal to close its defined benefit scheme.
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Chancellor spares pensions tax relief and triple lock for now
On the go: Pensions tax relief and the triple lock have once again been spared by the chancellor of the exchequer, although changes to these costly policies are expected down the line.
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Pensions Ombudsman unhappy with FOS overlap
Pensions Ombudsman Anthony Arter believes the current overlap with the Financial Ombudsman Service should be addressed as the current stance is “confusing and not satisfactory”.