All News articles – Page 195
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5 million still at risk from scams, TPR warns
On the go: The Pensions Regulator has warned that as many as five million savers are still at risk from pension scams, as it renews its commitment to fighting fraudsters alongside the Financial Conduct Authority.
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Looming Brexit sees slowdown in LDI derisking trend
On the go: Interest rate and inflation hedging activity by UK pension schemes saw a dramatic slump in the second quarter of 2019, although experts said this was more likely due to Brexit "frontloading" than a sustained slowdown.
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IWDC Section of Railways Pension Scheme gains authorisaton
On the go: The Railways Pension Scheme’s Industry-Wide Defined Contribution Section master trust has been authorised by the Pensions Regulator.
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Watchdog to prosecute recruitment agency over AE duties
On the go: The Pensions Regulator is prosecuting a recruitment agency and its managing director on suspicion of attempting to avoid providing employees with a workplace pension.
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HSBC scheme agrees £7bn longevity swap package
On the go: Trustees of the HSBC Bank UK Pension Scheme have agreed the second-largest longevity swap in UK history, insuring £7bn of the scheme's liabilities against living too long.
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Huge gulf in UK workplace pension provision by sector
On the go: Pension provision and employer contributions vary wildly across UK employment sectors, with the financial services at the top and agriculture, forestry and fishing propping up the bottom of the tables.
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MPs urge DWP to review scope and level of charges cap
The Work and Pensions Committee is ramping up the pressure on the government and the Financial Conduct Authority to cap the level of charges on default retirement products.
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FTSE 350 deficit up to £51bn as political and financial turmoil ahead
On the go: FTSE 350 companies saw their pension deficit grow in July, from £48bn at the end of June to £51bn by the end of July, a £3bn increase. Funding levels were unchanged over the month at 94 per cent, according to Mercer.
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TPR turns up the heat on 99% failing small schemes
The Pensions Regulator continued to press for consolidation on Thursday, after its annual survey found 99 per cent of small schemes are missing statutory governance requirements.
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British American Tobacco strikes £3.4bn buy-in deal
On the go: British American Tobacco's UK pension scheme has agreed a buy-in covering both pensioners and deferred members, the third largest struck to date.
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Quarter of a million still inherit spouse's state pension via DWP loophole
On the go: A loophole means some spouses who outlive their partners are eligible to inherit some of their state pension, the Department for Work and Pensions has said, in a revelation that could boost many pensioners' income.
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ACA reignites pensions v house purchase debate
On the go: The Association of Consulting Actuaries is calling for new flexible savings products designed to fulfil young savers’ housing and pensions aspirations.
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Active equity fees fall by 11 per cent since 2017
On the go: The average fee for an active global equity mandate has fallen by 11 per cent since 2017, according to consultancy LCP, as competition from low-cost index tracking vehicles sees costs improve across most asset classes for institutional investors.
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Record 336,000 retirees access their pensions
On the go: More retirees than ever are withdrawing money from their pension pots as the popularity of freedom and choice continues unabated.
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Select committee presses govt on superfund commitment
On the go: The Work and Pensions Committee has voiced its concerns about the government allowing the creation of defined benefit superfunds in the absence of a dedicated regulatory regime.
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NewsFCA lambasted for lethargy on contingent charging
The Financial Conduct Authority’s proposals to ban controversial charging structures were welcomed by the industry on Tuesday, but some have criticised the regulator for being slow to act.
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Future commissioner joins calls for Welsh pool to divest fossil fuels
On the go: A Welsh Assembly-appointed commissioner in charge of protecting future generations has called for the country's public sector pension funds to withdraw from fossil fuel investments.
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Contingent charging to be banned by November under FCA proposal
On the go: Contingent charging could be banned by November this year under new plans by the Financial Conduct Authority, which released a package of measures on Tuesday aiming to boost consumer rights.
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NewsShell MND elections reignite debate over selection panels
The Shell Contributory Pension Fund announced elections for member-nominated trustees last month, with campaigners calling on members to seize the opportunity and appoint climate risk-conscious representatives.
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The Pension SuperFund announces second deal
On the go: The Pension SuperFund has announced its second deal, having submitted its first transaction to the Pensions Regulator for clearance earlier this year.