All News articles – Page 198
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News
Does proposed professional trustee rule spell the end for lay trustees?
The Pensions Regulator is considering whether an accredited professional trustee should sit on every board, but what could this mean for the future of lay trustees?
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NewsLogistics company and Glasgow Uni join Nest sidecar trial
Master trust Nest has announced two new participants in its trial of a 'sidecar' savings solution, with employees at Yusen Logistics and the University of Glasgow to be offered the product in early autumn.
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Largest ever claim dents PPF reserves
On the go: The Pension Protection Fund’s reserves fell to £6.1bn from £6.7bn, according to its latest annual report published today, the result of a record claim from the Kodak Pension Plan No 2.
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Superfunds left out of ‘quickie’ pensions bill
On the go: A radically stripped down pensions bill could appear later this month, according to the shadow pensions minister, as politicians try to squeeze in legislation before the uncertainty of Brexit and a new government kicks in.
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FTSE 350 pension deficit falls by £9bn in June
On the go: The pension deficit for the UK’s 350 largest listed companies fell by £9bn to £48bn by the end of June from £57bn at the end of May, the most significant monthly improvement in funding levels since November 2018, according to Mercer.
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Pension changes could result in £260bn accounting gap, says XPS
On the go: UK companies could be understating their pension liabilities by as much as £260bn, according to XPS Pensions.
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Clara Pensions first consolidator to join PASA
On the go: Clara Pensions became the first consolidator to join the Pensions Administration Standards Association on Wednesday, boosting its legitimacy before the announcement of its first client.
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Smiths Industries completes £176m bulk annuity transaction
On the go: The £3bn Smiths Industries Pension Scheme has completed a £176m bulk annuity with Canada Life – its second transaction of this kind with the insurer.
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TPR ponders mandatory professional trustee requirement
The Pensions Regulator is consulting on proposals to make it mandatory for a professional trustee to sit on every trustee board, in a bid to ramp up standards and drive consolidation.
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Aviva launches ESG default fund
On the go: Aviva has launched a defined contribution default fund with environmental, social and governance considerations at its heart, in line with growing demand from workers.
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TPR authorises four more master trusts
On the go: The Pensions Trust, Fidelity, Standard Life and Stanplan A have gained authorisation from the Pensions Regulator, bringing the total number of approved master trusts to 10.
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Rumours of buyout for British Steel scheme
On the go: Trustees of the British Steel Pension Scheme are mulling a full buyout of the rescued scheme, according to reports from Sky News.
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DB continues to mature as 73% cash flow negative
On the go: Almost three out of every four defined benefit schemes in the UK are now cash flow negative, according to consultancy Mercer’s 2019 asset allocation survey.
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TPR publishes new DC investment guidance
On the go: The Pensions Regulator has updated its DC investment guidance to incorporate new regulations on environmental, social and governance risk coming into force from October 2019 and October 2020.
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NewsUCU threaten autumn strikes after USS whistleblowing
The University and College Union has outlined a timetable for industrial action at UK universities later this year, demanding concrete action from employers to improve pay and secure pensions.
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Supreme Court denies govt leave to appeal in firefighters' pension case
On the go: The Supreme Court has denied the government’s application for permission to appeal a Court of Appeal ruling that pension changes discriminated against younger members of the Firefighters' Pension Scheme.
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Regulator keeping 'careful eye' on watch list of 50 schemes
The Pensions Regulator has a watch list of 50 defined benefit schemes that it is most concerned about, the watchdog’s chief executive, Charles Counsell, has revealed.
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Trinity rocked by fellow resignations
Three academic fellows resigned from Trinity College Cambridge on Monday, protesting the college’s decision to exit the Universities Superannuation Scheme.
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NewsBMA launches legal challenge over new NHS scheme suspension rules
The British Medical Association has issued legal proceedings against the government, challenging recent changes that enable the suspension of benefit payments when a National Health Service Pension Scheme member has been charged with certain criminal offences.
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PIC hails record reinsurance availability
On the go: Bulk annuity provider Pension Insurance Corporation has secured a record-breaking £7bn of reinsurance to date in 2019.