All News articles – Page 199
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News
ExxonMobil and MetLife fail to meet LGIM’s climate change criteria
On the go: Legal & General Investment Management is removing five companies from its Future World Fund range for failing to meet stringent climate change criteria.
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NewsTrinity fellows go ahead with plans to leave USS despite UCU censure
A special meeting of fellows at the University of Cambridge’s Trinity College has supported the decision to leave the Universities Superannuation Scheme, despite the threat of censure from a trade union.
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Hidden drawdown dangers for 615,000 retirees
On the go: Hundreds of thousands of over-55s are unaware they can scale back or stop their withdrawals from their drawdown income, putting them in danger of draining their retirement savings too rapidly.
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Employers exposing staff to unexpected tax charges, warns Aon
On the go: Members of pension schemes with group life cover and their beneficiaries may face unexpected tax charges, with many employers yet to update their provision since the 2006 introduction of the lifetime allowance.
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Court of Appeal rejects ITV appeal against Upper Tribunal decision
On the go: The Court of Appeal has dismissed ITV's appeal against the Upper Tribunal's decision that a Financial Support Direction should be issued to the broadcaster in relation to the Box Clever scheme.
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Pension scheme membership rises to record 45.6m
On the go: Total membership of occupational pension schemes in the UK reached 45.6m in 2018, up from 41.1m in 2017, according to new Office for National Statistics data.
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Pensioner poverty rises for the first time since 2011-12
On the go: After more than two decades of virtually continual falls, pensioner poverty has shown a stark rise.
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FCA plans to ramp up supervision of transfer advice market
On the go: The Financial Conduct Authority intends to ramp up its supervision of the most active firms in the transfer advice market, after finding that 69 per cent of people seeking advice had been recommended to transfer between 2015 and 2018.
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75% of DB funds paying out more money than they receive, finds Buck
On the go: Three-quarters of defined benefit schemes are now cash flow negative with contributions no longer sufficient to meet regular benefit payments, according to Buck.
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Investors push for greater disclosure on environmental impact
On the go: Eighty-eight investors have come together to target hundreds of companies across 46 countries for not reporting their climate change, deforestation and water security data.
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Unions allege govt sidestepped advice on NHS pensions
On the go: The Department for Health and Social Care is under fire for reportedly deciding to pursue its ‘50:50’ reform for NHS Pensions before it had received a report commissioned from its advisory board.
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More schemes offering member concessions on DB closure
The number of defined benefit funds undertaking benefit reviews has soared since 2014, recent research has revealed, prompting yet more scheme closures amid a growing tendency to offer member concessions.
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Investment Association in push for more black fund managers
On the go: The Investment Association is leading a drive to recruit more black fund managers, after a new report revealed the poor extent of black representation in the industry.
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Fate of Arcadia on a knife edge
On the go: A crucial vote takes place today on a rescue package for Sir Philip Green’s beleaguered Arcadia Group.
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Arcadia CVA proposals approved
On the go: All seven of Arcadia’s company voluntary arrangements have been approved by the required majority of the retailer’s creditors.
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Nest to divest all tobacco holdings
On the go: Nest is to sell all its tobacco shares, the master trust has announced, as it warned of impending regulatory backlash against the sector.
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DB deficit grows during May
On the go: UK defined benefit funding levels dropped by four percentage points on aggregate at the end of May, according to the latest update from the Pension Protection Fund.
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PSIG calls on trustees to review procedures amid rise in scammers
The Pension Scams Industry Group exhorted trustees to review their scam prevention procedures on Tuesday, as pension fraud attempts continue to rise despite tightening government regulations.
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The Pensions Regulator plans to extend its reach
The Pensions Regulator’s head of regulatory policy David Fairs announced plans to “ramp up” its reach on Friday, telling trustees they could no longer get away with ignoring the regulator’s requirements.
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CMA takes final step in reform of fid man and consultancy sectors
On the go: The Competition and Markets Authority has issued a legally binding order requiring investment consultants and fiduciary managers to provide clearer information about what their customers are getting for their money.