All News articles – Page 216
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Four bosses banned for bad transfer advice
On the go: The Insolvency Service has handed lengthy bans to four company managers for a range of offences in relation to bad pension transfer advice.
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Transaction costs make up quarter of management fees
Some of the largest pension funds in the world are paying an average of 86.3 basis points in total annual investment costs, with 24 per cent of these fees made up of transaction costs, according to new research.
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TPR fines more than treble in a year
On the go: The value of fines issued by the Pensions Regulator has shot up to £42m in the year to March 31 2018, compared to the £12.6m of fines handed down over the previous 12 months.
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Handful of schemes in advanced talks with Pension SuperFund
The Pension Superfund has engaged in serious dialogue with approximately a dozen pension schemes with a view to them transferring into the defined benefit consolidator, according to its new chief executive.
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NewsAviva customers hit by system glitch
Pension provider Aviva has admitted that a number of its customers were unable to access their pension policies on its MyAviva system. The delays have prevented some customers from transferring their pensions.
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Field asks TPR to learn lessons as Kodak zombie set to enter PPF
The chair of the Work and Pensions Committee has written to the Pensions Regulator asking it to reflect on lessons it should have learned from its handling of the Kodak Pension Plan, which this week announced it faced Pension Protection Fund entry.
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Lessons from Oz: Former regulator urges hybrid product adoption
A former deputy chairman of the Australian Securities and Investments Commission has urged UK defined contribution schemes to better protect members by developing default retirement products combining drawdown and lifetime income.
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Mercer parent's JLT acquisition brings consulting giants under one roof
On the go: Marsh & McLennan, the insurance broker and consultancy that owns Mercer, has announced it is to buy Jardine Lloyd Thompson for $5.6bn (£4.3bn) in cash.
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Transparency worries hinder flows into active quant strategies
More than half of institutional investors are wary of using quantitative investment strategies, with a perceived lack of transparency registering at the top of investors’ concerns, according to new research.
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TPR to introduce one-to-one supervision for 25 biggest schemes
On the go: The Pensions Regulator has introduced a new supervision regime, which includes one-to-one supervision of 25 of the largest schemes in the UK, and will aim to monitor all schemes more closely.
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DC value: Small schemes falling short of standards
On the go: Small defined contribution schemes are not meeting the Pensions Regulator’s expectations when it comes to demonstrating value for members, according to its latest research.
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Willetts: Tax pensioners more to stem potential opt-out rise
National insurance contributions from pensioners’ income could be used to stem opt-outs resulting from increased contributions under auto-enrolment, an influential Conservative peer has suggested.
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More sponsors in talks with government over CDC
A handful of corporate entities have held exploratory discussions with the Department for Work and Pensions on collective defined contribution schemes, according to DWP defined benefit strategy team leader Julian Barker.
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NewsDWP scraps plans for schemes to check members’ ethical views
Controversial plans by the government to force trustees to outline how they have taken members’ ethical views into account in their investment strategies have been scrapped, it was revealed on Monday.
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DB governance: Small schemes fail to keep pace
Small defined benefit schemes are still lagging behind their larger counterparts when it comes to governance standards, new research from the Pensions Regulator has shown.
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One-fifth of FTSE 350 companies do not declare DB funding positions
Employers should be legally required to disclose their defined benefit scheme deficits on a technical provisions basis, along with details of the associated recovery plan durations and contributions agreed, Lincoln Pensions has said.
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UK’s three biggest public schemes failing on climate change
The Universities Superannuation Scheme, the Railways Pension Scheme and the Electricity Supply Pension Scheme have been slammed for the quality of their response to climate change.
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PPF must not cut pensions by more than half, EU court rules
The Court of Justice of the European Union has ruled that the cap imposed on benefits paid by the Pension Protection Fund is unlawful when it reduces the payments made to a saver by more than half.
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CJEU rules against PPF cap
On the go: The Court of Justice of the European Union has ruled that the cap imposed on benefits paid by the Pension Protection Fund is unlawful when it reduces the payments made to a saver by more than half.
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Government hands industry reins on dashboard project
Work and pensions secretary Esther McVey has said she "backs the industry" to deliver the pensions dashboard, but key details including whether the government will compel schemes to submit information remain unclear.