All News articles – Page 218
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Mid-market direct lending approach 'too constraining', WTW says
Mid-market direct lending is “now demonstrating signs of material deterioration in credit underwriting and future return potential”, according to a report by consultancy Willis Towers Watson, which is instead recommending its clients invest in debt for US real estate and UK commercial real estate.
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Scam victims lose £91,000 on average
On the go: The Pensions Regulator and the Financial Conduct Authority have launched a joint media campaign to combat pension scams, amid the revelation that average losses from fraudulent and inappropriate inducements eclipsed the size of the average pension pot in the UK.
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Bulk annuity volumes break H1 record
On the go: UK pension schemes entered into a record £7.8bn of buy-ins and buyouts in the first half of 2018, as large 'back book' transfers between insurers failed to disrupt the market's capacity.
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DB transfers heading into costly drawdown products, research finds
Defined benefit members transferring out of their scheme to take advantage of freedom and choice may be wasting money on fees for flexibilities they are unlikely to use, according to a new report.
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SES Water cites Ofwat price review in proposed scheme closure
SES Water, formerly known as Sutton and East Surrey Water, has opened a consultation with members on the closure of its defined benefit section to future accrual, citing efficiencies demanded by water regulator Ofwat.
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Regulator charges third party for supplying false information
The Pensions Regulator is prosecuting an accountant for falsely claiming that the business he was working for had enrolled its staff into an occupational pension. It is the first time that the regulator has charged a third party for this offence.
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NewsOmbudsman’s police ruling highlights trustee duty of care
The Pensions Ombudsman has upheld a police officer’s complaint that Northumbria Police transferred his pension to a new scheme without having conducted adequate checks or provided him with sufficient warning about scams.
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Select committee launches costs and transparency inquiry
The Work and Pensions Committee is to conduct an inquiry into transparency in the pensions industry, questioning whether individuals are able to understand the cost, performance and value for money of their pension products.
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Bank of England raises base rate to 0.75%
The Bank of England has raised its base interest rate to 0.75 per cent, its highest level since February 2009.
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Mastertrust transfers and charges blasted in ‘worst in pensions’ study
Two of the UK’s largest mastertrusts have been named the worst performing providers in pensions over high charges and slow transfer processes.
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Johnson: With-profits a better alternative to risky CDC
Plans for collective defined contribution schemes are "a risk too far", and savers should instead be offered individual savings pots invested in with-profits funds, according to one of the architects of freedom and choice.
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Select committee chair loses no confidence vote by local party
Labour MP Frank Field has lost of vote of no confidence in his constituency, as local party members try to oust the Work and Pensions Committee chair over his support for Brexit.
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Brewery fined for refusing to share information with TPR
Samuel Smith Brewery and its chairman must pay fines of almost £28,000 for failing to hand over to the Pensions Regulator requested information relating to its defined benefit schemes, Brighton Magistrates Court ruled on Monday.
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NewsFTSE 100 steps up derisking drive as deficits shrink
Defined benefit schemes of FTSE 100 employers continue to derisk investment portfolios at a rapid rate, despite mismatching of assets and liabilities generating attractive returns over the last year.
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Communications essential as cold-calling ban takes step forward
The Department for Work and Pensions has taken a further step towards implementing a ban on cold calls related to pensions, but experts have cautioned that the delayed measure will not be sufficient on its own to stamp out scams.
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Northumbrian Water makes moves to manage liabilities
Northumbrian Water has embarked on a multi-pronged liability management exercise in a bid to control its defined benefit obligations, including a pension increase exchange and employer-funded financial advice.
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NewsMandatory tenders welcomed by pensions industry
UK pension schemes will be required to conduct competitive tender processes before hiring their first fiduciary manager, under recommendations set out by the Competition and Markets Authority on Wednesday.
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CMA wants mandatory tendering to tackle competition weaknesses
On the go: UK pension schemes will be required to conduct competitive tender processes before hiring their first fiduciary manager, under recommendations set out by the Competition and Markets Authority on Wednesday.
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ABI expresses concerns over dashboard speculation
On the go: The Association of British Insurers has expressed concerns over the “threat to the pensions dashboard”, following speculation yesterday that secretary of state for work and pensions, Esther McVey, wants to kill off the project.
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Select committee hails CDC as 'new Beveridge' for UK pensions
Collective defined contribution schemes could usher in a new era of progress for the welfare state, according to the Work and Pensions Committee’s latest report, as the influential group of MPs seeks to increase pressure on government to facilitate the swift creation of CDC schemes.