All News articles – Page 226
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Healthcare company pleads guilty to misleading TPR
A Birmingham-based healthcare company and its managing director have pleaded guilty to misleading the Pensions Regulator about enrolling staff into a workplace pension, after a whistleblower raised the alarm.
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Cold-call ban needs hefty fines to work, experts say
The government's decision to speed up its ban on cold calls and emails related to pensions must be supported by credible regulations and deterrent fines if consumers are to be protected, industry commentators have said.
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Civil service scheme overpaid pensioners by £22m
Pensioners of the Civil Service Pension Scheme have received historic overpayments of £22m and face reduced pensions to correct the mistake.
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TPR appoints new policy lead
The Pensions Regulator has hired David Fairs as its executive director for regulatory policy, analysis and advice.
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Government commits to 2018 cold-calling ban
The Department for Work and Pensions has committed to banning pensions cold calls by June this year, bowing to pressure from MPs and peers to bring forward its timetable for taking action.
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MPs probe pension funds on climate risk amid wider ESG push
MPs are probing pension funds on their approach to climate change risk, as experts expect a ‘multi-pronged attack’ to push environmental concerns higher up trustee agendas.
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DB deficits continue to decrease but tensions remain
Defined benefit deficits across UK private sector pension schemes have decreased to £105bn from £180bn last year.
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Universities minister: Compensate students for UCU pensions strike
Universities minister Sam Gyimah has said universities should compensate students for teaching time lost because of academics' ongoing strike over pensions.
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Trustees lack info to judge fid man and consultant VfM, finds CMA
Competitive processes are not providing customers with the necessary information to judge the value for money of investment consultants and fiduciary managers, the Competition and Markets Authority has said.
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Lower rises in life expectancy are no longer a blip
The recent slowdown in life expectancy rises has settled into a general trend, according to new data.
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NewsSainsbury’s tackles bills with DB scheme merger
Supermarket giant Sainsbury’s is hoping to save on pension costs by combining its two defined benefit schemes, a move advisers say can also bring strategic alignment for the sponsor.
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Alternative risk premium strategies could see rise despite set-up costs
Alternative risk premium strategies present a relatively low-cost way of attaining diversification according to new research, but some say high implementation costs are likely to prevent them from taking over scheme portfolios.
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Attractiveness of deferred debt arrangement remains to be seen
Employers in multi-employer pension schemes will now be able to delay the requirement to pay an employer debt when they cease accrual in the scheme, but opinions are divided on how attractive this will be.
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DWP to allow bulk DC transfers without member consent
The Department for Work and Pensions has pressed ahead with regulations easing the bulk transfer of defined contribution members without their consent, seen as a milestone in a drive for scheme consolidation.
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NewsPPF reassures Toys R Us members after insolvency
US retail chain Toys R Us has become insolvent despite a creditor agreement late last year. Its pension scheme, with an estimated £25m deficit, has been in a Pension Protection Fund assessment since December.
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NewsRegulation could increase after Brexit, experts say
Brexit could lead to more rather than less pensions regulation, while radical revisions to tax relief might be needed to keep low earners enrolled in the pensions system, according to a panel of policy experts.
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Post Office workers’ scheme agrees £450m buy-in
The Royal Mail Pension Plan has agreed a £450m bulk annuity transaction to insure the liabilities of its Post Office Limited section.
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Cost of tax relief plateaus at £38.6bn
The cost of tax relief on pension contributions has reached £38.6bn, only £100m more than the previous year, after jumps in 2015 and 2010. Deducting pension-related tax, the figure comes down to £25.2bn.
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DWP changes DC cost disclosure rules
On the go: The Department for Work and Pensions has made a number of changes to disclosure rules relating to costs and investments in defined contribution workplace schemes.
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TUC cautions over ‘pensions lottery’
The Trades Union Congress has today said that workers face a “pensions lottery” upon retirement.