All News articles – Page 239
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News
Webb: Tories 'terrified' of AE contribution hike
The Conservative party is “terrified” to make changes that will safeguard pensions adequacy and enable older savers to leave work when they want, former pensions minister Sir Steve Webb has said.
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FCA cracks down on transfer advice
Pension consultants have welcomed the Financial Conduct Authority’s adoption of a tough stance on companies advising on defined benefit transfers, calling it a “price worth paying” for member security in retirement.
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Increased use of RAAs is 'inevitable', experts say
The Pensions Regulator has agreed a regulated apportionment arrangement with Hoover, as experts say the number of RAAs, as well as the amount of due diligence involved, is likely to increase.
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NewsUS withdrawal from Paris accord no threat to ESG investing
US president Donald Trump’s decision to pull out of the Paris climate accord will not affect the UK’s growing implementation of environmental, social and governance criteria on investment strategies, experts have said.
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NewsWilletts: Narrow green paper fails on intergenerational equality
Conservative peer Lord Willetts has spoken out against the scope of the Government’s green paper consultation on defined benefit pensions, criticising its lack of regard for intergenerational fairness.
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Governance overhaul required to solve DB woes
An overhaul of trust-based pension schemes to separate trustee ‘directors’ from professional managers could have prevented a crisis in defined benefit pensions, a new report has claimed.
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NewsFCA final rule changes unlikely to help, experts say
The Financial Conduct Authority has published its final rules on requiring firms to provide an information prompt to consumers to improve shopping around in the annuity market, setting out a number of changes including an enhanced annuity warning.
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Ideas from overseas can up engagement, report finds
The Pensions Policy Institute has published a report looking at consumer engagement with pensions and financial products across the world, highlighting numerous lessons the UK can learn from overseas.
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No end to liability build-up for charity schemes
Some of the worst-funded not-for-profit scheme sponsors are unable to cease future accrual or limit future membership as defined benefit affordability continues to pose a threat to the sector.
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Schemes urged to take action on data security
Pension schemes must use the next 12 months to review and update data protection practices, industry experts have urged, ahead of new rules which could result in huge fines for trustees.
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NewsWincanton runs ETV to drive liabilities down
The Wincanton Pension Scheme has embarked on an enhanced transfer value exercise in an attempt to further cap its obligations, after trivial commutations wiped £3.8m from its liabilities.
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NewsBA judgment shows value of diligent minute-taking
British Airways has lost a legal battle against the Airways Pension Scheme involving the trustees' decision to introduce a 0.2 per cent discretionary increase, as experts have stressed the importance of carefully documenting all decision-making processes.
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First asset managers commit to LGPS transparency code
The Local Government Pension Scheme advisory board has launched its code of transparency to improve cost disclosure, amid early indications that asset managers will sign up.
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Advice suitable but disclosure too complex, finds FCA
The Financial Conduct Authority has published the findings from its review into the suitability of pensions and investment advice, but while the results are reassuring, experts say more needs to be done to make advice less convoluted.
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Regulator zeroes in on dividends
The Pensions Regulator has targeted employers who pay large dividends while underfunding defined benefit pension schemes in its latest annual funding statement, increasing the pressure on trustees to secure as much funding as possible.
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NewsTata and BSPS agree terms for PPF-plus deal
Trustees of the £15bn British Steel Pension Scheme have agreed the key commercial terms of a regulated apportionment arrangement with sponsor Tata Steel UK, which would see members offered modified benefits as part of a new scheme.
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Industry divided over retrospective changes to pensions
Nearly half of pensions professionals and scheme representatives believe that retrospective changes to pensions promises should be allowed, according to a recent survey, suggesting growing concern over the level of defined benefit liabilities.
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NewsBlockchain and bitcoin: Trustees urged to adapt to change
Many are still unfamiliar with the concept of bitcoin and blockchain, but experts say the pensions industry must engage with technology and accept change to adapt to an increasingly digital world.
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NewsNortel inches closer to PPF-plus as £5bn lockbox opened
The Nortel Networks UK Pension Plan is set to receive more than £1bn in assets from its insolvent sponsor Nortel in the coming months, after US and Canadian courts agreed to open a $7bn (£5.4bn) escrow ‘lockbox’.
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Small employers urged to plan ahead as more miss staging deadline
A rising number of small employers are missing their auto-enrolment staging deadline, a new study has shown, as experts highlight the importance of being prepared and planning ahead to make sure employees benefit from a pension.