All News articles – Page 240
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Plymouth & South West Co-op introduces illiquids and cuts DGFs
The Plymouth & South West Co-operative Society pension fund is decreasing its diversified growth fund exposure and introducing a new allocation to illiquid credit.
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RSA calls for pensions tax reform to boost saving for self-employed
The Royal Society of Arts has published wide-ranging recommendations seeking to tackle the four key barriers to saving for the self-employed, underpinned by a call to introduce a flat rate of tax relief on pensions contributions.
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Savers misjudge lifespans, as experts call for comms overhaul
Savers are underestimating their life expectancy, with ‘survival pessimism’ potentially driving the unpopularity of annuities, according to a new report.
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UCU suspends strike action to scrutinise USS valuation
The University and College Union has called to suspend all strike action after its members accepted an offer to examine the latest valuation.
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Pension questions raised after FirstGroup rejects takeover bid
FirstGroup’s rejection of a hostile takeover approach from US private equity group Apollo Management has sparked discussion on pensions.
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NewsAssociated British Ports consults on accrual change
Associated British Ports has proposed to change the accrual rate for its defined benefit pension scheme, in a bid to cut costs and focus on fairness while keeping the scheme open to accrual.
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UK could profit from Australia’s missed default opportunity
A default drawdown proposition rejected by the Australian government could offer “freedom from the pension freedoms” for unengaged savers who cannot afford advice at retirement, it has been claimed.
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Trustees with fid man less likely to check quality of service
Trustees employing fiduciary managers are less engaged in assessing the quality of their provider than those with a traditional investment consultancy relationship, the latest report from the Competition and Markets Authority has found.
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Select committee launches inquiry into DB white paper
The Work and Pensions Committee has launched an inquiry into the government's recent white paper on defined benefit security and sustainability, asking how the proposed measures are likely to be most effective and whether legislation should be fast-tracked.
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DB deficits slip back up
The UK's aggregate defined benefit deficit increased over March to £115.6bn from £72.1bn on a section 179 basis, according to Pension Protection Fund estimates.
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Retirement defaults would strengthen UK system, experts say
UK pension commentators often point to the Netherlands as an example of a country with a good pensions system, but the UK’s introduction of freedom and choice has also attracted interest from Dutch pension experts.
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Choosing the right derisking path
Analysis: Consultants say bulk annuity pricing has never been so attractive, yet the majority of pension schemes see self-sufficiency as their likely destiny. Who is wrong?
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TPR fires warning shot over dividend to DRC balance
Defined benefit trustees and sponsoring employers should act sooner rather than later to secure members' pensions, the Pensions Regulator has said in its latest annual funding statement, and warned against prioritising dividends.
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NewsTourist board employers block scheme valuation
The British Tourist Authority and VisitScotland have yet to sign off on their scheme’s 2015 valuation as they are looking to secure guarantees from the UK and Scottish governments, in what has been described as a “torturous” process.
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FCA tackles information deficit with new rules and consultation
The Financial Conduct Authority has published new rules on the duties of fund managers and is launching a consultation on proposed rules and guidance for improving fund information for investors.
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The People's Pension absorbs Your Workplace Pension
The People's Pension has become the first mastertrust to publicise the acquisition of another mastertrust, as a new regime – under which mastertrusts must be authorised by the Pensions Regulator – is set to lead to further market consolidation this year.
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Default drawdown tops select committee's at-retirement wishlist
Providers of drawdown products should be required to develop charge-capped default products to help disengaged savers make their pension last, the Work and Pensions Committee has recommended.
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Fast Pensions in provisional liquidation following investigation
Six companies, including Fast Pensions and FP Scheme Trustees, have been placed in provisional liquidation by the High Court following an investigation by the Insolvency Service, the government agency has said.
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TPR to prosecute recruitment firm
The Pensions Regulator is to prosecute recruitment company Workchain Ltd and seven of its directors and staff for unauthorised access to a computer programme. They are accused of logging into the company pension scheme using employees' details to opt them out of the scheme.
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Ofwat queried on water companies' DB closure plans
Chair of the Work and Pensions Committee Frank Field has written to Ofwat, the utilities regulator, about proposals by United Utilities and Anglia Water to close their defined benefit schemes to future accrual while continuing to pay out large amounts to shareholders.