All News articles – Page 255
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News
Regulation and markets force schemes to step up on governance
Efforts to cope with a combination of market volatility and demographic shift towards an older population are causing pension schemes to re-examine and improve their governance structures, research from State Street this week showed.
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NewsSelf-employed savings gap a 'ticking time bomb'
Pension arrangements for self-employed workers are in need of urgent review, MPs have been told, as industry figures consider the next steps for workplace pension policy.
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LGPS meets first pooling landmark
The Local Government Pension Scheme submitted initial proposals for asset pooling last week, but talks between funds are ongoing as the scheme works to meet government benchmarks.
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High Court ruling ramps up fears over pension liberation
The High Court has ruled against insurer Royal London for blocking a pension transfer where it suspected the receiving fund could be a pensions liberation scheme, prompting industry observers to raise concerns about protections for members, providers and trustees.
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NewsNHS cash for pensions offer could open loophole
An NHS trust has come under scrutiny for offering nurses cash to opt out of the pension scheme, which experts have said could lead to other employers copying the move.
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NewsIndustry concern over government's 'dangerous' ESG proposals
A proposal that would empower the government to intervene in local government pension investment decisions where they contradict British foreign policy has raised concern in the pensions industry.
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NewsLooser regulation needed as over-65s shun advice
Looser rules about financial advice could be necessary, as research shows more than half of over-65s have never sought regulated advice.
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News300 Scots hit by pension scam as advice gap persists
Scottish police are investigating a £10m pension liberation fraud that has targeted more than 300 people north of the border – a reminder for the industry of members’ vulnerability to evolving fraudulent operations.
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News
'Gold standard' pensions unattainable for most
Average earners targeting a “gold standard” pension of two-thirds pre-retirement income will need to work to age 77 at statutory minimum contribution levels, a new report has projected, underscoring the key role default levels will play as auto-enrolment matures.
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Transfers to be streamlined as more ask for quotes
The Pensions Regulator will introduce new guidance to ensure transfers between defined contribution schemes are completed promptly, the government said last week. This comes as defined benefit transfer values recovered in January after hitting a low in December.
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NewsM&S scheme in ample surplus as hedge pays off
The Marks and Spencer Pension Scheme has swung into surplus, thanks to a combination of outperformance of return-seeking assets and full hedging of interest rate risk, the company said last week.
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NewsNew report demystifies DC asset security
A new report from the Security of Assets Working Party will provide some much-needed guidance on defined contribution asset security and compensation, advising trustees to adopt a “pragmatic and proportionate approach” to a highly technical area.
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NewsEmployers feel the squeeze of AE
Employers are feeling the cost of providing auto-enrolment far more than scheme members, research from the Chartered Institute of Personnel and Development has shown.
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NewsOmbudsman ill-health decision underscores complexity for members
Schemes have been urged to maintain open channels of communication with employers and members around ill-health benefits after an ombudsman determination ruled against a member’s attempt to "rewrite history".
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News
Named and shamed: Should trustees publicly criticise service providers?
Any Other Business: This week, Financial Times columnist Lucy Kellaway created a buzz by publicly rebuking the head of marketing and communications at technology company Hewlett Packard Enterprise over an email he sent her criticising an article she had written.
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Scottish ruling creates confusion for pensions lawyers
Pensions lawyers need guidance on how to treat antiquated or onerous scheme rules, experts have said, after Scotland’s highest appeal court ruled that a legal firm must pay more than £62,000 to the Scottish Solicitors Staff Pension Fund.
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NewsRM deficit reduction highlights need to be proactive
Online teaching tools supplier RM has shortened its recovery plan and reduced its deficit by more than £10m using a combination of contributions, updated member information and a buy-in.
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News
Behind the painted veil: How transparency influences retirement outcomes
The pensions industry must address conflicts of interest ingrained across its systems, delegates heard at the transparency symposium last week, as the Financial Conduct Authority clamps down on the asset management industry.
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News
Rise in member contributions at Scottish Power shows impact of online tools
Energy company Scottish Power has seen a tenth of its stakeholder pension plan up their contributions following the introduction of a member portal that models pension outcomes and warns if an individual is likely to miss their target.
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NewsCap on golden handshakes could affect average earners at Magnox
Workers across the public sector will see a £95,000 cap on exit payments under a new clause added to the 2015-16 enterprise bill which could hit average earners at nuclear decommissioning company Magnox.