All News articles – Page 56
-
NewsChancellor non-committal on pensions triple lock
On the go: Chancellor Jeremy Hunt says he is “not making any commitments” on the pension triple lock, just weeks after his predecessor Kwasi Kwarteng reiterated the government’s commitment to this safeguard.
-
NewsLDI funds prepared for ‘much larger increases in yields than before’
Liability-driven investment funds have built sufficient capital to shield themselves from the impact of further spikes in gilt yields, the Bank of England has said.
-
NewsBulk annuity transactions reach £12bn in first half of 2022
On the go: The total volume of buy-in and buyout transactions reached £12bn in the first half of 2022, according to research from Hymans Robertson.
-
NewsRogue trustees to pay £880,000 redress bill
Trustees of the BWFS Occupational Pension Scheme were found to have committed “multiple breaches of trust and many acts of maladministration” by the Pensions Ombudsman.
-
-
NewsDWP concedes to industry demands on dashboards lead time
The Department for Work and Pensions has recognised its proposed 90 days pensions dashboards lead time “creates challenges” for schemes and administrators, and will now give providers a six-month notice before the project goes live.
-
NewsPension contributions down as UK faces ‘retirement time bomb’
On the go: Two-fifths of businesses with more than 500 employees have warned that employees are lowering their pension contributions in response to the cost of living crisis, according to one pension provider.
-
NewsGilt yields drop while schemes plan for life after mini-Budget U-turn
Pension schemes are reviewing their asset allocations and resilience to future market shocks, as gilt yields fell in response to the abandonment of most measures presented in the September “mini” Budget.
-
NewsDWP aims to consult on multi-employer CDC this year
The Department for Work and Pensions will consult on multi-employer collective defined contribution schemes before the end of 2022, according to a senior civil servant.
-
NewsKwarteng out as LDI derivative losses set to hit £149bn
Market moves: Liz Truss sacks Kwasi Kwarteng, with Jeremy Hunt installed as chancellor; JPMorgan estimates market-to-market losses from liability-driven investment derivatives could hit $167bn (£149bn); and schemes rush to prepare as the Bank of England ends its bond-buying programme.
-
NewsExperts warn DWP rules could lead more schemes to LDI
With pension funds still dealing with the current market turmoil, experts point out the government’s proposed rules for defined benefit funding could force schemes into an even lower-risk environment, increasing the need for liability-driven investments.
-
NewsColumbus’s egg and leverage in LDI
There is a story about hindsight that dates back to the 1500s. It involves Christopher Columbus and his discovery of the trade route to the West Indies.
-
NewsTPR’s Counsell: DB schemes are not at risk of collapse
Defined benefit pension schemes were not on the verge of collapse before the Bank of England’s gilt market intervention, the Pensions Regulator’s chief executive Charles Counsell has said.
-
NewsClara-Pensions expects consolidator competition ‘within a year’
On the go: The commercial consolidator Clara-Pensions expects to see other offerings providing competition in the market “in a year’s time”, according to chief executive Simon True, despite the “unhelpful economic environment”.
-
NewsBoE demands ‘appropriate levels’ of market resilience
On the go: The Bank of England has called on market participants to learn lessons from the current volatility in gilt markets and has said that it is monitoring the behaviour of liability-driven investment managers, with its gilt-purchasing programme set to end on October 14.
-
News‘Let’s rethink all’ member options before dashboards introduction
Legislative and policy assumptions about member behaviour as they approach retirement are completely out of sync with reality, and now is the time to “rethink all of it” before dashboards are introduced, according to Philip Brown, group director of policy and external affairs at B&CE, provider of The People’s Pension.
-
NewsSmall pots problem is ‘only going to get worse’
The number of small pension pots — and the costs of administering them — will continue to increase, despite efforts from the government and industry, a Pensions and Lifetime Savings Association panel has warned.
-
NewsTPR reached out to BoE for gilt market intervention
The Pensions Regulator has told MPs that it contacted the Bank of England and other regulators before the launch of its gilt-purchasing programme, to establish what actions they could take in response to volatility in the gilt market.
-
NewsTPR moots LDI power of attorney as Bailey rules out more support
The Pensions Regulator has called on defined benefit pension schemes to review their liquidity, liability hedging and governance processes, suggesting that managers of their liability-driven investments could be granted power of attorney over some assets to quicken trading.
-
NewsBurghart announced as minister for pensions and growth
On the go: Alex Burghart MP has been confirmed as minister for pensions and growth at the Department for Work and Pensions