All News articles – Page 63
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NewsOpperman rejects PPF and FAS inflation caps review
Pensions minister Guy Opperman has rebuffed an appeal from a trade union to review compensation levels in the Pension Protection Fund and the Financial Assistance Scheme, as the cost of living crisis looms over beneficiaries.
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NewsCourt dismisses trustee’s Barber window arrears claim
The High Court has ruled that members of the CMG UK Pension Scheme are not entitled to payment of arrears that fell due more than six years ago, despite the trustee’s attempts to continue paying them.
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NewsProviders take action to prevent reduced pension contributions
Providers have started to take action as more individuals move to reduce pension contributions as a result of the cost of living crisis.
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NewsNine in 10 DB transfers receive scam warning in July
On the go: Around 94 per cent of defined benefit transfers registered as having one or more scam warning signs, according to XPS Pensions Group.
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NewsThink tank urges reform of NHS pensions’ CPI link
Think thank Policy Exchange has advised the next prime minister to revise the relationship between the consumer price index and the annual allowance for public sector pensions, in a move that could help to limit the number of GPs and consultants retiring early to avoid punitive taxes.
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NewsCivil service union issues strike ultimatum
The Public and Commercial Services Union has threatened the government with strikes in the civil service unless it accedes to demands for improved pay, pensions and job security.
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NewsRising rates pose challenges for closed DB schemes’ LDI portfolios
While interest rate and inflation hedges have helped many defined benefit schemes stabilise their funding positions, the current macroeconomic environment is creating challenges for some closed plans, which might not have the necessary collateral in place to meet high payments.
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NewsPASA issues call to action on dashboards data matching
On the go: The Pensions Administration Standards Association has urged schemes to act now on data matching in preparation for dashboards, deciding how to digitally compare and match “find requests” from users against their records.
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NewsLCP urges caution before consolidating pension pots
On the go: Deciding whether to consolidate pension pots “is not a no-brainer”, consultancy LCP has warned, as it set out the advantages and disadvantages of consolidation in a new report.
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NewsExperts question timing of pensions awareness season
Commentators have queried the timing of the pensions awareness season starting later this year, which will take place during a mounting cost of living crisis ravaged by high inflation, surging energy bills and flagging consumer confidence.
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NewsFirefighters’ options exercise requires ‘corrective action’
On the go: “Corrective action” is required for certain members of the Firefighters’ Pension Scheme, after a number of Fire and Rescue Authorities failed to conduct an options exercise properly.
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NewsNationwide university strike ballots set for September 6
The University and College Union has confirmed that strike ballots over pensions, pay and conditions will be held on September 6, potentially paving the way for “unprecedented” nationwide industrial action.
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NewsUCU threatens ‘unprecedented strikes’ as USS reaches surplus
The University and College Union has strongly criticised the decision to cut staff benefits, as the Universities Superannuation Scheme’s June monitoring report reveals a surplus of £1.8bn and universities prepare to embark on billions of pounds in capital expenditure.
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NewsPPI: More data needed on ethnic groups’ retirement outcomes
On the go: While it is known that people from Pakistani, Bangladeshi, black, and other minority ethnic groups suffer poorer retirement outcomes than the white majority of savers, the data collected does not allow us to properly examine why that is the case, according to the Pensions Policy Institute.
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NewsPrivate markets managers ‘failing to provide climate data’
On the go: Private markets managers “seem generally unprepared to support clients” with the data they need to meet their Task Force on Climate-related Financial Disclosures requirements, Hymans Robertson has said.
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NewsCouncillor appeals for broader LGPS fund post-merger oversight
On the go: Scottish Greens councillor Shona McIntosh has tabled a motion for an upcoming East Lothian Council meeting, appealing for broader and more democratic oversight over the successor to the £8.6bn Lothian Pension Fund.
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NewsHigh inflation means pensioners will need extra £90,000
On the go: Pensioners will need an additional £90,000 to maintain a comfortable lifestyle due to rising inflation, according to research.
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NewsTrustee pair pleads guilty to making illegal loans
On the go: Two pension trustees have pleaded guilty to making illegal loans amounting to £236,000 from a company pension scheme to its employer, according to the Pensions Regulator.
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NewsIncorrect personal data prevents Nest member from opting out
A healthcare company has been told by the Pensions Ombudsman to repay an employee’s pension contributions, after he was unable to opt out due to the employer providing an incorrect date of birth and national insurance number to Nest.
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NewsUnion slams Crown guarantee for Atomic Weapons scheme
The government’s decision to grant a “Crown guarantee” for the Atomic Weapons Establishment Defined Benefit Pension Scheme has been criticised by one trade union for being too late to help its members.