All News articles – Page 71
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NewsCollective Enterprises Limited scheme secures full buy-in
On the go: The £1.3mn Collective Enterprises Limited Retirement and Death Benefits Scheme has agreed to a full buy-in covering all of its pensioner and deferred members.
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NewsTPR and FCA flag governance and competence concerns over LDI
The Pensions Regulator and the Financial Conduct Authority have raised questions over the governance of small schemes and the competence of some investors, in response to questions from a parliamentary committee over the use of liability-driven investments by pension schemes.
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NewsOmbudsman fines NHS trust £1,000 over additional pension ‘distress’
The Pensions Ombudsman has ordered the University Hospitals of Leicester NHS Trust to pay £1,000 to a scheme member for distress and inconvenience caused when payments were taken for an additional pension, which the complainant had wanted to set up but had not been actioned.
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NewsThree-quarters of asset managers yet to set climate transition targets
On the go: Seventy-three per cent of asset managers surveyed by consultancy Mercer have yet to set climate transition targets — such as goals on achieving net zero — across their strategies.
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NewsPension savers face ‘double’ tax hit as inflation soars
On the go: The government’s decision to freeze the lifetime allowance could yield up to £2bn for the Treasury, double the £1bn it previously projected due to a surge in inflation this year.
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NewsNational Grid loaned DB schemes £325mn during gilt crisis
On the go: The National Grid stepped in to loan £325mn to two of its defined benefit pension schemes during the recent crisis in the gilt markets at the end of October, according to its latest half-year results.
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NewsTruell seeks London listing for Long Term Assets
On the go: Long Term Assets Limited, led by Pension Insurance Corporation founder Edi Truell, has announced its intention to list its shares on the London Stock Exchange.
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NewsCivil servants vote for strike over pensions
On the go: Civil servants have voted to strike with the highest level of support for industrial action in the Public and Commercial Services Union’s history, in a dispute that includes pensions.
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NewsRegulators tell savers to ‘stay on guard’ over scams
On the go: The Pensions Regulator, the Financial Conduct Authority and the Money and Pensions Service have joined forces to warn savers against scams.
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NewsStandard Life transitions £15bn of DC assets into sustainable solutions
On the go: Standard Life has embedded a range of sustainable multi-asset funds for its 1.5mn pension scheme members, with around £15bn of sustainable solutions investments now managed on their behalf.
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NewsPIC invests £25mn in retirement community
On the go: The £44.1bn Pension Insurance Corporation, in partnership with Octopus Real Estate, has invested £25mn through a joint venture with retirement home developer and operator Elysian Residences, to develop the How Wood retirement community, which is valued at £115mn.
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NewsDashboards drive 26% surge in MaPS spend on pensions
On the go: The Money and Pensions Service significantly increased its expenditure on its pension streams for its year to March 31 2022, a move it said was driven by its spend on the dashboards initiative.
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NewsContributions surge 40% during decade of auto-enrolment
On the go: Total annual contributions to workplace pensions rose to £114.6bn in 2021, marking a 40 per cent rise since the advent of auto-enrolment in 2012.
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NewsHunt declines to commit to state pension inflation uprating
On the go: Chancellor of the exchequer Jeremy Hunt has told the chair of the work and pensions select committee that “there are difficult decisions to be made” in response to a request that social security benefits and state pensions be uprated in April 2023 in line with the consumer price index inflation rate recorded in September 2022.
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NewsFCA highlights investment consultant ‘gap in regulation’
The Financial Conduct Authority has told MPs that it previously pointed to the risks associated with liability-driven investments and suggested the existence of a “gap in regulation” linked to investment consultants, in response to questions over October’s market turmoil and its impact on pension schemes.
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NewsNest Insight launches emergency savings trial
On the go: Nest Insight, the research arm of the Nest master trust, has launched an emergency savings trial with financial wellbeing provider Wagestream to examine employee financial resilience and the impact of different nudges to encourage people to save.
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NewsOmbudsman fines Bionica Systems £1,000 for ‘missing’ contributions
On the go: The Pensions Ombudsman has ordered Bionica Systems to pay missing contributions of £2,311.86 into an employee’s scheme, and a further £1,000 for the “serious distress” caused by the error.
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NewsEssex commits £100mn to carbon offset impact fund
On the go: The circa £9.3bn Essex County Council Pension Fund has made a £100mn anchor commitment to the Stafford Carbon Offset Opportunity Fund as it further expands its global timberland portfolio and accelerates its transition to net zero.
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NewsUniversities set for ‘biggest ever’ strikes over pensions
More than 70,000 staff at 150 universities will go on strike for three days in November, in the latest escalation of a dispute that includes disagreement over the valuation of the Universities Superannuation Scheme.
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NewsFBU hits out at senior firefighter use of 'retire and rehire' practice
The Fire Brigades Union has accused some senior bosses across 13 UK fire and rescue services of having used controversial arrangements to access their pension early.