All News articles – Page 73
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NewsOPSC: fund managers should vote according to client’s expressed view
On the go: The Occupational Pensions Stewardship Council has released a report arguing for communication between schemes and fund managers on their voting intentions, and outlining the communication that schemes should undertake to make their requirements known to funds.
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NewsBarnett & Hall Holdings scheme agrees £21mn buy-in
The £31.2mn Barnett & Hall Holdings Pension Scheme has secured a circa £21mn buy-in with Legal & General Assurance Society ahead of a potential future buyout.
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NewsSelf-assessment pension trials results expected in summer
On the go: The results of a trial to boost retirement savings for the self-employed, involving the existing self-assessment tax system, will be published in summer, a Treasury minister has revealed.
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NewsTPR warns trustees about imminent dashboards deadline
The Pensions Regulator has launched a campaign urging trustees to prepare for the pensions dashboards deadline, as new research shows that less than 10 per cent of schemes have begun to digitise the information they hold in preparation for the initiative.
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NewsCost of discretionary increases to combat inflation could hit £18bn
The cost of awarding discretionary increases to members could now add £18bn to defined benefit schemes' liabilities, experts have warned, as inflation continues to rise.
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NewsProviders to engage with members on ESG under ‘green nudge’ trial
On the go: Smart Pension, Aviva and Hargreaves Lansdown will be encouraging members to learn more about making greener pension choices under a new trial.
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NewsGovt to push ahead with firefighters and police McCloud reforms
The government will press ahead with planned reforms implementing the McCloud remedy with respect to members of the police and firefighters’ pension schemes, making amendments to ill-health provisions for the latter, despite concerns the remedy might itself be discriminatory.
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NewsABI calls for 12% auto-enrolment minimum contributions by 2031
The Association of British Insurers has called on the government to increase minimum auto-enrolment contributions to 12 per cent by 2031.
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NewsSchemes start to gather learnings from first TCFD reports
As the first group of UK schemes have completed their Task Force on Climate-related Financial Disclosures reports, they have been challenged by the long process, incomplete and inconsistent data, and lack of mandatory reporting from fund managers.
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NewsVolume of legislative change is main barrier for admins
On the go: Two-thirds of administrators identified the volume of legislative change as one of the main barriers they faced to providing a high-quality service, according to new research.
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NewsPASA guidance addresses ‘ever-changing’ DC landscape
On the go: The Pensions Administration Standards Association has updated its defined contribution guidance to account for the “ever-changing” complexities in the sector.
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NewsState pension age increase doubles poverty rates for over-65s
On the go: The rise in the state pension age from 65 to 66 has doubled poverty rates for the age group, resulting in over-65s losing state pension income worth around £142 a week in 2020-21.
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NewsNew ONS data exposes ‘shocking’ pensions inequality
On the go: One-10th of the UK population held more private pension wealth than the rest of the country combined between 2018 and 2020, new research has revealed.
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NewsDWP gives schemes greater scrutiny of asset managers on voting
Pension schemes will be able to use the asset manager tender process to challenge prospective managers on how they would vote on shareholder resolutions, the government has said.
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NewsDWP to consider remedies after pension mispayments
On the go: The Department for Work and Pensions has said it is investigating remedies after millions of people have received the wrong pension for decades due to government IT failures.
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NewsTPR considers regulatory action in Norton Motorcycles case
On the go: The Pensions Regulator is considering taking regulatory action against Stuart Garner, former owner of Norton Motorcycles, its chief executive has revealed.
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NewsBulk annuity deals hit £27.7bn in 2021
On the go: Buy-in and buyout transactions hit £27.7bn in 2021, with the majority of deals, representing £20.9bn, occurring in the second half of the year, according to new research.
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NewsUSS launches £1bn asset-backed securities push
On the go: The £90bn Universities Superannuation Scheme has launched an in-house mandate to invest in asset-backed securities.
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NewsNest seeks ESG provider, IIGCC releases infra net zero guidance
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including Nest’s tender for an ESG data provider, and the Institutional Investors Group on Climate Change’s new net zero guidance for infrastructure investments.