All News articles – Page 99
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NewsTrustees demand protection for schemes as McColl’s collapses
On the go: The trustee of the two defined benefit schemes sponsored by retailer McColl’s has called for the link with the sponsor company to be respected after administrators were appointed to oversee the fallout from the retailer’s collapse.
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NewsSchemes could bag £100bn in savings after bank base rate hike
The Bank of England’s anticipated move to raise rates could fuel huge savings for defined benefit schemes, although the inflationary outlook has deteriorated as the cost of living crisis continues to bite.
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NewsTPR in-person visits return after lifting of Covid-19 rules
On the go: The Pensions Regulator has said it is carrying out in-person spot checks on employers in a compliance push that has been enabled by the relaxation of coronavirus restrictions earlier this year.
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NewsUCU agrees marking boycott in latest USS escalation
On the go: Staff at 26 universities will take part in a marking boycott and strike action following the latest escalation of the ongoing Universities Superannuation Scheme pensions dispute.
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NewsElectricity pensioners launch campaign amid inflation fears
The Association of Electricity Supply Pensioners has launched a campaign to protect the benefits of more than 100,000 members of the Electricity Supply Pension Scheme, amid fears that pension increases that do not match inflation could amount to significant losses.
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NewsCrisis-driven mortality increase to reduce scheme liabilities
On the go: An increase in mortality rates brought about by the coronavirus pandemic, pressures on the healthcare system, and the cost of living crisis could see schemes’ liabilities reduced by around 2 per cent in the coming years, according to analysis from LCP.
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NewsClara ‘in talks’ to raise £100mn of new funding
On the go: Clara-Pensions, the first defined benefit “superfund” to be approved by the Pensions Regulator, is in talks to raise £100mn of new funding.
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NewsFTSE 350 DB deficit reaches two-year low amid bond yield rise
The accounting deficit of the defined benefit schemes of the UK’s 350 biggest public companies fell to £45bn at the end of last month — a level last seen in April 2020.
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NewsUniversal Office Supplies scheme agrees £47mn buy-in
On the go: The Universal Office Supplies Pension Scheme has agreed a buy-in with Legal & General.
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NewsTPR aims for transparency in consolidated enforcement powers
The Pensions Regulator has launched a consultation into a new draft enforcement policy document that aims to consolidate existing enforcement policies governing defined benefit, hybrid, public sector and defined contribution pension schemes.
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NewsNest brings private equity investment to UK savers
On the go: Master trust Nest has opened the door to private equity investment for millions of UK pension savers. Nest, which manages £24bn in assets and whose customer base represents a third of the UK workforce, has launched a private equity fund in tandem with Schroders Capital.
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NewsTPR has used AE powers more than 500,000 times since 2012
On the go: The Pensions Regulator has used its enforced powers on automatic enrolment compliance on more than 500,000 occasions since July 2012, it has revealed.
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NewsNationwide completes £172mn buy-in with Canada Life
On the go: The circa £7bn Nationwide Pension Fund has completed a £172mn bulk annuity transaction with Canada Life for its circa £338.2mn Cheshire and Derbyshire Section.
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NewsSchemes to weigh up £8bn cost of discretionary increases
Defined benefit schemes in the UK will have to weigh up the significant costs of granting discretionary increases later this year, which could add up to £8bn in liabilities across private sector DB schemes, according to Aon.
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NewsStandard Life’s sustainable switch and a new LGPS active fund
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including a new sustainable multi-asset profile from Standard Life, a £1bn sustainable global equities fund from LGPS Central, and an anti-scams pledge from the Universities Superannuation Scheme.
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NewsOne in three employees want paid-for adviser pensions consultations
On the go: Nearly a third of employees believe they are being kept in the dark over their pensions by their employers, while a similar amount (28 per cent) want their employers to pay for meetings with advisers to discuss their concerns about their retirement savings.
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NewsHSBC pensions ‘clawback’ resolution defeated at AGM
On the go: A resolution against so-called pensions “clawback” at HSBC was defeated at the bank’s annual meeting, with 94 per cent of votes cast against abolishing the practice.
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NewsPrudential empties client’s pension pot in error
On the go: Prudential has come under fire after it accidentally paid out the entirety of a client’s pension pot after only the lump sum amount was requested.
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NewsLess than third of schemes regularly track individual fund performance
On the go: Just 30 per cent of pension schemes regularly monitor individual fund performance as experienced by members, according to new research.
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NewsNest Insight sidecar savings take-up lags interest
On the go: Ninety-eight per cent of people who think Nest Insight’s sidecar savings product would help them have not signed up to use it, the research unit has admitted.