All articles by Pensions Expert – Page 14
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News
Select committee launches costs and transparency inquiry
The Work and Pensions Committee is to conduct an inquiry into transparency in the pensions industry, questioning whether individuals are able to understand the cost, performance and value for money of their pension products.
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News
Bank of England raises base rate to 0.75%
The Bank of England has raised its base interest rate to 0.75 per cent, its highest level since February 2009.
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News
Select committee chair loses no confidence vote by local party
Labour MP Frank Field has lost of vote of no confidence in his constituency, as local party members try to oust the Work and Pensions Committee chair over his support for Brexit.
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Brewery fined for refusing to share information with TPR
Samuel Smith Brewery and its chairman must pay fines of almost £28,000 for failing to hand over to the Pensions Regulator requested information relating to its defined benefit schemes, Brighton Magistrates Court ruled on Monday.
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News
CMA wants mandatory tendering to tackle competition weaknesses
On the go: UK pension schemes will be required to conduct competitive tender processes before hiring their first fiduciary manager, under recommendations set out by the Competition and Markets Authority on Wednesday.
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News
ABI expresses concerns over dashboard speculation
On the go: The Association of British Insurers has expressed concerns over the “threat to the pensions dashboard”, following speculation yesterday that secretary of state for work and pensions, Esther McVey, wants to kill off the project.
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News
Government appoints first CEO of single financial guidance body
On the go: The Department for Work and Pensions has appointed John Govett as the first chief executive officer of the new single financial guidance body.
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News
PA Consulting completes full buyout with PIC
On the go: Pension Insurance Corporation has concluded a full buyout of all members of the PA Pension Scheme, covering £850m of liabilities and approximately 2,400 members.
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News
Smart Pension fined for failure to report missing contributions
On the go: Smart Pension's trustee has been fined by the Pensions Regulator for failing to report unpaid pension contributions to members and the watchdog.
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TPR suspends trustee after fraud investigation launched
On the go: The Pensions Regulator has suspended a pension scheme trustee after detectives launched a fraud investigation.
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Opinion
DC Debate Q2: Deferred annuities, retirement expectations and more
Five defined contribution experts talk about deferred annuity products, retirement expectations, and how the industry is adapting to people's changing work patterns.
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News
ITV cleared to appeal Box Clever judgment
On the go: ITV has been granted permission to appeal a court decision upholding the Pensions Regulator's ability to issue a financial support direction against the broadcaster in relation to the Box Clever scheme.
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News
Recruitment agency admits illegally opting workers out of scheme
On the go: Seven members of senior management at recruitment company Workchain have pleaded guilty to gaining unauthorised access to computer data in order to opt the agency’s temporary workers out of its pension scheme.
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Opinion
DC Debate Q2: Default retirement pathways, flexibility and guidance
Five defined contribution experts discuss default pathways, striking a balance between flexibility and secure income, and the importance of guidance at retirement.
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News
Titcomb to leave the Pensions Regulator
On the go: Chief executive Lesley Titcomb will be leaving the Pensions Regulator at the end of her four-year contract in February 2019.
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News
TPR levies first fine on professional trustee
On the go: The regulator has disclosed that it has imposed a £3,000 fine against a professional trustee for failing to update their scheme’s register with news of their appointment.
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News
Select committees question regulator’s ambition on DB
On the go: The Pensions Regulator’s commitment to engaging proactively with poorly funded defined benefit schemes and their employers has been called into question by two parliamentary select committees, in a stinging letter that discusses the future of chief executive Lesley Titcomb.
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News
Regulator comes out on top in Box Clever case
On the go: The Pensions Regulator was right to seek to impose a financial support direction on ITV in relation to the Box Clever defined benefit pension scheme, according to a court judgement published on Friday.
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News
Marks and Spencer scheme completes £1.4bn buy-ins
On the go: Trustees of the Marks and Spencer Pension Scheme have purchased buy-in policies with Phoenix Life and Aviva totalling £1.4bn.
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News
National Grid and Zurich complete longevity transaction
More than £2bn of pensioner liabilities of the National Grid Electricity Group of the Electricity Supply Pension Scheme have been covered by an intermediated longevity swap deal with insurer Zurich.