All articles by Pensions Expert – Page 17
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DB deficits increase in February
Defined benefit deficits across schemes eligible for the Pension Protection Fund have increased to £72.1bn at the close of February 2018, from a deficit of £51bn at the end of January 2018.
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Govt creates taskforce to boost private social impact investment
Theresa May has commissioned an industry taskforce on social impact investment, led by vice-chair of Allianz Global Investors Elizabeth Corley.
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Striking academics turn down pension offer
The University and College Union has voted to reject proposals agreed by the union and Universities UK over pension pay, meaning lecturers will continue to strike.
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Shadow work and pensions secretary 'stood down'
The Labour Party’s shadow work and pensions secretary, Debbie Abrahams, has been forced to leave her role over allegations reportedly related to claims over her behaviour.
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UUK and UCU strike pensions deal
Universities UK, which represents employers, and the University and College Union have said they reached an agreement on Monday in the dispute about the closure of academics' defined benefit arrangement.
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Anglian Water in spat with three unions
Anglian Water has refused to meet unions GMB, Unite and Unison for talks at a conciliation service over the closure of its defined benefit pension scheme, prompting them to accuse it of provoking industrial action.
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Healthcare company pleads guilty to misleading TPR
A Birmingham-based healthcare company and its managing director have pleaded guilty to misleading the Pensions Regulator about enrolling staff into a workplace pension, after a whistleblower raised the alarm.
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Civil service scheme overpaid pensioners by £22m
Pensioners of the Civil Service Pension Scheme have received historic overpayments of £22m and face reduced pensions to correct the mistake.
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TPR appoints new policy lead
The Pensions Regulator has hired David Fairs as its executive director for regulatory policy, analysis and advice.
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Government commits to 2018 cold-calling ban
The Department for Work and Pensions has committed to banning pensions cold calls by June this year, bowing to pressure from MPs and peers to bring forward its timetable for taking action.
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DB deficits continue to decrease but tensions remain
Defined benefit deficits across UK private sector pension schemes have decreased to £105bn from £180bn last year.
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Universities minister: Compensate students for UCU pensions strike
Universities minister Sam Gyimah has said universities should compensate students for teaching time lost because of academics' ongoing strike over pensions.
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Trustees lack info to judge fid man and consultant VfM, finds CMA
Competitive processes are not providing customers with the necessary information to judge the value for money of investment consultants and fiduciary managers, the Competition and Markets Authority has said.
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NewsPPF reassures Toys R Us members after insolvency
US retail chain Toys R Us has become insolvent despite a creditor agreement late last year. Its pension scheme, with an estimated £25m deficit, has been in a Pension Protection Fund assessment since December.
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Post Office workers’ scheme agrees £450m buy-in
The Royal Mail Pension Plan has agreed a £450m bulk annuity transaction to insure the liabilities of its Post Office Limited section.
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Cost of tax relief plateaus at £38.6bn
The cost of tax relief on pension contributions has reached £38.6bn, only £100m more than the previous year, after jumps in 2015 and 2010. Deducting pension-related tax, the figure comes down to £25.2bn.
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DWP changes DC cost disclosure rules
On the go: The Department for Work and Pensions has made a number of changes to disclosure rules relating to costs and investments in defined contribution workplace schemes.
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TUC cautions over ‘pensions lottery’
The Trades Union Congress has today said that workers face a “pensions lottery” upon retirement.
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'Risk-averse' former Carillion FD sold off shares
MPs have published evidence from Carillion's former financial directors, showing that one sold all of his shares in the company as soon as possible after retiring.
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DWP to ‘investigate’ extending removal of member consent for bulk transfers
The government has made a number of changes to regulations that will allow bulk transfers without member consent to schemes that have never been contracted out, and has said it will look into whether the rules should also apply to non-salary-related schemes.