All articles by Pensions Expert – Page 17
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News
PIPA deadline extended to February 8
Asset managers, consultancies and pension schemes will have a further week to enter the 2019 Pension and Investment Provider Awards and stake their claim as the best in their respective industries.
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FCA proposes rules on investment pathways
On the go: The Financial Conduct Authority has set out its second proposed package of remedies from its Retirement Outcomes Review, in a consultation on investment pathways, ensuring investment in cash is an active decision, and actual charges information.
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PodcastsPodcast: ESG - Trustee investment duties explained
Podcast: New regulations coming into force this year mean pension schemes will be required to publish more-detailed statements of investment principles. These will address financially material environmental, social and governance risks, such as climate change. In this episode, Stuart O’Brien, a partner at law firm Sackers, discusses recent ESG-related developments, the danger of conflating ethical matters with ESG considerations, and explains how schemes can respond to member and pressure group queries.
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BSPS review calls for more guidance for schemes on restructuring
On the go: An independent review of the communications and support provided to steel workers as part of the British Steel Pension Scheme ‘Time to Choose’ exercise has called for better guidance for trustees to help them plan and manage a restructuring.
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24 companies wound up since 2015 due to pensions misuse
On the go: Since 2015, the Insolvency Service has applied to the courts to wind up 24 companies involved in pensions misuse, according to the government agency.
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Smart absorbs Lighthouse master trust as consolidation intensifies
On the go: Financial advice business Lighthouse Group has decided not to pursue authorisation for its master trust, handing over employers and members to competitor Smart Pension.
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Rookes and Hirons-Wood join Pension SuperFund trustee board
On the go: Defined benefit consolidator the Pension SuperFund has announced the addition of two further trustees to its board.
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APS trustees given go ahead to use scheme assets to fund appeal
On the go: Trustees of the Airways Pension Scheme have been given permission to use scheme assets to fund an appeal to the Supreme Court over APS discretionary increase litigation.
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Health secretary in talks with chancellor over pensions tax relief
On the go: Matt Hancock, the secretary of state for health and social care, is in discussions with the chancellor over the issue of pensions tax relief and the impact it has on GP retention.
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PIC invests further £125m in University of Exeter
On the go: Pension Insurance Corporation has completed an additional £125m investment with University Partnerships Programme, allowing UPP to design, build, fund and operate affordable accommodation for the University of Exeter.
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Accounts manager admits workplace pensions cover-up
On the go: A Bradford-based accounts manager lied to investigators to try to hide the fact that restaurants had not given their employees workplace pensions.
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PodcastsPodcast: A closer look at DB consolidation
Podcast: Last month, the government published a consultation on the consolidation of defined benefit pension schemes. What is the outlook for DB superfunds? And what should trustees consider if they are thinking about switching from a sponsor covenant to a consolidator covenant? In this episode, Alex Hutton-Mills, managing director at Lincoln Pensions, and Paul McGlone, president of the Society of Pension Professionals, discuss the consultation and whether early adopter nerves are holding back inflows to the new DB consolidators.
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DB funding slips lower over December
On the go: Surplus in the UK's defined benefit pension schemes evaporated over December, according to a funding measure used by the Pension Protection Fund.
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FTSE 350 pension deficit increased by 28% in 2018
On the go: The deficit of defined benefit pension funds for the UK’s 350 largest listed businesses rose to £41bn at the end of 2018, from £32bn at the end of 2017 – an increase of 28 per cent, according to Mercer.
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Select committee launches inquiry into contingent charging
On the go: The Work and Pensions Committee has launched an inquiry into contingent charges for defined benefit transfer advice.
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Regulator appoints Charles Counsell as new chief executive
On the go: The Pensions Regulator has announced the appointment of Charles Counsell as its new chief executive.
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Chappell fined more than £124k for failing to reveal info about BHS sale
On the go: Dominic Chappell, the director and majority shareholder of the company that bought BHS for £1, has been ordered to pay more than £124,000 for failing to hand over information to the Pensions Regulator.
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News
CMA upholds competition judgment on consultants and fid mans
On the go: The Competition and Markets Authority has published its final report into investment consultancy and fiduciary management, maintaining its finding of an adverse effect on competition in both sectors.
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News
TPR prosecutes accountant suspected of fraud
On the go: An accountant is to appear in court charged with fraud and making employer-related investments.
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PodcastsPodcast: Next steps for the pensions dashboard project
Podcast: Earlier this month, the Department for Work and Pensions published its long-awaited feasibility report and consultation on how the industry can create online pensions dashboards. What does the industry make of the study? And how much progress is needed to make the project a success? In this episode, Girish Menezes, board director at the Pensions Administration Standards Association, and Anthony Rafferty, managing director of fintech company Origo, discuss compulsion, dashboard governance and data.