All articles by Pensions Expert – Page 18
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RPMI Railpen commits to new joint venture vehicle
RPMI Railpen has committed to a new joint venture vehicle to provide initial capital to breakthrough emerging private equity and alternatives managers.
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Chappell ordered to pay £87k for failing to give info about BHS sale
Dominic Chappell, the director and majority shareholder of the company that bought BHS for £1, has been ordered to pay over £87,000 for failing to give information to the Pensions Regulator.
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CMA sets out publishing timetable for fiduciary investigation
The Competition and Markets Authority could publish the first of its findings on the UK investment consultancy market as early as this month, according to a provisional timetable released on Wednesday.
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Field: Bring GAD information within ombudsman remit
The chair of the Work and Pensions Committee, Frank Field, wants to see the government bring forward measures to ensure information provided by the Government Actuary's Department to individuals is within the remit of an ombudsman.
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TPR investigates schemes suspected of cold-caller links
The Pensions Regulator and police have begun an investigation into several schemes suspected of links to cold-calling activities; the police has interviewed two people under caution and arrested a third before releasing him.
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Carillion divestor considered lawsuit over reporting
Shareholders of the failed outsourcer Carillion had concerns about the business’ strength as early as 2015, according to a select committee inquiry into its collapse, raising questions about the transparency of the group’s financial reporting.
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Field: Carillion directors ‘contemptuous’ of pension obligations
Letters from trustees of the main Carillion pension schemes to the Pensions Regulator suggest that directors of Carillion were “contemptuous” of their pension obligations, according to chair of the Work and Pensions Committee, Frank Field.
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Field wants Green to seek TPR clearance for Arcadia sale
Work and Pensions Committee chair Frank Field has written to Sir Philip Green asking him to commit to seeking voluntary clearance from the Pensions Regulator before selling Arcadia Group. Field said he will also write to the Pensions Regulator.
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Third of adults miss most obvious scams
Close to a third of adults missed the most obvious pension scams in a survey testing people's understanding of fraudsters' tricks, and 79 per cent said stricter rules and checks are needed to protect savers.
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DWP response on scams and guidance 'light on details'
The Department for Work and Pensions has said it will "continue to work swiftly" to bring in a cold-calling ban, but commentators have warned more needs to be done to protect vulnerable savers.
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TPAS dispute function to be absorbed by ombudsman
The dispute resolution function of the Pensions Advisory Service is to move to The Pensions Ombudsman, in a bid to simplify the process for savers who are dissatisfied with their scheme's service.
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Auto-enrolment passes 1m employers
More than 1m employers have now enrolled their staff into a workplace pension, according to figures compiled by the Pensions Regulator.
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TPR and FCA to launch joint pensions strategy
The Pensions Regulator and the Financial Conduct Authority are to develop a joint regulatory strategy for the pensions sector, identifying and addressing the key risks for the industry over the next five to 10 years.
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Pensions Ombudsman investigates transfer complaints
The Pensions Ombudsman is investigating a group of over 150 complaints surrounding transfer values relating to the British Steel Pension Scheme. It will soon carry out another investigation over member complaints about early retirement factors.
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Trinity Mirror commits to Northern & Shell schemes
Trinity Mirror has announced the acquisition of Northern & Shell's publishing assets for a total purchase price of £126.7m. The buyer has agreed measures to support its acquisition’s pension schemes.
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Govt ignores self-employed pensions in gig economy crack-down
The government is seeking to address concerns over working conditions in the so-called 'gig economy' by giving workers more protections and greater clarity around their rights, but has failed to address the issue of pension saving among the self-employed, according to industry commentators.
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TPR fines airline's scheme for failing to get accounts audited on time
Four trustees of the Pakistan International Airlines Retirement and Death Benefits Plan have been fined £500 each for failing to get accounts audited on time for two years in a row.
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Bus firm and boss to pay £60k for failing to offer staff pension
A bus company and its managing director have admitted to trying to deliberately avoid giving their employees workplace pensions, and now must pay more than £60,000.
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WPP buys in £140m across five schemes
Communications services giant WPP has insured £140m of defined benefit liabilities with the Pension Insurance Corporation.
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Dow Chemical opts for multi-country DC provision
Multinational Dow Chemical is moving its defined contribution plans in the UK and the Netherlands to an international DC solution.