All articles by Pensions Expert – Page 23
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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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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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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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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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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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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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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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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.
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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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TUC cautions over ‘pensions lottery’
The Trades Union Congress has today said that workers face a “pensions lottery” upon retirement.
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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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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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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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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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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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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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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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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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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.