All Pensions Management Institute articles – Page 3
-
NewsBA trustees disembark as destination comes into view
A British Airways defined benefit scheme is shrinking its trustee board size, due to decreased workload after a buy-in and successfully weathering the Covid-19 funding storm.
-
OpinionKeeping conferences alive during lockdown
The Pensions Management Institute vice-president Tim Phillips discusses the importance of conferences for the pension industry – put on hold due to the current Covid-19 crisis – and how new technologies need to be developed so cross industry-collaboration and professional networking can continue to flourish.
-
News
PMI launches accreditation course for professional trustees
On the go: The Pensions Management Institute has launched its course for professional trustees seeking accreditation, after an apparent split with the Association of Professional Pension Trustees.
-
News
TPR to test trustees’ knowledge in bid to improve governance
The Pensions Regulator plans to conduct checks on trustees’ knowledge to assure governance standards in the industry, and has promised to consider appropriate action where they fall below expectations.
-
News
Professionals say regulation creating unnecessary costs
On the go: A survey of pensions professionals has uncovered concerns about the added cost burden placed on schemes by increasingly strict regulation.
-
OpinionIntroduction of professional trustees should be gradual
The industry remains divided over whether trustee boards should be mandated to appoint a professional trustee because, while they might improve standards, they also lead to an increase in costs. To tackle this, the Pensions Management Institute’s Lesley Carline explains why the regulator should adopt a phased introduction of professional trustees.
-
News
Pension professionals distrust consolidation, finds PMI poll
On the go: A significant minority of pensions professionals are distrustful of both defined contribution and defined benefit consolidation, according to a poll from the Pensions Management Institute.
-
News
Professional trustee standards created to encourage better practices
The introduction of formal standards for professional trustees has been welcomed as a vital step in improving scheme governance, but concerns remain over whether the framework is robust enough.
-
FeaturesM&S portal launch sees 12,000 DB members sign up
Marks and Spencer has launched a new portal service for its defined benefit scheme members, offering access to pension records on demand and enabling them to complete a wide range of tasks.
-
News
PMI report predicts just 20 master trusts in five years’ time
On the go: There will be no more than 20 master trusts in five years’ time, according to in an influential report from the Pensions Management Institute, which predicts the new master trust authorisation regime will lead to widespread consolidation and collaboration.
-
OpinionWhy does DC still go wrong?
Manual interventions in automatic processes mean there is still the potential for defined contribution administration to go wrong. Taking a step back could help trustees and administrators spot mistakes before they are too difficult to unpick, says the Pensions Management Institute’s Lesley Carline.
-
OpinionMastertrust sector still concerned about new regime
The Pensions Management Institute’s working group on mastertrusts has revealed that while the industry welcomes authorisation with open arms, particpants remain unclear on what form the new regulatory regime will take, writes PMI president Lesley Carline.
-
OpinionWhat the DWP’s new DB funding code could mean for trustees
The Pensions Management Institute’s Lorraine Harper discusses the revised regime for scheme funding set out in the Department for Work and Pensions’ white paper on defined benefit pension schemes, published earlier this year.
-
OpinionBoost innovation and understanding
There needs to be a shift in public policy to create a savings culture and boost understanding, argues Lesley Carline, vice-president of the Pensions Management Institute.
-
News
PLSA pushes for retirement income targets and AE increases
The Pensions and Lifetime Savings Association has set out its final recommendations from its ‘Hitting the Target’ consultation, calling for an increase in minimum auto-enrolment contributions to 12 per cent, and the introduction of retirement income targets.
-
News
TPR plan welcomed, but concerns remain over consistency
The industry has welcomed the Pensions Regulator's new corporate plan, which outlines how it plans to become “clearer, quicker and tougher”, but concerns remain over consistency and the watchdog's focus on smaller schemes.
-
OpinionRegulator must work with industry on professional trustee standards
Both the Pensions Regulator and industry working groups are seeking to define the responsibilities and standards expected of professional trustees. If they do not achieve consistency, writes the Pensions Management Institute’s Tim Middleton, it will be hard to justify their implementation.
-
Features
Pearson follows pack in targeting drawdown for DC defaults
The Pearson Pension Plan is introducing two new lifestyle options for its defined contribution members as they approach retirement, responding to a perceived demand for greater flexibility.
-
OpinionIs this the first step towards a single regulator?
The engagement between the Financial Conduct Authority and the Pensions Regulator should be welcomed, says Robert Branagh from the Pensions Management Institute.
-
News
Could airline black box approach take off in the pensions industry?
A Pensions Institute report published on Wednesday has suggested that emulating the airline industry’s black box thinking approach of systematically analysing mistakes could solve many of the problems facing defined benefit schemes.