All articles by Stephanie Hawthorne – Page 13
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LGIM votes against record number of companies in 2018
On the go: Legal & General Investment Management has broken its record for voting against companies of which it is a shareholder, as the asset manager tries to cement its stewardship credentials.
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ONS: Three in four people now members of a workplace pension
On the go: Since the introduction of auto-enrolment in 2012, the proportion of UK employees enrolled in a workplace pension has soared from 47 per cent to 76 per cent in 2018, according to research published today by the Office for National Statistics.
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Field: Sir Philip Green up to 'old tricks again' with Arcadia
On the go: The Work and Pensions Committee has condemned proposals to cut deficit recovery funding for the Arcadia pension schemes.
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Higher pension costs could see 57 schools closing
On the go: Fifty-seven independent schools could close because of the £1.1bn rise in the employers’ contribution to the Teachers’ Pension Scheme from September 1 2019, with a further 185 withdrawing from the scheme.
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Fiduciary managers struggle in 2018’s testing markets
On the go: Fiduciary managers significantly undershot their targets in 2018, with underperformance ranging from 6 per cent to more than 11 per cent, according to the first XPS FM Watch report.
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TPO orders trustees to repay £2.4m into pension scheme
On the go: The Pensions Ombudsman has required the trustees of Henry Davison Limited Pension Scheme to repay £2.4m back into the scheme.
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Tax regime ripe for reform says AJ Bell as 12,000 lose LTA protection
On the go: Over 12,000 pension savers have breached lifetime allowance ‘protections’ in the past 12 years, leaving them to face tax bills running into hundreds of thousands of pounds.
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British Airways agrees settlement with APS
British Airways has finally agreed an out of court settlement with the trustees of the Airways Pensions Scheme.
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Govt greenlights dashboards but timetable questioned
On the go: Pension schemes will be allowed up to four years to submit data to the pensions dashboard, sparking concerns that services appearing later this year will not be comprehensive.
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Church of England scheme gives ultimatum to mining companies
On the go: In the wake of the collapse of the tailings dam in Brumadinho, Brazil, which killed at least 84 people and left hundreds missing, 96 institutional investors have been stirred into action.
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L&G legacy pension members face higher charges, finds IGC
On the go: In its fourth annual report, Legal & General's independent governance committee gave the company an overall high score, but flagged up steep charges on legacy pension products.
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PLSA policy board sets priorities for next four years
On the go: The Pensions and Lifetime Savings Association’s new policy board has set its priorities for the next four years, with specialist sub-committees formed for defined benefit and defined contribution schemes, local authority schemes and master trusts.
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Workers unaware of auto-enrolment contribution hike
On the go: More than a quarter of workers are unaware of automatic enrolment increases taking effect from Saturday, according to Aviva research.
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‘Large casualties’ expected as master trust authorisation window closes
On the go: Thirty master trusts have applied for authorisation to the Pensions Regulator by the closing date for applications of March 31. A further 10 schemes have been granted an extension and are expected to file an application in the coming weeks.
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FTSE 350 pension deficit reaches 18-month high
On the go: The UK’s 350 largest listed companies have seen the deficit of their defined benefit pension schemes reach an 18-month high, increasing from £45bn at the end of February to £55bn by the end of March, according to Mercer.
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Transfer values rise sharply during March as demand remains high
On the go: Pension transfer values rose substantially during March, peaking at almost £251,000, according to consultancy XPS Pensions.
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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.
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Select committee gives pension industry low marks for transparency
On the go: The pensions and financial inclusion minister Guy Opperman, and John Glen, the economic secretary to HM Treasury, were grilled by the Work and Pensions Committee investigating pension costs and transparency on Wednesday.
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NewsEmployers and academics rail against new USS contribution rate
Employers and workers alike have expressed concern over proposed contribution hikes to Britain’s biggest private sector pension scheme, the £63bn Universities Superannuation Scheme.
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Covenant risk tops trustees’ list of concerns
On the go: Employer covenant risk is defined benefit pension schemes’ greatest worry, according to a poll of 42 trustees and their advisers by professional trustee company PTL.