All articles by Stephanie Hawthorne – Page 9
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MPs urge DWP to review scope and level of charges cap
The Work and Pensions Committee is ramping up the pressure on the government and the Financial Conduct Authority to cap the level of charges on default retirement products.
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ACA reignites pensions v house purchase debate
On the go: The Association of Consulting Actuaries is calling for new flexible savings products designed to fulfil young savers’ housing and pensions aspirations.
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Active equity fees fall by 11 per cent since 2017
On the go: The average fee for an active global equity mandate has fallen by 11 per cent since 2017, according to consultancy LCP, as competition from low-cost index tracking vehicles sees costs improve across most asset classes for institutional investors.
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Record 336,000 retirees access their pensions
On the go: More retirees than ever are withdrawing money from their pension pots as the popularity of freedom and choice continues unabated.
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Half of public sector pension boards meet fewer than four times a year
On the go: Only half of public sector schemes held four or more pension board meetings in the previous 12 months, the Pensions Regulator has found.
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Maps recruiting for dashboard steering group
On the go: The Money and Pensions Service launched a recruitment drive on Thursday for members of a steering group for the pensions dashboard, as the project inches closer to fruition.
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DB governance not up to scratch, finds XPS
On the go: Only 22 per cent of pension schemes have a defined plan of action if their funding level falls, according to a recent XPS Pensions governance survey, which found huge variations in standards of scheme management across the sector.
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Young teachers opting out of pensions as cost of living bites
On the go: There is a small but discernible trend for young teachers to opt out of the Teachers’ Pensions Scheme, with unions blaming the high costs of living and low pay.
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390,000 people have transferred out of DB schemes since 2016
On the go: More than a third of a million people have transferred out of defined benefit pension schemes since 2016-17, according to data from the Pensions Regulator.
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Transfers head list of complaints at the Pensions Ombudsman
On the go: Complaints to the Pensions Ombudsman rose by 5 per cent according to its recently published annual report and accounts for 2018/19.
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Royal London: Retirees’ withdrawals range from 4 per cent to 10 per cent a year
On the go: People using the pension freedoms are taking income at rates varying from 4 per cent to 10 per cent, depending on their pot size and income needs.
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Military pension verdict could open floodgates for public sector claimants
On the go: A woman has won the right to her late partner’s military pension in a Court of Appeal ruling on the rights of unmarried couples.
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3 in 4 companies happy to extend AE to self-employed and low-paid
On the go: Three quarters of businesses back the extension of auto-enrolment to include the self-employed and those earning less than £10,000 a year, but have a limited appetite for mandatory contribution increases, according to new research.
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FTSE 100 employers' DC contributions rise to 7.1 per cent
On the go: FTSE 100 employers are paying more than ever into their staff's defined contribution pensions, and are some way ahead of auto-enrolment minimums, a new report has found.
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BoE highlights systemic risk of funds’ use of leveraged loans
On the go: Pension fund liability-driven investing techniques are among the systemic risks to the UK’s financial system highlighted by the Bank of England in a new report.
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PIC de-risking reaches £6bn in H1 with £40bn in pipeline
On the go: The Pension Insurance Corporation has completed nine de-risking transactions totalling £6bn in the first half of 2018, a record for the company with a pipeline of new business of more than £40bn.
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APPT delays start of professional trustee accreditation system
On the go: The start of the new process for accrediting professional trustees has been delayed. Originally set to start in the summer of 2019, arrangements are now expected to be finalised later this year.
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Supreme Court denies BT right to appeal in £2bn indexation battle
On the go: The Supreme Court has denied BT the opportunity to appeal against the Court of Appeal’s ruling preventing the company from downgrading the inflation protection given to some of its defined benefit members.
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Co-op trustees opt for green default fund with LGIM
On the go: The trustees of the £11bn Co-op pension scheme, Pace, have chosen Legal & General Investment Management’s Future World Multi-Asset Fund as the default for its defined contribution section.
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World’s largest companies fail to meet Paris climate goals
On the go: Only one in eight of the world’s largest-emitting companies are reducing carbon emissions at the rate required to keep global warming below 2C, a major new report has found.