All The Pensions Regulator (TPR) articles – Page 6
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NewsPension schemes to disclose performance under VfM rules
Pensions schemes will be required to disclose investment performance, net of all costs, as part of the new value for money framework.
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NewsAuto-enrolment thresholds held amid cost of living concerns
On the go: The government has confirmed that auto-enrolment thresholds will be held at their current levels for the next year.
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NewsLDI turmoil could reduce DB schemes’ investment in illiquids
The fallout from the September market turmoil will be “wide-ranging” for UK defined benefit schemes, with regulatory changes influencing their capacity to invest in less-liquid growth strategies, according to a new report from Bloomberg Intelligence.
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NewsNew DB funding code could cost employers up to £34bn
The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted consultancy LCP to call on the government to give more time to sponsors to adjust to the new regime.
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NewsTPR delays investment data collection from DB schemes
The Pensions Regulator will not be collecting data on fiduciary management and investment consultants from defined benefit schemes as part of its 2023 scheme return, which can present a “gap in compliance”, experts have warned.
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NewsLDI funds sold £23bn of gilts during market turmoil
Liability-driven investment funds sold £23bn of gilts in three weeks during the market turmoil in 2022, with pooled funds being forced sellers, Andrew Bailey has revealed.
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NewsNew British Steel scheme secures third buy-in
On the go: The British Steel Pension Scheme has signed a £2bn buy-in with Legal & General, bringing the total liabilities insured to around 60 per cent.
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NewsTPR urges trustees to support DC savers amid economic challenges
The Pensions Regulator has said savers must be supported during current economic volatility amid concerns the value of some defined contribution pots has fallen.
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NewsGovt actuary calls for improved data on schemes' LDI strategies
The government actuary has called on the Pensions Regulator to start collecting more data from defined benefit schemes about their liability-driven investments, among other suggestions to increase the visibility of risks associated with these strategies.
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NewsDB schemes mull legal action against LDI asset managers
Defined benefit schemes that suffered losses as a result of the recent market volatility are considering bringing legal claims against their asset managers and advisers, legal experts have warned.
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NewsDavid Fairs leaves TPR to ‘pursue new challenges’
On the go: David Fairs is leaving his role as executive director of regulatory policy, analysis and advice at the Pensions Regulator in March this year.
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NewsPensions Ombudsman orders rogue trustees to repay £12.6mn
The Pensions Ombudsman has ordered a trio of pension scheme trustees to repay £12.6mn, after it found “multiple breaches of trust and many acts of maladministration”, which caused the loss of funds and impacted members’ pensions.
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NewsPPF urged to consider FCA authorisation
The Department for Work and Pensions has encouraged the Pension Protection Fund’s board and executive to consider seeking authorisation by the Financial Conduct Authority, either for the PPF itself or for a subsidiary.
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NewsTPR appoints FCA’s Delfas as chief executive
On the go: The Pensions Regulator has appointed Nausicaa Delfas as its new chief executive, taking over from Charles Counsell, who is due to step down from the role in March 2023.
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NewsPub ordered to settle tab over missing pension contributions
On the go: The Pensions Ombudsman has ordered Town Wall Tavern to pay a former employee £1,000 and make up for missing pension contributions.
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NewsTPR warned of ‘levelling down’ in DB funding code consultation
Respondents to the Pensions Regulator’s first consultation on its imminent defined benefit funding code have told the watchdog of their concerns over schemes “levelling down” to meet its fast-track valuation pathway, as well as noting their fears over a loss of flexibility.
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OpinionInclusivity – the forgotten ‘I’ in ED&I for trustees
Broadstone head of policy David Brooks details how inclusion can make a real difference for trustee boards in their diversity journey and help with member engagement.
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NewsSmaller schemes face ‘significant’ costs with TPR DB funding code
While the Pensions Regulator foresees an initial hike in implementation fees followed by reduced costs in the long term, experts have warned that the new defined benefit funding code will be particularly onerous for small schemes.
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NewsRegulator dismisses delaying DB funding code due to LDI crisis
The Pensions Regulator has denied a request from MPs to delay the launch of its defined benefit funding code consultation due to the recent market turmoil, justifying that the document already includes a section about systemic risk.
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NewsTPR rejects claim of having pressured schemes into LDI
The Pensions Regulator has pushed back against a suggestion put to the watchdog by MPs that it pressured some pension schemes towards liability-driven investments, when they did not think LDI was appropriate for them.