All The Pensions Regulator (TPR) articles – Page 65
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News
Hedged Aviva schemes survive rate cut
Pension schemes sponsored by insurance giant Aviva have reported a marked increase in their accounting surplus owing principally to falling interest rates, but experts warn of further pain for schemes which are not hedged against interest rate risk.
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News
New DC code of practice: Greater clarity, but niggles remain
The Pensions Regulator this week published its new defined contribution code of practice, clarifying its position on a number of issues, but experts still had questions about its criteria for assessing value for scheme members.
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OpinionAre the regulators fit for purpose?
Pensions legislation has become increasingly complex since the 1990s, so does this mean pensions regulation needs to be revisited? Walker Morris’s Ruth Bamforth tackles the thorny question.
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NewsSelect committees: Philip Green has ‘moral duty’ to help fix BHS pension deficit
A joint report published by the Work and Pensions Committee and the Business, Innovation and Skills Committee found negligence caused BHS’s pensions deficit, and opened the possibility of increasing the Pensions Regulator’s powers.
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News
Uptick in scams prompts call for tighter regulation
A recent increase in reports of suspected pension scams has been called “the tip of the iceberg”, as experts said tighter legislation would help schemes ensure their members do not lose hard-earned retirement savings.
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OpinionWaiting for the sunshine: The challenges facing DB
The Pensions and Lifetime Savings Association’s Graham Vidler sets out the difficulty facing defined benefit schemes following Brexit, and explains how the PLSA will work to help the industry weather the turbulence that has followed the vote.
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News
Regulator’s annual statement omits Brexit implications
The Pension Regulator’s 2015-2016 annual statement has pinpointed the main changes and risks the UK pension industry faces, but has not taken into account recent economic turmoil and its effect on the pensions landscape, industry experts have said.
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News
DB taskforce encourages credit innovation to tackle deficits
Finding solutions to the defined benefit funding crisis will require the pensions industry to “challenge conventional thinking”, the chair of the Pensions and Lifetime Savings Association’s new DB taskforce has said.
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FeaturesFinal date set for Box Clever trustee and ITV showdown
Trustees of the Box Clever Pension Scheme and ITV were back in court last week, in the latest round of a four-year legal battle to force the broadcasting giant to help make good the fund’s £90m deficit.
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OpinionWhat to consider before moving members to a new scheme
Eversheds’ Julia Chirnside asks what it would mean if a recent legal case involving the Halcrow Pension Scheme and its overseas sponsor had resulted in a different outcome.
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Opinion
Proposed trusteeship diploma gets mixed response
The Pensions Management Institute and the Association of Professional Pension Trustees have announced the launch of a joint consultation to introduce a Diploma in Pension Trusteeship to improve trustee education and standards of scheme governance.
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News
Finalised IORP II may not make it to UK after Brexit vote
A provisional final text of the EU’s revised Institutions for Occupational Retirement Provision directive was published last week, as the UK’s presumed exit from the bloc cast doubt over its implementation.
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OpinionRaising standards of trusteeship
As we continue to develop our support for the 21 century trustee, it is clear many are doing a great job in challenging circumstances. These trustees are setting enviable standards of best practice.
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News
Experts eye hedging and CPI as UK DB deficit up £170bn in weeks
UK defined benefit pension deficits grew by £170bn over seven weeks in the run-up to the EU referendum, jumping to £900bn as market volatility following the result put further strain on funding positions.
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News
GPP provider list will raise standards, trustees say
The Pensions Regulator has added the first group personal pension provider to its list of recommended GPPs open to all employers. It expects more providers to apply for inclusion, and said GPP demand will increase ahead of auto-enrolment compliance deadlines.
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NewsUnilever launches guidance tool, but fear of giving advice still stops many
The Unilever Pension Fund has introduced an online initiative using example members to help savers plan their benefits, ahead of a clarification on the distinction between advice and guidance from the Financial Conduct Authority, HM Treasury and the Pensions Regulator.
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Opinion
How can trustees stand their ground in sponsor discussions?
Negotiating with sponsors can be a daunting task for trustee boards, especially when the employer can use its structural advantage to increase its leverage. Lincoln Pensions’ Darren Redmayne explains what schemes can do.
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NewsStaveley agrees £73.6m recovery plan
The Staveley Pension Scheme has agreed a new, £73.6m recovery plan with its sponsoring employer after its most recent actuarial valuation found a £100m deficit.
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OpinionHow to prepare for a 2016 valuation
Market conditions have changed since 2013, as lower gilt yields threaten schemes with valuations coming up. Trustees should engage with their employer as soon as possible to smooth the process, says Spence & Partner’s Helen Toner.
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News
Hidden charges weigh pension pots down
Pensions are being hit by more than 100 costs and charges, many of them hidden, which are potentially taking as much as a third off the gains of a pension over its lifetime, a study by the Transparency Task Force has found.