All Trustee boards articles – Page 3
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NewsUSS and University of Southampton make AVC blunder
On the go: The Pensions Ombudsman has partially upheld a complaint against the University of Southampton and the Universities Superannuation Scheme trustee after a communication lapse saw a member continue to make annual voluntary contributions after her policy had ended.
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NewsGMP guidance ‘helpful’ but ‘could have gone further’ on conversion
The government’s supplementary guidance on guaranteed minimum pensions equalisation was broadly welcomed by the industry as it could save trustees “time and money”, but some have cautioned that the section on conversion will make little difference without legislation.
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NewsUSS trustee concerned by ‘misleading’ use of financial reports
On the go: The Universities Superannuation Scheme trustee has issued an update on scheme finances, and expressed its concern that previous use of monitoring statements by parties involved in the ongoing 2020 valuation dispute could be “misleading” members about the true state of the scheme.
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NewsCharge cap proposals criticised as govt launches illiquids consultation
The government has said it will “take time to consider” industry concerns around its proposals to exclude performance fees from the charge cap, and has launched a combined consultation into other ways in which to encourage defined contribution schemes to invest in illiquid assets.
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NewsRegulator's notifiable events regime could be delayed
On the go: Industry commentators are asking whether the Pensions Regulator’s new notifiable events regime might be delayed, as the government has yet to respond to last year’s consultation into the expansion of the regulator’s powers.
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NewsPASA covers crossovers, tax and death benefits in GMP guidance
On the go: The Pensions Administration and Standards Association has launched guidance tacking frequently asked questions around guaranteed minimum pension equalisation, including tax implications, death benefits, commutation, and the ‘look-back’ approach for crossover members.
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NewsRegulator’s CDC plans risk strangling the sector at its birth
The Pensions Regulator’s draft code of practice for collective defined contribution schemes is unnecessarily strict and risks severely hampering growth in the sector, industry bodies have warned.
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NewsPlumbing Pensions to use member funds to fight section 75 claims
The Court of Session in Edinburgh has granted Plumbing Pensions permission to use member funds to defend against legal claims from employers over its pursuit of section 75 liabilities.
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NewsTPR not ruling out ‘value for money’ league tables
On the go: The Pensions Regulator is considering league tables as a way of implementing a new value for money framework for pension schemes, though it is not “leaning towards” them at present.
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NewsStrike suspended as schools and unions meet over teachers’ pensions
On the go: Unions have suspended plans for more strike action at 23 private schools to allow talks to take place over planned changes to teachers’ pensions.
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NewsOpperman promises GMP conversion tax fix
On the go: Pensions minister Guy Opperman has clarified some of the provisions in a bill regarding guaranteed minimum pensions conversion, and pledged to work with HM Revenue & Customs on the tax implications.
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NewsHigh Court resolves Merchant Navy ill-health pensions conundrum
The High Court has approved a settlement over ill-health benefits in the Merchant Navy Ratings Pension Fund, which will see members compensated via lump sum arrears and increased pensions to those who had not been treated in accordance with scheme rules.
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NewsPrivate schools offer olive branch over teachers’ pension strikes
The Girl’s Day School Trust has made a new offer to teachers striking over plans to withdraw from the Teachers’ Pension Scheme, but unions have branded the proposal “very disappointing”.
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NewsBuck launches ‘gap analysis’ governance solution
On the go: Buck has launched a new “gap analysis” governance tool designed to help schemes navigate the Pensions Regulator’s forthcoming combined code of practice.
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NewsBuck completes first ‘standalone’ GMP equalisation project
On the go: Buck claims it has completed the industry’s first ‘standalone’ guaranteed minimum pension equalisation project.
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NewsLecturers strike again over USS benefit cuts
On the go: Staff at 44 institutions are to walk out once again over planned benefit cuts to the Universities Superannuation Scheme.
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NewsEmployers and union at loggerheads as USS deadline looms
Employer representatives have again criticised the University and College Union as the deadline for avoiding “unaffordable” contribution rate hikes in the Universities Superannuation Scheme approaches.
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NewsClimate change could impact sponsor cash flow and longevity
On the go: Climate change could have significant impact on sponsor covenant, hitting cash flows and potentially impacting sponsor longevity, according to a report from the Employer Covenant Practitioners Association.
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NewsEx-Norton owner pleads guilty to illegally investing pension funds
The former owner of Norton Motorcycles has pleaded guilty to the charge of illegally investing pension scheme money in his failing company.
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NewsGovt proposes ‘find and view’ dashboards amid public sector delay
The government will be moving forward with the ‘find and view’ functionality on pensions dashboards from launch day, despite industry concerns about the size of the task ahead, while it acknowledged that public sector schemes will only be onboarded in 2024 due to the “considerable work” caused by the McCloud remedy.