All Trustees articles – Page 11
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NewsPeers valued for ESG guidance as data concerns hamper reliability
When it comes to guidance on environmental, social and governance matters, pension professionals prefer to rely on their peers instead of asset managers, consultants and industry bodies, as clear messaging is dependant on transparent data, experts say.
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PodcastsPodcast: Covid-19 could have killed the PLSA
Podcast: The Pensions and Lifetime Savings Association “could have died” from the financial damage wrought by the Covid-19 pandemic, and was only saved thanks to prudent long-term planning. Richard Butcher, managing director of PTL, reflects on his tenure as PLSA chair in an episode covering guaranteed minimum pensions guidance, master trusts and bespoke indices for environmental, social and governance investments.
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NewsAon launches online quiz to explore CDC option
On the go: Aon has launched an online quiz that UK employers and pension scheme trustees can use to explore how a collective defined contribution scheme could meet their future needs.
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NewsDaily Mail pension schemes to benefit from RMS sale
On the go: Daily Mail and General Trust pension schemes could stand to benefit from the £1.4bn sale of insurance risk business RMS to Moody’s that is part of a broader restructuring at DMGT.
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NewsTPR threats enough to secure fair treatment for hybrid scheme
On the go: The Pensions Regulator’s issuance of a warning notice against a scheme sponsor has been sufficient to restore parity between it and other creditors.
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NewsChallenges of green regulation should not be underestimated
On the go: More than a quarter of defined benefit pension schemes are only aiming for minimum compliance with new rules and regulations around climate change, the challenge of which should not be underestimated, LCP has warned.
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NewsPASA updates GMP guidance in light of Lloyds 2020 judgment
The Pensions Administration Standards Association has updated its guaranteed minimum pension equalisation to account for the Lloyds 2020 judgment, setting out the role of transferring schemes and receiving plans in individual transfers.
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NewsDIY strategies are ‘better and cheaper way’ to do ESG investing
Customisation of index strategies and direct ownership of equities is a more efficient and cost-effective way of investing sustainably than using ‘off-the-shelf’ index products, according to SigTech, which offers quant technologies to investors.
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NewsOmbudsman criticises civil service pensions administrator
The Pensions Ombudsman has partially upheld a complaint brought against MyCSP, which administers Civil Service Pensions, for causing “significant distress” in its handling of an overpayment case.
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NewsKPMG fined £13m for ‘dumping’ Silentnight scheme into PPF
On the go: KPMG has received a £13m fine over serious misconduct in its role in the sale of bed manufacturer Silentnight, which lead to the company’s insolvency and its pension scheme having to be absorbed by the Pension Protection Fund.
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NewsMeggitt scheme trustee agrees funding plan in takeover
On the go: The trustee of the Meggitt defined benefit scheme has agreed a funding plan with Parker Hannifin as part of its deal to acquire the British aerospace and defence markets components company.
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NewsDeficit woes deepen as shortfall continues to plague USS
The deficit of the Universities Superannuation Scheme now exceeds £15bn as an increase in assets was outweighed by rising liabilities, in a year the pension fund’s portfolio performed below its benchmark for the first time since 2013.
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NewsIndustry bodies to set dashboards data matching standards
On the go: The Pensions Administration Standards Association will be working with the Pensions and Lifetime Saving Association and the Association of British Insurers to set up the standards for the pension dashboards data matching.
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NewsProfessional trustee board appointments increase 60%
On the go: The number of schemes appointing professional trustees is on the rise, with almost half of pension fund boards now having such arrangements, which compares with one in five schemes five years ago, according to LCP.
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NewsTPR reviews schemes eligible for Fraud Compensation Fund
The Pensions Regulator and the Pension Protection Fund are undertaking a review of schemes that may be eligible for the Fraud Compensation Fund, following uncertainty surrounding instances where no independent trustee has been appointed to a scheme.
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NewsEmployer seeks £265,000 in damages from Plumbing Pensions
A plumbing employer has filed a summons at the Court of Session in Edinburgh seeking more than £265,000 in damages from Plumbing Pensions over its alleged repeated failures to manage the scheme’s Section 75 debt.
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NewsPension funds advised to keep close eye on inflation
Recent spikes in inflation have led consultants to advise schemes against buying overpriced hedges and urging them to stay underhedged over the next three years, while looking elsewhere for inflation-linked returns.
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NewsTrustees of Morrisons’ schemes in talks with Fortress after takeover bid
On the go: The trustees of Morrisons’ defined benefit schemes are in talks with representatives of Fortress Investment Group, which has made an offer to takeover the British retailer.
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NewsPASA launches guidance to help schemes’ e-admin journey
On the go: The Pensions Administration Standards Association has launched new guidance on e-administration, as schemes need to get their data in order to comply with the pensions dashboards deadline in 2023.
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NewsOmbudsman slaps fine on ‘reckless’ trustee for multiple breaches
The Pensions Ombudsman has upheld a complaint against the trustee of a small pension scheme for multiple breaches of trust and instances of malpractice, while demanding they reimburse the scheme to the tune of hundreds of thousands of pounds.