All Trustees articles – Page 12
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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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Ombudsman 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.
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NewsFirst lay trustee receives PMI accreditation
On the go: Neil Calvert, who sits on the Local Government Pension Scheme’s Derbyshire pension board, is the first lay trustee to be accredited by the Pensions Management Institute.
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NewsDB schemes’ ESG policies misaligned with trustees’ intentions
On the go: Only 40 per cent of defined benefit pension scheme trustees believe that their scheme’s environmental, social and governance policy reflects their preferred approach in this area, new research has revealed.
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NewsDB transfer activity increases in June
On the go: Defined benefit transfer activity increased throughout June for the third month in a row, according to research from XPS Pensions Group.
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NewsDWP issues ‘stronger nudge’ to pensions guidance consultation
On the go: The Department for Work and Pensions has opened a consultation into regulations requiring trustees and scheme managers to “nudge” individuals to obtain pensions guidance.
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NewsPASA launches GMP conversion guidance
The Pensions Administration Standards Association has published guidance on guaranteed minimum pension conversion for trustees striving to achieve GMP equality, providing examples of approaches that have been adopted or considered by “early movers”.
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NewsCommonwealth Bank of Australia scheme secures full buy-in
On the go: The Commonwealth Bank of Australia (UK) Staff Benefits Scheme has agreed a circa £420m full buy-in with Legal & General Assurance Society.
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OpinionTop 5 considerations for trustees considering residual risk buyout
As pension trustees look to the future beyond Covid-19, many of them will be refocusing on the journey to buyout. Maria Rodia and Elaine He, of law firm CMS, outline the top five considerations trustees should keep in mind as they think about a residual risk buyout.
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NewsReach Pension Plan joins new climate action group
On the go: The Reach Pension Plan has joined new action group Climate Impact Initiative, which aims to encourage pension providers to make climate-friendly impact investment options available for all savers regardless of plan size.
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NewsTPR kick-starts 8-week climate risk guidance consultation
On the go: The Pensions Regulator announced on Monday the launch of a consultation to help shape guidance for trustees to meet tougher climate change governance standards.
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NewsDB funding levels improve amid favourable markets
On the go: The accounting deficit for the defined benefit pension schemes of the UK’s 350 largest listed companies fell in June, new data from consultancy Mercer show.
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NewsCost and information overload are barriers to integrating ESG
On the go: Information overload and high costs are barriers to integrating sustainability in investments, a Pensions and Lifetime Savings Association poll has found.
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NewsRidgeon Group scheme completes £50m buyout with L&G
On the go: The Ridgeon Group Pension and Life Assurance Scheme has completed a £50m buyout with Legal & General. Buck Consultants advised on the deal.
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Govt issues response to consultation on strengthening TPR’s powers
The UK government has issued its response to the Pensions Regulator’s contribution notices and information-gathering powers regulations consultation.
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Tapping DC schemes for growth fund raises industry concern
Chancellor Rishi Sunak is reportedly hoping to draft defined contribution schemes into propping up the government’s proposed Long-Term Assets Fund, though experts have raised concerns about its practicality.
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PodcastsPodcast: Treasury ‘ignored advice’ in public sector pension reforms
Podcast: A report from the Public Accounts Committee about the public sector pensions reform has showed that Treasury ignored advice that could have prevented the McCloud case, argues Ian Neale, co-founder of Aries Insight. He is joined by Sackers partner Claire Carey, in an episode also covering industry consultation fatigue and the new Task Force on Climate-related Financial Disclosures reporting requirements.
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NewsTPR looks to increase diversity on trustee boards
On the go: The Pensions Regulator is implementing a new diversity and inclusion strategy, which has been developed in discussion with the pensions industry, and is expecting schemes to follow suit.
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NewsESG ramps up in importance for trustee boards
On the go: Environmental, social and governance factors are a hot topic for trustees, with 53 per cent of trustee boards considering it an important agenda topic, new research has shown.