All Trustees articles – Page 15
-
NewsDWP admits DC chair’s statements fail policy objective
The Department for Work and Pensions has acknowledged that the introduction of chair’s statements has failed to meet the policy objectives set out by the department in 2014.
-
OpinionProtecting pensions against pandemic-enhanced cyber criminals
Premier Pensions head of administration Girish Menezes details how the pandemic has made pension fund data vulnerable to cyber attacks, and explains what schemes and administrators can do to better protect their members’ information.
-
NewsJust 19 per cent say TPR criminal powers policy is 'adequately clear'
A mere 19 per cent of people said the Pensions Regulator’s draft policy on the use of its new criminal powers is “adequately clear”, while 65 per cent said they feared it could prompt companies to ditch their pension arrangements, leaving the regulator with much to do to win back industry trust.
-
NewsAPPT urges auditors to formalise data requests
On the go: The Association of Professional Pension Trustees has written to the Institute of Chartered Accountants in England and Wales to express membership concerns about the amount of time and resource required to respond to enquiries about pension schemes from the auditors of scheme sponsors.
-
NewsTraditional trustee board model unfit for ‘purpose’
On the go: The traditional trustee board model has been branded “unfit for purpose”, as recent events have shown the importance of reacting quickly to changing circumstances.
-
NewsIndustry calls again for clarity as TPR criminal consultation closes
The pensions industry has once again united in its calls for clarity as a consultation into the scope and application of the Pensions Regulator’s new criminal powers comes to a close.
-
NewsTreasury committee calls for ESG regulations for smaller schemes
On the go: The Treasury committee published on Thursday a unanimously agreed report as part of its decarbonisation and green finance inquiry, which calls for environmental, social and governance regulations for smaller schemes.
-
News
Schemes to spend £1.5bn on GMP equalisation past transfer top-ups
New research from Buck suggests the bill for equalising guaranteed minimum pension benefits in past defined benefit scheme transfers continues to grow, with at least £1.5bn needed for schemes to top up these historic transactions.
-
OpinionSchemes to pay more attention to social factors in ESG strategies
As the UK government turns its attention to the social factors in schemes’ environmental, social and governance investment strategies, Big Society Capital interim chief executive Stephen Muers explains how pension funds can address this issue while maintaining fiduciary duty to their members.
-
NewsPandemic could have modest impact on mortality rates
On the go: If Covid-19 is confined to the two waves already registered, and the vaccination rollout programme is successful, the pandemic’s effect on mortality rates is likely to be marginal, new research from LCP has revealed.
-
NewsCloud-based data recovery service wins industry praise
A new cloud-based service promising independent data backup facilities for pension schemes has won praise from industry experts, who hailed it as an “innovative solution” to the rare but worrisome prospect of administrator failure.
-
NewsOmbudsman sides with Pilots’ trustee on accrual rate changes
The Pensions Ombudsman has sided with the trustee of the Pilots’ National Pension Fund in its move to change the scheme’s benefits accrual rate, noting that the decision was reached “following a reasonable decision-making process”.
-
PodcastsPodcast: Treasury admin fund could help tackle McCloud
Podcast: The Treasury should create a fund to help schemes cope with the administrative load of the McCloud remedy. So says Ray Martin, director at HS Sole Trustees, who is joined by Pensions Administration and Standards Association chair Kim Gubler to discuss TPR’s new climate change agenda, the NAO’s warning about the burdensome McCloud judgment, and a bizarre proposal for a national pension fund.
-
News
Dashboards milestone reached as PDP looks for architecture supplier
On the go: The Pensions Dashboards Programme has issued an invitation to tender for a supplier to provide digital architecture.
-
NewsAon criticises USS valuation assumptions as ‘overly prudent’
Aon has criticised the methodology and assumptions underlying the Universities Superannuation Scheme trustee’s response to the USS valuation, accusing it of being overly prudent and failing to properly justify several of its assumptions.
-
NewsBridging pension option smooths Rolls-Royce scheme restructure
The introduction of a bridging pension option in the Rolls-Royce UK Pension Fund has helped smooth the transition for its members following a scheme restructure announced in May 2020.
-
News
BT, Ford and M&S schemes seek judicial review on RPI changes
On the go: The trustees of BT, Ford and Marks and Spencer pension schemes announced on Friday that they are seeking a judicial review of the decision to replace the retail price index with the consumer price index including housing costs from 2030.
-
NewsUUK consults on way out of USS valuation wrangle
Universities UK, the employer group representing 340 Universities Superannuation Scheme employers, has opened a consultation on a range of measures intended to settle the long-running feud over the 2020 USS valuation.
-
News
Over half of DB-listed sponsors at risk claimed pandemic support
More than half of defined benefit-listed sponsors that are currently at high risk of insolvency made a claim for government support in December, and could face uncertainty when this lifeline comes to an end, according to analysis from EY.
-
News
Guidance brings ‘welcome clarity’ for trustees over financial advice
On the go: New guidance from the Financial Conduct Authority and the Pensions Regulator has clarified what constitutes unregulated financial advice, allowing schemes to offer cash equivalent transfer value quotations and annuity estimates, but banning drawdown illustrations.