All Trustees articles – Page 21
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Insolvency bill retains potential to damage DB schemes
Government attempts to mitigate the risk its new insolvency legislation poses to defined benefit pension schemes have only been partly successful, and company moratoriums could still see schemes lose out on valuable contributions, experts have said.
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How can schemes make ESG compliance meaningful?
Analysis: The UK pension industry’s first attempt at compliance with new sustainability reporting rules has left campaigners unimpressed, to say the very least.
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Seven-year scam poses ‘serious questions’ for TPR
The Pensions Ombudsman has finally brought to a close a seven-year case that left members of three pension schemes looking to recoup losses in excess of £14m. However, questions have been raised about the effectiveness of the Pensions Regulator in this case.
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Cash-strapped money printer cuts deficit repair contributions
British banknote printer De La Rue has cut deficit repair payments to its defined benefit pension scheme, contingent on the success of its bid to raise an extra £100m in capital.
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Regulator appoints 91 trustees during first quarter
On the go: The Pensions Regulator has appointed 91 trustees to ensure the proper administration of pension schemes between January and March, according to new data.
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Trustees advised to focus on going concern in schemes’ accounts
On the go: Consideration of going concern in the preparation of pension scheme financial statements requires greater focus from trustees due to the coronavirus crisis, accountancy bodies have warned.
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Poor Q1 returns catch up on risky fiduciary managers
Fiduciary managers with heavily equity-based portfolios suffered the heaviest losses in the first quarter of 2020, as the wide variation in strategies continues to provoke discussion about the right level of growth portfolio diversification.
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First 14 professional trustees become fully accredited
On the go: Some 14 professional trustees have become fully accredited under the Association of Professional Pension Trustees framework.
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Old British Steel scheme trustees consider buyout
On the go: The trustees of the Old British Steel Pension Scheme are considering a buyout for its 31,000 members, due to a better-than-expected funding position achieved while in the assessment period at the Pension Protection Fund.
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PodcastsPodcast: The days of ‘amateurish’ trusteeship are over
Podcast: The challenges posed by Covid-19 will accelerate the move toward professional trusteeship, according to Mercer’s chief actuary Charles Cowling, who argues that the responsibilities in this area post-coronavirus will be too much for lay trustees to handle alone. He and Catherine McFadyen, head of public sector actuarial, benefits and governance at Hymans Robertson, discuss LGPS funding, the impact of mortality rates, and give their predictions about the post-crisis world.
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NewsBritish Airways resumes pension transfer activities
British Airways is to resume its pension transfer activities following a short suspension due to the impact of the coronavirus crisis, Pensions Expert can reveal.
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Regulator warns trustees to prioritise pension switches
On the go: The Pensions Regulator has urged trustees to prioritise pension switches and ensure they are completed in good time, in an attempt to ensure savers do not miss out during the Covid-19 pandemic.
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PodcastsPodcast: McClymont - UK still has far too many master trusts
Podcast: The UK master trust market is still lacking the scale needed to provide the best outcomes for members, argues Gregg McClymont, director of policy at The People’s Pension. He and Pat Sharman, managing director at Caceis, discuss concerns from the Pensions Regulator regarding the investment strategies pursued by some of the UK’s authorised master trusts, among other topics.
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ITV scheme trustees approve deficit repayment holiday
On the go: The trustees of ITV’s defined benefit schemes have agreed to a deficit repayment contribution delay, amid action from the broadcaster to mitigate the impact of Covid-19.
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Counsell: Industry must ‘step up and protect savers’
On the go: Pension providers and trustees “must step up and protect savers using every possible means”, as the vulnerability of individuals to scams has increased due to the coronavirus pandemic, the Pensions Regulator chief executive has warned.
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TPR eases reporting and enforcement rules
On the go: The Pensions Regulator has relaxed its enforcement rules and reporting guidelines for trustees amid the coronavirus crisis.
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TPR urges trustees to work flexibly with administrators
On the go: The Pensions Regulator has updated its Covid-19 guidance for trustees, highlighting that the pandemic “is placing huge pressures on the administration of pension schemes”.
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Covid-19: Disruption for DC schemes; social impact woes
While defined contribution trustees are being warned they could be facing more disruption than just investment volatility, institutional investors are calling on companies to mitigate the coronavirus social impact. At the same time, risks of cybersecurity and fraud are on the rise. Read our round-up of pensions and finance news about the coronavirus outbreak.
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New guidance for joint GMP rectification and equalisation
On the go: Pension schemes considering combining their guaranteed minimum pension rectification and equalisation projects can now follow new guidance published by the cross-industry GMP Equalisation Working Group.
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TPR alerts trustees for contingency planning amid Covid-19 fears
On the go: The Pensions Regulator has reminded trustees of the need for appropriate monitoring and contingency planning to be able to continue to run their schemes amid a coronavirus outbreak.