All Trustees articles – Page 5
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NewsClara-Pensions plans Q3 deal after regulatory approval
Clara-Pensions is planning to announce its first transaction in the third quarter of this year, as founder and outgoing chief executive Adam Saron details the types of pension schemes that are likely to find value in the defined benefit consolidator’s business model.
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OpinionTPR: The Green Cross Code man
Broadstone’s technical director David Brooks details how trustees must help scheme members to avoid bad transfer decisions as the regulator takes a ‘Green Cross Code’ approach.
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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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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 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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PodcastsPodcast: Natural capital can improve scheme returns but concerns remain
Podcast: Natural capital can improve scheme returns but trustees should not forget to consider their fiduciary duties of being able to pay pensions in the future and have a defensive investment strategy, argue Alina Donets, portfolio manager at Lombard Odier Investment Managers, and Stuart O’Brien, partner at Sackers.
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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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OpinionSchemes need to pay attention to members’ sustainable demands
Scheme trustees may be conflicted between sustainability and fiduciary duty, but the public are not – they want sustainability to be front and centre, argues Carol McNaughton Nicholls, associate partner at BritainThinks.
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NewsTPR’s web-based scheme return questions cause industry mayhem
Actuaries, trustees and consultants are disappointed with a new method introduced by the Pensions Regulator for scheme returns, pointing out that a web-based form with additional questions implemented this year has increased the risk of providing wrong information.
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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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NewsTPR publishes guidance for trustees on Pension Wise appointments
On the go: The Pensions Regulator has published new guidance for trustees who will be required to offer Pension Wise appointments for savers who want to access their defined contribution 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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NewsPLSA calls on companies to improve ESG disclosures
On the go: The Pensions and Lifetime Savings Association is calling on companies to improve their disclosures on climate change, executive remuneration and diversity, as it updates its Stewardship and Voting Guidelines.
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NewsTPR publishes example to help trustees with new ESG duties
On the go: The Pensions Regulator has published an illustrative example to help trustees and advisers comply with their environmental, social and governance duties, as it revealed it will start contacting schemes that are now in the scope of the new regulations.