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      Webinar: Using passion for ESG to unleash member engagement

      This webinar will look at how pension schemes can harness their members’ interest in ESG to engage them more broadly with their pensions. In particular, it will look at exclusive research showing how members are reacting to ESG; their propensity to act versus their actual behaviour; and the expectations they have of providers in this regard.

      • Date: 26 Jan 2021
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      This two part Investment Conference will bring you the latest updates from economists, asset managers and pension consultants. We will be taking a look at the outlook for the 2021 economy, alternatives, cashflow strategies and global equity markets to name a few, assessing how they fared through the volatility and what we can expect for the year ahead.

      • Date: 27 Jan 2021
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      Webinar: What to put on your GMP Equalisation project roadmap for 2021

      This webinar will bring together views from actuaries, lawyers, administrators, trustees and data experts to look at the pragmatic, collaborative solutions that are open to schemes to solve the GMP equalisation challenges in 2021. It will assess the individual challenges schemes face with equalisations and provide some practical options that are available to resolve these issues.

      • Date: 02 Feb 2021
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      Webinar: Will the world return to normal in 2021?

      In this webinar, PP editor Jonathan Stapleton will be joined by BMO’s chief economist Steven Bell and director of fiduciary management, Christy Jesudasan, alongside PTL trustee director Melanie Cusack and Isio’s head of fiduciary management oversight Paula Champion to discuss the significant impact of these themes on the pensions sector.

      • Date: 04 Feb 2021
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    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

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      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

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Victoria Tichá

Victoria is a correspondent for Professional Pensions where she reports on issues affecting the industry.

She joined the team in January 2018, after completing her Master's in Journalism and Communications from the University of New South Wales in Sydney, Australia.

Victoria also holds a Bachelor's in International Relations and Affairs, gained in 2014. 

She has a particular interest in digital innovation, investigative journalism, and media ethics.

 

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Articles by Victoria Tichá

HSBC pension scheme to invest £250m in wind and solar
HSBC pension scheme to invest £250m in wind and solar

The HSBC Bank UK Pension Scheme is to invest £250m in renewable energy infrastructure, such as solar plants and wind farms, with Greencoat Capital.

  • Investment
  • 17 October 2018
Pension freedoms could rake in £19.2bn of tax over next decade
Pension freedoms could rake in £19.2bn of tax over next decade

Pension freedoms could generate as much as £1.9bn a year in tax revenue for the next 10 years, according to research by the Pensions Policy Institute (PPI).

  • Defined Contribution
  • 16 October 2018
Teachers' union members vote to strike over pension changes
Teachers' union members vote to strike over pension changes

GMB members working for the National Association of Schoolmasters Union of Women Teachers (NASUWT) have voted for strike action over proposed changes to their defined benefit (DB) pension scheme.

  • Defined Benefit
  • 15 October 2018
BlackRock wins £30bn Scottish Widows mandate
BlackRock wins £30bn Scottish Widows mandate

BlackRock has won over a quarter of a £109bn Scottish Widows mandate following a competitive tender process, as the battle for the remaining £79bn in assets continues.

  • Industry
  • 12 October 2018
Government should not require schemes to offer partial transfers - PP research
Government should not require schemes to offer partial transfers - PP research

In this week's Pensions Buzz, respondents warned schemes being required to offer partial transfers could lead to too many administrative burdens

  • Law and Regulation
  • 12 October 2018
Five stories you may have missed this week
Five stories you may have missed this week

This week's top stories include Smart Pension and Legal & General revealing a prototype demo of their workplace retirement income product, combining drawdown and annuities.

  • Industry
  • 12 October 2018
One in eight FTSE 100 DB schemes 'still in worry zone'
One in eight FTSE 100 DB schemes 'still in worry zone'

The aggregate risk across defined benefit (DB) schemes in the FTSE 100 has fallen by almost a quarter since 2017 but 12.5% are still at risk of failure, research suggests.

  • Risk Reduction
  • 10 October 2018
SPPA asks Scottish government for £18.4m after Capita IT project cancelled
SPPA asks Scottish government for £18.4m after Capita IT project cancelled

The Scottish Public Pensions Agency (SPPA) has requested £18.4m from the Scottish government over the next five years in order to deliver a replacement IT project after a Capita project was cancelled.

  • Admin / Technology
  • 09 October 2018
PPF 7800 index hits highest funding level since 2011
PPF 7800 index hits highest funding level since 2011

The combined defined benefit (DB) funding level increased to 97.7% at the end of September, according to the Pension Protection Fund's (PPF) latest update.

  • Defined Benefit
  • 09 October 2018
Mercer and Morningstar form alliance to deliver investment data
Mercer and Morningstar form alliance to deliver investment data

Mercer and Morningstar have teamed up to develop a global platform for investment data, research and analytics.

  • Investment
  • 02 October 2018
What to expect from the High Court decision on Lloyds' GMP equalisation
What to expect from the High Court decision on Lloyds' GMP equalisation

With the High Court's judgment expected imminently, Victoria Ticha examines the possible outcomes and what it could mean for schemes

  • Law and Regulation
  • 01 October 2018
FTSE 100 pension schemes see small funding improvement
FTSE 100 pension schemes see small funding improvement

Defined benefit (DB) schemes sponsored by the UK's 100 largest listed companies saw their combined funding level improve by 10 basis points during September, according to JLT Employee Benefits.

  • Investment
  • 01 October 2018
Industry split over combination of pensions with other savings products
Industry split over combination of pensions with other savings products

Respondents disagree whether mixing of products would be beneficial for savers

  • Defined Contribution
  • 28 September 2018
Rothesay Life to acquire £860m equity release portfolio as PRA seeks higher security for asset
Rothesay Life to acquire £860m equity release portfolio as PRA seeks higher security for asset

Rothesay Life has purchased an £860m portfolio of equity release loans as the Prudential Regulation Authority (PRA) is due to end its consultation on insurers' use of the asset to back business.

  • Risk Reduction
  • 27 September 2018
AA UK Pension Scheme completes £351m buy-in with Canada Life
AA UK Pension Scheme completes £351m buy-in with Canada Life

Canada Life has signed a £351m bulk annuity contract insuring the pensioner liabilities of 2,510 members and dependents in the AA UK Pension Scheme.

  • Risk Reduction
  • 26 September 2018
Four trustee directors banned after mismanaging members' pension funds
Four trustee directors banned after mismanaging members' pension funds

The Insolvency Service has disqualified four directors of trustee firms from running companies for a total of 34 years following an investigation.

  • Law and Regulation
  • 26 September 2018
Life expectancy improvements grind to a halt; Number of people aged over 90 hits record high
Life expectancy improvements grind to a halt; Number of people aged over 90 hits record high

Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.

  • Risk Reduction
  • 25 September 2018
Third of over-55s spend more time choosing a car than preparing for retirement
Third of over-55s spend more time choosing a car than preparing for retirement

More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, finds Legal & General (L&G) research.

  • Defined Contribution
  • 24 September 2018
Dominic Chappell loses appeal against BHS conviction
Dominic Chappell loses appeal against BHS conviction

Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).

  • Law and Regulation
  • 21 September 2018
DB deficit could be halved by adopting new 'end-game' solutions
DB deficit could be halved by adopting new 'end-game' solutions

The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how

  • Risk Reduction
  • 20 September 2018
Field questions TPR over lessons learnt from Kodak Pension Plan
Field questions TPR over lessons learnt from Kodak Pension Plan

Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).

  • Law and Regulation
  • 20 September 2018
Kodak Pension Plan 'likely to move into the PPF', say trustees
Kodak Pension Plan 'likely to move into the PPF', say trustees

The trustees of the Kodak Pension Plan No.2 (KPP2) have said it will likely enter the Pension Protection Fund (PPF) in "due course" after reviewing the scheme's investment in Kodak Alaris.

  • Defined Benefit
  • 18 September 2018
L&G completes £285m buy-in with Fortune 500 company
L&G completes £285m buy-in with Fortune 500 company

A US company has completed a £285m pensioner bulk annuity for around 1,100 of UK members with Legal & General (L&G).

  • Risk Reduction
  • 18 September 2018
Greene King completes £50m buy-in with Scottish Widows
Greene King completes £50m buy-in with Scottish Widows

Pub retailer and brewer Greene King has signed a £50m bulk annuity contract with Scottish Widows for the Spirit Pension Scheme.

  • Risk Reduction
  • 17 September 2018
One in five vote against remuneration report at XPS AGM
One in five vote against remuneration report at XPS AGM

XPS Pensions Group saw over 20% of its shareholders revolt when voting on its remuneration report at its annual general meeting (AGM) this week.

  • Industry
  • 14 September 2018
NEST appoints CFO to trustee board as it continues move to unitary structure
NEST appoints CFO to trustee board as it continues move to unitary structure

NEST has appointed its chief financial officer (CFO) Richard Lockwood as a member of its reshaped trustee board which unites executives and non-executives.

  • Appointments
  • 14 September 2018
Hammond open to RPI reform but up to 'ONS to initiate'
Hammond open to RPI reform but up to 'ONS to initiate'

Chancellor Philip Hammond has said he would be happy to hear about reforming the retail prices index (RPI) as long as the Office of National Statistics (ONS) initiates discussions.

  • Law and Regulation
  • 12 September 2018
Transparency failings blamed on 'operationally inefficient' industry
Transparency failings blamed on 'operationally inefficient' industry

The WPC's cost and transparency inquiry reveals it is impossible to know exactly how much consumers and trustees are paying in charges. Victoria Ticha takes a closer look

  • Law and Regulation
  • 10 September 2018
PIC racks up £4.5bn of bulk annuity business in 'best ever' year so far
PIC racks up £4.5bn of bulk annuity business in 'best ever' year so far

Sales in Pension Insurance Corporation's (PIC) bulk annuity business rose by 73% compared to the same period last year, its half-year results have revealed.

  • Risk Reduction
  • 10 September 2018
One in five FTSE 350 companies do not disclose funding deficit or surplus position
One in five FTSE 350 companies do not disclose funding deficit or surplus position

FTSE 350 companies are failing to disclose to stakeholders a range of important data about their defined benefit (DB) obligations, a Lincoln Pensions study finds.

  • Law and Regulation
  • 10 September 2018
DB deficit falls again in August
DB deficit falls again in August

All UK private sector defined benefit (DB) schemes saw a £10bn improvement in funding on a gilts plus basis last month, according to PwC's Skyval index.

  • Defined Benefit
  • 07 September 2018
Smart Pension appoints former Virgin CEO as board chairman
Smart Pension appoints former Virgin CEO as board chairman

Smart Pension has appointed former Virgin Group chief executive Stephen Murphy to take over from Sir Anthony Jolliffe as chairman of its board.

  • Appointments
  • 07 September 2018
UK moves up one place in global retirement ranking
UK moves up one place in global retirement ranking

The UK has moved up one place in this year's Natixis Global Retirement Index (GRI) - seeing improvements in health and wellbeing dragged down by performance of retirement prospects in general.

  • Industry
  • 06 September 2018
Field: Lack of fee transparency leaves pension savers 'deeply depressed'
Field: Lack of fee transparency leaves pension savers 'deeply depressed'

Asset managers' failure to provide clear transaction costs incurred in pension funds leaves savers "deeply depressed", Frank Field says.

  • Law and Regulation
  • 05 September 2018
PensionBee teams up with money app to create personal finance dashboard
PensionBee teams up with money app to create personal finance dashboard

PensionBee has joined forces with money app Yolt to enable its customers to access their live pension balance along with other personal finances for the first time.

  • Admin / Technology
  • 04 September 2018
More than half not saving into a pension blame low income
More than half not saving into a pension blame low income

Lack of adequate income is increasingly to blame for why people do not choose to save towards retirement, according to research by Equiniti.

  • Defined Contribution
  • 04 September 2018
FTSE 100 pension schemes slip back into deficit
FTSE 100 pension schemes slip back into deficit

The UK's 100 largest listed companies saw their combined defined benefit (DB) funding level fall by 80 basis points during August, according to JLT Employee Benefits.

  • Defined Benefit
  • 03 September 2018
B&CE appoints two directors to board
B&CE appoints two directors to board

B&CE has announced it has appointed Jim Islam and Jim McKinnon to its board of directors.

  • Appointments
  • 10 August 2018
Why are smaller schemes still paying higher administration fees?
Why are smaller schemes still paying higher administration fees?

Access to automation could explain why there is still a large gap in fees for large and small schemes, according to KGC Associates' ninth administration survey. Victoria Ticha looks at the findings

  • Admin / Technology
  • 10 August 2018
L&G transacts £507m bulk annuities in quieter H1 but expects 'exceptionally busy' H2
L&G transacts £507m bulk annuities in quieter H1 but expects 'exceptionally busy' H2

Legal & General (L&G) has announced bulk annuity sales in the first half were £1bn lower than last year, but it expects another £7bn of deals in the second half.

  • Risk Reduction
  • 09 August 2018
Aviva completes £1bn longevity reinsurance deal with Prudential
Aviva completes £1bn longevity reinsurance deal with Prudential

The Prudential Insurance Company of America (PICA) has agreed to assume approximately £1bn of pension liabilities from Aviva's bulk annuity business.

  • Risk Reduction
  • 08 August 2018
DB transfer members risk running out of money seven years earlier
DB transfer members risk running out of money seven years earlier

An individual transferring a £230,000 defined benefit (DB) pension could lose up to seven years of retirement income if they draw a fixed sum of £10,000 a year, according to XPS Pensions Group research.

  • Defined Benefit
  • 07 August 2018
TPO finds Northumbria Police Authority guilty of maladministration; Gives 'new hope' to scam victims
TPO finds Northumbria Police Authority guilty of maladministration; Gives 'new hope' to scam victims

A ruling by The Pensions Ombudsman (TPO) could mean past victims get redress if it finds trustees failed to alert members to pension transfer risks or did not perform mandatory checks.

  • Law and Regulation
  • 06 August 2018
TPR appoints five to Determinations Panel ahead of authorisation regime
TPR appoints five to Determinations Panel ahead of authorisation regime

The Pension Regulator's (TPR) Determinations Panel has appointed five members as it prepares to rule on master trust authorisation applications

  • Appointments
  • 03 August 2018
Phoenix Group appoints Nicholas Lyons as chairman
Phoenix Group appoints Nicholas Lyons as chairman

Nicholas Lyons is to take over from Henry Staunton as chairman of Phoenix Group.

  • Appointments
  • 03 August 2018
Hymans Robertson appoints new investment consultancy head
Hymans Robertson appoints new investment consultancy head

Anthony Ellis has taken over from John Walbaum to head Hymans Robertson's investment consultancy practice.

  • Appointments
  • 02 August 2018
FTSE 100 schemes increase bond allocation to de-risk
FTSE 100 schemes increase bond allocation to de-risk

Two-thirds of FTSE 100 DB schemes invest more than 50% of assets in bonds to tackle investment mismatching, according to JLT research. Victoria Ticha takes a closer look

  • Defined Benefit
  • 01 August 2018
Scottish Widows transacts £1bn of bulk annuities in H1
Scottish Widows transacts £1bn of bulk annuities in H1

Four bulk annuity transactions worth over £1bn were transacted by Scottish Widows in the first half of the year, according to its half yearly report.

  • Risk Reduction
  • 01 August 2018
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