Holly Roach
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Articles by Holly Roach
Think tanks call for permanent pensions commission
Think tanks The Fabian Society and Bright Blue have called for a new pensions commission, as Guy Opperman lends his support.
Government urged to set timetable for AE reform implementation
The Association of Consulting Actuaries (ACA) has urged the government to set out a timetable for when it will implement its planned automatic enrolment (AE) reforms, and produce a timetable for increases in AE contribution levels.
Pension funds increasingly focused on long income property
Pensions funds’ focus on long income property is increasing, with 84% of investors agreeing the level of investment in this area will rise over the next two years, according to research by Alpha Real Capital.
Industry mostly dissatisfied with current direction of pensions policy
More than half (55%) of the pensions industry is dissatisfied with the direction of pensions policy going into 2020, according to research from the Pensions Management Institute (PMI).
PASA warns against poor quality data risk to automation
The Pensions Administration Standards Association (PASA) has published a research report and white paper urging the industry to work together to stop automation being derailed by poor quality data.
Mineworkers' and British Coal schemes win rare US securities class action case
The Mineworkers’ Pension Scheme and the British Coal Staff Superannuation Scheme have been successful as lead plaintiffs in a US securities fraud case, securing a $350m (£270m) settlement.
Former accountant fined for misleading TPR over workplace pension duties
The Pensions Regulator (TPR) has fined a former accountant £4,987 after he failed to enrol staff into a workplace pension scheme.
PPF reaches 1,000 scheme milestone as the Carillion Rail Pension Scheme transfers
The Pension Protection Fund (PPF) has secured the benefits of 4,000 members of the Carillion Rail Pension Scheme after it became the 1,000th scheme to transfer to the lifeboat fund.
Government must prioritise combatting pension scams, says industry
The industry is urging the government to prioritise combatting pension scams in 2020, according to research by the Society of Pension Professionals (SPP).
Data quality and trustee training not priorities for industry
Industry experts do not agree member engagement and data quality are priorities, according to research by networking site Mallowstreet.
Majority of industry have made no ESG changes to portfolios
More than half (57%) of the Society of Pension Professionals’ (SPP) membership has not made any changes to portfolios in terms of environmental, social and governance (ESG) issues, despite there being a “genuine interest”, research has revealed.
Simpler annual benefit statement proposals get positive response from industry
As the DWP’s consultation on simpler annual benefit statements closes, Holly Roach looks at the industry’s response.
Further master trust consolidation to come in 2020, predicts industry
There will be further master trust consolidation in 2020, according to two-thirds of 109 Pensions Buzz respondents.
Government's boycott ban may extend to LGPS
The government’s ban on boycotts by public institutions may extend to the Local Government Pension Schemes (LGPS).
Levy-payers warned not to delay review of PPF insolvency risk changes
Pension Protection Fund (PPF) levy-payers may be leaving themselves open to “unwelcome surprises” by failing to check their accounts early on, Barnett Waddingham has warned.
PPF introduces updated insolvency risk services
The Pension Protection Fund (PPF), in partnership with Dun & Bradstreet (D&B), has published its plans for updated insolvency risk services and is consulting on its approach to insolvency risk measurement from 2021.
TPR publishes research on leverage and liquidity
The Pensions Regulator (TPR) has published research on leverage and liquidity to better gauge the potential risks for defined benefit (DB) pensions and inform the Bank of England’s Financial Stability Report.
PPF levy rules 'broadly unchanged' with estimated £45m increase
The Pension Protection Fund (PPF) has confirmed its 2020/2021 levy rules and revealed they remain stable and broadly unchained from the previous levy year, expecting an 8% rise in collection.
Aon paper guides trustees to opportunities for public equity impact
Aon has published a paper offering pension scheme trustees insight into investment areas if they are looking for competitive financial returns and to deliver a positive social and environmental impact.
Pensions have become the 'largest component' of household wealth
Pensions have overtaken household property wealth to become the largest component of household wealth, according to analysis from the Resolution Foundation.
Barnett Waddingham posts double-digit growth
Barnett Waddingham’s full year results reveal significant growth at the business, with revenue reaching almost £100m. Holly Roach reports
Private pension wealth grows by £2.5trn over ten years
Private pension wealth has grown to £6.1trn in the last decade up from £3.6trn, Office for National Statistics (ONS) data shows.
TPR enforcement increases by more than 25% but debt recovery rate remains low
The Pensions Regulator’s (TPR) enforcement actions increased by more than a quarter over the last year but the recovery rate against all recoverable debt sat at just 30%, according to law firm Clyde & Co.
Master trusts liable for quarter of general levy costs despite holding only 2% of funds
Ten master trusts will pay at least 25% of the total general levy despite holding just 2% of assets, according to The People’s Pension (TPP).
General levy increase gets broadly negative response from industry
The Department for Work and Pensions’ consultation on increasing the general levy has closed. Holly Roach looks at the industry’s response to its proposals
Further delay to professional trustee accreditation framework
The professional trustee accreditation process, set up by the Professional Trustee Standards Working Group (PTSWG), has been delayed again and is now expected to launch “in the new year”.
Penfold secures £2m to fund digital pension scheme for the self-employed
Penfold has launched a digital pension scheme aimed at the self-employed following a successful £2m funding round.
XPS posts 8% revenue growth driven by admin and investment consulting business
XPS Pensions has published interim results for the half year ending 30 September, posting total revenue of £56.3m and pre-tax profits of £4.4m.
How the Public Sector Social Impact Fund will assist schemes with secure investments
Seven local authorities have already committed to investing in a fund designed to help pension funds source social investments. Holly Roach reports
PASA publishes master trust transition guidance
The Pensions Administration Standards Association (PASA) has published its first batch of guidance on defined contribution (DC) master trust transition, as further consolidation is expected.
Pension schemes bill should be reintroduced in existing form, say respondents
Most of this week's 108 Pensions Buzz respondents agreed the pension schemes bill should be reintroduced in its exisiting form.
'No excuse' for industry slipping from GMP equalisation timescale targets
The lack of clarity from HM Revenue and Customs (HMRC) on guaranteed minimum pension (GMP) equalisation is “no excuse” for stalling implementation, says Aon.
DWP annual benefit statement consultation questions voluntary adoption
The Department for Work and Pensions (DWP) has launched a consultation setting out proposals for the adoption and launch of simpler annual benefit statements. Holly Roach reports
First Group reports £24m growth in pension deficit
First Group has reported an increase in its pension deficit in the first half of the year, but says trading is “in line with expectations”.
Milestone for Star Initiative as it reaches 50 participants
The government-backed Star Initiative has reached 50 signatories, surpassing its initial target of 30. Holly Roach looks at the project’s progress.
PIC converts Scottish Hydro-Electric Pension Scheme longevity swap into £750m buy-in
Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.
TPP election manifesto urges next government to bolster auto-enrolment
The People’s Pension (TPP) has urged the next government to improve saving for low paid workers and increase pension transparency ahead of the 12 December general election.
Pensions bill 'lost' amid election uncertainties, says Gowling
For the pensions industry, the 12 December general election means the long-awaited pensions bill is “lost”, but probably “not forgotten”, according to a blog published by law firm Gowling.
Pensions Climate Risk Industry Group to produce trustee guidance
The Pensions Climate Risk Industry Group is drafting trustee guidance on climate-related issues and how they can address the risks as part of their governance processes.
Mercer awards $125m sustainable equity mandate to Impax
Mercer has offered a $125m (£97m) mandate to Impax Asset Management’s Leaders Strategy to join its Sustainable Global Equity Fund, following a rigorous selection process.
Data quality is pensions dashboard's 'weakest link'
The quality and availability of data is the “weakest link” for the pensions dashboard, according to the Society of Pension Professionals (SPP).
Aviva Investors agrees £250m commercial property investment
Aviva Investors has entered into a further agreement with the Public Sector Pension Investment Board (PSP Investments) to invest £250m in commercial property in Cambridge.
HMRC GMP equalisation tax guidance confirmed for December
HM Revenue and Customs (HMRC) has announced it will publish its long-awaited tax guidance specific to guaranteed minimum pension (GMP) equalisation in December.
Employers need to bridge the gap between members' retirement income levels
It is the role of employers, the pensions industry, and the government to close the gap between minimum and moderate levels of income in retirement, according to the Institute and Faculty of Actuaries (IFoA).
HMRC guidance is the 'missing piece of the jigsaw' in GMP equalisation process
One year on from the landmark ruling on GMP equalisation, Holly Roach looks at how far the industry has come and what remains for schemes to do.
Revamped wake-up packs 'still not enough' for savers
Simplified, one-page pension wake-up packs launched last week, but the industry does not agree that they will make much difference to members’ saving attitudes. Holly Roach reports
PIC invests further £40m in housing association
Pension Insurance Corporation (PIC) has boosted its investment in social housing with a £40m further allocation to Soha Housing.
