Holly Roach
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Articles by Holly Roach
Royal London IGC investment rating smashes 2019 targets
Royal London’s independent governance committee (IGC) report revealed investment performance for all workplace pension customers in 2019 was above its target.
Self-isolating pension professionals and their pets
Pension professionals show us their new 'work colleagues' as their turn their homes into offices.
Key issues for trustees and sponsors to consider amid coronavirus crisis
DLA Piper has set out a list of key issues for occupational pension scheme trustees and sponsors to consider in light on the Covid-19 pandemic.
PASA launch cybercrime and fraud working group
The Pensions Administration Standards Association (PASA) has launched a cybercrime and fraud working group to equip members will relevant guidance to best avoid pension scams.
Government urged to relax rules to enable savers to rebuild pension pots
Lane Clark & Peacock partner Steve Webb has called on the treasury to relax rules which could act as a barrier to people aiming to rebuild their pension pots when the Covid-19 crisis is over.
Star Initiative reaches implementation phase
The Star Initiative has entered the implementation phase allowing members to agree an approach to deliver Star reporting and provide an opportunity to discuss change requests and challenges.
TPR must 'strike a balance' between tackling deficits and employer support
The Pensions Regulator (TPR) must “strike a balance between getting pension scheme deficits tackled swiftly and not pushing so hard as to jeopardise the long-term future of the employer”, according to Lane Clark & Peacock (LCP) senior partner Bob Scott....
Greater clarity needed on climate-related stress tests, says IFoA
The Institute and Faculty of Actuaries (IFoA) has welcomed climate-related stress tests, but revealed UK insurers need greater clarity around the framework.
Updated: The contingency plans activated by administrators during the coronavirus outbreak
In the face of the coronavirus outbreak, Holly Roach looks at the contingency plans activated by key pensions administrators to ensure business continuity.
PPF set to 'go live' with D&B insolvency risk scores
The Pension Protection Fund (PPF) is set to go live with insolvency risk scores calculated by Dun & Bradstreet (D&B) next month for 2021/22 levy invoices.
USS reports itself to TPR following breach of funding measure amid market volatility
Universities Superannuation Scheme (USS) has reported itself to The Pensions Regulator (TPR) after one of its key funding measures exceeded a specific threshold for five consecutive days following continued financial market volatility.
LGPS funds' knowledge and understanding to be assessed
Hymans Robertson has launched a national assessment to measure levels of knowledge and understanding in Local Government Pension Schemes (LGPS).
PMI postpones exams while FCA delays consultation responses amid coronavirus outbreak
The Pensions Management Institute (PMI) has postponed all of its exams, while the Financial Conduct Authority (FCA) has moved to delay its consultation responses amid the market disruptions caused by the Covid-19 outbreak.
GMP Equalisation Working Group publishes rectification guidance
The reconciliation and rectification sub-committee of the Guaranteed Minimum Pension Equalisation Working Group (GMPEWG) has published guidance on when to rectify for the effects of equalisation.
Ten tips for mastering virtual trustee meetings
A rise in the use of virtual trustee meetings could prove challenging for those involved but there are ways to improve their effectiveness, Aon says.
PLSA publishes guide on diversity and inclusion
The Pensions and Lifetime Savings Association (PLSA) has published a step-by-step guide on diversity and inclusion detailing steps for trustees to follow to promote greater inclusivity.
No 'across the board good scenario' for pension schemes with RPI reform
There is “no across the board good scenario for pension schemes” in the reforms to the Retail Prices Index (RPI) proposed by the Treasury, according to Isio actuary John Hodgson.
Treasury launches consultations on RPI reform and the net-pay anomaly
The government has launched consultations on overhauling the Retail Prices Index (RPI) methodology and addressing the net-pay anomaly.
Still no decision on who will run the pensions dashboard
No long-term decision has yet been made on who will run the pensions dashboard once it has been built, according to Pensions Dashboard Industry Delivery group principal Chris Curry.
WPC questions TPR over response to pension liberation scam
The Work and Pensions Committee (WPC) has written to The Pensions Regulator (TPR) questioning its response to the collapse of Norton Motorcycles and the three pension schemes invested in the company.
PPF bonus gap remains despite 7% pay gap drop
The Pension Protection Fund’s (PPF) median gender pay gap stood at 13% as at 31 March 2019, down from 17% in 2018, and 20% the year prior, according to its annual pay gap report.
Smart Pension to consolidate Welplan Pensions Master Trust
Smart Pension is set to take on all members and employers of the Welplan Pensions Master Trust, following its closure last year.
PIC boosts financial investments by £10bn in 2019
The Pension Insurance Corporation (PIC) boosted its financial investments last year by nearly £10bn to £40.9bn, up from £31.4bn the year prior, according to its full-year results.
Expected retirement age rises by more than two years
The average age 40 to 54 year-old men and women expect to retire increased between 2006 and 2017 by more than two years, the Institute for Fiscal Studies (IFS) says.
Government to question Maps on pensions dashboard progress
The Work and Pensions Committee is due to question the senior leadership of the Money and Pensions Service (Maps) on the progress made in developing the pensions dashboard.
Aviva reports 55% rise in bulk annuity purchase volumes
Aviva’s bulk purchase annuity volumes increased 55% to £4bn in the year to 31 December 2019 its full year results reveal.
RPI reform proposals 'should go further' than a simple CPIH replacement
Most pension professionals (58%) believe Retail Prices Index (RPI) reform should go further than simply switching to the housing-cost based Consumer Prices Index (CPIH), according to the Society of Pension Professionals (SPP).
Businessman fined £12,800 over documentation of 16 pension schemes
A business owner has been fined £12,800 after failing to hand over information and documents to The Pensions Regulator (TPR) about investments relating to money from 16 pension schemes.
Cosan Consulting appointed by Sodexo to provide trustee support
Sodexo Trustees has appointed Cosan Consulting to provide trustee executive support services for its £700m pension fund.
Fujitsu moves DC scheme members to LifeSight master trust
Fujitsu Pension Scheme has moved its defined contribution (DC) members into Willis Towers Watson’s LifeSight master trust, passing on full responsibility for the management of its members’ pension provisions.
DB scheme deficits grow by £100bn due to coronavirus impact
The impact of coronavirus has added £100bn to defined benefit (DB) schemes in just one week, according to Hymans Robertson.
Ministers 'should not rush' to raise pension access age beyond 55
Lane Clark & Peacock partner Steve Webb has urged ministers not to rush raising the pension access age amid growing speculation of a Budget announcement to accelerate the current timetable.
Chancellor should simplify 'hideously complex' pensions tax relief system
Lane Clark & Peacock (LCP) has suggested the chancellor should take advantage of a large parliamentary majority to introduce a fundamental reform to pensions tax relief to raise significant sums.
British American Tobacco pension schemes' net liabilities almost double in a year
British American Tobacco’s (BAT) overall net liability for its pensions and healthcare schemes in group subsidiaries nearly doubled in the year to 31 December 2019 to £1.03bn from £518m the year prior.
House of Lords calls for pensions to align with Paris Climate Agreement
The House of Lords has called for pension schemes to align their portfolios with the objectives of the Paris Climate Agreement.
Which? calls for urgent introduction of a pensions dashboard
Which? has called for urgent introduction of a comprehensive pensions dashboard after an investigation revealed how the current system leaves workers struggling to track down their retirement pots.
Positive expectations for TPR's long-awaited funding code
The industry has positive expectations for The Pensions Regulator’s (TPR) forthcoming funding code for defined benefit (DB) pension schemes, according to Aon.
Taylor Wimpey sees £8.9m actuarial loss on DB scheme
Taylor Wimpey saw an actuarial loss on its defined benefit (DB) pension scheme of £8.9m in the year ending 31 December 2019, significantly lower than the £84.3m loss the year prior.
West Yorkshire Pension Fund appointed to administer Barnet Council LGPS
Barnet Council has appointed West Yorkshire Pension Fund (WYPF) to replace Capita to administer its local government pension scheme (LGPS).
Pension freedoms reform called for after fears savers will run out of money
Further reforms to pension freedoms are needed to ensure the long-term success and sustainability of pension freedoms, according to the Association of British Insurers (ABI).
AE benefits apparent despite savings lull
The Department for Work and Pensions (DWP) revealed savers are sticking with the auto-enrolment (AE) saving habit as the "pensions revolution continues".
Industry not convinced by GMP equalisation tax guidance; unanswered questions remain
The pensions industry still has a number of questions following the publication of HM Revenue and Customs’ (HMRC) guidance on tax issues covering GMP equalisation.
HMRC publishes guidance on tax issues arising from GMP equalisation
HM Revenue and Customs (HMRC) has published guidance on the pension tax issues arising from equalising benefits for the effect of inequalities in guaranteed minimum pensions (GMPs).
PASA launches consultation on DB transfers code
PASA’s DB transfers code of good practice is asking the industry to commit to delivering faster, safer transfers. Holly Roach reports
TPR's decision on professional trustees was right, say peers
This week’s 89 Pensions Buzz respondents agreed with The Pensions Regulator’s decision to hold back from mandating the use of professional trustees.
Largest ever university strikes over pay and pensions to begin tomorrow
Universities and College Union (UCU) members are set to begin 14 days of strike action in the largest wave of staff strikes ever seen on UK campuses.
Unsuitable DB transfers could result in £20bn in losses
The Financial Conduct Authority (FCA) revealed unsuitable transfers out of defined benefit (DB) schemes could result in collective losses of up to £20bn worth of guarantees over five years.