Private pension wealth has grown to £6.1trn in the last decade up from £3.6trn, Office for National Statistics (ONS) data shows.
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.
Barnett Waddingham has published its results for the financial year ending 31 May 2019, posting revenue of £99.3m and pre-tax profits of £28.3m.
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).
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
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 has launched a digital pension scheme aimed at the self-employed following a successful £2m funding round.
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.
Seven local authorities have already committed to investing in a fund designed to help pension funds source social investments. Holly Roach reports
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.
Most of this week's 108 Pensions Buzz respondents agreed the pension schemes bill should be reintroduced in its exisiting form.
The lack of clarity from HM Revenue and Customs (HMRC) on guaranteed minimum pension (GMP) equalisation is “no excuse” for stalling implementation, says Aon.
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 has reported an increase in its pension deficit in the first half of the year, but says trading is “in line with expectations”.
The government-backed Star Initiative has reached 50 signatories, surpassing its initial target of 30. Holly Roach looks at the project’s progress.
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.
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.
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.
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 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.
The quality and availability of data is the “weakest link” for the pensions dashboard, according to the Society of Pension Professionals (SPP).
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.
HM Revenue and Customs (HMRC) has announced it will publish its long-awaited tax guidance specific to guaranteed minimum pension (GMP) equalisation in December.
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).
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.
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
Pension Insurance Corporation (PIC) has boosted its investment in social housing with a £40m further allocation to Soha Housing.
Workplace pension schemes may not be doing enough to fix ‘pension blind spots’ as many workers remain unaware of the benefits available to them, the Money and Pensions Service (MAPS) has found.
Employers are increasingly concerned about the costs and complexity associated with equalising guaranteed minimum pensions (GMPs), according to the Association of Consulting Actuaries (ACA).
The industry needs to spend a significant amount of money on data and administration to make the dashboard worthwhile, according to pension professionals.
The data the industry holds is not yet good enough for the pensions dashboard, industry experts say.
Redington managing director Marian Elliott picked up the Adviser of the Year award at PP’s Women in Pensions Awards. She talks to Holly Roach about her success.
The lifetime allowance will rise to £1,073,000 from next April as inflation in the year to September stands at 1.7%.
Schemes with poor record keeping should be handed harsher punishments, say the majority of this week’s 83 Pensions Buzz respondents.
Estimates of the amount of money needed for a ‘modest’ retirement can vary by up to £500,000, according to research from Aon.
The buyout deficit of FTSE 350 pension schemes has reduced by £2.5bn since the introduction of Freedom and Choice due to an increased number of transfer exercises, Barnett Waddingham has found.
The number of employers and advisers looking to change their pension provider has increased by nearly two thirds this year, according to research by Aviva.
The government will pay out £21bn in income tax relief for pension contributions this tax year, while national insurance relief payments will rise to £18.7bn, according to statistics from HM Revenue and Customs (HMRC).
Capital Cranfield client director Judith Maguire scooped the Trustee of the Year accolade at this year’s Women in Pensions Awards. She talks to Holly Roach about her success.
Three-quarters of self-employed workers agree it is important to save for retirement, and more than half want help with it, according to NEST.
The GMP Equalisation Working Group has published its first guidance note to assist schemes in undertaking the process. Holly Roach discusses what schemes should do next
FTSE 100 risk settlement transactions have reached £70bn as a third of these firms remove longevity risk, according to Aon.
The University of Oxford Staff Pension Scheme has received master trust authorisation from The Pensions Regulator (TPR), taking the total number of approved schemes to 34.
Pensions and financial inclusion minister Guy Opperman has written to the 50 largest pension schemes requesting action to combat climate change.
The Association of Consulting Actuaries (ACA) has called for five key policy measures to be included in the upcoming pensions bill.
A pensions bill is completely ready to go and waiting for a Queen’s Speech, according to pensions and financial inclusion minister Guy Opperman.
Responsible investing has dramatically grown in importance to investors over the last year, according to research by Aon.