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.
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.
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’s bulk purchase annuity volumes increased 55% to £4bn in the year to 31 December 2019 its full year results reveal.
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).
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.
Sodexo Trustees has appointed Cosan Consulting to provide trustee executive support services for its £700m pension fund.
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.
The impact of coronavirus has added £100bn to defined benefit (DB) schemes in just one week, according to Hymans Robertson.
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.
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’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.
The House of Lords has called for pension schemes to align their portfolios with the objectives of the Paris Climate Agreement.
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.
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 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.
Barnet Council has appointed West Yorkshire Pension Fund (WYPF) to replace Capita to administer its local government pension scheme (LGPS).
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).
The Department for Work and Pensions (DWP) revealed savers are sticking with the auto-enrolment (AE) saving habit as the "pensions revolution continues".
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.
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’s DB transfers code of good practice is asking the industry to commit to delivering faster, safer transfers. Holly Roach reports
This week’s 89 Pensions Buzz respondents agreed with The Pensions Regulator’s decision to hold back from mandating the use of professional trustees.
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.
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.
Nearly half (48%) of UK investors expect to increase their socially responsible investments over the next three years, according to research by Charles Stanley.
LCP says significant numbers of savers want to invest in responsible companies but default funds aren’t keeping up with these changing preferences. Holly Roach reports
Just one in ten employers believe their pension offering has actively embraced ESG investment options, according to research by Howden Employee Benefits & Wellbeing.
Guy Opperman has confirmed the earnings trigger for auto-enrolment (AE) will remain at £10,000 following this year’s annual review.
Premier has received accreditation from the Pensions Administration Standards Association (PASA).
Speculation is growing that chancellor Sajid Javid is seeking to raise revenue by cutting the tax relief on pension contributions for high earners from 40% to 20%.
Mercer has closed its Private Investment Partners (PIP) V strategy, having successfully raised it with $2.7bn (£2.08bn) in total commitments.
The Pensions Regulator (TPR) has revealed 90% of people are saving into the largest master trusts, creating a “safe and stable” workplace pension market.
More than half (54%) of workers do not know the size of their pension pots, according to research by the Pensions and Lifetime Savings Association (PLSA).
The Pensions Regulator (TPR) is carrying out spot checks on the UK’s largest employers to protect savers and ensure staff continue to receive the pensions they are due.
Morgan Stanley Investment Management (MSIM) has launched a development fund focused on bottom-up stock selection of companies with sustainable competitive advantages and long-term growth.
River and Mercantile (R&M) has revealed it has been appointed to run a £1.16bn fiduciary mandate.
Analytical services company Camradata has published a white paper investigating how local authorities can act more responsibly with pension investments.
A group of London pension organisations have launched an investment fund focused on local housing, infrastructure and business.
The Church of England Pensions Board has selected the FTSE Transition Pathway Initiative (TPI) Climate Transition Index for a £600m mandate.
This week’s 102 Pensions Buzz respondents were in agreement that a permanent pensions commission should be formed.
Pension Wise saw a 49% increase in customers arranging appointments with the service over the course of 2018/2019.
Pension providers must now be proactive and prepare their data in order to be ready for the pensions dashboard, Guy Opperman has warned.
Holly Roach reports on how the schemes won a US class action case, reaching a $350m settlement.
The Money and Pensions Service (Maps) has launched a financial wellbeing strategy to address poor financial wellbeing in the UK.
Think tanks The Fabian Society and Bright Blue have called for a new pensions commission, as Guy Opperman lends his support.
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.