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).
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.
The Pensions Regulator (TPR) has fined a former accountant £4,987 after he failed to enrol staff into a workplace pension scheme.
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.
The industry is urging the government to prioritise combatting pension scams in 2020, according to research by the Society of Pension Professionals (SPP).
Industry experts do not agree member engagement and data quality are priorities, according to research by networking site Mallowstreet.
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.
As the DWP’s consultation on simpler annual benefit statements closes, Holly Roach looks at the industry’s response.
There will be further master trust consolidation in 2020, according to two-thirds of 109 Pensions Buzz respondents.
The government’s ban on boycotts by public institutions may extend to the Local Government Pension Schemes (LGPS).
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.
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.
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.
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 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 overtaken household property wealth to become the largest component of household wealth, according to analysis from the Resolution Foundation.
Barnett Waddingham’s full year results reveal significant growth at the business, with revenue reaching almost £100m. Holly Roach reports
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.
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.