Jonathan Stapleton
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DWP confirms general levy hike from April; Option one chosen
The Department for Work and Pensions (DWP) has confirmed that it will increase the general levy pension rates from April 2021 in line with its preferred option.
Chris Sier fintech ClearGlass Analytics closes £2.6m seed funding round
ClearGlass Analytics has closed a £2.6m funding round as it delivers greater accountability to pension funds and the wider asset management market.
RPMI Railpen establishes in-house trading capabilities
RPMI Railpen has announced plans to internalise its trading desk, which is expected to be operational over the summer.
Pensions minister sets out timetable for Pension Schemes Act regulations
Pensions minister Guy Opperman has set out a timetable for secondary legislation to bring Pension Schemes Act provisions into force.
TPR agrees £25m settlement with owners of Silentnight
The Pensions Regulator (TPR) has agreed a settlement in its anti-avoidance case against the current owners of the bed manufacturer Silentnight.
LCP calls for 'fundamental rethink' on DC chair's statements
Defined contribution (DC) chair’s statements need a major re-think as part of the Department for Work and Pensions’ five-yearly statutory review on the rules around scheme governance in 2021, LCP says.
UK launches £10m research centre to spur greener global financial system
The UK is investing £10m in a national green finance research centre that will advise lenders, investors and insurers, enabling them to make environmentally sustainable decisions, and support a greener global economy.
Opperman: Secondary legislation now priority following Royal Assent for Pension Schemes Act
Minister for Pensions and financial inclusion minister Guy Opperman has pledged to make secondary legislation for the Pension Schemes Act his “number one” priority over the coming months.
Quarter of schemes switch to DC master trusts; a further half planning similar move
Transfers to defined contribution (DC) master trusts will continue well into 2021, latest research from Sackers reveals.
Webinar: Investing for the transition to net-zero
Professional Pensions is holding a webinar on investing for the transition to net-zero on Thursday (11 February) at 11am.
USS signs five-year contract extension with Capita Pensions
Capita Pensions has signed a five-year contract extension with the £66.5bn Universities Superannuation Scheme (USS) to continue to deliver the fund’s pension system and administration support.
How much are trustees paid? Survey reveals 'lagging' remuneration and lack of diversity
Trustees are among the lowest paid roles in pension scheme management despite growing responsibilities and increased regulation, PwC research reveals.
Covid increases investor focus on ESG but major implementation obstacles remain
One third of investors say the pandemic has increased their focus on ESG issues, with the issue now a focus across asset classes, research from bfinance shows.
A list of Pensions and Lifetime Savings Association chairs
The list of the most recent chairs of the Pensions and Lifetime Savings Association (PLSA) – the body known as the National Association of Pension Funds (NAPF) up to 2015 – is as follows.
'Stars align' to boost health of UK schemes to more than pre-Covid levels
The health of the UK’s defined benefit (DB) pension schemes has surpassed that of their pre-Covid levels as they continued to recover through final quarter of 2020, Legal & General Investment Management (LGIM) research reveals.
Exclusive: Mercer to shut five offices as part of post-pandemic acceleration of flexible working
Mercer has set out plans to move to an agile office model on a permanent basis – closing a number of offices and modernising others as a result of both the acquisition of JLT in 2019 and the impact of the Covid-19 pandemic.
Exclusive: Buck UK posts 8% revenue growth in 2020; headcount grows to 734
Buck has released its 2020 financial results showing year-on-year organic revenue growth of 8% to £57m in the UK.
Hymans Robertson buys Bath Actuarial Consulting
Hymans Robertson has acquired Bath Actuarial Consulting (BAC) in a bid to boost its corporate consulting business.
ICSWG launches trustee guide for assessing consultants' climate competency
The Investment Consultants Sustainability Working Group (ICSWG) has launched a guide to help trustees assess their investment consultants’ climate competency.
FOI request reveals regional Pension Wise disparity
Pension Wise is delivering double the number of appointments to pension savers in some regions of the UK than in others, a freedom of information request submitted to the Money and Pensions Service (Maps) reveals.
'Disappointed' PLSA calls for structural reform as part of DWP's general levy proposals
The Pensions and Lifetime Savings Association (PLSA) has expressed it is disappointed with the Department for Work and Pensions’ (DWP) general levy consultation – saying there should be no increase in the levy without structural reform.
LGIM Real Assets commits to deliver net-zero across its real estate portfolio by 2050
LGIM Real Assets has committed to deliver net-zero carbon across its 76 million sq. ft. UK real estate portfolio by 2050.
Tender Watch: GMC scheme reappoints Aon; Homes England hires Hymans; Civil Service appoints NTT Data for CSPS and RMSPS schemes
Professional Pensions rounds up some of the latest tender awards from across the industry.
Mercer urges government and HMRC to clarify GMP equalisation guidance
The government must work with HM Revenue and Customs (HMRC) and the wider industry to clarify GMP equalisation uncertainties, Mercer says.
Exclusive: Mobius Life launches ESG reporting service
Mobius Life has launched a service to provide pension schemes with a report which collates asset managers’ ESG themes to help trustees complete their annual implementation statements.
FCA data reveals over £20bn of DB transfers between 2018 and 2020
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
TPR response to funding code consultation reveals level of industry concern over twin-track regime
The Pensions Regulator (TPR) has published the interim response to its first defined benefit (DB) funding code consultation – highlighting the depth of industry concern around its proposed twin-track regime.
DWP sets de-minimis for flat-fee AE charges and launches work to standardise cost reporting
The Department for Work and Pensions (DWP) will ban the charging of flat fees on AE auto-enrolment (AE) pots below £100 and launch work on how to standardise cost and charges reporting.
Have your say: What do you think will be the most important pension issues in 2021?
In this latest Pensions Buzz we want to know what will be the biggest pension issues in 2021.
Barclays Bank UK Retirement Fund integrates ESG and climate risk into £1.3bn DGF
The Barclays Bank UK Retirement Fund (Barclays UKRF) has integrated ESG factors and climate risk into a £1.3bn diversified growth fund (DGF) portfolio used for its defined contribution (DC) scheme.
Rodda takes over from Dromey as shadow pensions minister
Matt Rodda has taken over the role of shadow pensions minister from Jack Dromey following a Labour frontbench reshuffle.
Updated: Peter Weiner dies following battle with cancer
Industry stalwart Peter Weiner has passed away aged 69 following a battle with cancer.
MJ Hudson acquires private markets performance analytics firm PERACS
MJ Hudson has bought private equity fund and portfolio performance specialist PERACS in a further expansion of its data and analytics division.
Helen Dean awarded CBE in New Year's Honours for services to pension saving
Nest Pensions chief executive Helen Dean has been awarded a CBE for services to pension savings in the New Year Honours 2021.
TPR bans corporate trustee and its director for 'serious' failings
The Pensions Regulator (TPR) has banned a corporate trustee and one of its directors from acting as pension scheme trustees after multiple governance failures highlighted a lack of competence, capability and integrity.
The top 10 features of 2020
What were the most read features on Professional Pensions over the last 12 months? We look at some of the top long-form articles on our site during the year.
DWP taskforce sets out actions to enable large-scale consolidation of deferred small pots
The small pots working group has made a number of recommendations on how to tackle the growth of deferred members with small pension pots within the AE pensions market – urging the government and industry to take action to enable large-scale mass transfers....
PLSA survey finds trustee boards still insufficiently diverse; Most schemes have no plan in place to remedy situation
Greater diversity in the industry can improve decision-making and help with attracting and retaining talent but few schemes have diversity and inclusion plans in place, Pensions and Lifetime Savings Association (PLSA) research reveals.
Barclays Retirement Fund completes £5bn longevity swap with Reinsurance Group of America
The Barclays Bank UK Retirement Fund has completed a £5bn longevity swap with Reinsurance Group of America (RGA).
AMNT calls for 'positive action' in order to recruit new member-nominated trustees
The Association of Member-Nominated Trustees (AMNT)has called for trustees to take positive action in order to recruit new trustees to scheme boards.
Barnett Waddingham posts 9% rise in revenues to break £100m turnover milestone
Barnett Waddingham has published its annual report and accounts, revealing a 9% rise in revenues to £107.9m and a 5% increase in pre-tax profits to £29.7m in the year to 31 May.
Smart launches retirement product
Smart has launched a retirement product in a bid to help guide members and bridge the advice gap.
UPDATED: Capita sells employee benefits business to Benefex; Atlas Master Trust not part of transfer
Capita has sold its employee benefits business to Benefex following a strategic review.
A beacon of hope: How the PMI will evolve in a post-Covid world
PMI president Lesley Alexander and the institute's immediate past-president Lesley Carline talk about the challenges of Covid-19 and the opportunities and challenges the industry faces in the future.
XPS Pensions posts 9% uptick in H1 revenues
XPS Pensions posted a 9% increase in revenues during the six months to 30 September – a rise driven by a number of large client wins.
Government infrastructure bank to partner with pension funds to support investment
The government will set up an infrastructure bank to support investment and to co-invest alongside investors including pension funds.
PMI revamps board with four appointments
The Pensions Management Institute (PMI) has appointed three non-executive directors and an executive director to its board.
TPR expands Determinations Panel with appointment of new chair and four members
Former Financial Regulators Complaints Commissioner Antony Townsend is to become chair of an expanded Determinations Panel at The Pensions Regulator (TPR).