Jonathan Stapleton
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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.
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).
TPR posts sharp increase in use of frontline powers against schemes
The Pensions Regulator (TPR) has substantially increased the usage of its powers against trustees – posting a sharp rise in the use of formal information gathering powers and High Court production orders during the three months to the end of September....
Pension Schemes Bill passes final stages of the House of Commons
The Pension Schemes Bill has completed its third reading, crossing its latest hurdle in the House of Commons.
Webinar: Engage or divest? How can the pension industry make a real ESG impact
Professional Pensions is holding a webinar on how the pensions industry can make a real impact when it comes to ESG – asking what is better, to engage or to divest.
PMI unveils competency framework
The Pensions Management Institute (PMI) has launched a competency framework setting out the functional and technical competences needed to be effective in the industry at all career levels.
FRC urges improvements in corporate reporting following climate change review
Corporate reporting needs to improve to meet investor expectations on the issue of climate change, the Financial Reporting Council (FRC) says.
Why simpler annual statements could mark the start of better member engagement
Jonathan Stapleton says that, while the production of two-page simpler annual statements is no panacea for member engagement, it is a welcome step in the right direction.
Ruston Smith: Working together to solve the industry's challenges
Ruston Smith talks about how collaboration can help the industry solve the challenges it faces
'Wake-up call' to fiduciary managers as one-third of schemes switch providers following retender
Just over one-third (36%) of schemes retendering for full fiduciary management services are switching providers, latest analysis by Isio reveals.
Buck acquires Concert Consulting
Buck has announced its acquisition of pensions and employee benefits communications firm Concert Consulting in a bid to expand its member engagement offering.
Timeline for pensions dashboards announced - Data standards due in December but consumer offering not available until at least 2023
The Pensions Dashboards Programme (PDP) has published its second progress update report – setting out a timeline for the development of the project.
Punter Southall launches DB scheme consolidator called Stoneport Pensions
Punter Southall has launched a defined benefit (DB) scheme consolidator in a bid to allow small schemes to cut their running costs, reduce risk and improve benefit security and governance.
London CIV partners with MSIM to launch global equity core fund
London CIV and Morgan Stanley Investment Management (MSIM) have announced the launch of a global equity core fund.
UPDATED: DWP to mandate use of simpler annual statements for auto-enrolment DC schemes
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
Clara Pensions adds Wilton Re as additional capital partner
Wilton Re has made an investment in Clara Pensions to support the consolidator’s growth and development.
WSB Awards 2020 - The Winners
Here they are - the winners of the Workplace Savings and Benefits Awards 2020...
LGIM integrates ESG and climate impact pledge into DC defaults
Legal & General Investment Management (LGIM) has incorporated ESG considerations as well as its climate impact pledge into the default funds for the 3.3 million members in its master trust and contract-based schemes.
Register now: How is Covid-19 disruption driving digital transformation in pensions?
Schemes and their administrators have rightly received much praise for ensuring that pensions have continued to be paid in full and on time during an unprecedented period of disruption.
What did someone with 13 million subscribers tell the pensions industry about engagement?
Martin Lewis founded Money Saving Expert, a website that has since built up an email following of 13 million people, after investing just £100 in a website at the beginning of the millennium. But how has Lewis achieved such cracking engagement? And what...
Bank of England move to negative rates would have limited impact on schemes
Any move by the Bank of England (BoE) to cut interest rates to zero or move them into negative territory would have a limited impact on well-hedged schemes, the industry says.
Morgan Stanley to buy Eaton Vance for $7bn
Morgan Stanley has agreed to buy Eaton Vance for $7bn (£5.4bn) – a move that will nearly double the size of its investment management business.
2020 volatility would not have led to CDC benefit cuts, Aon says
UK collective defined contribution (CDC) schemes would have weathered 2020 market volatility and would not have needed to cut member benefits, Aon says.
PRAG updates guidance on cybercrime protection as 43 pension organisations report breaches to ICO over past two years
The Pensions Research Accountants Group (PRAG) has published updated guidance to help trustees protect their schemes from cybercrime.