Trustees “must be confident” they can continue to take care of members despite the ongoing financial fallouts caused by the spread of coronavirus, says Dalriada Trustees.
This week’s top stories included a call on the Treasury to relax pension rules to help enable saving after the coronavirus crisis, and the industry’s call for clearer guidance from The Pensions Regulator (TPR) on managing Covid-19.
Defined contribution (DC) schemes are mostly content with the current asset classes available despite the industry’s push into proving members can benefit from diversified investments underpinned by strong ESG integration.
Almost all employers are now facing challenges when providing their staff with a workplace pension, according to Smarterly.
The Pension Regulator’s (TPR) updated guidance has been met with some criticism from the industry, which is urging more action as the UK enters Covid-19 pandemic lockdown.
The continuation of pension deficit contributions is unattainable during the Covid-19 pandemic, Mercer has told The Pensions Regulator (TPR).
RPMI Railpen has added to its portfolio of London office investments with the purchase of Camden Works office scheme.
This week's top stories include ten tips for mastering virtual trustee meetings, and Unbiased's calculation that five to ten years is a reasonable amount of time for a workplace pension to recover from the market shocks of the Covid-19 crisis.
Life insurer ReAssure has posted strong 2019 results as it prepares to be merged into rival Phoenix Group by the middle of the year.
Savers with less than a decade to go until retirement have a reasonable timeframe ahead for their pension to recover from the market instability caused by the Covid-19 coronavirus, according to Unbiased.
The new All-Party Parliamentary Group (APPG) on Pension Scams has had its inaugural meeting in parliament to outline its priorities for boosting public awareness around scam risks.
PensionBee has confirmed it has partnered with Legal & General with plans to launch the nation’s first fossil fuel-free fund.
The government has left pension schemes with insufficient time to prepare members for changes to tapered annual allowance thresholds, due to come into effect from 6 April.
Pensions and financial inclusion minister Guy Opperman has warned schemes who do not have their data organised to the standard required for the pensions dashboard will face “draconian penalties.”
Small defined contribution (DC) schemes will be “nudged” into consolidation under new government plans to ramp up governance.
Guy Opperman says he will not slow down on aiming to implement “ambitious” programmes to tackle climate change while the government will also continue to intervene where it feels the industry is not doing enough.
Universities Superannuation Scheme (USS) will continue its discussions over whether a pre-and post-retirement dual discount rate approach could help plug serious funding concerns for its defined benefit (DB) section.
Scottish Widows is aiming to boost its sustainability practices by working under a new responsible investment and stewardship framework.
Phoenix Group has confirmed the acquisition of rival life insurer ReAssure Group with the deal set for completion in the next six months.
This week’s top stories include the rebrand of KPMG’s former pensions advisory practice, and the Department for Work and Pensions’ announcement that the general levy will rise 10% from 1 April.
The pensions of former staff of collapsed British airline Flybe will not be protected by the Pension Protection Fund (PPF) as it sits outside the lifeboat’s UK jurisdiction.
New chancellor Rishi Sunak is likely to ease restrictions on pension tax relief for high earners to meet the NHS workforce crisis.
The Pensions Management Institute (PMI) has launched a Belfast-based regional group to boost member engagement opportunities across Northern Ireland.
The Department for Work and Pensions (DWP) says it will press ahead with a 10% increase to the general levy from 1 April, despite a severe industry backlash to a consultation on the issue.
Mortality rates across England and Wales were 3.8% lower in 2019 than in 2018, representing the largest annual fall since 2011.
The Society of Pension Professionals (SPP) has named Fred Emden as its first chief executive.
KPMG’s pensions advisory business has relaunched following a £200m leveraged buyout that will see it rebrand as Isio.
This week’s top stories included further calls for reforms of the pension freedoms, and prevailing uncertainty over cuts to tax relief on pension contributions.
There was no industry consensus on the benefits and negatives of scrapping high-rate tax relief from this week’s 115 Pension Buzz peers in split results.
Four in five of Society of Pension Professionals (SPP) members say the minimum age criterion for auto-enrolment (AE) should be dropped while two thirds also want it expanded to age 75.
Law Debenture has reported a smaller overall growth in pensions revenue for 2019 despite an increase in net pensions revenue.
The Money and Pensions Service (Maps) has named 12 sector leaders as challenge group chairs to spearhead its newly launched strategy for financial wellbeing.
Taxes will have to increase after the March Budget if the government plans to honour the spending plans in outlined last year, the Institute for Fiscal Studies (IFS) has warned.
Reports that new chancellor Rishi Sunak is set to abandon cuts to tax relief on pensions contributions are continuing to circle.
The launch of two accreditation regimes for professional trustees into the industry at the same time is both unnecessary and confusing, says Dalriada Trustees.
Nest has demanded Barclays provide a “robust plan” on winding up investments into fossil fuel providers.
This week’s top stories included the launch of Scottish Widows’ new responsible investment team, and reports of Treasury plans to cut pension tax relief for high earners.
Almost half (43%) of trustees do not feel able to monitor and report on their schemes ESG policy to a high standard, according to CACEIS.
BAE Systems will make a one-off payment of £1bn into its pension scheme “in the coming months” to plug a £1.9bn hole.
The Pension Protection Fund (PPF) has wrapped up its three-month procurement process for partners to assist in the development of a framework agreement to provide administration, actuarial, and consultancy services to its board.
The Department for Work and Pensions (DWP) has called on The Pensions Regulator (TPR) to deepen its research on its planned regulatory approach to tackling climate-related risks and how it would manage any opportunities from climate change.
Pension Insurance Corporation (PIC) will provide €220m (£190m) of debt funding for 21 solar parks in southern Spain, adding to the £700m it has invested in the renewables sector to date.
High earners could face significant cuts to pension tax relief in the upcoming Budget under new Treasury plans to rein in the “perverse” system, according to reports.
A fifth of contract-based pension schemes expect to move to a master trust by 2025, along with a third of trust-based plans.
UKSIF says scheme trustees are failing to comply with their investment duties around ESG. Hope William-Smith looks at whether they need government intervention to get back on track.
Scottish Widows has created a specialist responsible investment team to monitor sustainable activity across its fund range.
This week’s top stories included The Pensions Regulator’s announcement of new measures around the appointment of professional trustees, and the £3bn Merchant Navy Officers Pension Fund completing a £1.6bn buy-in with Pension Insurance Corporation.
Guy Opperman has held onto his role as minister for pensions and financial inclusion after an action-packed cabinet reshuffle yesterday.