It’s not all gloom and doom say Buzz respondents…
The Tyne & Wear Pension Fund has invested £650m in the Future World index equity fund range in a bid to up its generation of sustainable returns for members.
The Brandsby Agricultural Trading Association (BATA) has agreed a £13m buyout with Legal & General (L&G), securing benefits for all 120 members of the BATA Superannuation Pension Scheme.
One-in-ten defined benefit (DB) schemes have already discussed the option of superfund consolidation as a target endgame while a further 9% are planning to do so shortly, according to Willis Towers Watson (WTW).
Amendments to the Pension Schemes Bill passed by peers in the House of Lords last night will see a wide-ranging suite of reforms for the pensions industry draw another step closer.
The IPC Media Pension Scheme has agreed a £290m buy-in with Rothesay Life, insuring benefits for around 500 pensioner members.
The government’s Money and Pensions Service (Maps) needs to build further on plans announced last week to spearhead industry cooperation initiatives, PP readers say.
The Continuous Mortality Investigation’s (CMI) mortality monitor has recorded a lower number of week-on-week deaths comparative to 2019 for the first since the outbreak of Covid-19 in the UK.
The positive impact of auto-enrolment (AE) on retirement savings risks running out of steam amid growing concerns about the damage of the Covid-19 pandemic, says Scottish Widows.
The economic uncertainty generated by Covid-19 is likely to cause a large number of defined contribution (DC) schemes to move into master trusts, according to PP readers.
Close to £10bn was transferred out of defined benefit (DB) pension schemes in the last quarter of 2019, according to figures from the Office for National Statistics (ONS).
FTSE 350 companies with defined benefit (DB) pension schemes have been hit particularly hard by the economic crisis caused by Covid-19, latest research from Barnett Waddingham shows.
The Pensions Regulator (TPR) has said it will continue with its “clear, quick and tough” approach to driving up standards across the pensions industry following the coronavirus pandemic.
Red tape preventing pension schemes from managing the barriers around GMP equalisation is leading to many combining conversion with pension increase exercises (PIE), Aon says.
This week’s top stories included a High Court judgement ruling the Pension Protection Fund’s compensation caps age discriminatory, while the revenue of the three biggest pension consultancy firms saw a year-on-year dip for 2019.
The Department for Work and Pensions (DWP) has launched a review to assess the effectiveness of costs, charges and transparency measures in protecting pension member outcomes.
Defined benefit (DB) pension trustees without technology-led processes are losing a total of 3,000 days per year, according to Willis Towers Watson (WTW).
Bank of England (BoE) governor Andrew Bailey is understood to have warned against superfund consolidation of defined benefit (DB) pension schemes less than a week after the entities were given the green light by The Pensions Regulator (TPR).
The latest data from the Office for National Statistics (ONS) shows excess death rates in England and Wales during the Covid-19 pandemic have remained low for another week.
The Financial Conduct Authority (FCA) will bring forward proposals designed to promote value for money for workplace pension schemes members, a consultation paper says.
The Cost Transparency Initiative (CTI) will build on 12 months of positive industry take up with the launch of additional resources to encourage more schemes and asset managers to adopt the standards.
This week’s top stories included The Pension Regulator’s launch of interim guidance for the superfund market, while the regulator also extended Covid-19 easements and resumed some reporting requirements.
Consultants, trade bodies, and professional societies across the pensions industry have responded relatively positively to guidance from The Pensions Regulator (TPR) that has today signalled a clear start for defined benefit (DB) scheme consolidation...
Defined benefit (DB) scheme consolidators The Pensions Superfund and Clara Pensions are both set to begin transacting as soon as possible after new guidance for their operations was issued by The Pensions Regulator (TPR).
The Pensions Regulator (TPR) has issued guidance for pension superfunds in a move which opens the door for a further wave of defined benefit (DB) scheme consolidation.
While the latest guidance from The Pensions Regulator (TPR) provides more relief for providers, trustees are not yet able to cope with the demands of meeting its expectations, the industry says.
There were 4% more deaths registered in week 23 of 2020 than if death rates had been the same this time last year, down from 17% last week, according to the Continuous Mortality Investigation (CMI).
Legal & General has switched on a “manage your account” portfolio for 3.7 million defined contribution (DC) scheme members across the UK.
The Money and Pensions Service (Maps) has a “critical role to play” in the UK’s economic recovery from coronavirus, it says in a ten-year corporate plan released today.
LV= is exploring the sale of its remaining life and pensions operations, Sky News has reported.
This week’s top stories included a three-month extension for NHS Pension Scheme members to use the Covid-19 voluntary scheme pays facility, while a small amendment to the Pension Schemes Bill caused confusion over the running of the pensions dashboard....
The pensions industry’s regulators and key players have identified climate change and the Covid-19 pandemic as key risks to the sustainability of high-quality actuarial work.
The Pension Scams Industry Group (PSIG) has today (10 June) called on the Financial Conduct Authority (FCA) to consider further interventions to protect pension scheme members from scams.
A small amendment to the pension schemes bill on 8 June has been labelled ‘significant’ in meeting criticism of the pensions dashboard but has sparked confusion over whether it could confirm a ‘water-tight’ commitment to run a single dashboard.
There is a continued gradual decline in the number of excess weekly deaths in England and Wales three months into the Covid-19 lockdown, according to the Continuous Mortality Investigation (CMI).
The University of Bristol Group Personal Pension Plan (UBGPPP) has appointed Aviva Life and Pensions to oversee group life assurance and group income protection for its members.
A total of £5.1m worth of losses to fraud have been reported across the UK since February, according to ActionFraud.
This week’s top stories included Barnett Waddingham announcing nine new partner promotions, while three accounting bodies came together to publish Covid-19 guidance for the compilation of pension scheme accounts.
The PPF’s Lisa McCrory tells Professional Pensions about her promotion to chief financial officer alongside her role as chief actuary, and her focuses during the coronavirus pandemic.
The impact of the coronavirus pandemic on the UK labour market will cause a significant increase in the number of dormant pension pots in 2020, with defined contribution (DC) schemes most affected.
The number of excess deaths for week 21 of the year have been very similar to the number of Covid-19 related deaths for the first time since March, according to the Continuous Mortality Index (CMI).
The trustees of the Dolce Limited Retirement Benefits Scheme have selected First Actuarial to provide administration and actuarial services from this month.
Asset manager Greencoat Capital has acquired the Lincolnshire-based Sleaford Renewable Energy Plant with funds from RPMI Railpen and Greencoat Renewable Income and commitments from UK corporate and Local Government Pension Scheme funds.
A new tracker launched by XPS Pensions Group predicts Covid-19 related deaths for the UK are now at or close to 50,000.
Universities Superannuation Scheme (USS) will divest from tobacco, coal, and controversial weapons manufacturers following “years of demand” from members and recent protests on its overall commitment to climate action.
The Society of Pension Professionals is looking to make dynamic changes in a bid to stand out from the growing number of trade bodies catering for a dwindling audience.
This week’s top stories included XPS Pensions revealing the best and worst performing fiduciary managers in Q1, while the Pensions and Lifetime Savings Association has published a template to help defined contribution trustees with annual chair’s statements....
Pension savers could see a faster recovery of monies lost during the Covid-19 pandemic by increasing contributions ahead of a market rebound, according to research from PensionBee.