Hope William-Smith
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Children's nursery director fined over misleading TPR on AE failures
A Merseyside pre-school nursery and its director have been ordered to pay £8,200 after admitting failing to enrol members of staff into a workplace pension scheme.
CII initiative launches manifesto to assist with financial resilience
The CII's Insuring Women's Futures Initiative has launched its 2019 manifesto and outlined guidance for financial services firms to help female financial resilience.
Number of women without pensions almost doubles in two years
The number of women in the UK without any pension arrangements has almost doubled from 7% in 2017 to just over 13% in 2019, according to research from Aegon.
Greens pledge flat rate of tax relief and forced LGPS fossil fuel divestment
The Green party has outlined a range of pension and tax provisions in its election manifesto released today.
Govt in 'quick fix' move to pay NHS workers' pension tax bills
The government is to pay the tax bills of NHS workers caught out by changes to pension contribution limits who have been turning down additional work for fear of running up large tax bills.
Industry Voice Video: Climate call to action
In 2018 we wrote a letter, supported by 60 asset managers and owners, urging the oil industry to take more action on climate change. What was the outcome?
Industry agrees DC master trusts have set a good example for other schemes
This week's 88 Pensions Buzz respondents agreed that defined contribution (DC) master trusts have set a good example for other types of DC schemes during the authorisation process.
Five stories you may have missed this week
This week’s top stories include the approval of the settlement deal between British Airways and the trustees of the Airways Pension Scheme, and calculations that show pension schemes could save 20% if they move to a defined contribution master trust....
Children's nursery director admits to misleading TPR
The director of a Merseyside nursery has admitted to failing to comply with automatic enrolment (AE) responsibilities after setting up a pension scheme that was left empty.
LGPS Central private equity fund reaches fully-invested status
LGPS Central has fully invested its inaugural private equity fund eight months on from its launch.
Women saving for retirement cannot escape widening pensions gap
Most women are not saving enough for retirement and remain at risk of running out of money after they finish work, according to new analysis.
Former trustee admits £250,000 pension scheme fraud
The former trustee of a charity for the disabled has pleaded guilty to fraud after transferring more than £250,000 from the organisation’s pension scheme.
British Steel staff positive on Chinese buyout plans after pension collapse
A lifeline for British Steel in the form of a Chinese buyout would have positive implications for its workers caught up in its defined benefit (DB) pension transfer scheme saga.
AE safety net for employed women leaves entrepreneurs to struggle
A third of female entrepreneurs in the UK are not saving any money towards their retirement, figures from Scottish Widows show.
Interest rates held ahead of general election
The Bank of England’s monetary policy committee (MPC) has voted by a majority of 7-2 to maintain the interest rate at 0.75%.
RPMI Railpen boosts property investment with duo of development deals
RPMI Railpen will develop a newly purchased site with a speculative warehouse and logistics scheme in a bid to boost its property portfolio.
Scottish Friendly completes Canada Life pension book acquisition
Mutual Scottish Friendly has completed the acquisition of a back book of life and pension policies from financial services provider Canada Life.
Self-employed taking £115,000 workplace pensions shortfall
An individual who moves into self-employment after ten years work will miss out on an additional £115,300 in retirement funds after exiting their occupational pension scheme.
Trustees still unprotected and vulnerable to cyber risk
There is still no available guidance for trustees on how to incorporate cyber security risks in their investment and stewardship processes, according to NEST.
London CIV launches infrastructure fund
The £5.6bn London Collective Investment Vehicle (LCIV) has launched its first infrastructure fund which was seeded by six of the London Borough Pension Funds.
PPF reassures Mothercare pension scheme members
Members of the Mothercare pensions scheme can “be assured” that their savings will be protected after the collapse of the merchandiser’s UK business, says the Pension Protection Fund (PPF).
River and Mercantile positive on growth prospects
Fund house River and Mercantile (R&M) saw net flows of £1bn for the three months to 30 September 2019 thanks to strong investment performance across all divisions.
Pension tax concerns 'distracting' from crucial industry issues
Major industry concerns such as GMP equalisation are being left on the back burner as employers continue to grapple with the complexities of pensions tax, the Association of Consulting Actuaries says.
Pension savers recoup record amount of overpaid income tax
HM Revenue and Customs (HMRC) paid back over £54m in tax on pension withdrawals during the three months to 30 September – the highest quarterly amount since the introduction of Freedom and Choice in 2015.
Europe 'unloved and under-owned' as equity markets struggle
Increased certainty around Brexit deadlines and eventual terms could remove major overhang for European equity market investments, NN Investment Partners finds.
Pensions experts anticipate swift consolidation of DB schemes
The number of defined benefit (DB) schemes will fall in the next decade as superfunds begin to strengthen, pension professionals believe.
Womens' pension prospects dulled by 'reckless conservatism'
Researchers from Cass Business School and the University of Bristol have found that the tendency of women to be more risk-adverse than men is a major contributor to pension inequality in the UK.
DB schemes hunt for fairer endgame strategies
Defined benefit (DB) pension schemes are looking for untraditional ways to build endgame strategies in order to better balance member and employer needs, the Pensions Policy Institute (PPI) has found.
XPS positive on revenue growth
XPS Pensions Group has published early results for the six months to 30 September, growing revenues 8% as it attempts to return to a “modest” growth rate.
Greencoat acquires biomass plant for pension fund investment
Asset manager Greencoat Capital has signed an agreement to acquire a Rotherham biomass power plant in an investment on behalf of several pension fund clients.
Auto-enrolment closing the pensions gender gap, TPR reveals
Automatic enrolment (AE) has helped level the number of women saving into a workplace pension with the number of men, The Pensions Regulator (TPR) has said.
Broadstone buys BBS Consultants & Actuaries
Broadstone has acquired Bristol-based BBS Consultants & Actuaries for an undisclosed amount as it continues to expand its actuarial and consulting service.
Fiduciary mandates surge to £170bn despite CMA probe
The total number of mandates in the market rose 10% in the 12 months to June 2019 despite ongoing challenges stemming from the Competition and Markets Authority investigation into fiduciary management markets, KPMG finds.
Schroders to take over Woodford Patient Capital Trust by year-end
Schroder Investment Management will be taking over the Woodford Patient Capital Trust by the end of the year, with Tim Creed and Ben Wicks leading the team-based approach.
RPI changes raise volatility concerns for schemes over pension stability
Trustees and scheme sponsors should avoid significant pension actions until proposed changes to RPI inflation methodology become clearer, Lane Clark & Peacock says.
40,000 companies fined over auto-enrolment failures
More than 40,000 companies were issued fines for failing to meet auto-enrolment (AE) obligations in 2018, The Pensions Regulator (TPR) has confirmed.
Retirement planning a low priority for most, Sanlam warns
More than three quarters of adults have not set savings targets for retirement, according to Sanlam.
Top fund manager Denning quits Capital Group after BBC Panorama investigation
Mark Denning, who helped to run $300bn of assets at Capital Group, has resigned from his role after he was alleged to have secretly bought shares for his own benefit in some of the same companies as his funds.
Pension risk highlighted as UK system lags in global retirement rankings
The UK has failed to impress in an international analysis of pension systems due to serious concerns over sustainability.
NEST awards private credit mandate to BNP Paribas
Asset manager BNP Paribas has been awarded a private credit mandate by Nest following a competitive open tender.
Institutional investors plan £1trn divestment from fossil fuels over next decade
Global institutional investors plan to divest 15.6% of their portfolios from fossil fuels over the next ten years, almost tripling outflows of 5.7% planned for next year, as high-profile activism on climate change gathers pace.
OTS outlines demands for pension tax system overhaul
The Office of Tax Simplification (OTS) has called on the government to review its “complicated” pension tax measures and simplify engagement with the system.
LPGS pools launch climate and real estate funds
LGPS Central has launched a multi-factor equity fund with climate considerations core to its investment process.