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      Defined Benefit Consolidation Conference

      Professional Pensions is hosting this concise digital event on the 25th March to provide a crucial update on where the current regulation stands on DB Consolidators, assess the different models available, what the expected funding levels are and the governance requirements. This event will be a combination of short presentations followed by live Q&A’s with our expert speakers allowing plenty of time to answer your questions.

      • Date: 25 Mar 2021
      • Digital Conference
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      Defined Contribution Conference

      Professional Pensions Defined Contribution virtual event, hopes to take stock of the last year, and ask the important questions; are members saving enough and have we improved the member journey at retirement? This two part digital event will provide you with the latest thinking and innovation in the DC market during our snappy 15 minute presentations, with plenty of time to ask questions during our live speaker Q&A.

      • Date: 20 Apr 2021
      • Virtual Conference, Virtual Conference
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      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
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      UK Pensions Awards 2021

      The UK Pensions Awards – now in their 24th year – remain the industry's most prestigious accolades. They shine the light on excellence and recognise the advisers, providers and investment managers that offer the highest level of innovation, performance and service to occupational pension schemes and their members, and have done the most to improve this over the past year.

      • Date: 14 Sep 2021
      • London
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  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

      Download
      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

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Hope William-Smith

News Editor

Hope William-Smith is the News Editor at Professional Pensions. She joined the magazine in 2019 from Money Marketing where she covered investment, pensions, and financial advice news on the retail side of the market. Hope started work as a cadet at The International Business Times in Sydney and was Features Editor at FEFundInfo in Australia before relocating to the UK. She remains interested in the retirement, pensions and superannuation space in Australia and its similarities and differences to the UK market. Hope was shortlisted for Headline Money’s Rising Star of the Year Award as well as the Financial Health and Life Insurance Journalist of the Year Award in 2019.She graduated from the University of New South Wales in 2015 with a Master of Law, Media and Journalism. Prior to that, she completed a BA in Government and International Political Relations at the University of Sydney.

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Articles by Hope William-Smith

Royal London pension sales feel Covid bite
Royal London pension sales feel Covid bite

Life and pensions new business sales at Royal London were 20% lower in 2020 due to the impact of national lockdowns on the UK economy.

  • Industry
  • 05 March 2021
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories included the chancellor’s freezing of the lifetime allowance in the Spring Budget, along with the industry’s unfavourable response to the move.

  • Industry
  • 05 March 2021
KPMG employer covenant team acquired by private equity firm H.I.G Europe
KPMG employer covenant team acquired by private equity firm H.I.G Europe

The restructuring division of KPMG, including its employer covenant team, will be acquired by H.I.G Europe.

  • Industry
  • 04 March 2021
DB sponsors could defer contributions for higher tax relief under Budget measures
DB sponsors could defer contributions for higher tax relief under Budget measures

Changes to corporation tax announced in the Spring Budget could see defined benefit (DB) scheme sponsors defer contributions in favour of tax relief, according to Barnett Waddingham.

  • Defined Benefit
  • 04 March 2021
Spring Budget 2021: Icy response to lifetime allowance freeze
Spring Budget 2021: Icy response to lifetime allowance freeze

The industry has provided a predominantly negative response to the confirmation today that the lifetime allowance will be frozen at £1,073,100 until April 2026.

  • Regulation
  • 03 March 2021
Spring Budget 2021: Lifetime allowance frozen until 2026
Spring Budget 2021: Lifetime allowance frozen until 2026

Chancellor Rishi Sunak has confirmed that the pensions lifetime allowance will be frozen at its current rate until 2026.

  • Industry
  • 03 March 2021
CMI: Fall in weekly excess deaths continues
CMI: Fall in weekly excess deaths continues

The latest mortality monitor update from the Continuous Mortality Investigation (CMI) shows excess death rates are continuing to fall as the UK passes through the second wave of the Covid-19 pandemic.

  • Industry
  • 03 March 2021
Net-zero Britain target creates anchor for £350bn of investment
Net-zero Britain target creates anchor for £350bn of investment

Up to £350bn of investible assets could be found within the energy sector over the next 30 years as investment in opportunities to decarbonise the economy by 2050 increases, Lane Clark & Peacock (LCP) finds.

  • Investment
  • 02 March 2021
PP Monthly Digest: February 2021
PP Monthly Digest: February 2021

Here it is, our monthly digest of the most important articles Professional Pensions has written and published over the last month, along with some contextual notes.

  • Industry
  • 01 March 2021
Longevity assumptions retain stability despite Covid
Longevity assumptions retain stability despite Covid

The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.

  • Defined Benefit
  • 26 February 2021
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories included a legal challenge over the government’s Retail Prices Index realignment, while British Airwards deferred £450m in deficit recovery contributions.

  • Industry
  • 26 February 2021
Chancellor Sunak 'likely' to freeze lifetime allowance
Chancellor Sunak 'likely' to freeze lifetime allowance

Chancellor Rishi Sunak has plans to freeze the lifetime allowance for the rest of the current parliament in a "stealth tax" on the wealthy, according to reports.

  • Regulation
  • 26 February 2021
PLSA: Most pension tax reforms will leave things worse and schemes at risk
PLSA: Most pension tax reforms will leave things worse and schemes at risk

Most reform options for pension tax will leave many savers with smaller pots and cause substantially more costs for schemes and employers, says the Pensions and Lifetime Savings Association (PLSA).

  • Industry
  • 25 February 2021
CMI: Excess deaths beginning to fall
CMI: Excess deaths beginning to fall

The number of deaths registered in England and Wales for week six of 2021 was 27% higher than expected, down from 52% higher than expected in week five of the new year.

  • Industry
  • 24 February 2021
Pension freedoms introduced too fast with safeguards passed over
Pension freedoms introduced too fast with safeguards passed over

Corners were cut in the 2015 introduction of pension freedoms which have left pension savers vulnerable and suffering, according to Work and Pensions Committee (WPC) chairman Stephen Timms.

  • Industry
  • 24 February 2021
Local government councils still holding £10bn investment in fossil fuels
Local government councils still holding £10bn investment in fossil fuels

UK local government pension funds held £9.9bn worth of investments in fossil fuel companies in the 2019/20 year despite promoting moves towards greener investing, a freedom of information (FoI) request shows.

  • Investment
  • 23 February 2021
TPR publishes full details of charity pension trustee fraud case
TPR publishes full details of charity pension trustee fraud case

The Pensions Regulator (TPR) has published a regulatory intervention report on the case of jailed former charity for the disabled trustee and chief executive Patrick McLarry.

  • Law and Regulation
  • 23 February 2021
Search for new TPO ombudsman begins
Search for new TPO ombudsman begins

The Department for Work and Pensions (DWP) has opened applications at The Pensions Ombudsman (TPO) to replace the outgoing Anthony Arter.

  • Appointments
  • 23 February 2021
Exclusive: ACA calls for policy reform on AE, investments, and pensions tax
Exclusive: ACA calls for policy reform on AE, investments, and pensions tax

The Association of Consulting Actuaries (ACA) has set out six key reform areas it is calling on the government to address before the end of the current parliament.

  • Regulation
  • 22 February 2021
HSBC increases AUM on DB pensions risk platform
HSBC increases AUM on DB pensions risk platform

HSBC will increase its assets under management on Moody’s Analytics’ defined benefit (DB) software platform, expanding its use from six to 15 countries.

  • Admin / Technology
  • 19 February 2021
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories included the release of new guidance from the GMP Equalisation Working Group, while Zedra acquired pensions executive support provider Inside Pensions.

  • Industry
  • 19 February 2021
TPR flexes powers after 8,200 quarterly AE breach increase
TPR flexes powers after 8,200 quarterly AE breach increase

Enforcement activity carried out by The Pensions Regulator (TPR) between October and December 2020 saw auto-enrolment (AE) powers used on a total of 24,799 occasions, up 8,200 from the instances in Q3.

  • Regulation
  • 18 February 2021
World's largest pension markets show Covid resilience; UK drops to third place
World's largest pension markets show Covid resilience; UK drops to third place

The UK recorded a compound annual growth rate of 4.6% in the last decade and is now the third largest global pension market, having slipped behind Japan during a difficult 2020.

  • Industry
  • 17 February 2021
CMI: Excess deaths surpass 100,000
CMI: Excess deaths surpass 100,000

Excess deaths in week five of 2021 were 5,526 higher than if mortality rates had been the same in 2019, bringing the total number since the start of the pandemic to more than 100,000.

  • Industry
  • 17 February 2021
DB schemes need own journeys to net-zero commitments, industry says
DB schemes need own journeys to net-zero commitments, industry says

Four in five (81%) industry professionals believe defined benefit (DB) schemes should choose their own framework and pathway to net-zero rather than following set prescriptions.

  • Investment
  • 16 February 2021
Finalisation of net pay review vital in Budget, Now Pensions says
Finalisation of net pay review vital in Budget, Now Pensions says

Chancellor Rishi Sunak must conclude the net pay review in the upcoming Budget to support the retirement income of low-paid workers, Now Pensions says.

  • Law and Regulation
  • 15 February 2021
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories included the government’s announcement that the normal minimum pensions age will rise to 57 in 2028, while PwC research suggested lagging remuneration and lack of diversity among trustees.

  • Industry
  • 12 February 2021
Cushon eyes more master trusts after Salvus acquisition
Cushon eyes more master trusts after Salvus acquisition

Workplace savings fintech Cushon has expanded its acquisition target to include pension-focused businesses as well as master trusts.

  • Defined Contribution
  • 11 February 2021
CMI: High death figure trend closes out January
CMI: High death figure trend closes out January

Excess deaths across the UK remained 50% higher than normal in the last week of January as Covid-19 continues to significantly impact figures.

  • Industry
  • 10 February 2021
PGIM Real Estate completes $30bn worth of transactions in 2020
PGIM Real Estate completes $30bn worth of transactions in 2020

Around $30bn (£22.7bn) in transactions were completed worldwide by PGIM Real Estate last year despite market concerns related to the coronavirus pandemic.

  • Investment
  • 09 February 2021
Cushon names three new trustee executives
Cushon names three new trustee executives

Dianne Day and Andrew Warwick-Thompson have been appointed as independent directors at workplace savings business Cushon.

  • Appointments
  • 08 February 2021
Scottish Widows targets net-zero across £170bn fund range by 2050
Scottish Widows targets net-zero across £170bn fund range by 2050

Scottish Widows will aim to halve the carbon footprint of its investments by 2030 on the way to achieving net-zero across its entire portfolio of investments by 2050.

  • Investment
  • 08 February 2021
No let up for NHS doctors on pension tax tribulations
No let up for NHS doctors on pension tax tribulations

The government has drawn a line under talk of broad reform of the pension system for higher-paid NHS workers, such as doctors who face high tax charges, opting instead to build on flexibilities introduced last year.

  • Regulation
  • 05 February 2021
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories included Mercer’s closure of five offices and Hymans Robertson’s acquisition of Bath Actuarial Consulting.

  • Industry
  • 05 February 2021
CMI: Deaths still 50% higher than normal figures
CMI: Deaths still 50% higher than normal figures

Excess deaths across the UK are continuing to rise as the coronavirus pandemic persists, analysis from the Continuous Mortality Investigation (CMI) shows.

  • Industry
  • 03 February 2021
ESG Watch: PIC invests £120m in solar bonds; Aviva Investors launches climate escalation programme; Federated Hermes outlines climate-centric engagement plan
ESG Watch: PIC invests £120m in solar bonds; Aviva Investors launches climate escalation programme; Federated Hermes outlines climate-centric engagement plan

Professional Pensions rounds up some of the latest ESG and climate news from across the industry.

  • Industry
  • 02 February 2021
PP Monthly Digest: January 2021
PP Monthly Digest: January 2021

Here it is, our monthly digest of the most important pension articles Professional Pensions has written and published over the last month, along with some contextual notes.

  • Industry
  • 01 February 2021
Exclusive: DB sponsor profit warnings trend continues unwelcome escalation
Exclusive: DB sponsor profit warnings trend continues unwelcome escalation

Defined benefit (DB) pension scheme sponsors issued 249 profit warnings last year, 90% of which were specifically related to the coronavirus pandemic, according to EY.

  • Defined Benefit
  • 01 February 2021
Five stories you may have missed this week
Five stories you may have missed this week

This week’s top stories included the Legal & General Group UK Senior Pension Scheme’s £400m assured payment policy deal, and the Pensions and Lifetime Savings Association appointed six members to its policy board.

  • Industry
  • 29 January 2021
OTS pension tax proposals risk further hike in costs to government
OTS pension tax proposals risk further hike in costs to government

Proposals put forward by the Office for Tax Simplification (OTS) to pass pension data directly to HMRC will likely help savers but add millions more to the cost of pension tax relief, Lane Clark & Peacock (LCP) says.

  • Industry
  • 29 January 2021
Michael O'Higgins to step down as Local Pensions Partnership chairman
Michael O'Higgins to step down as Local Pensions Partnership chairman

Local Pensions Partnership (LPP) chairman Michael O’Higgins will step down from his position in summer following a restructure.

  • Appointments
  • 28 January 2021
Exclusive: Trustees push schemes for tech support ahead of new online era
Exclusive: Trustees push schemes for tech support ahead of new online era

Defined benefit (DB) scheme trustees are looking to their schemes to provide them with better technological support, with eight in ten agreeing ad-hoc and online meetings will permanently replace the pre-Covid quarterly meeting cycle.

  • Defined Benefit
  • 28 January 2021
Government outlines climate risk governance and TCFD reporting changes
Government outlines climate risk governance and TCFD reporting changes

The government has outlined updated requirements for schemes in a new consultation confirming Task Force on Climate-related Financial Disclosures (TCFD)-aligned disclosures will be mandatory across the board by 2025.

  • Regulation
  • 27 January 2021
CMI: 5,000 excess deaths for week two of 2021
CMI: 5,000 excess deaths for week two of 2021

The number of excess deaths registered in England and Wales in the second week of 2021 is around 5,000, according to the Continuous Mortality Investigation (CMI).

  • Industry
  • 27 January 2021
PLSA unveils six policy board appointments
PLSA unveils six policy board appointments

The Pensions and Lifetime Savings Association (PLSA) has appointed six members to its policy board as it lays down a defined benefit (DB) funding-centric priority list for 2021.

  • Appointments
  • 26 January 2021
Eight schemes write to Number 10 to urge more action on climate change
Eight schemes write to Number 10 to urge more action on climate change

Eight major pension fund executives have called on prime minister Boris Johnson and the government to allow the financial sector to contribute to the UK’s decarbonisation efforts ahead of the COP26 summit in Glasgow.

  • Industry
  • 25 January 2021
Think tank floats Aviva-backed lower income-focused retirement target framework
Think tank floats Aviva-backed lower income-focused retirement target framework

A pension benchmark for future living standards is necessary and feasible if enough attention is given to formulating an accreditation that will work for both employers and employees, the Resolution Foundation says.

  • Industry
  • 25 January 2021
PP Monthly Digest: December 2020
PP Monthly Digest: December 2020

Here it is, our monthly digest of the most important pension articles Professional Pensions has written and published over the last month, along with some contextual notes.

  • Industry
  • 31 December 2020
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