The coronavirus pandemic is unlikely to curb pension scheme enthusiasm for buy-ins and buyouts, says Hymans Robertson.
The actuarial valuations of at least a quarter of UK defined benefit (DB) pension schemes are likely to have been “badly impacted” by coronavirus-related disruption to markets, says Aon.
Using the flexibility offered by pension freedoms to access pensions early without considering long-term consequences will leave savers struggling to make ends meet, the Association of British Insurers (ABI) has warned.
This week’s top stories included the Smurfit Kappa UK Pension Fund’s completion of a £1.2bn fiduciary and liability-driven investment deal with River and Mercantile, and figures showing pension transfer activity has dropped to its lowest level since 2014....
Pension transfer activity has dropped to the lowest level since the introduction of the pension freedoms, research by Lane Clark & Peacock (LCP) reveals.
Lane Clark & Peacock (LCP) has said it is focussing on riding out short-term uncertainty and has promoted 14 partners in a bid to contribute to the sustainable growth of the business.
This week’s top stories included the Financial Conduct Authority saying there is a “significant risk of harm” in the long-term savings market caused by pension freedoms, and Standard Life and Zurich publishing their latest independent governance committee...
Pension schemes should take note of how the companies in which they invest respond to the ongoing threat of coronavirus and be prepared to speak up if the actions taken do not align with their long-term investment prospects, the Pensions and Lifetime...
Pension schemes should “stick to their convictions” and long-term policies in the face of market falls caused by Covid-19, Aon says.
The Money and Pensions Service (Maps) has published its first full report on progress on the pensions dashboard so far and has flagged “significant” delivery challenges in the face of the coronavirus pandemic.
Jonathan Reynolds named shadow work and pensions secretary; pledges 'serious long-term thinking' on pensions
The shadow economic secretary Jonathan Reynolds has been named as shadow secretary for work and pensions under new Labour leader, Keir Starmer.
Mercer has appointed BESTrustees’ Lisa Mundy as a representative to the Mercer Master Trust board.
Legal & General has been providing strong value for money to the members of its workplace pension business, according to its Independent Governance Committee (IGC).
This week’s top stories include The People’s Pension provider B&CE furloughing 140 staff in response to pressures from the coronavirus, while the UK’s finance regulators called on pension savers to stay calm and avoid making rash decisions regarding savings....
Retirees looking to access additional income from their defined benefit (DB) scheme during the Covid-19 crisis will be victims of a “capacity crunch” as suitable financial advisers flee the market, according to Barnett Waddingham.
The Treasury will aim to plug the growing financial holes caused by Covid-19 by selling off £45bn of bonds during April.
The UK’s pension regulators have called on pension savers to stay calm as fears over the impact of the coronavirus pandemic on markets and personal finances may lead many to take damaging actions.
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.