This week’s top stories included the Universities Superannuation Scheme’s launch of a consultation on its 2020 valuation, while Pension Insurance Corporation Group’s adjusted profits fell by nearly three-quarters.
One in ten UK workers have paused their pension contributions during the Covid-19 pandemic with their absence from the defined contribution (DC) space bringing serious implications for the retirement landscape.
Complying with the government’s proposals for climate risk disclosure is an unnecessary burden on schemes which are being used as vehicles for social engineering, PP poll respondents say.
Trustees need to be given the choice to directly refuse pension transfers if the industry is to properly plug the proliferation of scams, the Work and Pensions Committee (WPC) has been told.
Close to two-thirds of industry respondents to a Professional Pensions poll agreed they would like to see flat-fee structures on low-value defined contribution (DC) pots scrapped.
The total assets under management (AUM) held by the world’s 300 largest pension funds has increased this year to reach $19.5trn (£14.8trn).
Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.
The former trustee and chief executive officer of Yateley Industries for the Disabled has been ordered to pay back £250,000 he stole from the charity’s pension scheme.
The Work and Pensions Committee (WPC) is hoping victims of pension fraud will respond to the call for input ahead of its much-anticipated inquiry reviewing the impact of the introduction of pension freedoms five years on.
This week’s top stories include the Marathon Service Limited Pension and Life Assurance Scheme’s £610m full buy-in with Rothesay Life, while XPS Pensions Group warned mature scheme deficits could double under The Pension Regulator’s ‘fast track’ rules....
The former trustee of a charity who defrauded a pension fund of £250,000 will appear in court today (4 September), one year after The Pensions Regulator (TPR) said it would seek a confiscation order for the funds’ return.
The Transparency Task Force (TTF) has questioned whether the Financial Conduct Authority (FCA) is “fit for purpose” following years of concern relating to the manner in which it exercises its investigative powers.
The Lothian Pension Fund has pledged to no longer supply funding through new bond or equity investments to companies not aligned with the Paris Agreement.
In this latest Pensions Buzz, we want to know whether you agree with calls for flat-fee structures to be scrapped on low-value defined contribution pension pots.
The data behind the pensions dashboard must be secure, transparent, and comprehensive enough to gain the trust of savers, the industry has said.
Norfolk County Council has appointed three firms to manage the administration and software provisions for its pension scheme.
This week’s top stories include the Universities Superannuation Scheme’s announcement of a delay to its valuation for 2020, while the government consulted on a proposal to force the largest schemes to publish their climate risk disclosures.
Three quarters of pension schemes believe they will be ready to join the pensions dashboard if they have two years to prepare, the Pensions and Lifetime Savings Association (PLSA) finds.
The defined contribution (DC) savings of young savers recovered most of their first quarter losses in the following three months, Isio has found.
The collapse of several long-established employers with large defined benefit (DB) schemes could vastly overtake calculations for a £20bn hit to the Pension Protection Fund (PPF), warns Lane Clark & Peacock (LCP).
While the Covid-19 crisis has made savers realise pensions are important, having immediate access to their funds is now equally important, says Cushon.
Formerly UK-centric Smart will launch in three new territories next year as part of an expansion following the close of its most recent funding round.
Complaints filed with ActionFraud show a total of £30.8m has been lost to pension scammers in the last three years, say The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA).
SEI is set to expand its enhanced chief investment officer (ECIO) offering to corporate defined benefit (DB) schemes in the UK.
Pensions schemes will face significant additional working costs reaching into the millions of pounds to prepare their data for the pensions dashboard, according to Lane Clark & Peacock (LCP).
The publication date of the Universities Superannuation Scheme’s (USS) 2020 valuation has been pushed back until September.
Extinction Rebellion protesters will rally outside the offices of two Somerset councils this week over the council pension scheme’s allocation to fossil fuels.
This week’s top stories included the launch of the #100blackinterns project, while the Siemens Benefits Scheme agreed a £530m buy-in with Legal & General.
Consultants have warned that cost constraints are holding defined contribution (DC) schemes back, responding to a Department for Work and Pensions’ (DWP) consultation on the effectiveness of costs, charges and transparency measures.
The premise of auto-enrolment (AE) as a tool to boost both short- and long-term financial resilience will face its first true test as the effects of Covid-19 continue to play out, says Nest.
Independent professional trustee services provider Dalriada saw a 13.2% increase in revenue for the 12 months to 31 March 2020.
Understanding of topics that have traditionally been the focus of Local Government Pension Schemes (LGPS) fund committees is high, Hymans Robertson has found.
The Continuous Mortality Investigation (CMI) has labelled statistics which show two months of deaths below 2019 levels as “modest”, warning of high excess figures.
The impact of the coronavirus pandemic on pension savers in Britain is continuing into the second half of the year, heightening worry around funding retirement and saving adequately.
The employees at Metropolitan Thames Valley have been rolled into a single defined contribution (DC) scheme within the Aviva Master Trust solution.
Red tape is leaving thousands of pension scheme savers invested in low-returning investments, according to Lane Clark & Peacock (LCP).
More than 80 major fund management firms will come together to offer a range of investment internships to black graduates.
The Family Building Society’s 250-member defined benefit (DB) scheme has transferred into TPT Retirement Solutions’ master trust, DB Complete.
A number of regulatory and economic factors including a tougher line on scheme funding from The Pensions Regulator (TPR) means interest in the use of contingent strategies will grow, Lane Clark & Peacock (LCP) finds.
This week’s top stories included the Littlewoods Pension Scheme’s £930m buy-in with Rothesay life, while The Pension Superfund named its new asset and liability management committee.
The true level of flexibility for defined benefit (DB) schemes that take the ‘bespoke’ option laid out in the proposed DB funding code needs further clarification, the industry has said.
The economic impact of coronavirus is unlikely to overshadow the Work and Pensions Committee’s (WPC) inquiry into the success of pension freedoms, the industry believes.
Over a third of defined benefit (DB) schemes with valuations between September 2017 and September 2018 were in surplus, according to data from The Pensions Regulator (TPR).
More than half of respondents to a Professional Pensions survey would like to see the government launch a small pots taskforce to stop them undermining the success of auto-enrolment (AE).
Halal investment specialist Wahed Invest and independent pension provider Options UK will launch a fully-diversified Halal Workplace Pension (HWP) following burgeoning demand from British Muslims for Sharia-compatible retirement products.
This week’s top stories included Aon findings that the number of defined benefit schemes employing a sole trustee model is expected to double by 2025, while Scottish Widows invested £2bn as the inaugural investor in BlackRock’s new climate fund.
Fulcrum Asset Management is set to launch the first active diversified global climate-aligned equity fund.
The majority of defined benefit (DB) schemes have taken no material action to change their investment strategy or journey plan during the coronavirus pandemic, say Lane Clark & Peacock (LCP).