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.

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.

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

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.

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.

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.

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.

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.

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.

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.