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.

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.

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.

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

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.

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.

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).

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.

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.

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.