Defined benefit (DB) scheme trustees should be open to employer requests to reduce or suspend deficit recovery contributions (DRCs) if there is a good reason to do so, The Pensions Regulator (TPR) has said.
The Pensions Regulator (TPR) has temporarily relaxed the timeframe for schemes which need to report late payments from employers for workplace pension schemes.
A £1.2bn global investment-grade corporate bond fund has been launched by LGPS Central with four initial investors.
Furloughed workers will continue to receive pension contributions under the government’s coronavirus job retention scheme, HM Revenue & Customs (HMRC) has confirmed.
The Financial Conduct Authority (FCA) has postponed its decision on whether to ban contingent charging on defined benefit (DB) transfers by up to six months.
Millions of public sector workers will be able to choose whether their pension provision should be accrued under legacy or reformed schemes under government plans announced yesterday.
The fall in pricing of credit assets due to Covid-19 has made bulk annuities more affordable for schemes with significant gilt holdings, according to XPS Pensions.
Pension scheme trustees are relying too much on their advisers to give a holistic view of any governance challenges their scheme may be facing, says RSM.
The Parliamentary Contribution Pension Fund has been criticised for continuing to invest in fossil-fuel heavy companies despite a push into renewable energies.
Pensions & Investment Research Consultants (PIRC) has urged companies to restrict executive pay in response to the coronavirus crisis.
The Pensions Regulator (TPR) must adopt a “pragmatic” approach to the 15% of UK schemes that have valuation dates within the next three weeks, Aon has said.
The government has said it will “do whatever it takes” to support businesses through the Covid-19 coronavirus crisis, leading to speculation that there could be a short-term change in auto-enrolment (AE) policy.
The trustees of the £2bn Plumbing and Mechanical Services (UK) Industry Pension Scheme are seeking court approval to use scheme funds in potential upcoming legal battles.
The government has postponed changes to IR35 tax rules until 2021 to relieve the pressure on businesses during the coronavirus crisis, just a week after the Budget confirmed they would go ahead.
The Pensions Regulator (TPR) has told ITV and four connected firms that they must deliver a future funding plan for the Box Clever Group Pension Scheme within six months.
The Laura Ashley Retirement Benefits Scheme is expected to enter Pension Protection Fund (PPF) assessment after the textile designer filed for administration today.
The industry has rejected the need for multiple professional trustee accreditation regimes after the Pensions Management Institute and Association of Professional Pension Trustees launched rival frameworks.
RPMI Railpen has agreed to acquire 90% of the Carraig Gheal Wind Farm from GreenPower International.
Defined benefit (DB) consolidator Clara is in talks over a £200m fundraising exercise, PP understands.
Another £1.2bn of defined benefit (DB) scheme liabilities were insured by Just Group last year, according to its preliminary full-year results.
Cross-industry task force issues guidance on stricter climate-related disclosures for pension schemes
A consultation has been launched on guidance to help schemes get to grips with assessing, managing, and reporting climate-related risks in-line with Task Force on Climate-related Financial Disclosures (TCFD).
The government will raise the two tapered annual allowance thresholds by £90,000 in a bid to reduce the tax impact on high-earning NHS staff.
The Bank of England’s decision to cut the base rate by 50 basis points (bps) will prove challenging for both pension schemes and retirees, the industry warns.
Sackers has published its fourth guide for trustees on ESG and climate change-related risks, designed to help compliance with upcoming regulatory requirements.
Guy Opperman has now served as pensions and financial inclusion minister for 1,000 days in a tenure marked by myriad major changes to the pensions landscape.
Aon has confirmed it will buy Willis Towers Watson in a $30bn (£23bn) all-share deal, becoming the UK's largest pension consulting firm.
Willis Towers Watson's GB head of retirement speaks to James Phillips about changing DB regulation, trustee power, and a refocus on DC
Legal & General (L&G) completed 28 bulk annuity transactions with UK pension schemes over the course of 2019, its annual report reveals.
A two-track approach to DB funding valuations is expected to improve regulatory compliance while maintaining a level of scheme-specific flexibility where needed. James Phillips looks at some of the proposals
The Pensions Regulator (TPR) has set out plans for twin-track defined benefit (DB) funding rules mixing clearer regulatory expectations with scheme-specific flexibility.
The Xylem UK Pension Plan has confirmed a £255m buy-in transaction with Rothesay Life in the insurer’s first deal of 2020.
Regulatory approval has been granted to Redington for private equity backing from Phoenix Equity Partners.
Life expectancy grew by less than a year for both men and women in the last ten years, with health inequalities widening at the same time, the Institute of Health Equality has concluded.
Scottish Widows completed five bulk annuity transactions in 2019, with liabilities insured exceeding £2bn.
PPF head of investment strategy Ian Scott tells James Phillips about the fund’s in-sourcing programme, recruitment, and investment risk management.
The Co-operative Pension Scheme (Pace) has agreed a £1bn buy-in with Pension Insurance Corporation (PIC), insuring benefits for around 7,000 members.
Chancellor of the Exchequer Rishi Sunak has confirmed the government will go ahead with its Budget on 11 March, despite Sajid Javid’s resignation.
The University and College Union (UCU) has announced a further 14 days of strike action at 74 UK universities in a continuing dispute about pensions and pay.
Scottish health secretary Jeane Freeman has written to chancellor Sajid Javid demanding he find a solution for heavily-taxed senior NHS workers in his upcoming Budget.
Former LGPS Central chief executive Andrew Warwick-Thompson has joined Capital Cranfield as a professional trustee.
The Institute and Faculty of Actuaries (IFoA) has launched an investigation into the increasing transfer of risks to consumers, with a particular focus on defined contribution (DC) pensions.
Former pensions minister Stephen Timms has been elected chairman of the influential Work and Pensions Committee (WPC).
The Co-operative Pension Scheme, known as Pace, has completed a £1bn buy-in with Aviva in the first announced bulk annuity deal of 2020.
The pension schemes bill has passed its second reading in the House of Lords, despite questions over the breadth of government powers.
Three Lloyds Banking Group pension schemes have transferred £10bn of longevity risk to Pacific Life Re in the second-largest longevity swap ever.
Pension Insurance Corporation (PIC) insured £7.2bn of scheme liabilities over the course of 2019, recording more new business than in any year prior.
Caroline Siarkiewicz has been appointed as chief executive of the Money and Pensions Service (Maps) after seven months in the position on a temporary basis.
The UK will leave the EU on 31 January, Professional Pensions’ expert advisory panel tells James Phillips what pension schemes should now be thinking about.