• Home
  • Admin/Tech
  • Benefits
  • Buzz
  • DB
  • DC
  • Diversity
  • Investment
  • Law & regulation
  • Risk reduction
  • Events
  • Whitepapers
  • Spotlights
  • Digital Edition
  • PPTV
  • Newsletters
  • Sign in
  •  
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
    •  

      You are currently accessing ProfessionalPensions via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0) 1858 438800

      Email: [email protected]

      • Sign in
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
    • YouTube
  • Register
  • Subscribe
  • Events
    • Upcoming events
      event logo
      Webinar: Using passion for ESG to unleash member engagement

      This webinar will look at how pension schemes can harness their members’ interest in ESG to engage them more broadly with their pensions. In particular, it will look at exclusive research showing how members are reacting to ESG; their propensity to act versus their actual behaviour; and the expectations they have of providers in this regard.

      • Date: 26 Jan 2021
      • Webinar
      event logo
      Investment Conference

      This two part Investment Conference will bring you the latest updates from economists, asset managers and pension consultants. We will be taking a look at the outlook for the 2021 economy, alternatives, cashflow strategies and global equity markets to name a few, assessing how they fared through the volatility and what we can expect for the year ahead.

      • Date: 27 Jan 2021
      • Digital Conference
      event logo
      Webinar: What to put on your GMP Equalisation project roadmap for 2021

      This webinar will bring together views from actuaries, lawyers, administrators, trustees and data experts to look at the pragmatic, collaborative solutions that are open to schemes to solve the GMP equalisation challenges in 2021. It will assess the individual challenges schemes face with equalisations and provide some practical options that are available to resolve these issues.

      • Date: 02 Feb 2021
      • Webinar
      event logo
      Webinar: Will the world return to normal in 2021?

      In this webinar, PP editor Jonathan Stapleton will be joined by BMO’s chief economist Steven Bell and director of fiduciary management, Christy Jesudasan, alongside PTL trustee director Melanie Cusack and Isio’s head of fiduciary management oversight Paula Champion to discuss the significant impact of these themes on the pensions sector.

      • Date: 04 Feb 2021
      • Webinar
      View all events
      Follow our Professional Pension Events

      Sign up to receive email alerts about our events

      Sign up

  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

      Download
      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

      Download
      Find whitepapers
      Search by title or subject area
      View all whitepapers
  • Spotlights
  • Digital Edition
Professional Pensions
Professional Pensions
  • Home
  • Admin/Tech
  • Benefits
  • Buzz
  • DB
  • DC
  • Diversity
  • Investment
  • Law & regulation
  • Risk reduction
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
  •  

    You are currently accessing ProfessionalPensions via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0) 1858 438800

    Email: [email protected]

    • Sign in
  • Industry

What happened in pensions in 2016: Part Four

BA and its trustees returned to court to solve a long running dispute.
BA and its trustees returned to court to solve a long running dispute.
  • PP Online
  • 30 December 2016
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
0 Comments

In the fourth and final part of our pensions timeline PP Online looks at what happened in pensions between October and December.

October

26 October - British Airways and the trustees of its pension scheme return to court. This long running dispute centres on a discretionary 0.2% increase in benefits for the 2013/14 financial year granted by trustees of the Airways Pension Scheme (APS).

Related articles

  • What will the real estate sector look like after Covid-19?
  • Is mediation set to become the new normal for pension disputes?
  • Navigating covenant and ESG in 2021 - what does the environment look like?
  • Pension scheme cyber risk - the key challenges and who is responsible

November

9 November - Donald Trump elected US President.

10 November - Tata Steel UK's intention to close the British Steel Pension Scheme (BSPS) to future accrual was "raised" in discussions with unions, according to a lawyer close to the matter.

It is understood Tata Steel UK has been looking to answer the pension questions as soon as possible so it can take part in a joint venture with ThyssenKrupp in Europe.

14 November -PP reports that L&G has carried out the largest pension buyout of 2016. The £1.1bn deal covers over 11,000 members of the Vickers Group Pension Scheme which is part of the Rolls-Royce Group.

18 November -The Financial Conduct Authority (FCA) announces it is to consult on whether to make a market investigation reference on the investment consultancy market to the Competition and Markets Authority.

The call, which is the first time the FCA has exercised this power, was contained in the interim findings of the regulator's Asset Management Market Study.  

23 November - Chancellor Philip Hammond uses his first Autumn Statement to restrict salary sacrifice. Although Hammond did not specify exactly what benefits would be included in the move, he said pensions, childcare vouchers, cycle to work schemes and ultra-low emission cars (those with CO2 emissions of up to 75g/km) would be exempted from these changes.

24 November - PP reports there is an eight month backlog to process guaranteed minimum pension data at HM Revenue and Customs according to Hymans Robertson.



December

1 December - Richard Harrington confirms the DWP will issue a green paper on the future of defined benefit schemes in early 2017.


7 December - PP reports that Tata Steel UK has agreed with unions to start consulting on closing the British Steel Pension Scheme and replacing it with a "competitive" defined contribution arrangement.



21 December - The Work and Pensions Committee calls on the government to consult on giving the regulator new enforcement powers to avoid another British Home Stores disaster.

In a report about the governance of defined benefit schemes, MPs said the Pension Regulator should be able to impose more punitive fines on sponsors and be nimbler to intervene more effectively in tricky cases.

 

 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Industry
  • British Airways
  • Donald Trump
  • Tata Steel UK
  • L&G
  • buyout
  • FCA
  • consultant
  • GMP
  • HMRC

More on Industry

The Cabinet Office has appointed NTT Data to help with the Royal Mail Statutory Pension Scheme
Tender Watch: GMC scheme reappoints Aon; Homes England hires Hymans; Civil Service appoints NTT Data for CSPS and RMSPS schemes

Professional Pensions rounds up some of the latest tender awards from across the industry.

  • Industry
  • 21 January 2021
The report suggests considering specialised training needs for the role of chair
IFoA makes recommendations for improving pension trustee judgement and decision making

The Institute and Faculty of Actuaries’ (IFoA) Actuarial Research Centre (ARC) has published a report considering the judgement and decision making by pension trustees.

  • Industry
  • 21 January 2021
Is TPR's aproach to the DB funding code correct?
Have your say: Is TPR's approach to the DB funding code the correct one?

In this week’s Pensions Buzz survey we want to know whether you agree The Pensions Regulator’s approach to the defined benefit (DB) funding code is the correct one.

  • Industry
  • 19 January 2021
ICG will own the overall majority of Broadstone following the acquisition
Livingbridge sells Broadstone to Intermediate Capital Group

Broadstone has been sold by Livingbridge to Intermediate Capital Group (ICG) for an undisclosed sum.

  • Industry
  • 19 January 2021
Swales: Helping trustees to contextualise the approaches of asset managers
Exclusive: Mobius Life launches ESG reporting service

Mobius Life has launched a service to provide pension schemes with a report which collates asset managers’ ESG themes to help trustees complete their annual implementation statements.

  • Industry
  • 19 January 2021
blog comments powered by Disqus
Back to Top

Most read

Trustees will need to be corporate finance experts under new TPR powers
Trustees will need to be corporate finance experts under new TPR powers
Livingbridge sells Broadstone to Intermediate Capital Group
Livingbridge sells Broadstone to Intermediate Capital Group
Pension Schemes Bill set for final debate next week
Pension Schemes Bill set for final debate next week
Pension Schemes Bill gets final approval and waits for Royal Assent
Pension Schemes Bill gets final approval and waits for Royal Assent
Industry Voice: The tipping point for UK pension schemes
Industry Voice: The tipping point for UK pension schemes
Trustpilot

 

  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters
  • YouTube

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading