UK - The Pension Protection Fund (PPF) has launched its Long Term Risk Model, a system enabling it to calculate the many risks it could face in the years ahead.
The model, developed over a two year period, aims to help the PPF set a stable risk-based levy year-on-year to build stability and ensure that people get the compensation they are entitled to.
PPF chief executive Partha Dasgupta said: “The Long Term Risk Model should increase confidence in the PPF, it shows we are developing systems that will enable us to set a levy measured accurately against the risk we face in the years ahead.
The Model is based on “stochastic” modelling methods commonly used by insurance companies to estimate what assets and liabilities they have and assess how solvent they are.
HMRC has confirmed providers operating relief at source pension schemes can continue to collect automatic tax relief at a basic rate of 20% under new Scottish Income Tax rules.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.