UK - City watchdogs have relaxed rules to ease pressure on life assures. The Financial Services Authority says life assurers will no longer be forced to sell equities in a bid to meet the regulatory minimum margin (RMM).
The RMM forced insurance companies to keep assets equal to 104% of their liabilities – a rule that pushed many life offices to ditch equities as stock markets tumbled. Firms will now be able to apply for a waiver from the RMM rules.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.