UK - The cost of introducing investment strategy as a separate risk factor would be disproportionate to the 3% reallocation of levy it would lead to, the Pension Protection Fund (PPF) has found.
In its consultation document on the issue, the PPF revealed that due to broad similarity in pension schemes’ investment strategies, only around 3% of the levy would be reallocated if investment strategy were to be included as a separate risk factor.
Due to this, the PPF claimed the cost to pension schemes would be disproportionate.
The initial view therefore outlined it was unlikely for an investment risk factor to be introduced into the risk based levy. However, the PPF said it will continue to monitor key trends that affect the impact of investment risk on the risks individual pension schemes pose to the it.
The consultation, which began today, will run until 29 January 2007.
Last Friday, the PPF began making its first direct payments to UK pensioners with 46 retirees from three pension schemes receiving PPF compensation on the day.
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.