UK/EUROPE - British MEPs have urged the European parliament to block amendments to its pensions directive as they would impose undue costs on UK pension funds.
The proposals – contained in a report by Austrian MEP Othmar Kara – would be forced to provide enhanced disability and insurance cover and greater provision for spouses.
But analysts fear the amendments would add millions of pounds to the costs of administering UK pension schemes.
The NAPF said it had supported the original compromise directive, but would fight any moves to amend it which, it said, would cause “major problems” for UK pension schemes.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.