Top stories this week include concern over proposals to force schemes to sign the Stewardship Code, the end of a six-and-a-half year legal wrangle, and four escalating fines from TPR.
1. Industry slams DWP plan to force Stewardship Code on schemes Two trade bodies have criticised a proposal to require pension schemes to comply with the Stewardship Code or explain why they have not....
The sponsoring employers of the UK’s largest pension schemes may have to put an additional £40-£45bn into their schemes over the next decade, Lane Clark & Peacock (LCP) warns.
Caroline Kurup explores the latest TPR guidance on superfund transfers and what scheme trustees should be considering
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
Much like when selling a house, DB plans need to tidy up before approaching the bulk annuity market, says David Ellis.