Govt urged to suspend ETVs
The government should suspend the use of enhanced transfer value exercises until an urgent review into the practice has been completed, argues Fidelity.
Head of DC and workplace savings Julian Webb said the Department for Work and Pensions and The Pensions Regulator were right to prioritise the issue. "Quite rightly this area is being reviewed urgently...
More on Defined Benefit
Struggling DB schemes avoid putting extra cash pressure on sponsors
Defined benefit (DB) schemes are looking for alternatives to seeking additional cash contributions from sponsors to manage payouts in the wake of the Covid-19 market disruption, according to Willis Towers Watson (WTW).
PPF may seek second opinion on Laura Ashley collapse amid pension struggles
The Pension Protection Fund (PPF) will look to appoint a new administrator to oversee an investigation into the collapse of Laura Ashley, according to reports.
Covid-19 puts brakes on DB pension transfer activity
Down again from March
DB funding - April 2020: Deficit falls by £7bn, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the April 2020 estimates on the various measures…
Majority of sponsors have 'no need' to suspend contributions
The Society of Pension Professionals (SPP) estimates only 5-10% of scheme sponsors will suspend or reduce contributions during the coronavirus pandemic while majority have no need to alter their payment schedules.