Top stories online this week include the fallout from'Black Monday', and PP's investment awards.
The ‘Black Monday' stock market crash drove the value of defined benefit (DB) pension scheme deficits up by as much as £30bn in a single day, according to analysis.
Here they are. The shortlists for the Professional Pensions Investment Awards (PPIA) 2015.
The ‘Black Monday' stock market turmoil on 24 August saw the FTSE 100 index plummet 14% below its peak of almost 7,000 points in February.
Pension transfer requests out of defined benefit (DB) schemes doubled after the relaxation of defined contribution (DC) retirement processes, according to research from one provider.
Former Standard Life head of workplace proposition Ann Flynn has joined Towers Watson as a senior consultant.
Nearly every trustee is confident of the next stage in their scheme’s strategy, despite almost an equal number being forced to consider replacing plans within the prior 12 months, according to research by Barnett Waddingham.
Companies could be overstating their pension liabilities by up to £60bn due to their life expectancy assumptions, according to XPS Pensions Group.
Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment said last week.
Regulators must act now to impose some "proper regulation" to stop another defined benefit (DB) transfer advice disaster, saysTim Sargisson.
Opportunities for defined benefit (DB) schemes to pursue investment approaches that help repair the UK’s economy cannot stand in the way of improving member outcomes, Aegon says.