This week's top stories included The Pensions Regulator writing to 14 pension schemes, questioning the values they were giving to members seeking to transfer out.
Also, the government announced plans to crack down on ‘phoenix' company bosses who avoid paying pension obligations, while the Pensions and Lifetime Savings Association urged the Competition and Markets Authority to adopt a recommendation for closed fiduciary management tenders.
The Pensions Regulator has sent letters to defined benefit schemes encouraging trustees to consider cutting transfer values on offer when workers want to leave.
Company bosses who deliberately dissolve their company to avoid paying pension contributions could be hit with disqualification under government plans.
Melrose Industries has postponed the sale of one of its American subsidiaries from which some proceeds were earmarked for the GKN pension schemes.
Mandatory tenders for fiduciary management services should be conducted on a closed basis with no minimum threshold for the number of managers involved, the Pensions and Lifetime Savings Association says.
The £800m Hays Pension Scheme has completed a £270.6m buy-in with Canada Life, insuring all future benefits for pensioner members.
Redington is in the process of securing private equity backing from Phoenix Equity Partners for an undisclosed amount.
The Pension Protection Fund (PPF), in partnership with Dun & Bradstreet (D&B), has published its plans for updated insolvency risk services and is consulting on its approach to insolvency risk measurement from 2021.
The Pensions Regulator (TPR) has published research on leverage and liquidity to better gauge the potential risks for defined benefit (DB) pensions and inform the Bank of England’s Financial Stability Report.
The first formal review of the Local Government Pension Scheme (Scotland) (LGPS) has revealed all 15 of its funds are in a strong financial position.
In this week’s Pensions Buzz, we want to know if you think defined benefit trustees should help their members source financial advice.