Five stories you may have missed this week
This week’s top stories included The Pensions Regulator’s announcement of new measures around the appointment of professional trustees, and the £3bn Merchant Navy Officers Pension Fund completing a £1.6bn buy-in with Pension Insurance Corporation.
1) TPR holds back from mandating use of professional trustees
The Pensions Regulator has announced new measures around the appointment of professional trustees following concerns that poor governance is putting members' savings at risk.
2) MNOPF completes £1.6bn buy-in with PIC
The trustees of the £3bn Merchant Navy Officers Pension Fund have secured £1.6bn of members' pension benefits through a buy-in transaction with Pension Insurance Corporation (PIC).
3) Trustees face jail threat under ‘extraordinary' pension bill provisions
PTL managing director Richard Butcher has warned trustees could face jail under proposed pension schemes bill additions to the Pensions Act 2004.
4) APPT and PMI launch professional trustee accreditations
The Association of Professional Pension Trustees and Pensions Management Institute have launched two separate accreditation processes for professional trustees.
5) PLSA warns of ‘unprecedented' government interference in climate strategies
Amendments to the pension schemes bill tabled in the House of Lords could hand the government "unprecedented" powers over schemes' investment strategies, the Pensions and Lifetime Savings Association has warned.
More on Industry
Pension funds must steward their own asset managers responsibly
By improving their stewardship activity and collaborating together, schemes can reduce the burden on resources, says Lauren Peacock.
PIC raises £750m to fund pipeline of risk transfer deals
Pension Insurance Corporation (PIC) has raised £750m of new capital from its shareholders to fund a pipeline of new pension risk transfer deals expected to complete in 2020.
UPDATED: PMI launches accreditation regime for professional trustees
The Pensions Management Institute (PMI) has launched an alternative accreditation programme for professional trustees.
Government will not alter AE earnings trigger
Guy Opperman has confirmed the earnings trigger for auto-enrolment (AE) will remain at £10,000 following this year’s annual review.
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