Five stories you may have missed this week
This week’s top stories include the National Pension Trust topping a defined contribution (DC) default fund performance league tables for 2019. Also, The Pensions Regulator will require trustees to issue savers who wish to switch from a defined benefit to a DC scheme with a letter warning of the potential consequences.
1) National Pension trust tops DC default fund performance league tables for 2019
The National Pension Trust's global equity fund has been named as the best performing growth phase default fund over one and three years in a research report published by Defaqto.
2) Pension schemes to issue Covid-19 DB transfer warning letters to members
Pension scheme members looking to transfer from a defined benefit to a defined contribution pension during the Covid-19 crisis will be warned it is unlikely to be in their best long-term interests.
3) XPS posts 9% growth in revenues; reveals 15% rise in admin business
XPS Pensions Group saw a 9% year-on-year increase in revenues during the year to 31 march, it said in an unaudited update this week.
4) Two-thirds of pension firms cut gender pay gaps
Asset managers have made considerable improvements in their gender pay gaps, with an average narrowing of 10.8 percentage points, Professional Pensions analysis finds.
5) Firefighters launch fresh legal battle against government pension benefits delay
The Fire Brigades Union has filed court proceedings over the government's withholding of improved pension benefits for its employers, citing it a "dirty trick".
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XPS posts 9% growth in revenues; reveals 15% rise in admin business
XPS Pensions Group saw a 9% year-on-year increase in revenues during the year to 31 March, it said in an unaudited update today.
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