Five stories you may have missed this week

1) PPF compensation cap deemed age discriminatory

The compensation caps applied by the Pension Protection Fund have been deemed age discriminatory by the High Court in another slap down of the lifeboat regime.

2) Big three pension consultants post combined revenues of £1.14bn in 2019

The revenue of the three biggest pension consultancy firms in the UK fell slightly in 2019, dropping from £1.16bn in 2018 to £1.14bn in 2019.

3) PIC calls for creation of compulsory not-for-profit consolidator to take on smaller underfunded schemes

Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.

4) ABI calls for overhaul of pensions tax relief; Industry says change will be ‘far from easy'

The UK's system of pensions tax relief needs to be overhauled to make it fairer to the lower paid and younger savers, the Association of British Insurers says.

5) Superfund risk called into question by Bank of England governor

Bank of England governor Andrew Bailey is understood to have warned against superfund consolidation of defined benefit pension schemes less than a week after the entities were given the green light by The Pensions Regulator.

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• Topics
• Industry
• Pension Protection Fund
• High Court
• Pension Insurance Corporation
• Association of British Insurers
• Andrew Bailey