Five stories you may have missed this week
This week’s top stories included Mothercare negotiating an extension to the contributions timeline for its pension scheme, and the Pension Protection Fund announcing a proposed levy cut.
1) Mothercare forced to backtrack on pension payments after Covid-19 pressures
Mothercare has negotiated an extension to its scheme contributions schedule with a significant level of deficit expected following the offloading of its UK business last November.
2) PPF drops multi-year approach to cut levy to lowest since 2006/07
Around 2,000 small schemes could see their levies cut as the Pension Protection Fund consults on introducing a tapered approach to its risk-based levy while temporarily dropping its multi-year approach.
3) Government rules out review into impact of pension tax relief
The Public Accounts Committee's recommendation that HM Revenue & Customs should conduct a review into the impact of pensions tax relief has been ruled out by government.
4) TPR: Trustees can't duck questions on climate change
Trustees need to develop their understanding and capacity around ESG issues to be able to make better decisions for their members, The Pensions Regulator says.
5) FRC assess early reporting against 2020 Stewardship Code
Asset owners and investors have made "good attempts" at reporting against the principles of the UK Stewardship Code 2020, the Financial Reporting Council says.
More on Industry
Aviva announces net-zero default and urges same requirement for all AE funds
Aviva has set a 2050 net-zero target for its own auto-enrolment (AE) default pension funds, and called on the government to make all AE default funds set the same goal.
LV= in exclusive talks with private equity firm Bain Capital over sale
After speculation gained traction over the weekend, LV= has revealed it is in exclusive talks with Bain Capital over the sale of its remaining pensions and insurance business.
AMNT celebrates ten years of punching above its weight
The Association of Member-Nominated Trustees co-chair David Weeks remembers some of the organisation’s highs and lows during a tumultuous first decade
EY expands UK actuarial team with launch of new interdisciplinary structure
EY has appointed Gareth Mee as UK actuarial leader to head up an expanded interdisciplinary team at the firm.
How the coronavirus pandemic is affecting retirement plans for older workers
One in eight older workers have changed their retirement plans as a result of Covid-19, the Institute for Fiscal Studies says
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