PRUDENCE is paying dividends for private sector schemes. Deficits have tumbled in the past year and Aon Consulting recently forecast that the majority of UK company pension schemes could be in surplus within just three years. And even though that prediction might seem optimistic, given that FTSE100 companies could be underestimating shortfalls by up to £60bn because future improvements in longevity are being underestimated, no one doubts the trend is in the right direction.
Contrast this with the public sector where the pensions shortfall is spiralling out of control. The government’s own figures – contained in its obscure Public Expenditure Statistical Analyses 2007 report...
Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Financial Conduct Authority (FCA) has launched a consultation on how to enable defined contribution (DC) savers to invest in patient capital via unit-linked funds.
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.