The Department for Work and Pensions has admitted it is ‘gravely concerned' over proposals to bring the IORP Directive more into line with the Solvency II.
It is feared that should Solvency II rules, which govern insurers, be applied to schemes it would lead to significantly higher funding targets and shorter deficit recovery periods for many UK firms. ...
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.