The Bank for International Settlements (BIS) has warned spiking bond yields across the world threaten trillion of dollars in losses for investors and a fresh crisis for banks unless they are braced for the shock.
Swiss-based BIS said losses on US treasuries will reach $1trn if average yields rise by 300 basis points, reports the Telegraph. It warned losses could range from 15% to 35% of GDP in the UK, France,...
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.