The Bank of England's (BoE) decision to increase interest rates for the first time in over a decade has been welcomed by the industry, yet the move will only be "symbolic" for most defined benefit (DB) schemes.
The doubling of the rate from 25 basis points (bps) to 50bps came yesterday after months of hints from the central bank, with its Monetary Policy Committee (MPC) approving the change with a 7-2 vote. ...
This week's edition of Professional Pensions is out now.
The government is in talks with the UK and Irish pensions regulators over how to protect members of cross-border schemes in the event of a no-deal Brexit.
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
The Pensions Regulator will consider if schemes should be required to have professional trustees and assess the case for greater regulation of administrators and system providers, PP can reveal.