Last year was not a good year for UK pension deficits. Many pension trusts experienced a dull year at best for investment returns, with many pension funds losing money overall.
Meanwhile the unthinkable happened, and gilt yields fell still more. As the gilt yield is an important variable in the measurement of pension fund liabilities this on its own increased deficits substantially....
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.