Consolidation
TPR: Increasing number of firms to look to consolidators and superfunds as funding improves
Companies are increasingly looking to consolidators, superfunds and other sophisticated financial structures to help remove their defined benefit (DB) liabilities, The Pensions Regulator (TPR) says.
Quarter of schemes switch to DC master trusts; a further half planning similar move
Transfers to defined contribution (DC) master trusts will continue well into 2021, latest research from Sackers reveals.
The capacity crunch facing DC scheme transfers to master trusts
Stephen Richards says government regulation will herald an ‘avalanche’ of DC scheme transfers to master trusts. He sets out his predictions and a word of caution.
Guy Opperman: Dashboards and consolidation go hand-in-hand
In the last of a five-part series of articles for PP, pensions minister Guy Opperman explains how pension dashboards will help consolidate pensions.
Raising the bar for small DC schemes
As DC schemes face increasing pressures to consolidate, David Snowdon says master trusts are the perfect home.
Punter Southall launches DB scheme consolidator called Stoneport Pensions
Punter Southall has launched a defined benefit (DB) scheme consolidator in a bid to allow small schemes to cut their running costs, reduce risk and improve benefit security and governance.
PIC calls for creation of compulsory not-for-profit consolidator to take on smaller underfunded schemes
Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.
David Fairs: Why we have launched an interim superfund regime now
With the launch of an interim regime, the consolidation market is set to take off. But before superfunds begin taking on schemes, the regulator must have 'rigour and understanding' of the market, David Fairs tells James Phillips.
DWP to legislate for DC consolidation 'nudge'
Small defined contribution (DC) schemes will be “nudged” into consolidation under new government plans to ramp up governance.
Smart Pension to consolidate Welplan Pensions Master Trust
Smart Pension is set to take on all members and employers of the Welplan Pensions Master Trust, following its closure last year.
Nine in 10 people save into the largest master trusts
The Pensions Regulator (TPR) has revealed 90% of people are saving into the largest master trusts, creating a “safe and stable” workplace pension market.
PASA publishes master trust transition guidance
The Pensions Administration Standards Association (PASA) has published its first batch of guidance on defined contribution (DC) master trust transition, as further consolidation is expected.
Insurers are letting down small DB schemes
Without specialist help, smaller DB schemes are being left behind in a bulk annuity market increasingly focused on mega-deals, says Rob Dales.
Industry split on compulsory workplace pension membership
A narrow majority of this week's 108 Pensions Buzz respondents said there was no need to make workplace pension scheme membership mandatory.
Pensions bill possible as date set for Queen's Speech
Boris Johnson's government will deliver its first Queen's Speech on 14 October, the prime minister has announced.
Pension administration needs to be taken more seriously
KGC Associates' administration survey revealed the industry thinks administration is not taken seriously. Holly Roach looks at the survey findings.
Medicash transfers £20m DB scheme to TPT
Medicash has transferred its defined benefit (DB) scheme to TPT Retirement Solutions' DB Complete master trust, improving the security of member's benefits.
Webinar: Clara Pensions, KPMG and The Pension Superfund discuss DB consolidation
In this webinar, panellists discuss some of the key questions around defined benefit consolidation, including what it is trying to achieve and the suitability of various models.
10 weeks is appropriate for DB to DC transfer, say respondents
This week's Pensions Buzz respondents were mostly in agreement that 10 weeks is an appropriate length of time to conduct a full DB to DC transfer.
TPT consolidates £220m Coventry Building Society scheme
Coventry Building Society has transferred its £220m defined benefit (DB) scheme to TPT Retirement Solutions' DB master trust.
Exclusive: Smart Pension to consolidate Corpad Master Trust
Smart Pension has taken on over 20,000 active members from the £20m Corpad Master Trust, following a strategic review by the ceding firm's trustees.
Members failing to understand pension freedom tax issues
Scheme members are not equipped to deal with the tax implications of accessing their pension, last week's Pensions Buzz respondents said.
PLSA policy board sets inaugural priorities; addresses consolidation challenges
The Pensions and Lifetime Savings Association's (PLSA) policy board has agreed a four-year plan focusing on consolidation, adequate contributions, effective management and well-run schemes.
Trustees 'could miss chance' to boost member security from lack of superfund awareness
Three in five trustees have not heard of Clara Pensions, one of two defined benefit (DB) consolidators to have launched since last year's government white paper.
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