Coronavirus
B&CE furloughs 140 staff and changes charging structure
B&CE, the provider of The People’s Pension, has furloughed just under a quarter of its members of staff in response to pressures from the Covid-19 crisis.
HMRC pushes back deadline for GMP data cuts
HM Revenue and Customs has extended the deadline for the issue of final reconciliation data cuts due to the coronavirus outbreak.
Coronavirus-driven capacity crunch to leave DB members flailing
Retirees looking to access additional income from their defined benefit (DB) scheme during the Covid-19 crisis will be victims of a “capacity crunch” as suitable financial advisers flee the market, according to Barnett Waddingham.
Covid-19: Six actions for scheme sponsors to consider
Against a Covid-19 backdrop of deteriorating funding positions and reduced ability to pay DRCs, Alistair Russell-Smith looks at key actions for scheme sponsors.
DB funding - March 2020: Covid-19 drives volatile funding levels
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the March 2020 estimates on the various measures…
Coronavirus Blog: B&CE furloughs 140 staff and changes charging structure; HMRC pushes back deadline for GMP data cuts
In this live blog, Professional Pensions brings together all the latest news on the industry's response to the coronavirus pandemic, as well as regulatory and legal updates.
Market Movers Blog: The 40 companies still paying dividends
In this live blog, Professional Pensions' sister title Investment Week collates all the breaking market news, analysis and opinion on equity, bond and currency movements as well as the impact of trade wars, tightening monetary policy and the Brexit negotiations....
UK gilt funds lone positive performers in 'horror show' March
Investment Association (IA) UK gilt funds were the only fund sector to deliver positive returns in a "horror show" March, which saw the ongoing impact of the coronavirus pandemic decimate the performance of most IA-registered vehicles.
Knowa offers trustees free collaborative tools amid coronavirus crisis
Communications platform Knowa is offering trustee boards and professional trustees free access to its online collaborative tools amid the growing impact of the coronavirus pandemic and the rising number of staff working remotely.
Government withdraws 10% general levy increase
The Department for Work and Pensions (DWP) has cancelled a planned rise to the general levy amid the ongoing Covid-19 outbreak.
PASA issues Covid-19 guidance for administrators
The Pensions Administration Standards Association (PASA) has issued special guidance for administrators as they grapple with the Covid-19 crisis.
TPR deficit contribution guidance welcomed but 'hidden implications' arise
The Pensions Regulator (TPR) is “pulling out all the stops” to help struggling employers during the Covid-19 crisis, although latest guidance may put trustees in a “challenging” position, the industry says.
Covenant most pressing issue amid Covid-19, say Buzz respondents
Any weakening of the sponsor covenant arising from the Covid-19 crisis is likely to have the most challenging impact for pension schemes, according to March's Pensions Buzz respondents.
A DC coronavirus checklist for trustees
In these unprecedented times, it is more important than ever that DC schemes have the right processes in place for governance, communications, and administration. Rona Train looks at what you need to be checking for.
Consider suspending DRCs for three months if necessary, TPR says
Defined benefit (DB) scheme trustees should be open to employer requests to reduce or suspend deficit recovery contributions (DRCs) if there is a good reason to do so, The Pensions Regulator (TPR) has said.
TPR extends late payment reporting deadlines
The Pensions Regulator (TPR) has temporarily relaxed the timeframe for schemes which need to report late payments from employers for workplace pension schemes.
Coronavirus investment considerations for pension schemes
Susannah Young looks at how pension schemes should be reacting to impact of the coronavirus crisis on investment-related considerations and discusses steps trustees can take.
Coronavirus job retention scheme will cover AE contributions
Furloughed workers will continue to receive pension contributions under the government’s coronavirus job retention scheme, HM Revenue & Customs (HMRC) has confirmed.
Bank of England holds rates at 0.1%; warns of 'sharp' UK downturn
The Bank of England has maintained the historic low 0.1% base rate and predicted a gloomy economic outlook for the UK in the face of the Covid-19 pandemic.
Self-isolating pension professionals and their pets
Pension professionals show us their new 'work colleagues' as their turn their homes into offices.
Market volatility making bulk annuities more affordable
The fall in pricing of credit assets due to Covid-19 has made bulk annuities more affordable for schemes with significant gilt holdings, according to XPS Pensions.
Key issues for trustees and sponsors to consider amid coronavirus crisis
DLA Piper has set out a list of key issues for occupational pension scheme trustees and sponsors to consider in light on the Covid-19 pandemic.
UPDATED - Working from home, keeping connected: 19 video conferencing and collaboration tools to consider
Ensuring remote working colleagues and board members can keep in touch is suddenly more important than ever. We look at 19 video-enabled collaboration tools that could help bridge the communications gap.
Mercer calls for deficit contribution halt to help struggling pensions system
The continuation of pension deficit contributions is unattainable during the Covid-19 pandemic, Mercer has told The Pensions Regulator (TPR).
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