Eversheds Sutherland
UPDATED: DWP to mandate use of simpler annual statements for auto-enrolment DC schemes
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
Siemens completes £530m buy-in with L&G
The Siemens Benefits Scheme has agreed a £530m buy-in with Legal & General (L&G), insuring the benefits of more than 2,300 pensioner members.
ICI secures £70m of benefits in ninth buy-in with L&G
The ICI Pension Fund has completed its ninth buy-in with Legal & General (L&G), insuring a further £70m of benefits and bringing total insured benefits with L&G to around £5.8bn.
LV= converts longevity swap into £800m buy-in with Phoenix Life
The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.
PLSA publishes template for DC chair's statements
The Pensions and Lifetime Savings Association (PLSA) has published a drafting template to help defined contribution (DC) scheme trustees produce their annual chair’s statements.
Simpler pension statements must be compulsory
The government must now bow to pressure and allow providers to choose whether to send standardised, simpler pension statements, says Baroness Ros Altmann.
DB trustees urged to engage with advisers to avoid 'reputational damage'
Pension scheme trustees should actively engage financial advisers if members are looking to transfer out of their defined benefit arrangements and washing their hands of the process does not eliminate risk, a study has found.
DWP annual benefit statement consultation questions voluntary adoption
The Department for Work and Pensions (DWP) has launched a consultation setting out proposals for the adoption and launch of simpler annual benefit statements. Holly Roach reports
The Big Read: The inside story of the BHS schemes' journey to buyout
The story of BHS is one of both outrage and happy endings. James Phillips speaks to trustee chairman Chris Martin and his advisers about the scheme's endgame journey
What will no-deal Brexit mean for cross-border schemes?
The government's latest draft no-deal Brexit regulations outline the end of the cross-border regime, but offer no guarantee of protection for members. James Phillips reports.
Clara names suite of legal, actuarial and secretariat advisers
Defined benefit (DB) consolidator Clara has named its four inaugural providers for legal, actuarial and secretariat advice.
How involved should trustees get in DB transfers?
As the volume of transfer value requests grows, trustees must decide whether to take a minimalist or proactive approach with members. James Phillips explores the pros and cons.
Airways Pension Scheme lands £4.4bn pensioner buy-in with Legal and General
The British Airways sponsored Airways Pension Scheme (APS) has completed a £4.4bn pensioner bulk annuity buy-in with Legal & General.
L&G conducts £300m longevity swap
Legal & General (L&G) has entered the small scheme longevity insurance market after completing a £300m longevity swap with a pension fund.
New BHS scheme completes £800m buyout with PIC
Approximately 9,000 members who transferred to the BHS2 Pension Scheme last year have had their benefits fully insured through a buyout with Pension Insurance Corporation (PIC).
Scottish Widows completes its biggest ever buy-in with Littlewoods
The trustees of the Littlewoods Pensions Scheme have agreed an £880m pensioner buy-in with Scottish Widows.
Why the Irish border really does matter for UK pension schemes
The Brexit deal on the Irish border is heavily vested in trade and security needs, but it also poses problems for cross-border scheme members, James Phillips writes.
Opperman: Pensions policies will not be de-railed by Brexit
The pensions and financial inclusion minister has rejected suggestions that the government is dominated by Brexit discussions and has no time to deal with pensions issues.
Employers face being sued if they take minimal approach to AE
Employers which pay just lip service to their auto-enrolment (AE) duties risk being sued if members fail to receive good outcomes, according to Royal London and Eversheds Sutherland.
DC lessons from across the pond
Steven Hull and Adam Cohen look at what the UK can learn from the US approach to defined contribution pensions
How the BA judgement could change the pensions landscape
James Phillips explores how the upcoming judgement in the multi-stranded British Airways case could impact the sector
Why trustees should watch the courts in 2017
2016 was a big year for pensions in the courts, but the coming months already have a number of potentially game-changing cases lined up. James Phillips explores the cases to watch
