EY
PP Monthly Digest: April 2021
Here it is, our monthly digest of the most important pension articles Professional Pensions has written and published over the last month, along with some contextual notes.
Octopus Renewables leverages Nest investment and acquires biomass plants
Octopus Renewables has acquired two operational UK biomass power plants in one of the largest domestic deals of its kind.
Industry called to fix shortfall on diversity data collection
There are five steps crucial for finance firms and organisations to implement in order to enhance their diversity data collection, according to EY, LGBT Great, the Diversity Project and Nicsa.
Five stories you may have missed this week
This week’s top stories included the launch of a new sole trustee firm, and the grilling of The Pension Regulator’s interim chair over conflict of interest concerns.
Exclusive: Trustees trapped by base level analysis choosing fiduciary managers
The likelihood of trustees making incorrect decisions when choosing a fiduciary manager due to rudimentary performance metrics remains probable, EY says.
Exclusive: DB sponsor profit warnings trend continues unwelcome escalation
Defined benefit (DB) pension scheme sponsors issued 249 profit warnings last year, 90% of which were specifically related to the coronavirus pandemic, according to EY.
Pension Schemes Bill gets final approval and waits for Royal Assent
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
2021 outlook: What's next for regulation?
After a year that took everyone by surprise, experts tell Professional Pensions what could be on the horizon for regulation in 2021.
2021 outlook: What's next for ESG?
After a year that took everyone by surprise, experts tell Professional Pensions what could be on the horizon for ESG in 2021.
2021 outlook: What's next for schemes?
After a year that took everyone by surprise, experts tell Professional Pensions what could be on the horizon for schemes in 2021.
2021 outlook: What's next for technology?
After a year that took everyone by surprise, experts tell Professional Pensions what could be on the horizon for technology in 2021.
2021 outlook: What's next for investments?
After a year that took everyone by surprise, experts tell Professional Pensions what could be on the horizon for investments in 2021.
Two-in-three DB sponsors issue profit warnings in 2020
“Mounting red flags of financial stress” have meant almost two-thirds of listed companies with defined benefit (DB) schemes have issued profit warnings this year, EY says.
UK Pensions Awards 2020 - The Winners
Here they are - the winners of the UK Pensions Awards 2020...
EY: Driving improvements in market transparency
Professional Pensions spoke to EY partner Iain Brown and director Rikhav Shah as part of an exclusive series of interviews with some of the finalists and winners of the UK Pensions Awards. This is what they had to say…
EY expands UK actuarial team with launch of new interdisciplinary structure
EY has appointed Gareth Mee as UK actuarial leader to head up an expanded interdisciplinary team at the firm.
Big Four accounting firms reveal ESG reporting standards
Leaders of the Big Four accounting firms have joined forces to unveil a reporting framework for ESG standards.
Third way needed in DB funding code; 'Evolution not revolution' urged on covenant
Oversimplification must be avoided in The Pensions Regulator’s (TPR) proposed revision of the defined benefit (DB) scheme funding code, and a third way might be necessary, the industry has said.
Exclusive: EY launches fiduciary manager selection dashboard
EY has launched a digital dashboard allowing trustees to more easily narrow the field of potential fiduciary managers before a tender process.
'Big four' must split audit and consultancy work, says CMA
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
Auditors' accountability to pension trustees faces CMA scrutiny
"Defective" company audits could mean millions of savers in pensions funds are "losing out", says the Competition and Markets Authority (CMA) as it launches a probe of the audit sector.
Government clarifies changes to salary sacrifice car schemes
The government has clarified its stance on salary sacrifice car schemes following confusion within the industry over the changes announced in last year's Autumn statement.
EY appoints life and pensions leader
James Tufts has been hired as UK life and pensions lead partner at EY and will start work on 3 May.
Measuring the performance of fiduciary managers
As the fiduciary management market continues to grow Lynn Strongin-Dodds looks at how schemes can measure their manager's performance.
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