LCP
New delay for contingent charging ban decision
The Financial Conduct Authority (FCA) has postponed its decision on whether to ban contingent charging on defined benefit (DB) transfers by up to six months.
Government urged to relax rules to enable savers to rebuild pension pots
Lane Clark & Peacock partner Steve Webb has called on the treasury to relax rules which could act as a barrier to people aiming to rebuild their pension pots when the Covid-19 crisis is over.
TPR must 'strike a balance' between tackling deficits and employer support
The Pensions Regulator (TPR) must “strike a balance between getting pension scheme deficits tackled swiftly and not pushing so hard as to jeopardise the long-term future of the employer”, according to Lane Clark & Peacock (LCP) senior partner Bob Scott....
TPR urged to take pragmatic approach for looming valuations
The Pensions Regulator (TPR) must adopt a “pragmatic” approach to the 15% of UK schemes that have valuation dates within the next three weeks, Aon has said.
Alignment is key to active fiduciary management outsourcing
Following the Competition and Marketing Authority's investigation, Nick Reeve looks at how trustees can prepare for the formal tender process required for the selection of fiduciary managers.
Tapered allowance thresholds confirmed to rise by £90,000
The government will raise the two tapered annual allowance thresholds by £90,000 in a bid to reduce the tax impact on high-earning NHS staff.
The Treasury must make a quick decision on RPI
With wider funding challenges and the need to play for the long-term, any change to inflation indexation must be swift and firm, says Sir Steve Webb.
TPR opens 'robust and lengthy debate' on future of DB funding
The Pensions Regulator (TPR) has set out plans for twin-track defined benefit (DB) funding rules mixing clearer regulatory expectations with scheme-specific flexibility.
Ministers 'should not rush' to raise pension access age beyond 55
Lane Clark & Peacock partner Steve Webb has urged ministers not to rush raising the pension access age amid growing speculation of a Budget announcement to accelerate the current timetable.
Chancellor should simplify 'hideously complex' pensions tax relief system
Lane Clark & Peacock (LCP) has suggested the chancellor should take advantage of a large parliamentary majority to introduce a fundamental reform to pensions tax relief to raise significant sums.
Which? calls for urgent introduction of a pensions dashboard
Which? has called for urgent introduction of a comprehensive pensions dashboard after an investigation revealed how the current system leaves workers struggling to track down their retirement pots.
UPDATED: The UK's biggest pension consulting firms by revenue
PP has analysed the accounts of the biggest pension consulting firms and recorded the turnover (revenue) in their most recent accounts. The full leaderboard is below…
UPDATED: The biggest buy-ins and buyouts announced since 2007
There have now been a total of over 50 buy-in and buyout deals of over £500m announced since 2007. The full list is as follows...
Defaults lagging on demand for ESG
LCP says significant numbers of savers want to invest in responsible companies but default funds aren’t keeping up with these changing preferences. Holly Roach reports
Five stories you may have missed this week
This week’s top stories include reports of HM Treasury’s plans to give higher tax relief to those earning over £110,000, and Sir Steve Webb’s move from Royal London to Lane Clark and Peacock.
Have investment managers improved their ESG approaches?
Investment managers are much more transparent on their stewardship approaches, but it remains important for there to be an ongoing dialogue with trustees. Kim Kaveh explores the findings.
Sir Steve Webb to join LCP
Sir Steve Webb will join Lane Clark and Peacock (LCP) as a partner, leaving Royal London where he is currently director of policy.
£30bn bulk annuity market to be the 'new normal'
Insurers are now able to accommodate up to £30bn of bulk annuity transactions every year with no impact on pricing, according to Lane Clark & Peacock (LCP).
Is it time to ditch CDI for RDI?
Return-driven investment strategies can deliver a better match for scheme-specific return targets via a more diversified and liquid portfolio, argues Gavin Orpin.
PMI Student Essay Competition: What the dashboard can learn from open banking, Midata and Fitbit
LCP’s Ella Purkiss was the winner of the PMI's second student essay competition. In her paper, she sets out her ideas as to what the industry can learn from other sectors when designing and delivering the pensions dashboard.
Pensions bill derailed again as general election called
The pension schemes bill will face yet another delay as the UK seems set to have its third general election in five years on 12 December.
Number of small scheme bulk annuities falls 30% in five years
There has been a 30% reduction in the number of small scheme buy-in and buyout transactions, highlighting how insurer attention has shifted towards larger deals.
RPI changes raise volatility concerns for schemes over pension stability
Trustees and scheme sponsors should avoid significant pension actions until proposed changes to RPI inflation methodology become clearer, Lane Clark & Peacock says.
Royal London and LCP call for wider access to partial DB transfers
There needs to be wider access to partial transfers out of defined benefit (DB) schemes, according to a joint paper published by Royal London and Lane Clark & Peacock (LCP).
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