lloyds banking group
Updated: Landmark GMP ruling 'significant challenge' for schemes
Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment said last week.
Maps tasked with addressing 'urgent' wellbeing implications of Covid-19
Thirteen recommendations for the Money and Pensions Service (Maps) have been laid out in an independent report to address the “urgent” financial wellbeing implications of the coronavirus pandemic on Britons.
Looking forward to Lloyds (again)
Mark Smith looks at the next instalment of the Lloyds Bank's GMP equalisation court hearing, and what it could entail for pension transfers.
Scottish Widows debuts responsible investment framework
Scottish Widows is aiming to boost its sustainability practices by working under a new responsible investment and stewardship framework.
Scottish Widows completes £2bn de-risking deals in 2019
Scottish Widows completed five bulk annuity transactions in 2019, with liabilities insured exceeding £2bn.
Five stories you may have missed this week
This week’s top stories included Lloyds agreeing a £10bn longevity swap with Pacific Life Re for three of its pension schemes, and the Co-operative Pension Scheme completing a £1bn buy-in with Aviva.
Lloyds secures one million new pension customers, beating 2020 target
Lloyds Banking Group has secured one million new pension customers since the start of 2018, according to its half year results to 30 June.
Lloyds to pay SLA £140m in compensation over termination of Scottish Widows mandate
Lloyds Banking Group will compensate Standard Life Aberdeen (SLA) £140m for the attempted early termination of an investment management arrangement for Scottish Widows worth over £100bn.
PLSA invites PQM applications and announces committee members
The Pensions and Lifetime Savings Association (PLSA) is inviting applications for its Pension Quality Mark (PQM), after making changes to the minimum requirements.
LCP: FTSE 100 scheme funding to fall by £100bn if accounting rules change
Potential changes to accounting standards and increased pressure on companies to accelerate contributions could worsen FTSE 100 scheme funding by up to £100bn, according to Lane Clark and Peacock (LCP).
Hymans Robertson appoints two equity partners and five partners
Pensions and risk consultancy Hymans Robertson has appointed two equity partners and five partners from across the firm.
SLA tribunal triumph over Lloyds termination of £109bn Scottish Widows mandate
Standard Life Aberdeen has won a tribunal in which it claimed Lloyds Banking Group was not entitled to give notice to terminate investment management arrangements for a £109bn mandate.
The pension court cases to watch in 2019
A groundhog year kicks off as many of 2018's biggest court cases return on appeal. James Phillips rounds up what trustees should keep an eye on.
Lloyds secures 630,000 pension customers with 'strong progress' towards one million by 2020
Lloyds Banking Group secured 630,000 new pension customers last year, according to its 2018 annual results.
DB transfer value quotation requests dip in Q3 after GMP equalisation ruling
Two consultancies have reported decreases in defined benefit (DB) transfer quotation requests in Q3, and said guaranteed minimum pension (GMP) equalisation could impact transfer activity.
What the Lloyds case means for advising DB schemes
Henry Tapper says the Lloyds GMP ruling will see little benefit for members but profound fees to administrators.
GMP ruling gives schemes clarity, cost and complexity
Jonathan Stapleton says the GMP headache may persist as schemes take action following ruling.
Five stories you may have missed this week
This week's top stories included the High Court ruling that guaranteed minimum pensions must be equalised, and Ford offering partial defined benefit transfers to members.
UPDATED: GMPs must be equalised and arrears paid, High Court rules
Thousands of defined benefit (DB) schemes will be forced to amend their scheme rules and equalise guaranteed minimum pensions (GMPs) between men and women, the High Court has ruled.
BlackRock wins £30bn Scottish Widows mandate
BlackRock has won over a quarter of a £109bn Scottish Widows mandate following a competitive tender process, as the battle for the remaining £79bn in assets continues.
What to expect from the High Court decision on Lloyds' GMP equalisation
With the High Court's judgment expected imminently, Victoria Ticha examines the possible outcomes and what it could mean for schemes
Lloyds' pension surplus rises by £1bn in six months
The defined benefit (DB) pension schemes of Lloyds Banking Group saw their combined accounting surplus grow by £954m over the first six months of 2018.
Standard Life Aberdeen disputes Lloyds 'right' to pull £109bn Scottish Widows portfolio
SLA claims it is not a 'material competitor'
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