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G30 Turner report urges 'early action' to fix looming pensions crisis
Individuals must work longer, save more or spend less in retirement to avoid a global pensions crisis, a report by a Group of Thirty (G30) working group says.
Five stories you may have missed this week
This week’s top stories include the approval of the settlement deal between British Airways and the trustees of the Airways Pension Scheme, and calculations that show pension schemes could save 20% if they move to a defined contribution master trust....
Children's nursery director admits to misleading TPR
The director of a Merseyside nursery has admitted to failing to comply with automatic enrolment (AE) responsibilities after setting up a pension scheme that was left empty.
PP Rising Star Awards 2020: Initial nominee list revealed!
Here it is… The list of all the individuals, teams and organisations that have been nominated so far for the PP Rising Star Awards 2020.
Recruitment agency admits misleading TPR and avoiding AE duties
A recruitment agency and its managing director have pleaded guilty to misleading The Pensions Regulator (TPR) by falsely claiming staff had been put into a workplace pension.
Industry calls for simpler pensions tax system
The government should review pension tax rules and simplify the system, according to AJ Bell and the Association of Consulting Actuaries (ACA).
First Group reports £24m growth in pension deficit
First Group has reported an increase in its pension deficit in the first half of the year, but says trading is “in line with expectations”.
Milestone for Star Initiative as it reaches 50 participants
Capita has signed up to the government-backed Star Initiative, taking its total number of participants to 50.
LGPS Central private equity fund reaches fully-invested status
LGPS Central has fully invested its inaugural private equity fund eight months on from its launch.
Brunel launches emerging markets sub-fund with three managers
The Brunel Pension Partnership has launched an emerging markets sub-fund following the appointment of Genesis Investment Management, Wellington Management and Investec Asset Management as investment managers.
UK CPI inflation falls to lowest level in two years at 1.5%
The UK’s consumer prices index (CPI) has fallen to its lowest level since November 2016, according to the Office for National Statistics (ONS).
Smart Pension enters strategic partnership with Australian administrator
Smart Pension and Australian administrator Link Group have entered a strategic global partnership to take their “combined expertise” into new markets in the UK and globally.
PIC converts Scottish Hydro-Electric Pension Scheme longevity swap into £750m buy-in
Pension Insurance Corporation (PIC) has agreed a £750m bulk annuity transaction, converting a pensioner longevity swap held by the Scottish Hydro Electric Pension Scheme (SHEPS) into a buy-in.
Women saving for retirement cannot escape widening pensions gap
Most women are not saving enough for retirement and remain at risk of running out of money after they finish work, according to new analysis.
ITV reports deficit fall and sells contingent asset for £150m
ITV has reported the net deficit of its defined benefit pension scheme has fallen from £105m on 30 June to just £2m on 30 September.
TPP election manifesto urges next government to bolster auto-enrolment
The People’s Pension (TPP) has urged the next government to improve saving for low paid workers and increase pension transparency ahead of the 12 December general election.
Master trusts slash prices to 'attract new business' after authorisation
Cost savings of up to 20% could be made by pension schemes if they move to a defined contribution (DC) master trust, according to Hymans Robertson analysis.
Former trustee admits £250,000 pension scheme fraud
The former trustee of a charity for the disabled has pleaded guilty to fraud after transferring more than £250,000 from the organisation’s pension scheme.
DB funding - October 2019: PPF 7800 index sees liabilities fall as gilt yields increase
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the October 2019 estimates on the various measures…
High Court approves BA deal with Airways Pension Scheme trustees
Justice Antony Zacaroli has approved the settlement deal between British Airways (BA) and the trustees of the Airways Pension Scheme (APS).
British Steel staff positive on Chinese buyout plans after pension collapse
A lifeline for British Steel in the form of a Chinese buyout would have positive implications for its workers caught up in its defined benefit (DB) pension transfer scheme saga.
AE safety net for employed women leaves entrepreneurs to struggle
A third of female entrepreneurs in the UK are not saving any money towards their retirement, figures from Scottish Widows show.
Employers engaging gig economy workers with pension savings despite AE rules
Over half (52%) of employers engage their gig economy workers for whom no pension provision is required to be made under UK law, according to the Association of Consulting Actuaries (ACA).
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