News
FCA data reveals over £20bn of DB transfers between 2018 and 2020
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, latest Financial Conduct Authority (FCA) data reveals.
Cushon launches its first net-zero pension
Fintech workplace savings business Cushon has launched a net-zero pension available now to savers who want to “actively contribute towards slowing climate change”.
PensionBee launches flexible offering for self-employed
Online provider Pension Bee has created a flexible pension for self-employed savers, allowing them to make contributions according to their income.
Trustees will need to be corporate finance experts under new TPR powers
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
PP parent Incisive Media launches Sustainable Investment Festival
Join us on 22-24 June
Pension Schemes Bill set for final debate next week
The Pension Schemes Bill has been scheduled for ping-pong, its penultimate step before becoming law.
Five stories you may have missed this week
This week’s top stories included news that Pension Schemes Bill powers given to The Pensions Regulator to issue contribution notices will not be backdated, while the Department for Work and Pensions said it will ban flat-fee charging on auto-enrolment...
TPR's long-term funding approach 'will put extra financial pressure' on scheme sponsors
The Pensions Regulator’s (TPR) long-term funding approach will put extra financial pressure on UK pension scheme sponsors, according to Aon.
LGPS to become negative cashflow 'by 2024'
Local Government Pension Scheme (LGPS) funds are being urged to prioritise cashflow management as investors are challenged to find income in traditional fixed income and property markets.
Essex seeks direct corporate lending manager
Essex Pension Fund is looking to appoint an investment manager for a direct corporate lending mandate of approximately £200m to £250m.
Aegon commits to net-zero default funds by 2050
The carbon emissions in Aegon UK’s default pension funds will be slashed in half by 2030 under a longer-term plan to reach a net-zero position by the middle of the century.
Marie Curie completes £30m buy-in with L&G in first 2021 deal
The Marie Curie defined benefit (DB) scheme has entered into a circa £30m full scheme buy-in agreement with Legal & General (L&G) Assurance Society.
PMI and NextGen to collaborate on series of projects to represent the next generation in pensions
The Pensions Management Institute (PMI) and NextGen have partnered to offer a series of initiatives to “give a voice to the next generation of pension professionals”.
TPR response to funding code consultation reveals level of industry concern over twin-track regime
The Pensions Regulator (TPR) has published the interim response to its first defined benefit (DB) funding code consultation – highlighting the depth of industry concern around its proposed twin-track regime.
DWP sets de-minimis for flat-fee AE charges and launches work to standardise cost reporting
The Department for Work and Pensions (DWP) will ban the charging of flat fees on AE auto-enrolment (AE) pots below £100 and launch work on how to standardise cost and charges reporting.
Two-thirds 'sleepwalking' into retirement and will run out of pension in their 80s
Older savers are at risk of running out of their defined contribution (DC) pension savings with a third of their retirement still ahead, according to research by The People’s Pension and State Street Global Advisors.
13 LGPS funds seek shared actuarial, admin and governance provider; Maps looks for independent evaluator
Norfolk County Council has issued a tender notice for a multi-provide framework agreement for the provision of actuarial services, governance, and administration support and consultancy services.
Have your say: What do you think will be the most important pension issues in 2021?
In this latest Pensions Buzz we want to know what will be the biggest pension issues in 2021.
Employee DC contributions drop by 11% amid pandemic pressures
Defined contribution (DC) contributions were scaled back by 11% in the second quarter of 2020 as the impact of the pandemic set in, according to the Office for National Statistics (ONS).
US equities look safer than European but inflation worries are rising
The US economy is on course to do better than Europe post-lockdown, thereby supporting US equities but raising inflation worries, according to economists.
PLSA and IA launch stewardship steering group
The Pensions and Lifetime Savings Association (PLSA) and the Investment Association (IA) have launched a stewardship steering group to create sustainable value for savers and investors.
LGPS funds see increase in claims over historic transfers
Around two-thirds (77%) of Local Government Pension Scheme (LGPS) funds have received a claim relating to historic transfers over the past 12 months, according to Eversheds.
Dormant assets scheme expanded to include pensions
The government has expanded its dormant assets scheme to include pensions and investments, making a total of £880m available to support the UK.
