News

BT enjoys revival as profits leap 71%; US sales boost the Prudential after Indian downturn; NHS will collapse without reform warns Saga

A member who initially made a £23,923 maladministration claim was handed just £500 compensation by the deputy pensions ombudsman.

An ‘unusual' ruling where the Pension Protection Fund ombudsman upheld part of a trustee board's complaint should not give schemes hope for levy recalculations, LCP says.

Draft guidance on auto-enrolment certification does not clarify nuances around salary sacrifice and opt-out inducements, leaving some employees in a "netherworld", a lawyer says.

One in four council workers already opt out of the Local Government Pension Scheme, with the lowest participation rates in the country at just 46%, figures show.

Solvency II-style capital requirements for UK pensions schemes will be put in place by the European Commission before the end of the decade, industry sources say.

Legal & General Property and Legal & General Investment Management have launched a hybrid property fund targeted at defined contribution schemes.

The Pensions Regulator has placed its review of the BT Pension Scheme funding valuation and recovery plan on hold.

US - Old Mutual Asset Management (OMAM) US has named Steve Belgrad as chief financial officer and Aidan Riordan as director of affiliate development as part of a series of managerial changes.

UK - The Universities Superannuation Scheme's contested switch to career average is set to go ahead this Autumn following a decisive meeting yesterday approving the changes.