News

The UK’s pension regulators have called on pension savers to stay calm as fears over the impact of the coronavirus pandemic on markets and personal finances may lead many to take damaging actions.

Stopped suitability of advice work

Investment Association (IA) UK gilt funds were the only fund sector to deliver positive returns in a "horror show" March, which saw the ongoing impact of the coronavirus pandemic decimate the performance of most IA-registered vehicles.

Universities Superannuation Scheme (USS) has said it will go ahead with its 31 March valuation despite significant falls in asset values over the past month.

Multinational communication services giant WPP has completed a £250m buy-in for two of its pension schemes with Pension Insurance Corporation (PIC) as the insurer celebrated a “healthy pipeline” of deals amid the Covid-19 outbreak.

Communications platform Knowa is offering trustee boards and professional trustees free access to its online collaborative tools amid the growing impact of the coronavirus pandemic and the rising number of staff working remotely.

The Department for Work and Pensions (DWP) has cancelled a planned rise to the general levy amid the ongoing Covid-19 outbreak.

The Pensions Administration Standards Association (PASA) has issued special guidance for administrators as they grapple with the Covid-19 crisis.

The Pensions Regulator (TPR) is “pulling out all the stops” to help struggling employers during the Covid-19 crisis, although latest guidance may put trustees in a “challenging” position, the industry says.

Taxpayers could be forced to fund the £8bn Railway Pension Scheme deficit following the renationalisation of the railway system.