News

This week’s top stories included a call on the Treasury to relax pension rules to help enable saving after the coronavirus crisis, and the industry’s call for clearer guidance from The Pensions Regulator (TPR) on managing Covid-19.

Furloughed workers will continue to receive pension contributions under the government’s coronavirus job retention scheme, HM Revenue & Customs (HMRC) has confirmed.

The Bank of England has maintained the historic low 0.1% base rate and predicted a gloomy economic outlook for the UK in the face of the Covid-19 pandemic.

Royal London’s independent governance committee (IGC) report revealed investment performance for all workplace pension customers in 2019 was above its target.

The Financial Conduct Authority (FCA) has postponed its decision on whether to ban contingent charging on defined benefit (DB) transfers by up to six months.

Millions of public sector workers will be able to choose whether their pension provision should be accrued under legacy or reformed schemes under government plans announced yesterday.

Defined contribution (DC) schemes are mostly content with the current asset classes available despite the industry’s push into proving members can benefit from diversified investments underpinned by strong ESG integration.

The fall in pricing of credit assets due to Covid-19 has made bulk annuities more affordable for schemes with significant gilt holdings, according to XPS Pensions.

Almost all employers are now facing challenges when providing their staff with a workplace pension, according to Smarterly.

Pension scheme trustees are relying too much on their advisers to give a holistic view of any governance challenges their scheme may be facing, says RSM.