News

Pension companies must be given the power to trigger an “urgent regulatory response” to savers at risk of fraud, while regulators should be able to override the right to transfer, The People’s Pension and The Police Foundation have said.

The total assets under management (AUM) held by the world’s 300 largest pension funds has increased this year to reach $19.5trn (£14.8trn).

Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.

The former trustee and chief executive officer of Yateley Industries for the Disabled has been ordered to pay back £250,000 he stole from the charity’s pension scheme.

Pension administration firm Trafalgar House has been appointed by the Siemens Benefits Scheme and the Siemens Healthineers Benefits Scheme.

The government has confirmed the minimum pension age will rise from 55 to 57 by 2028 to coincide with the rise in the state pension age to 67.

The Plumbing and Mechanical Services (UK) Industry Pension Scheme has appointed independent consultant Pi Consulting to conduct a review of its governance.

The Work and Pensions Committee (WPC) is hoping victims of pension fraud will respond to the call for input ahead of its much-anticipated inquiry reviewing the impact of the introduction of pension freedoms five years on.

This week’s top stories include the Marathon Service Limited Pension and Life Assurance Scheme’s £610m full buy-in with Rothesay Life, while XPS Pensions Group warned mature scheme deficits could double under The Pension Regulator’s ‘fast track’ rules....

The former trustee of a charity who defrauded a pension fund of £250,000 will appear in court today (4 September), one year after The Pensions Regulator (TPR) said it would seek a confiscation order for the funds’ return.