News

The Bank of England (BoE) has implemented an emergency cut in interest rates by 50 basis points in an attempt to stave off the “economic shock” of the coronavirus.

Trustees and their advisers could be “criminalised for doing the right thing” and left “fearful of acting” if Pension Schemes Bill wording is not amended, the Joint Industry Forum (JIF) says.

The Work and Pensions Committee (WPC) has written to The Pensions Regulator (TPR) questioning its response to the collapse of Norton Motorcycles and the three pension schemes invested in the company.

Universities Superannuation Scheme (USS) will continue its discussions over whether a pre-and post-retirement dual discount rate approach could help plug serious funding concerns for its defined benefit (DB) section.

The Pension Protection Fund’s (PPF) median gender pay gap stood at 13% as at 31 March 2019, down from 17% in 2018, and 20% the year prior, according to its annual pay gap report.

Scottish Widows is aiming to boost its sustainability practices by working under a new responsible investment and stewardship framework.

Institutional investors are continuing to flounder after the FTSE 100 opened the week down 8.72%, crashing into technical bear market territory.

Guy Opperman has now served as pensions and financial inclusion minister for 1,000 days in a tenure marked by myriad major changes to the pensions landscape.

Smart Pension is set to take on all members and employers of the Welplan Pensions Master Trust, following its closure last year.

Aon has confirmed it will buy Willis Towers Watson in a $30bn (£23bn) all-share deal, becoming the UK's largest pension consulting firm.