News

The Plumbing and Mechanical Services (UK) Industry Pension Scheme was 99% funded on a low-dependency basis, a valuation conducted amid economic turmoil has confirmed.

Minister for Pensions and financial inclusion minister Guy Opperman has pledged to make secondary legislation for the Pension Schemes Act his “number one” priority over the coming months.

The Pension Protection Fund (PPF) has made its first direct investment into UK social housing after providing the majority of Monmouthshire Housing Association’s (MHA) recent £85m debt refinancing.

Professional Pensions rounds up some of the latest tender awards from across the industry.

The industry has welcomed the introduction of the Pension Schemes Act, with many praising the important changes it introduces for millions of savers in workplace pensions.

This week’s top stories included the government’s announcement that the normal minimum pensions age will rise to 57 in 2028, while PwC research suggested lagging remuneration and lack of diversity among trustees.

UK GDP was 1.2% higher in December 2020 as eased lockdown restrictions for the month helped to bring total growth for the fourth quarter of the year to 1% overall, according to the latest Office for National Statistics (ONS) data.

Standard Life Aberdeen (SLA) is expected to change its name as part of deal with Phoenix Group, which is set to buy the 200-year old Standard Life brand, according to reports.

The normal minimum pension age (NMPA) is set to increase to 57 under plans unveiled in a government consultation today (11 February).