News

The Pensions Management Institute (PMI) has reported itself to the Information Commissioner’s Office following a cyber-attack which resulted in hackers gaining access to the names and email addresses of around 1,700 people.

Salvus Master Trust has launched a product that will accept cash equivalent transfer values (CETVs) from a final salary scheme granted as part of a Pension Sharing Order (PSO).

The Universities Superannuation Scheme (USS) has launched a consultation on its 2020 valuation and ‘technical provisions’ laying out options to reduce its expanding deficit.

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.