News

The Hitachi UK Pension Scheme has agreed and completed a £275m buy-in deal with Legal & General (L&G) covering the remaining benefits in the scheme.

The publication date of the Universities Superannuation Scheme’s (USS) 2020 valuation has been pushed back until September.

The Financial Conduct Authority (FCA) is investigating 165 coronavirus-related scams, according to a freedom of information request (FOI) submitted by Parliament Street think tank’s cyber research team.

The Pension Protection Fund (PPF) and Department for Work and Pensions (DWP) will appeal court judgments relating to the way the lifeboat fund pays compensation.

Extinction Rebellion protesters will rally outside the offices of two Somerset councils this week over the council pension scheme’s allocation to fossil fuels.

This week’s top stories included the launch of the #100blackinterns project, while the Siemens Benefits Scheme agreed a £530m buy-in with Legal & General.

Potential changes to the way the Retail Prices Index (RPI) is calculated and reported could cause assets to fall by between £60bn and £130bn, according to various estimates.

Lane Clark & Peacock (LCP) reported record income of £126.5m for the financial year ending 31 March 2020, up 10.1% on last year’s figure of £114.9m, also a record at the time.

Consultants have warned that cost constraints are holding defined contribution (DC) schemes back, responding to a Department for Work and Pensions’ (DWP) consultation on the effectiveness of costs, charges and transparency measures.

The long-running HM Revenue & Customs (HMRC) v Parry & Ors case, otherwise known as the Staveley case, has concluded Staveley’s actions gave rise to an inheritance tax bill, bringing clarity around pension transfers or switches made in ill-health.