News

Any weakening of the sponsor covenant arising from the Covid-19 crisis is likely to have the most challenging impact for pension schemes, according to March's Pensions Buzz respondents.

The BT Pension Scheme (BTPS) has announced the appointment of three new trustees to its board.

Defined benefit (DB) scheme trustees should be open to employer requests to reduce or suspend deficit recovery contributions (DRCs) if there is a good reason to do so, The Pensions Regulator (TPR) has said.

Trustees “must be confident” they can continue to take care of members despite the ongoing financial fallouts caused by the spread of coronavirus, says Dalriada Trustees.

The Pensions Regulator (TPR) has temporarily relaxed the timeframe for schemes which need to report late payments from employers for workplace pension schemes.

A £1.2bn global investment-grade corporate bond fund has been launched by LGPS Central with four initial investors.

The disruption caused by the Covid-19 pandemic has also had a major impact on defined contribution schemes. In this article, XPS Pensions Group recommends trustees take four urgent steps to protect schemes and members.

This week’s top stories included a call on the Treasury to relax pension rules to help enable saving after the coronavirus crisis, and the industry’s call for clearer guidance from The Pensions Regulator (TPR) on managing Covid-19.

Furloughed workers will continue to receive pension contributions under the government’s coronavirus job retention scheme, HM Revenue & Customs (HMRC) has confirmed.

The Bank of England has maintained the historic low 0.1% base rate and predicted a gloomy economic outlook for the UK in the face of the Covid-19 pandemic.