News

Members and trustees will never understand GMP calculations, and the regulator should not be allowed to create its own rules, according to this week's Pensions Buzz respondents.

Capping the pension tax-free lump sum at £40,000 would raise £2bn a year for the government, new research by the Resolution Foundation suggests.

The Whitbread Group Pension Fund has been handed a one-off contribution of £380m following Whitbread's sale of Costa to The Coca-Cola Company.

Just six of the remaining 49 defined contribution master trusts have applied for authorisation to The Pensions Regulator (TPR) since its regime came into force last October.

This week's top stories were the merger of the guidance bodies, and the PPF's hopes to begin payments to its members receiving less than 50% of their benefit entitlements.

The Universities Superannuation Scheme (USS) saw its deficit fall by £3.9bn on a technical provisions basis over a one-year period, its latest valuation reveals.

The Pensions Advisory Service, Pension Wise and the Money Advice Service have now been merged to form the Single Financial Guidance Body (SFBG) after months of preparation.

Pensions Software Solutions (PSSL) - the business set up by Clive Hallworth and Roger Betts last year - has launched a fully automated pension administration system, Aurora, in a bid to improve efficiency and cut costs.

A ban on employers leaving an industry-wide plumbing pension scheme has been extended for six months in a bid to protect the covenant.

Defined benefit (DB) schemes saw their aggregated deficit more than double over December, ending 2018 with a funding level of 93.5%, says JLT Employee Benefits.