News

Prudential is to slash the size of its corporate defined contribution (DC) pensions business as it moves to purely online- and telephone-based services, Professional Pensions can reveal.

The board of the Financial Conduct Authority (FCA) has accepted proposals to ditch the term 'value for money' from the final rules relating to the Asset Management Market Study (AMMS).

Some 100,000 defined benefit (DB) transfers took place in the 2017/18 financial year, according to estimates by The Pensions Regulator (TPR).

The majority of respondents agree that The Pensions Regulator should seize assets from employers who fail to pay fines.

The investment consultant and fiduciary management market "may not be working well for pension schemes which are not engaged", the Competition and Markets Authority (CMA) has said.

Last week's top stories included ITM completing a management buyout backed by private equity, and the regulator publishing its corporate plan for the next three years.

Derrick Dunne - the founder and former head of Sanlam Four - has been hired as chief executive of Beaufort Investment subject to FCA approval.

Rates remain at 0.5%

The bill creating a new single financial guidance body and introducing provisions for a ban on pension cold-calling has received Royal Assent today.

BT and the trustee of its pension scheme have agreed to contributions totalling £12.3bn over 13 years to plug its actuarial funding deficit.