All articles by Angus Peters – Page 7
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News
BoE adds to DB woes as stimulus struggles to ease covenant strain
On the go: The Bank of England's decision to slash its base interest rate to 0.25 from per cent 0.75 per cent will swell defined benefit liabilities, according to experts, who doubt the ability of monetary policy to ease covenant concerns but say Budget measures may offer some help.
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USS, Calpers and Japanese giant set out sustainability demands
On the go: Three of the world’s most prominent pension fund investors have released a joint statement on sustainability, hitting out at short-termism and scepticism that could allow climate change alone to destroy $69tn (£53.7tn) in global economic wealth.
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Features
Fraud costs pensions £6bn every year
Data crunch: Almost a decade after a wave of pension liberation tax schemes hit the UK retirement sector, fraudulent activity is still having a detrimental impact on savers – costing schemes £6bn every year, according to the latest analysis.
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News
Coronavirus shocks DB deficit by £100bn in a week
On the go: Market turmoil stoked by fears of the Covid-19 outbreak has added £100bn to the UK’s defined benefit deficit in a week, according to Hymans Robertson analysis.
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News
TPR starts DB countdown to ‘significant maturity’
The Pensions Regulator has launched a consultation on its long-trailed, twin-track defined benefit funding approach, seeking industry views on how to get the average scheme to low dependency within 15-20 years.
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KPMG pensions spin-off targets industry modernisation
On the go: KPMG’s former pensions advisory business has relaunched as Isio following its sale to a private equity backer, with the new company looking to grow its consolidation offering and improve the industry’s use of technology.
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News
Schemes unable to handle member information requests
On the go: Testing of pension schemes and providers' ability to meet savers' requests for information about their benefits has uncovered a litany of failings.
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NewsRegulator’s ESG letter ‘as vague as trustees’ statements’
The Pensions Regulator’s response to schemes not publishing newly required statements of investment principles has been lambasted by the non-profit that first uncovered the extent of non-compliance.
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News
Barnet sacks Capita and joins LGPS shared arrangement
The London Borough of Barnet has ended its contract with outsourcer Capita as the administrator of its pension scheme after a litany of breaches and scandals while it oversaw the Local Government Pension Scheme section.
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News
TPR: Hundreds of employers targeted over dividend payments
On the go: The Pensions Regulator has written to “hundreds” of defined benefit trustees over disproportionately large dividend payments made by their sponsoring employers, as the watchdog said its interventions are starting to yield results.
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News
BAE to issue debt to fund persistent deficit
On the go: Defence and aerospace conglomerate BAE Systems is to make a debt-funded £1bn payment into its main defined benefit pensions scheme, dramatically front-loading its recovery plan.
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News
Co-op buys in further £1bn of liabilities
On the go: Retail group The Co-op has secured the pensions of 7,000 defined benefit members in a bulk annuity transaction with the Pension Insurance Corporation.
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News
Talks fail to head off USS strikes
On the go: University employers have stated they are unwilling to meet the demands of a trade union ahead of strikes over the Universities Superannuation Scheme beginning this week.
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News
Increased trustee workload to unleash wave of DC consolidation
On the go: One in three trust-based defined contribution arrangements expects to transfer members into a master trust over the next five years, with stakeholders citing the drain on time and resources of running an own-trust solution.
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News
Hertfordshire LGPS employer agreement sidesteps cessation debt
A housing association has avoided a potentially crippling £3m cessation debt to the Local Government Pension Scheme via an innovative agreement with the scheme’s local administering authority.
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News
PMI launches accreditation course for professional trustees
On the go: The Pensions Management Institute has launched its course for professional trustees seeking accreditation, after an apparent split with the Association of Professional Pension Trustees.
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FeaturesShooting the lights out: Bright ideas to help portfolio construction
Shootingthe lights out Bright ideas to aid yourportfolio construction in 2020 Enterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg {position: absolute;width: 110%;height: 110%;top: -5%;left: -5%;z-index: -1;background-color: rgba(0,0,0,.8);}.sh_embed #embed_article {display: none;}.sh_embed .sh-embed-img {display: block;zoom: 1;opacity: .5;width: 100%;height: 100%;object-fit: cover;image-rendering: ...
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News
Govt maintains earnings trigger despite industry criticism
On the go: The government has opted to maintain the earnings trigger for automatic enrolment at £10,000 for 2020-21, despite long-held industry concerns that the current level is limiting pensions coverage among underprivileged demographics.
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News
Trustees call for radical softening of DB promises
On the go: The government should accept that not all defined benefit pensions are affordable and begin taking radical steps to allow employers to flex their promises, according to two prominent professional trustees.
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News
TPR seeks to extend supervision to select administrators
The Pensions Regulator will attempt to build one-to-one relationships with pensions administrators it considers to be of critical importance, in a voluntary extension of the supervision regime it has already introduced for the largest schemes in the UK.