All Association of British Insurers articles – Page 2
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OpinionMembers or fraudsters? Take action now to weather the dashboard storm
The Pensions Regulator has ramped up its call to trustees to take action and prepare for the introduction of the pensions dashboard – recently launching its ‘Deadline’ campaign and guidance to get data ready. The largest schemes are expected to connect from June 2023 with medium-sized schemes set to follow from October 2024.
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NewsPension savers prioritise returns over ‘investment big bang’
On the go: Less than a fifth of pension savers think that investing their pensions in companies or assets that would benefit their local area should be prioritised, new research has revealed.
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NewsABI: Solvency II reforms would ‘disincentivise’ infra investment
The government’s proposed reforms to the Solvency II regime would not help to facilitate insurers’ investment into UK infrastructure, the Association of British Insurers has claimed in a consultation response.
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NewsPensions engagement campaign to launch this autumn
On the go: The first iteration of a new pensions engagement campaign created by the Association of British Insurers and the Pensions and Lifetime Savings Association will run from September to November.
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NewsA third of firms paying minimum AE believe this is govt recommendation
One in three employers who offer the minimum auto-enrolment contribution of 3 per cent to their staff are doing so as they believe this is the government “recommendation”, new research has revealed.
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NewsOpperman: Employers should provide ‘rainy-day fund’ to keep staff
Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff.
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NewsSmall pots group revisits pot-follows-member solution
The small pots working group has come up with three recommendations to consolidate the large number of small defined contribution pension pots in the UK, one of which includes the pot-follows-member solution, which has been touted before.
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NewsABI calls for 12% auto-enrolment minimum contributions by 2031
The Association of British Insurers has called on the government to increase minimum auto-enrolment contributions to 12 per cent by 2031.
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NewsSchemes and providers team up to push pensions engagement
On the go: Around 15 pension providers and schemes representing approximately 41.5mn savers and customers have committed to support a campaign to encourage engagement with pensions.
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NewsIndustry anger as new FCF levy goes ahead costing MTs £130mn
The government is to press ahead with an increase to the Fraud Compensation Fund levy, which will see master trusts brunt the majority of the costs paying an extra £130mn over the next nine years, despite their members being the least likely to benefit from it, experts have warned.
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NewsNew emissions template launched, savers demand green pensions
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with the launch of a new carbon emissions template for pension schemes, and a new study highlighting savers’ demand for green pensions.
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NewsStrong start is key to dashboards success, study finds
On the go: The pensions dashboards initiative needs to hit the ground running and offer a comprehensive ‘find and view’ service from its point of launch in order to maximise its chances of success, according to Ipsos Mori research.
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NewsABI warns dashboards must be interactive to draw in young savers
On the go: Pensions dashboards should be interactive and show how changing contributions can boost income to appeal to younger savers, the Association of British Insurers has said.
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NewsHigh Court gives green light to Pru’s £12bn annuity sale
On the go: The High Court has approved the transfer of £12bn of annuities from Prudential Assurance Company, now M&G, to Rothesay Life after it was previously blocked.
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NewsGovt U-turns on minimum pension age hike protections
The government has closed the opportunity for people to transfer to a pension scheme that would offer pension age protection ahead of its planned minimum pension age increase.
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NewsGovt involvement may be needed to find small pots efficiency solution
On the go: Ensuring that savers can financially benefit from the savings of small pots consolidation is a “big question for government”, the Pensions and Lifetime Savings Association’s annual conference heard on Thursday.
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NewsSmall pots mass consolidation poised for 2025-26
Mass-scale consolidation is set to be implemented in 2025-26, the Small Pots Cross-Industry Co-ordination Group has said, but industry experts have voiced concerns over the enormity of the task.
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NewsIndustry bodies to set dashboards data matching standards
On the go: The Pensions Administration Standards Association will be working with the Pensions and Lifetime Saving Association and the Association of British Insurers to set up the standards for the pension dashboards data matching.
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NewsFinancial bodies call for new online scam rules
On the go: Seventeen groups have joined forces to warn about online scams and lobby the government to include methods to tackle this issue in its upcoming online safety bill.
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News
Association of British Insurers completes £26m buy-in
On the go: The Association of British Insurers Pension & Assurance Scheme has completed a £26m buy-in with Aviva.