All Consolidation articles – Page 6
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PodcastsPodcast: Covid-19 could have killed the PLSA
Podcast: The Pensions and Lifetime Savings Association “could have died” from the financial damage wrought by the Covid-19 pandemic, and was only saved thanks to prudent long-term planning. Richard Butcher, managing director of PTL, reflects on his tenure as PLSA chair in an episode covering guaranteed minimum pensions guidance, master trusts and bespoke indices for environmental, social and governance investments.
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NewsGovt urges pension schemes to invest in the UK recovery
Boris Johnson and Rishi Sunak have urged UK pension schemes to invest more in long-term UK assets with the goal of fuelling the recovery of the post-pandemic economy.
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PodcastsPodcast: Market capacity may be barrier to DC scheme consolidation
Podcast: There may be limited capacity in the master trust market to take on a rush of defined contribution pension funds as the government continues with its consolidation push, according to Kim Gubler, chair of the Pensions Administration Standards Association, and David Saunders, senior partner elect at Sackers. In this episode, our panellists also discuss Aon and Willis Towers Watson’s abandoned merger, new developments in the pensions dashboards project and the regulator’s review of schemes eligible for the Fraud Compensation scheme.
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NewsDC consolidation ‘too far, too soon’ but is an inevitability, experts say
On the go: The Department of Work and Pensions' proposals on consolidation within the defined contribution market go “too far, too soon”, and risk eroding the involvement of employers in their workforce’s retirement outcomes, experts have warned.
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NewsLeek United Building Society joins Enplan platform
On the go: The circa £45m Leek United Building Society Pension and Assurance Scheme has joined the Enplan Pension Platform, which will provide governance, actuarial, investment and administration services to the scheme.
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NewsDWP’s ‘vision’ for superfunds to be published later this year
On the go: The Department for Work and Pensions intends to set out its “vision” for the future regulation of superfunds in autumn/winter this year, according to its annual report published on Thursday.
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NewsDWP’s move to DC universal charge structure could do ‘serious damage’
Industry commentators are worried about the Department for Work and Pensions’ proposal to introduce a universal annual management charge in defined contribution default funds, warning that the move is premature and could do “serious damage” to the pensions market.
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NewsRushing DC consolidation could hurt member outcomes
The Department for Work and Pensions wants to speed up consolidation among schemes with less than £5bn in assets. Although the initiative was broadly welcomed, experts have warned that rushing its implementation could worsen member outcomes.
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NewsEngineering consultancy moves DC scheme to LifeSight
On the go: The Ricardo International Pension Scheme, with 2.500 members and £125m in assets, has been moved into the LifeSight master trust.
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NewsScams, dashboards, superfunds feature in TPR’s three-year plan
The Pensions Regulator has published its latest three-year plan, an agenda encompassing everything from pensions security, tackling scams, dashboards, superfunds, and coping with the changing nature of defined contribution pension provision.
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NewsSarah Smart appointed permanent chair at the Pensions Regulator
On the go: The Department for Work and Pensions has confirmed the appointment of Sarah Smart as permanent chair of the Pensions Regulator.
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PodcastsPodcast: Illiquids not necessarily the answer for DC
Podcast: Illiquid asset classes might seem attractive in theory, but there would be difficulties establishing them in a defined contribution pension portfolio, even if all the regulatory burdens were removed. Brian Henderson, partner and director of consulting at Mercer, is joined by Shola Salako, professional trustee at Dalriada, to discuss alternatives, putting the S in ESG, and fixing the problems with chair’s statements.
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NewsSarah Smart endorsed as TPR chair despite conflict of interest concerns
The Work and Pensions Committee has given its assent to the appointment of Sarah Smart as the next chair of the Pensions Regulator, putting aside concerns about potential conflicts of interest.
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NewsMPs quiz prospective TPR chair over conflicts of interest
The Work and Pensions Committee has questioned the leading candidate to take over as chair of the Pensions Regulator regarding potential conflicts of interest.
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PodcastsPodcast: Treasury admin fund could help tackle McCloud
Podcast: The Treasury should create a fund to help schemes cope with the administrative load of the McCloud remedy. So says Ray Martin, director at HS Sole Trustees, who is joined by Pensions Administration and Standards Association chair Kim Gubler to discuss TPR’s new climate change agenda, the NAO’s warning about the burdensome McCloud judgment, and a bizarre proposal for a national pension fund.
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PensionBee valued at £346m ahead of IPO
On the go: Consolidator PensionBee could be valued at between £346m and £384m when it floats on the London Stock Exchange.
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Experts dismiss national pension fund proposal
Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.
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Pandemic dampens DC membership growth in 2020
On the go: The increase in defined contribution members slowed to 11 per cent in 2020 as a result of the pandemic, compared with 17 per cent in the previous year, according to data from the Pensions Regulator.
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Industry bodies launch small pots working group
On the go: The small pension pots working group had its first meeting on Wednesday, with a team of experts appointed to propose solutions to the current issues caused to auto-enrolment savers and schemes.
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Government to review DB consolidators taxation regime
On the go: The government is to review the taxation framework for defined benefit consolidators, which will occur alongside the work being done by the regulator in this area.