All Contributions articles – Page 2
-
NewsSainsbury’s sets up £500mn loan to DB scheme for LDI crisis
Sainsbury’s has set up a £500mn loan facility to ensure its defined benefit scheme has enough liquidity to face collateral calls on its liability-driven investments.
-
NewsAon warns of 'unintended consequences' from pension campaign
On the go: Aon has warned the Pensions Awareness Week campaign could have “unintended consequences” due to the current cost of living crisis.
-
NewsPost-pandemic retirement surge increases LGPS expenditure
A rise in the number of people retiring following the pandemic contributed towards a 6.6 per cent increase in Local Government Pension Scheme expenditure, new data from the Department for Levelling Up, Housing and Communities has revealed.
-
NewsLabour ‘should bring in workplace pension for self-employed’
On the go: A future Labour government should look to establish a workplace pension for self-employed workers, a centre-left think tank has said.
-
NewsAcademics back strike action over USS ‘pension cuts’
The Universities and College Union has secured a mandate to strike in 150 universities over member benefit cuts in the Universities Superannuation Scheme.
-
NewsQuarter of workers unaware of workplace pension contributions
On the go: More than a quarter (26 per cent) of UK workers do not know how much they contribute to their workplace pension each month, according to new research commissioned by Standard Life.
-
NewsPension contributions down as UK faces ‘retirement time bomb’
On the go: Two-fifths of businesses with more than 500 employees have warned that employees are lowering their pension contributions in response to the cost of living crisis, according to one pension provider.
-
NewsYields ‘can’t spike again’: Schemes respond to liquidity pressures
Analysis: On September 23, chancellor Kwasi Kwarteng rose to his feet in the House of Commons to deliver a “mini” Budget that would have profound consequences for pension schemes.
-
NewsSmart Pension acquires Ensign Master Trust
On the go: Smart Pension has acquired the Ensign Master Trust, making it the eighth such consolidation by the provider, which has promised that an average 25-year-old member would be “thousands of pounds better off” as a result of the move.
-
NewsUniversity employers stick to USS cuts despite strike threat
Universities Superannuation Scheme employers have rebuffed renewed calls by the University and College Union to restore benefit cuts in response to the scheme’s controversial 2020 valuation, arguing there is “no solid evidence” to make benefit changes before the 2023 valuation.
-
NewsEmployers face contribution calls to maintain schemes’ hedging ratios
The sponsoring employers of defined benefit pension schemes look set to be called on for advances of contributions or additional funding, as schemes seek to preserve their liability hedging and lock in their improved funding levels.
-
NewsCost of living crisis fuels enquiries on amending contributions
On the go: One in five of the pension schemes surveyed by the Pensions and Lifetime Savings Association have received enquiries from savers about reducing or stopping their pension contributions.
-
NewsNew ‘pensions minister’ grilled on AE expansion and tax reform
Alex Burghart, the new parliamentary undersecretary of state at the Department for Work and Pensions, has suggested he is keen to see auto-enrolment expanded to cover emergency savings pots.
-
News18,000 teachers subject to ‘challenging’ McCloud choice
Some 18,000 teachers have been made retrospectively eligible for Local Government Pension Scheme benefits by the implementation of the McCloud remedy, presenting an “administratively challenging” task for both the Teachers’ Pension Scheme and LGPS-administering authorities, according to the Local Government Pensions Committee.
-
NewsAE contributions not reaching those most in need
While many employers offer auto-enrolment contributions above the minimum rate, the workers that benefit are seldom those most in need, according to new research from Nest Insight.
-
NewsMPs call for AE reforms to be introduced by spring 2023
The Work and Pensions Committee has called on the government to introduce auto-enrolment reforms next spring, while setting up new policy goals to ensure a “new consensus on adequate retirement income” is achieved.
-
NewsUSS chief exec to step down in 2023
On the go: Universities Superannuation Scheme group chief executive Bill Galvin will be stepping down in 2023 in order to “refresh” the leadership team.
-
NewsTPR finds contribution errors in auto-enrolment inspections
On the go: The Pensions Regulator’s automatic enrolment inspections found a “number of errors” in compliance with auto-enrolment, including miscalculation of pension contributions and miscommunication with staff.
-
NewsPodcast: Webb - Opperman achieved but ‘got sidetracked easily’
Podcast: Former pensions minister Guy Opperman can boast a number of achievements from his time in office. But he was too easily sidetracked away from the bigger issues, such as under-saving in defined contribution schemes, and towards trivialities such as the statements season. LCP partner Sir Steve Webb gives his view on Opperman’s time as minister, and discusses under-saving in DC and a local council investment scandal.
-
NewsInflation presents ‘considerable risk’ to DC pension pots
Skyrocketing inflation figures pose unique challenges for defined contribution pension schemes as memberships surge to record highs, according to the Pensions Policy Institute’s DC Future Book.