All Contributions articles – Page 6
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NewsEmployer contributions may lag NI LGPS growth, GAD finds
On the go: Tax-backed employers may struggle to maintain their contributions in line with the Northern Ireland Local Government Pension Scheme’s growth, the Government Actuary’s Department has found.
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NewsCapital build-up sees Lloyds make extra £500mn deficit contribution
On the go: Lloyds Banking Group has made £1.3bn in deficit contributions to its three main defined benefit pension schemes.
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NewsTPR funding statement flags uncertainty impact for valuations
High levels of uncertainty surrounding inflation, interest rates, mortality, energy prices and economic growth will put additional pressure on trustees completing their tranche 17 valuations this year, according to the Pensions Regulator’s annual funding statement.
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NewsMaster trusts call for AE rate increase with opting down option
Pension specialists are calling for the government to introduce an opting down option when setting the next auto-enrolment minimum rate increase as a way of protecting those on lower earnings.
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NewsUber faces legal action over Sharia compliant pension arrangements
On the go: The App Drivers & Couriers Union has started legal action against Uber for failing to make Sharia-compliant pension arrangements for its majority Muslim workforce.
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NewsNew strike mandate at universities over USS pensions row
On the go: Staff at 27 universities have a mandate to take strike action over pensions that will last until October 2022, after the University and College Union secured the support of its members.
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NewsRussia business suspension disrupts Mothercare deficit repayments
Retailer Mothercare will not fully pay the first instalment of its deficit repair contributions schedule this month and will enter into negotiations with its schemes’ trustees over its timetable for future payments.
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NewsUSS and University of Southampton make AVC blunder
On the go: The Pensions Ombudsman has partially upheld a complaint against the University of Southampton and the Universities Superannuation Scheme trustee after a communication lapse saw a member continue to make annual voluntary contributions after her policy had ended.
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NewsMcCloud remedy causes three of four schemes to breach cost cap
The Government Actuary’s Department has published the cost cap valuations of four public sector schemes, confirming that the cost of implementing the McCloud remedy has led to a breach of the cost control mechanism, cancelling previously-agreed benefits increases.
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NewsUSS trustee concerned by ‘misleading’ use of financial reports
On the go: The Universities Superannuation Scheme trustee has issued an update on scheme finances, and expressed its concern that previous use of monitoring statements by parties involved in the ongoing 2020 valuation dispute could be “misleading” members about the true state of the scheme.
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NewsUCU calls for an end to USS cuts in light of improved finances
On the go: The University and College Union has called on employers to reverse plans for what it called “brutal cuts” to staff pensions, in light of a “drastic improvement” in Universities Superannuation Scheme finances.
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NewsOpperman calls for industry input on CDC expansion
On the go: Pensions minister Guy Opperman has called on the industry to work with government on expanding the nascent collective defined contribution market, though experts have previously warned that draft regulations are too strict to allow for real growth in the sector.
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NewsNatWest pumps £427mn into pensions as govt reduces its stake
NatWest Group has paid £427mn into its pension scheme as a result of an off-market purchase of ordinary shares from HM Treasury, which saw the government’s stake in the banking group drop beneath 50 per cent for the first time since the 2008 financial crash.
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PodcastsPodcast: Spring Statement - Missed opportunity to support savers
Podcast: A light Spring Statement on pension topics meant that important issues such as financial education and support for institutional investors are still missing from the government’s agenda, argued Callum Stewart, head of defined contribution investment at Hymans Robertson, and Charlotte O’Leary, chief executive and executive director at Pensions for Purpose.
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NewsUCU calls for staff welfare inquiry as two-thirds consider quitting
On the go: Two-thirds of university staff could quit the higher education sector altogether over mounting dissatisfaction with pay, pensions and working conditions, the University and College Union has warned, as it calls for the Education Select Committee to set up an inquiry into staff welfare.
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NewsRegulator’s CDC plans risk strangling the sector at its birth
The Pensions Regulator’s draft code of practice for collective defined contribution schemes is unnecessarily strict and risks severely hampering growth in the sector, industry bodies have warned.
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NewsPlumbing Pensions to use member funds to fight section 75 claims
The Court of Session in Edinburgh has granted Plumbing Pensions permission to use member funds to defend against legal claims from employers over its pursuit of section 75 liabilities.
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News‘Quirk’ sees public sector pay freeze hit teachers’ pensions annual hikes
A ‘quirk’ in the way teachers’ pensions are calculated could mean some teachers stand to suffer an extra loss as a result of the public sector pay freeze, as pension calculations normally triggered by a change in earnings have not occurred.
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NewsTeachers accept GDST pensions offer but union remains concerned
Further industrial action at the Girls’ Day School Trust has been averted after teachers accepted an updated pensions and pay offer from the trust, though the National Education Union has refused to endorse it.
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NewsTextiles business ordered to pay missing pension contributions
On the go: Bolton Textiles Group has been told by the Pensions Ombudsman to make up for an employee’s missing pension contributions, as well as paying £1,000 for the distress it has caused her.