All Costs and charges articles – Page 8
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NewsCabinet Office opens consultation as McCloud challenges mount
The Cabinet Office has launched a consultation on how the McCloud remedy is to be implemented for members of the civil service pension scheme, while the GMB union has joined the list of those challenging it in the courts.
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NewsRegulatory burden prompts fears of trustee exodus
On the go: Three-quarters of employers fear the trustees of their pension schemes will consider resigning rather than face an “onslaught” of regulatory and legislative change, according to a survey from the Association of Consulting Actuaries.
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NewsUnion ballots for strike action over schools’ exit from Teachers’ scheme
On the go: The National Education Union is balloting its members on industrial action over plans by the Girls’ Day School Trust to exit the Teachers’ Pension Scheme.
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NewsPPI: Governance should be focus of UK value-for-money framework
Lessons on how to successfully integrate robust governance procedures in providing value for money in UK pensions must be taken from overseas, the Pensions Policy Institute has said.
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NewsBMA joins firefighters in threatening McCloud legal action
The British Medical Association is the latest public sector body to threaten legal action should the government persist with plans to make its members pay for the cost of the McCloud remedy.
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FeaturesCould CDC solve the USS crisis?
Collective defined contribution has been touted as a possible long-term solution to the problems of the Universities Superannuation Scheme, but experts and unions are not convinced of its suitability.
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NewsUCU demands a new USS valuation
On the go: The University and College Union has published a list of demands of Universities UK, the group representing 340 Universities Superannuation Scheme employers, which it says must be met if strike action this winter is to be avoided.
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NewsUUK tries to dispel valuation myths as UCU presses on with strike action
Universities UK, the group representing 340 Universities Superannuation Scheme employers, has argued that the rate increases facing USS members would not be alleviated by a new valuation, countering claims made by the University and College Union.
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NewsUniversity of Dundee urged to agree pensions deal with striking staff
On the go: The Scottish government’s higher education minister has urged the University of Dundee to reach an agreement with staff striking over controversial plans to move low-paid workers to a defined contribution scheme.
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NewsUCU members back strike action over USS pension cuts
University and College Union members have backed industrial action over cuts proposed by the Universities Superannuation Scheme trustee and Universities UK, the group representing 340 USS employers.
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NewsMassive retender exercise sees fiduciary manager fees drop
On the go:The Competition and Markets Authority order for schemes to run a fiduciary management tender exercise led to a 345 per cent increase in retenders in 2021, a process that saw a marked decline in fees, according to research from Isio.
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NewsFirefighters threaten legal action over McCloud costs
The government is braced for more McCloud drama after the Fire Brigades Union published a letter threatening legal action to stop the cost of the remedy falling on members.
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NewsUSS directors sued over climate inaction and breaches of duty
Two university lecturers, backed by a number of branches of the University and College Union, have filed a wide-ranging legal action against the directors of the Universities Superannuation Scheme, accusing them of multiple failings with respect to the controversial 2020 valuation, and of inaction around climate change commitments.
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NewsBudget: Govt not expecting tax relief take-up and millions for McCloud
Pensions Expert’s roundup of the key figures from the Autumn Budget: the government assumes most people will not claim their net pay tax relief top-up, £10m has been set aside to help administer increasingly complex McCloud tax arrangements, and the Goodwin remedy could end up costing £3bn. However, savings have been made from the double lock and state pension overpayment revisions.
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NewsBudget 2021: Sunak announces further changes to DC charge cap
Chancellor of the exchequer Rishi Sunak announced on Wednesday that the government will consult “within the next month” on further changes to the charge cap intended to encourage more investment in illiquid assets by defined contribution schemes. But experts have said this is “missing the point”.
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NewsBudget 2021: Missed opportunity to tackle pensions ‘ticking time-bomb’
Following a Budget speech light on pensions policy announcements, the industry has been weighing in on what has been revealed, including a consultation on the charge cap and a new tax relief for low earners in net pay schemes, while others say that the chancellor has not done enough to address industry concerns.
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NewsRenewed calls for charges transparency in annual statements
On the go: Six in 10 pension savers are unaware of the charges they pay on retirement savings, prompting new calls for increased transparency for charges on annual pension statements.
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NewsEmployers hit back at benefit cut claims as USS strike action looms
On the go: Universities UK, the group representing 340 Universities Superannuation Scheme employers, has hit back at claims from University and College Union that a reform package agreed with the USS trustee will lead to members suffering benefits reductions of 35 per cent.
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NewsMembers on lower incomes to pay more in NHS pensions overhaul
The government has announced its intent to overhaul the way in which NHS Pension Scheme members pay contributions from April next year, following the implementation of the McCloud remedy.
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NewsUSS employers call for union co-operation ahead of strike ballot
Universities UK, the group representing 340 Universities Superannuation Scheme employers, has called on trade unions to co-operate with it as it bids to reform the embattled pension scheme.