All member engagement articles – Page 5
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PodcastsPodcast: Uncertainty around inflation leads to ‘casino pensions’
Podcast: High levels of volatility around inflation will force trustees to “take a bet” on the future, as it is very difficult — absent a crystal ball — to predict inflationary pressure and its impact on scheme liabilities, says Pension Playpen chief executive Steve Goddard. He is joined by Cardano managing director Emily Goodridge to discuss inflation, technology in pensions, and the future of environmental, social and governance disclosure.
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NewsTPR aims for transparency in consolidated enforcement powers
The Pensions Regulator has launched a consultation into a new draft enforcement policy document that aims to consolidate existing enforcement policies governing defined benefit, hybrid, public sector and defined contribution pension schemes.
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NewsSome DB schemes will be subject to ‘stronger nudge’ requirements
On the go: Some defined benefit schemes will have to comply with the Department for Work and Pensions’ new “stronger nudge” requirements, due to come into force on June 1, dispelling suggestions that only defined contribution schemes would be affected.
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NewsGMP conversion bill receives royal assent
On the go: A private members’ bill aimed at clarifying and streamlining the process of guaranteed minimum pensions conversion has received royal assent.
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NewsThird of schemes using GMP to improve member options
On the go: One-third of pension schemes are using the guaranteed minimum pensions equalisation process as an opportunity to improve member options, according to new research.
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NewsInstitute and Faculty of Actuaries issues climate risk alert
On the go: The Institute and Faculty of Actuaries has published a new alert warning of the risk that actuaries may not be appropriately considering or communicating the impact of climate change, and has committed to releasing new guidance in this area.
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NewsAltus and ITM move first on next stage of dashboards journey
On the go: Financial services software company Altus and platform technology specialist ITM have been confirmed as the first participants in the Pensions Dashboards Programme’s “Alpha” stage to move forwards to the next development stage.
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NewsPLSA issues further clarification on HMRC’s GMP guidance
On the go: The Pensions and Lifetime Savings Association has posted a memo clarifying certain aspects of HM Revenue & Customs’ guidance on the tax treatment of guaranteed minimum pensions equalisation, looking specifically at the treatment of the interest element.
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NewsPolice Scotland warned of staff exodus after pension changes
Police Scotland is reportedly facing a staff exodus after changes to pension lump sum rules led 1,800 staff to query the size of the figure they will receive under the new system, with 400 having already decided to leave the service.
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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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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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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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NewsCharge cap proposals criticised as govt launches illiquids consultation
The government has said it will “take time to consider” industry concerns around its proposals to exclude performance fees from the charge cap, and has launched a combined consultation into other ways in which to encourage defined contribution schemes to invest in illiquid assets.
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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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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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NewsRailpen: Member engagement is vital for schemes’ ESG strategies
Engaging a member with their environmental, social and governance-invested savings can be difficult when they do not know what ESG is.
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OpinionSchemes need to pay attention to members’ sustainable demands
In an interesting Pensions Expert article published in February, it was asserted that there is still a strong perception among trustees that investing in sustainability in pension funds is at odds with financial returns.
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NewsAnother wave of strikes begins as USS valuation row escalates
On the go: Staff at 40 universities have begun the next round of industrial action over the controversial conclusion of the Universities Superannuation Scheme’s 2020 consultation.