More defined benefit news – Page 32
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NewsTwo-fifths of fiduciary managers do not actively influence voting
On the go: Forty-two per cent of fiduciary managers do not actively influence the voting activities of underlying assets or managers when looking at environmental, social and governance issues, new research has revealed.
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NewsPension savers prioritise returns over ‘investment big bang’
On the go: Less than a fifth of pension savers think that investing their pensions in companies or assets that would benefit their local area should be prioritised, new research has revealed.
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NewsClearGlass: Passive ESG funds provide value for money
On the go: Passive environmental, social and governance funds are cheaper and outperform their non-ESG equivalents, representing value for money, according to a study by ClearGlass Research.
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NewsABI: Solvency II reforms would ‘disincentivise’ infra investment
The government’s proposed reforms to the Solvency II regime would not help to facilitate insurers’ investment into UK infrastructure, the Association of British Insurers has claimed in a consultation response.
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NewsDB goliaths call for AVCs stronger nudge exemption
Seven defined benefit schemes with £217bn in assets have asked for Work and Pensions committee intervention due to concerns regarding ‘stronger nudge’ requirements, which they believe are not fit for purpose.
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NewsFCA failed to protect British Steel scheme members, MPs say
The Financial Conduct Authority had “inadequate oversight” of companies involved in the British Steel Pension Scheme transfer scandal and was “consistently behind the curve” when responding to issues, MPs have claimed.
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NewsArmed forces scheme books £200mn cost for incorrect benefits
On the go: The Armed Forces Pension Scheme has recorded a £200mn cost linked to incorrect benefits received by discharged personnel.
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NewsBorder to Coast Pensions Partnership hits net savings targets
On the go: The £38.3bn Border to Coast Pensions Partnership, which handles the assets of 11 Local Government Pension Scheme funds worth a collective £60bn, has announced it is delivering on its promise to cut costs for its local authority pension partner funds.
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NewsSappi UK scheme completes full £150mn buy-in
On the go: The Sappi UK Pension Scheme has completed a full £150mn buy-in with Phoenix Group subsidiary Standard Life.
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NewsScam warnings on DB transfers reach all-time high
On the go: The number of scam warnings on defined benefit transfers is at an all-time high, despite a downward trend in transfer activity, XPS Pensions has said.
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NewsInflation hits new 40-year high of 9.4%
On the go: The rate of inflation has risen to 9.4 per cent in the 12 months to June, as the governor of the Bank of England warns that interest rates could be increased by 0.5 per cent in the next decision meeting.
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NewsGovt urged to tackle NHS pensions amid staff retention fears
The government has been encouraged to address NHS pensions in order to tackle staff retention issues, following the announcement of a sub-inflation pay rise of 4.5 per cent for eligible dentists and doctors.
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NewsFirefighters demand fix to ‘grossly unfair’ pensions dilemma
The Fire Brigades Union has drawn attention to a problem facing members that have accrued benefits in both the 1992 and 2015 Firefighters’ Pension Schemes, which exposes, in particular, members aged over 55 that can no longer meet firefighters’ fitness requirements.
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NewsMPs call for tax-unregistered NHS pension scheme
MPs have called on the government to revisit legislation that is being blamed for early retirements among NHS workers and financial penalties on health workers.
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NewsOpperman to lead task force on ‘social factors’ in ESG
Pensions minister Guy Opperman has announced the creation of a task force to aid trustees with monitoring data and international reporting developments as they pertain to the “S” in environmental, social and governance considerations.
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NewsMorrisons agrees to sponsor McColl’s schemes
On the go: Wm Morrison Supermarkets group is the new sponsor of McColl’s two defined benefit schemes, in a deal that has secured the benefits of 2,000 members.
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NewsEDS scheme secures £1.1bn full buy-in
On the go: The £1.5bn EDS 1994 Pension Scheme has secured a £1.1bn full buy-in with Pension Insurance Corporation.
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NewsPodcast: Providers delaying transfers are failing their customers
Podcast: The Department for Work and Pensions has been clear about the intent of regulations governing transfers, and providers continuing to delay them are doing their members a disservice, argues PensionBee founder Romi Savova. She is joined by Penfold co-founder Pete Hykin to discuss the ongoing transfer fight, the fallout from pensions minister Guy Opperman’s resignation that wasn’t, and employers misunderstanding auto-enrolment.
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NewsPPF fulfils strategic priorities and may lower the levy
On the go: The Pension Protection Fund has handed out £1.1bn in member payments in the past year, having successfully met its five strategic priorities — and it may now be in a position to consider bringing down the PPF levy as part of a focus shift towards financial resilience.
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NewsBulk annuity deal volumes on track to hit £35bn in 2022
On the go: Total buy-in and buyout volumes are on track to reach £35bn by the close of the year, up more than 25 per cent from £27.7bn registered in 2021.