All News articles – Page 107
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NewsMencap completes £61mn bulk annuity deal with Canada Life
On the go: The circa £152.1mn defined benefit section of the Mencap Pension Plan has signed a £61mn bulk annuity transaction with Canada Life.
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NewsUSS discourages use of alternative benefits modellers
On the go: The Universities Superannuation Scheme has discouraged members from using alternative benefits modellers to work out how they will fare following the conclusion of the scheme’s 2020 valuation, warning that they operate on very different assumptions to those agreed by employers and the trustee.
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NewsEngagement essential for schemes to turn the tide on plastic waste
The role pension schemes play in overcoming plastic pollution is multifaceted, and communicating it with members only adds another layer of complexity, experts warn.
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NewsParliamentary fund heeds Sunak’s warning over Russia
On the go: The Parliamentary Contributory Pension Fund has ordered its fund managers to divest from Russian assets where possible, after uncovering a small amount of direct Russian holdings.
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NewsStaffordshire University staff to walk out over pension reform
On the go: Staff at Staffordshire University are set to walk out over plans to hire new staff through a subsidiary company, meaning they will not be given access to a defined benefit pension.
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NewsIndustry anger as new FCF levy goes ahead costing MTs £130mn
The government is to press ahead with an increase to the Fraud Compensation Fund levy, which will see master trusts brunt the majority of the costs paying an extra £130mn over the next nine years, despite their members being the least likely to benefit from it, experts have warned.
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NewsNewell Rubbermaid scheme agrees £225mn buy-in with L&G
On the go: The Newell Rubbermaid UK Pension Scheme has agreed a £225mn buy-in for its Combined Newell and Record Section with Legal & General Assurance Society.
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NewsEvri couriers to be auto-enrolled into pension scheme
Twenty-thousand couriers for Evri, the delivery company that rebranded itself this month from Hermes, will be automatically enrolled into a pension by the end of 2022 after it reached an agreement with the GMB union.
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NewsGovt’s dashboard proposals cause widespread industry concerns
The Pensions and Lifetime Savings Association has recommended three thresholds that must be met before pensions dashboards are launched to the public, but there is widespread industry concern around liability for incorrect or misinterpreted information, and significant doubts whether its launch is achievable by the government’s preferred dates.
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NewsMaster trusts and PPI launch new member database
On the go: Five master trusts, including Nest and Now Pensions, have announced a new research project in tandem with the Pensions Policy Institute.
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NewsGovt to compensate judges for additional McCloud tax bills
The Ministry of Justice has announced it will compensate judges who incur additional tax liabilities as a result of the immediate choice they will take later this year, while other departments left their proposals largely unchanged following consultations on phase one of the McCloud remedy.
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NewsDWP called to intervene in divorced women underpaid pensions
On the go: A bill calling on the government to include divorced women in its efforts to repay those who have been underpaid the state pension has been introduced in parliament.
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NewsTPR’s web-based scheme return questions cause industry mayhem
Actuaries, trustees and consultants are disappointed with a new method introduced by the Pensions Regulator for scheme returns, pointing out that a web-based form with additional questions implemented this year has increased the risk of providing wrong information.
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NewsEighteen new pension firms sign up to UK Stewardship code
On the go: Wales Pension Partnership, the Pension Protection Fund and Barnett Waddingham are among the 18 new pension companies that have successfully signed up to the UK Stewardship Code.
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NewsTPR to issue new guidance on employer covenant
On the go: The Pensions Regulator is working on fresh guidance regarding employer covenant, which may emerge in autumn of this year.
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NewsPensions market remains far from transparent, FCA says
On the go: The pensions market remains one of the least transparent, according to the head of pensions policy at the Financial Conduct Authority.
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NewsGovernment to legislate soon on scheme investment in illiquids
The government will introduce legislation to help pension schemes invest in illiquid assets, the work and pensions secretary has said.
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NewsUCU to ballot members on new strikes over employers’ USS deal
On the go: The University and College Union has announced new industrial action ballots at 149 universities, which will open on March 16 and run until April 8, as the row over the resolution of the Universities Superannuation Scheme’s 2020 valuation escalates.
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NewsGovernment set to regulate further on ESG
On the go: The government is preparing to regulate in order to achieve consistency on environmental, social and governance standards across the private sector, ministers have told the chair of the All-Party Parliamentary Group for ESG.
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NewsPension Protection Fund pulls out of Russia
On the go: The Pension Protection Fund will eliminate its negligible exposure to Russian assets when liquidity in the market improves, it has announced.