All News articles – Page 108
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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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NewsSchemes enable more CO2 than entire UK carbon footprint
ESG spotlight:A roundup of the latest news on environmental, social and governance initiatives, including analysis showing the UK’s pensions market would be in the top 20 global carbon emitters if it was a country, and a study concluding that less than 1 per cent of fund assets are Paris-aligned.
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NewsRegulators to push forward with preparations for dashboards
On the go: The Pensions Dashboards Programme has confirmed that its partner organisations, including the Financial Conduct Authority and the Pensions Regulator, are set to begin work on progressing the dashboards programme.
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NewsSchroders to acquire River and Mercantile’s FM business
On the go: Schroders has announced its intention to acquire River and Mercantile Group’s UK solutions division, consisting of its fiduciary management and derivatives businesses, for £230m.
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NewsUK must take lessons from abroad to successfully integrate CDC
On the go: The UK must look to the international experience of collectivised pension schemes and prioritise effective member communications, the Work and Pensions Committee has heard.
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NewsPublic sector pensions cost £57bn more than declared, report finds
The government is misleading parliament and the public over the cost to the taxpayer of public sector pensions, a report from the Institute of Economic Affairs has claimed, while raising further questions around the visibility of these pension schemes.
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NewsCushon launches new private markets investment strategy
On the go: Master trust Cushon has launched a new investment strategy that will see a 15 per cent allocation to private markets, in an attempt to “reduce investment risk”.
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NewsAlmost a quarter of trustees unsure of endgame strategy
On the go: There are still doubts among trustees about their defined benefit schemes’ long-term strategy, as almost a quarter of these professionals (23.9 per cent) are unsure of their endgame strategy, a survey has revealed.
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NewsFCA pushes ahead with new illiquids fund for DC schemes
Pension funds will have access to a Long-Term Asset Fund regime following changes made by the Financial Conduct Authority, with special flexibility afforded to defined contribution schemes to invest in illiquid assets.
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NewsTrustee body calls for FCA action on manager voting policies
On the go: The Association of Member Nominated Trustees has called for regulatory action from the Financial Conduct Authority after a review found that a majority of fund managers “promise no meaningful action” in their climate change voting policies.
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NewsActuaries demand ‘comprehensive guidance’ on TPR’s notifiable events
On the go: The Association of Consulting Actuaries has called for “comprehensive guidance” to be published before the Pensions Regulator’s new notifiable events regime comes into force, citing the “significant penalties” that apply for non-compliance.
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NewsEstate agents bring legal action against Purplebricks in pensions row
On the go: Online estate agency Purplebricks is facing legal action from more than 100 of its self-employed estate agents, who claim they are entitled to a workplace pension, contributions and holiday pay.
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News‘Greenium’ widens following £6bn green gilt issuance
On the go: The second issuance of the UK’s green gilt has raised a further £6bn, the Treasury has said, but analysis of the transaction suggests that the ‘greenium’ has widened in secondary markets.
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NewsBig funds invest £128bn in fossil fuels, LCP urges net-zero action
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including research by Friends of the Earth that found the UK’s largest pension funds have no “credible plan” to divest the £128bn currently held in fossil fuels, and a call from LCP for defined contribution schemes to take meaningful action on net-zero ambitions.
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NewsDWP tells schemes to prioritise stewardship
Pension schemes may see the end of stewardship ‘box-ticking’ under new proposals brought forward by the Department for Work and Pensions.
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NewsLGPS must consider net-zero impact to avoid social downturn, MPs say
MPs have called on Local Government Pension Scheme funds to mitigate the economic and social risks that a shift to a net-zero economy may have on the communities most affected by the green transition, averting a repeat of the mistakes made during the downturn of industry in the 1980s.
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NewsSEI acquires Atlas Master Trust
On the go: Wealth management company SEI has announced the acquisition of Capita’s defined contribution master trust Atlas, subject to regulatory approval.
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NewsTPR to demand more asset information from schemes in 2023
The Pensions Regulator has confirmed it will press on with reforming the asset class information it collects via the scheme return, in a consultation response published on Thursday.
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NewsHealthcare diagnostics scheme completes £130m full buy-in
On the go: The PerkinElmer (UK) Pension Scheme has completed a £130m full buy-in with Phoenix Group subsidiary Standard Life.