All News articles – Page 112
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NewsBritish Steel payouts reach £21.5m
On the go: The Financial Services Compensation Scheme has paid out £21.5m to members of the British Steel Pension Scheme who were wrongly advised to transfer their defined benefit pensions, after payment figures have doubled in the past few months.
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NewsFCA to introduce ‘synthetic’ Libor to ease rate wind-down
On the go: The Financial Conduct Authority has announced that some key Libor panels will publish ‘synthetic’ rates to safeguard an “orderly wind-down” of the benchmark interest rates.
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NewsTPR criminal powers policy spurs more industry concern
The Pensions Regulator has published its policy on how it intends to use upcoming criminal powers to prosecute those who fall foul of new legislation, following widespread industry concern into the scope and extent of the powers.
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NewsBorder to Coast commits to net zero
On the go: The Border to Coast Pensions Partnership, which handles the assets of 11 Local Government Pension Scheme funds worth a collective £55bn, has committed to achieve net zero across its entire investment portfolio by 2050 or sooner in recognition of the urgent need to tackle climate change.
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NewsCapita pension scheme appoints fiduciary manager
On the go: The £1.5bn Capita Pension & Life Assurance Scheme has selected Russell Investments as its fiduciary manager after the scheme trustees’ decided to move to an improved investment governance model.
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NewsShould regulators take the lead on ESG in pensions?
The extent to which financial regulators should get involved in setting environmental, social and governance requirements is a hot topic, with some experts arguing that involvement could stifle innovation.
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NewsTPS exodus continues as schools' trust begins consultation
On the go: Some 23 independent schools are set to become the latest to leave the Teachers' Pension Scheme after a consultation into leaving the scheme was launched by the Girls’ Day School Trust.
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NewsPoor engagement hampers asset managers’ ESG commitments
On the go: Asset managers are not living up to their environmental, social and governance commitments, research from Redington has found, with shortcomings in stewardship and engagement prominent.
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NewsBuilders’ merchant scheme secures £8m buy-in
On the go: The £9.4m Atkinson Northern Limited Retirement Benefits Scheme has secured an £8m buy-in with Legal & General Assurance Society.
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NewsPPF levy to fall by £105m in 2022-23
On the go: The Pension Protection Fund has announced that it expects to collect £415m from its levy payers in 2022-23, a reduction of £105m from the previous year.
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NewsTPR urges schemes to get GMP equalisation done
On the go: The Pensions Regulator is urging schemes to engage with their administrators and complete guaranteed minimum pensions equalisation, as there is a sense of urgency for older members.
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NewsGuidance needed to boost DC access to illiquid opportunities
New guidance on fund-level liquidity management is required to bolster illiquid investing by defined contribution schemes, the Bank of England has said, despite stopping short of recommending an overhaul of daily dealing requirements.
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NewsFTSE 350 DB scheme payments up £45bn after pension freedoms
On the go: The introduction of pension freedoms in 2015 has contributed an estimated £45bn of additional benefit payments made by FTSE 350 defined benefit schemes, research from Barnett Waddingham has revealed.
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NewsTeachers’ Pension Scheme pays £21m to Capita for McCloud admin
On the go: The Teachers’ Pension Scheme has awarded a £20.6m extension to Capita’s current third party administration contract to deal with the implementation of the McCloud remedy.
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NewsIsio snaps up Premier Pensions
On the go: Isio has announced the acquisition of Premier Pensions, subject to approval by the Financial Conduct Authority.
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NewsUber partners with Now Pensions to provide scheme for drivers
On the go: Ride-hailing app Uber is to start rolling out a pension scheme to eligible drivers in the UK and has invited its competitors to create a cross-industry scheme.
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NewsPodcast: No way to avoid the indexation ‘rules lottery’ as inflation bites
Podcast: High inflation will spur more schemes to look to switch from the retail price index to the consumer price index, but there is still no way around the “rules lottery”. Eversheds Sutherland partner Stuart Earle and Aon partner Lynda Whitney discuss inflation, the botched attempt to raise the normal minimum pension age, and a new value for money framework.
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NewsTPR warns small schemes: Prove value or wind up
On the go: The Pensions Regulator has warned smaller defined contribution pension schemes they will need to demonstrate their value to members or wind up, as more stringent rules come into force next month.
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NewsReal Good Food uses sale proceeds to wipe DB deficit
On the go: Liverpool-based cake decoration specialist Real Good Food has used the proceeds from the sale of its snack bar business to “eliminate” its defined benefit scheme deficit.
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NewsONS data shows drop in deficit payments as life expectancy flatlines
On the go: New data from the Office for National Statistics has revealed a significant drop in defined benefit scheme deficit repayment contributions, while the impact of the pandemic can now be seen in nationwide life expectancy data.