All News articles – Page 116
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NewsDraft CDC regulations hampered by poor definitions, industry warns
The government’s consultation into draft regulations governing collective defined contribution schemes requires more work on definitions if these pension funds are to be properly implemented, with the Pensions and Lifetime Savings Association warning it could create a “back door” for unscrupulous employers.
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NewsStrike action ‘inevitable’ after employers agree USS reforms
The University and College Union is to ballot its members over industrial action, branding strikes “inevitable” after employers agreed to press ahead with reforms of the Universities Superannuation Scheme.
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NewsPPF grants levy payment window for schemes impacted by Covid-19
On the go: Defined benefit pension schemes impacted by the pandemic will be granted a 90-day payment window to pay their Pension Protection Fund 2021-22 levy bill.
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NewsNew regulatory rules could put UK dividend recovery at risk
On the go: The pace of dividend recovery for UK companies could be put at risk due to new pension regulatory rules coming into force on October 1, LCP has warned.
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NewsTPR’s ESG guidance raises industry concerns on privacy and penalties
The Pensions Regulator’s draft guidance on climate change reporting and governance is not sufficiently clear on what constitutes compliance, and the watchdog needs to provide clarity on its approach to discretionary penalties, the Society of Pension Professionals has warned.
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NewsChildren’s car seat manufacturer completes £30m triple buy-in
On the go: Britax Childcare Group has completed a triple buy-in for its three defined benefit schemes worth £30m with Just Group.
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NewsLGPS funds and pools cement bet on alts in Q2
LGPS funds and pools cement bet on alts in Q2Data crunch: LGPS funds awarded 37 mandates to asset managers during the second quarter, a time when these schemes and local authority pools increased their allocations to alternative investmentsEnterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, ...
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NewsTPR urges employers to carry on with auto-enrolment duties
On the go: The Pension Regulator has warned employers to not forget auto-enrolment duties as the economy adjusts to the new normal following the pandemic crisis.
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NewsNest to invest 5% of assets in private equity
On the go: The government-backed master trust Nest plans to allocate 5 per cent of its total assets to private equity, which is estimated to be worth £1.5bn by the end of 2024.
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NewsMajority of climate-themed funds are misaligned with Paris goals
More than half of climate-themed funds in the market are misaligned with the goals of the Paris Agreement, with State Street Corporation, UBS Group and BlackRock having the highest negative scores, new research has shown.
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NewsIndustry bodies to 'develop the case' for DC illiquid investments
Industry bodies including the Pensions and Lifetime Savings Association, the Association of British Insurers and the Investment Association will “develop the case” for defined contribution schemes to invest in less-liquid assets, as part of a push to secure “long-term value” for its members.
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NewsTeachers’ Pension Scheme seeks new admin
On the go: The Department for Education has launched a tender for administration services for the Teachers’ Pension Scheme, as Capita’s contract is due to end in 2025.
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NewsFTSE 350 DB schemes time to buyout could drop by 35% due to Covid
On the go: FTSE 350 defined benefit schemes could be reaching their endgame quicker than expected due to the effects of the pandemic on life expectancy, new research has shown.
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NewsDB transfer requests return to pre-pandemic levels
On the go: Cash equivalent transfer value requests are starting to return to pre-pandemic levels following a 50 per cent increase in quotations, research has found.
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NewsMorrisons bidder open to giving additional security to DB schemes
On the go: Clayton, Dubilier & Rice, one of the two private equity managers bidding for Morrissons, is open to considering additional securities to the retailers’ defined benefit schemes as part of their dialogue with trustees.
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NewsEY fined £3.5m for Stagecoach pension audit failings
EY has been fined £3.5m and given a “severe reprimand” by the Financial Reporting Council, in part for failing to meet requirements when auditing Stagecoach’s defined benefit scheme obligations.
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NewsOmbudsman facing 'significant queue of work' from Covid-19
On the go: The Pensions Ombudsman is expecting demand to increase by 10 per cent in light of Covid-19, but is already facing a “significant queue of work” caused by the pandemic, according to its 2021-24 corporate plan.
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NewsOmbudsman criticises Railways scheme for maladministration
The Pensions Ombudsman has partly upheld a complaint by a member of the Railways Pension Scheme against its trustee and administrator, RPMI, after finding maladministration in the scheme’s decision to suspend a member’s pension between July and December 2018.
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NewsMorrisons’ takeover will ‘materially weaken’ sponsor covenant
On the go: The trustees of Morrissons’ defined benefit schemes have warned that both takeover offers for the British retailer will “materially weaken” the sponsors’ covenant.
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NewsPeers valued for ESG guidance as data concerns hamper reliability
When it comes to guidance on environmental, social and governance matters, pension professionals prefer to rely on their peers instead of asset managers, consultants and industry bodies, as clear messaging is dependant on transparent data, experts say.