All News articles – Page 123
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NewsDB transfer activity increases in June
On the go: Defined benefit transfer activity increased throughout June for the third month in a row, according to research from XPS Pensions Group.
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NewsPPF 7800 Index shows surplus and funding improvements
On the go: The PPF 7800 Index for June shows improvements in the surplus and funding positions (on a section 179 basis) for the more than 5,000 schemes potentially eligible for entry to the Pension Protection Fund.
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NewsCovid-19 sees drop in sponsor support for DB schemes
On the go: The economic damage and uncertainty wrought by Covid-19 has seen a drop in employer support for defined benefit pension schemes, suggesting they will find it harder to meet their pension obligations as the pandemic’s fallout continues.
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NewsGreener pensions are ‘most effective’ way to fight climate change
On the go: Making a pension “green” is more effective than going vegan, stopping flying, and switching to a renewable energy provider combined, according to new research.
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NewsEmployers eye better master trust options as market matures
On the go: Investment consultancy Willis Towers Watson is predicting a secondary defined contribution master trust market could emerge as one in eight early adopters of the pension solution have revealed they will look to review their providers.
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DB transfers fall as contingent charging ban bites
A combination of lockdown and the contingent charging ban has contributed to a record low rate of pension transfers, according to LCP.
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NewsPASA launches GMP conversion guidance
The Pensions Administration Standards Association has published guidance on guaranteed minimum pension conversion for trustees striving to achieve GMP equality, providing examples of approaches that have been adopted or considered by “early movers”.
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NewsDWP issues ‘stronger nudge’ to pensions guidance consultation
On the go: The Department for Work and Pensions has opened a consultation into regulations requiring trustees and scheme managers to “nudge” individuals to obtain pensions guidance.
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NewsCalls for a ‘rethink’ as dashboards call for input closes
The Pensions Dashboards Programme’s latest call for input closed on Friday. Industry figures, though encouraged by progress made on timescales, said problems stemming from inadequate disclosure regulations and estimated retirement income remain, leading LCP to call for an implementation “rethink”.
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NewsSt James’s Place shakes up fund manager arrangements
On the go: St James’s Place Wealth Management, with £135.5bn in assets under management, has appointed new managers and terminated a manager for its newly rebranded UK fund. The manager uses a number of different advisers including Redington.
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NewsCommonwealth Bank of Australia scheme secures full buy-in
On the go: The Commonwealth Bank of Australia (UK) Staff Benefits Scheme has agreed a circa £420m full buy-in with Legal & General Assurance Society.
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NewsAltmann urges pensions triple lock reform as Sunak changes tone
On the go: Choosing to scrap the pensions triple lock just because of one year’s set of numbers is unwise, but a radical overhaul of state pension support is needed, according to former pensions minister Baroness Ros Altmann.
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NewsCovid-19 pressures accelerate rate of DB scheme closures
On the go: Analysis by the Pensions Policy Institute, sponsored by the Trades Union Congress, has shown that the pressures of the coronavirus pandemic have accelerated the rate of defined benefit scheme closures, but member outcomes are far less reliable in defined contribution schemes.
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NewsAre schemes ready for climate-related financial disclosures?
In August 2020, the Department for Work and Pensions launched a consultation on the recommendations of the Task Force on Climate-related Financial Disclosures, under which pension schemes with £5bn or more in assets, including authorised master trusts, would be required to have reporting metrics in place by this October and to publish climate risk disclosures by the end of 2022.
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NewsOver-50s fear retirement poverty
On the go: Adults aged over 50 in the UK are worried about their financial future, with almost a third admitting to concerns that they will not have enough money to live off in later life, according to research by SunLife.
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NewsFCA revamps scams campaign as further £2m lost to fraud
On the go: A total of £2.2m has been lost to pension scams in the first five months of 2021, with the Financial Conduct Authority warning that savers are nine times more likely to accept ‘advice’ from someone online than a stranger in person.
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NewsPoor choices under pension freedoms cost savers £2bn
Savers taking advantage of pension freedoms to cash out before retirement have suffered £2bn in lost returns, spurring calls for better financial education, according to analysis by LCP.
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NewsYounger workers risk losing track of pension pots
On the go: Younger workers unaware of their pension arrangements face losing track of their pension pots as the economy recovers from Covid-19.
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NewsBrunel pool to launch Paris-aligned passive fund
On the go: The Brunel Pension Partnership has licensed a Paris-aligned index, which it will adopt for a passively managed fund that it will launch in September 2021.
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NewsGovt plans green bonds issue, but should schemes take the plunge?
The UK government has an ambitious climate and environmental agenda and is set to issue its first green gilt in September 2021, with at least one more issue before the end of the year. Green gilts to the value of £15bn will be issued in the 2021-22 financial year.