All News articles – Page 135
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NewsCloud-based data recovery service wins industry praise
A new cloud-based service promising independent data backup facilities for pension schemes has won praise from industry experts, who hailed it as an “innovative solution” to the rare but worrisome prospect of administrator failure.
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NewsNest to invest £3bn into infrastructure equity
On the go: Master trust Nest has appointed CBRE Caledon and GLIL Infrastructure to invest £3bn into infrastructure equity by the end of the decade.
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NewsWillis Towers Watson and Wales LGPS pool target carbon emissions
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with Wales Pension Partnership and Willis Towers Watson reducing their carbon emissions, and new research from PGIM that shows almost half of investors are overlooking climate risks.
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Actuaries call for simplified pensions tax system
On the go: The Association of Consulting Actuaries has leant its voice to those calling for a simplified pensions tax system, but cautioned that any changes must be “realistic, manageable and proportionate”.
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NewsLGPS Central launches £680m Multi-asset Credit Fund
On the go: LGPS Central, which manages around £23bn of assets for eight Local Government Pension Scheme funds worth a collective £45bn, has launched a £680m Multi-Asset Credit Fund.
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NewsReuters Pension Fund incorporates ESG factors to improve returns
The £2.8bn Reuters Pension Fund is integrating environmental, social and governance factors into its portfolio in order to improve risk-adjusted returns, while achieving a funding level above 100 per cent in 2020.
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Most savers expect companies in their pension to pay living wage
On the go:A third of savers (33 per cent) would prefer their pension provider to divest from companies that do not pay the living wage, rather than engage with them to drive better behaviour, according to research from PensionBee.
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DB transfer values recover after February fall
On the go: Defined benefit transfer values increased in March to recover around a third of the drop seen in February, according to figures from XPS Pensions Group.
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TPR takes three suspects to court over multimillion-pound fraud
On the go: Three people appeared in court on Tuesday following an investigation by the Pensions Regulator into a multimillion-pound pension fraud.
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Dashboards milestone reached as PDP looks for architecture supplier
On the go: The Pensions Dashboards Programme has issued an invitation to tender for a supplier to provide digital architecture.
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NewsOmbudsman sides with Pilots’ trustee on accrual rate changes
The Pensions Ombudsman has sided with the trustee of the Pilots’ National Pension Fund in its move to change the scheme’s benefits accrual rate, noting that the decision was reached “following a reasonable decision-making process”.
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UK DB scheme surplus rises £19.6bn in March
On the go: The aggregate surplus of the 5,318 defined benefit schemes in the Pension Protection Fund 7800 Index has increased by £19.6bn in March.
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NewsAon criticises USS valuation assumptions as ‘overly prudent’
Aon has criticised the methodology and assumptions underlying the Universities Superannuation Scheme trustee’s response to the USS valuation, accusing it of being overly prudent and failing to properly justify several of its assumptions.
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PensionBee valued at £346m ahead of IPO
On the go: Consolidator PensionBee could be valued at between £346m and £384m when it floats on the London Stock Exchange.
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BT, Ford and M&S schemes seek judicial review on RPI changes
On the go: The trustees of BT, Ford and Marks and Spencer pension schemes announced on Friday that they are seeking a judicial review of the decision to replace the retail price index with the consumer price index including housing costs from 2030.
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NewsBridging pension option smooths Rolls-Royce scheme restructure
The introduction of a bridging pension option in the Rolls-Royce UK Pension Fund has helped smooth the transition for its members following a scheme restructure announced in May 2020.
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Calls for government to review minimum pension age hike
On the go: Wealth manager Quilter has called on the government to reverse proposals to raise the normal minimum pension age to 57, saying the move is complex and will do little for people’s retirements.
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Opperman warns on pension scams rise in new tax year
On the go: Pensions minister Guy Opperman has warned savers to be vigilant when reviewing their retirement plans to avoid being caught out by pension scammers operating online.
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Independent schools’ TPS phased withdrawal to start in August
On the go: Independent schools will be allowed to gradually phase out their participation in the Teachers’ Pension Scheme, with the new regulations coming into force in August.
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Industrial action threats in response to new USS employer consultation
On the go: The University and College Union has once again hinted that industrial action may be called for after accusing Universities UK of failing to stand up for members.