All News articles – Page 142
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News
Post-Brexit Solvency II reform an opportunity to free up capital
On the go: Brexit affords the UK an opportunity to revisit and reform Solvency II legislation, freeing up capital that can then be used to further the post-Covid economic recovery.
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MPs to examine savers’ options when accessing pensions
On the go: The Work and Pensions Committee will examine the options available to savers when they come to access their pensions, which is the second part of its inquiry into pension freedoms.
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NewsLGPS funds have £10bn invested in fossil fuels
Data crunch: Despite recent initiatives against climate change, Local Government Pension Scheme funds still have £9.7bn invested in fossil fuel companies, according to new research.
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BA agrees deal with trustees to defer £450m deficit contributions
On the go: British Airways has announced an agreement with its New Airways Pension Scheme to defer £450m of pension deficit contributions.
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Uber ruling may not solve gig worker pensions issue
On the go: The Supreme Court may have opened the door to workplace pension schemes for gig workers by ruling that Uber drivers are workers — but former pensions minister Sir Steve Webb warned the issue may not yet be resolved.
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Quarter of schemes don’t have adequate cyber crime breach plan
On the go: A quarter of trustees have confessed their scheme does not have an adequate cyber crime breach plan, despite considering cyber crime as a top risk, according to a new report from Crowe.
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Railways Pension Scheme strengthens climate reporting focus
On the go: The £31bn Railways Pension Scheme has outlined its expectations for portfolio companies on how they deal with key corporate governance and sustainability issues in its updated voting policy.
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Calls for DWP to change chair’s statement rules
On the go: The Department for Work and Pensions is to publish a review of the effectiveness of defined contribution chair’s statements in April, which has prompted some specialists to call for a major rethink.
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First UK Bus hikes deficit payments to £33m after TPR intervention
On the go: Intervention by the Pensions Regulator has resulted in First UK Bus increasing deficit repair contributions to its defined benefit scheme from £18m to £33m a year.
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Most savers unaware of schemes’ climate change endeavours
On the go: Three-fifths of workplace pension members do not know if their scheme is taking any action to combat climate change, according to a survey by the Pensions and Lifetime Savings Association.
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Schemes’ industry investments lag behind climate targets
On the go: Pension schemes with investments in heavy industry like steel, cement, aluminium and paper are likely to find them lagging behind the Paris agreement’s targets, with 86 per cent failing to align with a pathway to “2C or below by 2050”.
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NewsFinancial wellness: DC sponsors want more from their providers
Data crunch: Sponsors and fiduciaries of UK defined contribution schemes want their providers to offer more than a core pension product.
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Deutsche Bank Pension Scheme completes buy-in
On the go: The £4.5bn Deutsche Bank (UK) Pension Scheme has entered into a buy-in agreement with Legal & General Retirement Institutional.
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NewsOpinion split on Pension Schemes Act implications
A survey carried out as part of a webinar by law firm Sackers has laid bare a deep divide in the industry over powers afforded by the Pension Schemes Act.
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Schemes should not ‘mindlessly chase’ illiquidity premium
On the go: The chief investment officer of the £19bn Local Pensions Partnership has criticised asset managers promising unrealistic returns from illiquid assets, arguing that they no longer provide the same premium they once did.
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Industry calls on HMRC to help solve GMP tax issues
On the go: Although welcoming the new guidance from the Pensions Administration Standards Association on guaranteed minimum pensions equalisation tax issues, industry voices are calling for more collaboration from HM Revenue & Customs as several problems remain unsolved.
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Arcadia schemes could have enough assets to survive outside PPF
On the go: Arcadia pension scheme members could receive a greater portion of their savings after a string of property and infrastructure sales raised enough capital to bring them out of the Pension Protection Fund.
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NewsDerisking trend ramped up at end of 2020
Derisking trend rampedup at end of 2020Data crunch: Derisking continues to be the word of the moment for defined benefit corporate pension schemes, with bulk annuity deals and the pursuit of low-volatility portfolios ramping up in the last quarter of 2020Enterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica ...
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Pension Protection Fund steps into social housing
On the go: The £36bn Pension Protection Fund has provided £65m of an £85m funding deal to refinance Monmouthshire Housing Association’s entire loan portfolio.
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Government reverses course on public sector exit payments
On the go: The government has announced it is to disapply the restriction on public sector exit payments that came into force in November.