All News articles – Page 155
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Schemes to pay maximum fraud compensation levy
On the go: The Pension Protection Fund has announced it will raise the fraud compensation levy to the maximum allowed by law as the number of claims rise.
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New reporting requirements for trustees to prevent pension scams
On the go: The Pension Scams Industry Group has updated its code of good practice on combating pension scams, making new recommendations to trustees.
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Self-employed missing out on £4bn pension contributions
On the go: Some 4.3m self-employed individuals are missing out on £4bn in employer pension contributions a year, according to new research.
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Supreme Court rejects BackTo60 state pension appeal
On the go: An appeal against state pension age changes for women born in the 1950s has been denied by the Supreme Court, leaving campaigners disappointed after hopes of a return to the old pension age.
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NewsUSS rejects attempt to reopen controversial valuation
The Universities Superannuation Scheme has rejected a request by Universities UK, the advocacy group representing 340 higher education employers, to revisit the controversial assumptions behind its most recent valuation.
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Mercer and L&G to target net-zero, Aviva launches equity fund
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with Mercer and Legal & General reducing carbon emissions, and Aviva’s new equity fund launch.
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Pandemic dampens DC membership growth in 2020
On the go: The increase in defined contribution members slowed to 11 per cent in 2020 as a result of the pandemic, compared with 17 per cent in the previous year, according to data from the Pensions Regulator.
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PensionBee targets £55m capital raise as IPO plans confirmed
On the go: PensionBee is aiming to raise £55m through issuing new shares, as the pension provider confirms its intention to list on the London Stock Exchange.
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Guidance brings ‘welcome clarity’ for trustees over financial advice
On the go: New guidance from the Financial Conduct Authority and the Pensions Regulator has clarified what constitutes unregulated financial advice, allowing schemes to offer cash equivalent transfer value quotations and annuity estimates, but banning drawdown illustrations.
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Third of schemes had data breaches in the past year
On the go: One-third of pension schemes have had their data breached in the past 12 months, according to new research.
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Brunel Pension Partnership reduces costs by £34bn
On the go: The Brunel Pension Partnership has published its annual report highlighting the cost saving incurred and the increased opportunities for stewardship, diversification and climate analysis for its members.
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Women have up to 45% less income at retirement than men
On the go: Women have 25 to 45 per cent less in their pension pots at retirement than men, according to new research.
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NewsMPs call on government to mandate anti-scam intelligence sharing
MPs on the Work and Pensions Committee have called on the government to beef up anti-scam intelligence sharing via legislation, amid warnings tech giants are profiting from pension scam adverts.
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Pension contributions bounce back following first lockdown
On the go: Employee contributions to defined contribution schemes jumped by 12 per cent after parts of the economy were restarted following the UK’s first lockdown, new data has revealed.
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HMRC sets final GMP reconciliation deadline
On the go: HM Revenue & Customs has set July 31 as the final deadline for defined benefit schemes to request their final guaranteed minimum pensions reconciliation data cuts.
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NewsIndustry facing trustee exodus due to TPR’s new powers
Concerns about the reach and remit of the new powers afforded to the Pensions Regulator have not been addressed by its guidance or draft policy, and are even forcing some trustees to quit, Aon has said.
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Church of England publishes first stewardship report
On the go: The Church of England Pensions Board has published its first annual stewardship report, setting out its future priorities, which focus on climate change and extractive industries.
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TPR clarifies expectations in settlements policy statement
On the go: The Pensions Regulator published a settlements policy statement on Thursday with the overarching aim that these agreements offer fair and appropriate outcomes.
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General Motors completes £53m bulk annuity deal
On the go: General Motors’ Vauxhall Associated Companies Pension Fund has completed a £53m bulk annuity purchase with Aviva.
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Pension schemes urged to raise alarm over scams
On the go: Pension schemes are being urged to raise the alarm over scams following a concerning long-term drop in reporting.