All News articles – Page 156
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Industry expects TPR influx of clearance applications
More than 90 per cent of pension professionals have said they expect clearance applications to increase in light of the Pensions Regulator’s new criminal powers.
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TPO publishes guidance for trustees on IFA appointments
On the go: The Pensions Ombudsman has published guidance for trustees when appointing financial advisers for their members, and how they can protect themselves from complaints.
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Industry bodies launch small pots working group
On the go: The small pension pots working group had its first meeting on Wednesday, with a team of experts appointed to propose solutions to the current issues caused to auto-enrolment savers and schemes.
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NewsGovernment calls for greater emphasis on social factors
The government has called for a greater emphasis on the social element of pension schemes’ environmental, social and governance strategies, as there is a concern trustees are ill-equipped to deal with these factors.
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Govt proposes new rules for companies’ climate disclosures
On the go: The government is consulting on new rules to mandate climate-related financial disclosures by companies, which will aid pension schemes’ compliance on environmental, social and governance factors.
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Smart Pension invests in private market illiquids
On the go: The £1.5bn Smart Pension master trust has introduced private market illiquids into its default fund after developing a solution in partnership with Natixis Investment Managers.
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Merchant Navy plans to insure all liabilities by 2025
On the go: The £4.1bn Merchant Navy Officers Pension Fund plans to insure all of its remaining liabilities by 2025, as it is set to undergo its next triennial actuarial valuation at the end of the quarter.
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Alternative funding structures attracting 75% of DB sponsors
On the go: As many as three in four defined benefit scheme sponsors could be using contingent funding as an alternative to the traditional deficit recovery contribution route, according to analysis from LCP.
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Govt chooses full indexation of GMPs for public sector schemes
The Treasury has decided to abandon the idea of converting guaranteed minimum pension benefits in public sector schemes, opting for a permanent extension of full indexation, which will be more expensive for private pension funds that are forced to mirror government rules.
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Govt to clear up 'scheme pays' issues in McCloud remedy
On the go: The government will amend pension tax rules to make it easier for those who incur annual allowance charges as part of McCloud remedies to pay these through the pension schemes.
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Government to review DB consolidators taxation regime
On the go: The government is to review the taxation framework for defined benefit consolidators, which will occur alongside the work being done by the regulator in this area.
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PensionBee plans London stock exchange float
On the go: Pension consolidator PensionBee is considering floating on the London Stock Exchange, which it says will allow it to invest in future growth.
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Suspect in £13.7m pension fraud extradited to UK
On the go: An individual has been extradited from Spain in connection with a £13.7m pension fraud in a criminal case being brought by the Pensions Regulator.
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TPR: 'Greater need’ for schemes to reconcile data due to Covid-19
On the go: Due to the current pandemic, there is a “greater need” for accurate data reconciliation, according to Louise Sivyer, policy principal at the Pension Regulator’s regulatory policy directorate.
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Pension schemes’ liabilities overstated up to £60bn
On the go: Defined benefit schemes’ liabilities may be overstated from 1.5 per cent up to 3.5 per cent following the Covid-19 pandemic, according to pensions consultancy XPS.
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TPR to test employer resources in contribution regime
On the go: The Department for Work and Pensions has proposed that the Pensions Regulator includes a new employer resources test in its contribution regime, which will be used to determine whether an act or failure to act has occurred.
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NewsPensions dashboards’ 2023 target ‘under threat’
The target date of 2023 for the introduction of the pensions dashboards is under threat from a lack of clarity in several key areas, the Society of Pension Professionals has warned.
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DWP consults on removing charge cap DC investment barrier
On the go: The Department for Work and Pensions on Friday opened a consultation into whether the charge cap acts as a barrier to defined contribution scheme investments in a range of alternatives, such as venture capital, illiquids and growth assets.
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ESG integration boosts portfolio returns
On the go: Integrating environmental, social and governance factors into investment decision-making across all asset classes will lead to increased portfolio returns, according to Aon.
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£10,000 auto-enrolment threshold ‘should be removed’
On the go: The £10,000 threshold below which people do not qualify for auto-enrolment should be removed to help underserved groups, like women and the self-employed, build up pension wealth, a Trades Union Congress pensions conference heard on Tuesday.