All News articles – Page 166
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Chair’s statement template to ease trustee headaches
On the go: The Pensions and Lifetime Savings Association has released a new template designed to help trustees of well-run defined contribution schemes avoid being caught out by chair’s statement requirements.
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Banking association scheme signs £95m buy-in
On the go: The defined benefit scheme of the British Bankers’ Association has entered into a £95m buy-in agreement with insurer Aviva, covering 213 members’ benefits.
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John Lewis agrees six-year DB deficit payment plan
On the go: John Lewis Partnership and the trustees of its pension scheme have agreed to a six-year deficit recovery plan.
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3i buys in £650m across pensioners and deferreds
On the go: Private equity and infrastructure group 3i has announced a £650m buy-in with Legal & General.
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Pension bodies join forces to address Covid-19 concerns
On the go: Seven UK regulators and authorities have teamed up to create a guide to address savers’ most common pension concerns throughout the coronavirus crisis.
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Consumers unaware of pensions’ ESG power
On the go: The majority of consumers take steps to improve the sustainability impact of their daily lives, but fail to apply these lessons to their finances, according to a new study by master trust Nest.
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Regulator to issue new guidance on capital-backed endgame deals
The Pensions Regulator is to issue new guidance on defined benefit employers seeking to use third-party investors to back the cost of buyout, following the completion of a first-of-a-kind deal without the need for regulatory clearance last week.
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PPF: DWP is ‘key’ for Bauer solution
On the go: The Pension Protection Fund hopes to use Department for Work and Pensions data to help it implement tricky increases required by the landmark Bauer judgment, according to Sara Protheroe, chief customer officer at the PPF.
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Millions fall for pension scams amid coronavirus crisis
On the go: One in five victims of a financial scam during the coronavirus pandemic were targeted by pension fraudsters amid warnings of “low-life” scammers preying on the vulnerable
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Smart eyes alts allocations after Natixis backing
On the go: Master trust Smart Pension has attracted investment from asset manager Natixis, in a strategic partnership that the companies hope will see members gain access to the fund house's suite of alternative strategies.
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LGPS prepared for lower investment return in 2020
On the go: While the Local Government Pension Scheme had a return of 6.2 per cent in 2019, its advisory board is monitoring the current market turmoil closely and is prepared for a downturn in 2020.
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New insolvency laws could impact healthy DB schemes
On the go: New insolvency laws introduced in parliament, designed to prevent companies being forced to file for bankruptcy due to the Covid-19 crisis, could cause new hurdles for defined benefit schemes, a law firm has warned.
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Willis Towers Watson’s merger with Aon faces US lawsuit
On the go: Willis Towers Watson is facing a shareholder class action in the US due to its planned merger with Aon, which would create a worldwide insurance broker worth $80bn (£65.5bn).
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First 14 professional trustees become fully accredited
On the go: Some 14 professional trustees have become fully accredited under the Association of Professional Pension Trustees framework.
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BEIS-backed clean growth fund seeks pension capital
On the go: The Department for Business, Energy and Industrial Strategy is seeking to attract pension fund investment to a “clean growth” venture capital fund it has seeded with CCLA Investment Management.
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Regulator warns on alternative funds for DC self-select
On the go: The Pensions Regulator has warned trustees of defined contribution schemes to check they are not “unintentionally breaching” pension legislation when moving member contributions due to gating in alternative asset funds.
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After a fine innings at BW, McLean still wants to bat
A pension legend, Malcolm McLean has just stepped down as a senior consultant with Barnett Waddingham. He has received countless gongs, culminating in an OBE and two awards for outstanding achievement, but as a modest man he does not trumpet such fripperies.
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True scale of pension scams unknown, says PPI
On the go: The “true scale” of pension scams remains unknown, as only a minority are reported and data is not collected in comparable ways across the industry, the Pensions Policy Institute has warned.
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Regulator warns employers exploiting Covid flexibilities
On the go: The chief executive of the Pensions Regulator has assured MPs that despite its decision to pause enforcement activities, it will make exceptions for employers who treat its intervention as anything other than a temporary cash flow aid.
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Old British Steel scheme trustees consider buyout
On the go: The trustees of the Old British Steel Pension Scheme are considering a buyout for its 31,000 members, due to a better-than-expected funding position achieved while in the assessment period at the Pension Protection Fund.