All News articles – Page 169
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RPI inflation court ruling could cost defence company millions
On the go: The High Court ruled against an attempt by a UK defence company to change the way it calculates final salary pension increases last week, the latest decision in a string of debates that have put millions of pounds in payments to retirees at stake.
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TPR signals renewed focus on sponsor affordability
The Pensions Regulator has directed defined benefit trustees to focus on the affordability of payments into their schemes by sponsoring employers, urging collaboration to link business recovery to increased member security.
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Pensions for cash at age 35? Covid-19 scams lure distressed savers
On the go: Anxious savers are trying to cash in their pensions more than 20 years before they are allowed to do so, as they fall victim to online scammers exploiting financial distress amid the coronavirus pandemic.
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Schemes to issue pension transfer warning to savers
On the go: Pension scheme trustees are to warn members about the risks of transferring out of their defined benefit scheme amid the Covid-19 crisis.
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Mercer calls for six-month DB contribution holiday
The government has been called on to take “urgent action” and implement a six-month contribution holiday for defined benefit pension schemes, in a bid to allow sponsors to keep their businesses afloat.
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Investors tell Barclays to go further on climate commitments
On the go: Two Local Government Pension Scheme investors are to back a shareholder resolution aimed at forcing Barclays into line with the Paris Climate Agreement targets.
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Govt suspends tax rule for returning NHS workers
On the go: The government has temporarily suspended tax rules that could have seen returning NHS workers hit with a significant tax charge on their pensions income.
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Unions take govt to court over cost floor inaction
On the go: Trades unions representing firefighters have launched High Court legal action against the government, over delays to pension top-ups due under public sector scheme rules.
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Teachers scheme renews with Capita
On the go: The Department for Education has renewed its contract with outsourcer Capita for the administration of the Teachers’ Pension Scheme.
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Longevity swap investors warned over collateral calls
A spike in the UK mortality rate due to Covid-19 could raise concerns for defined benefit pension schemes that have implemented longevity hedging, as it could trigger collateral calls on their longevity swaps.
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Border to Coast seeks China equity manager
On the go: The Border to Coast Pensions Partnership is looking to appoint a specialist China equity manager, in a mandate worth between £200m and £300m.
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APPT announces provisional accreditation to sidestep lockdown
On the go: The Association of Professional Pension Trustees has unveiled a new provisional accreditation scheme.
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Suspended deficit contributions could reach £1bn
On the go: Up to £1bn in deficit contributions could be suspended this year as trustees approve payment holidays in a bid to help sponsors survive the Covid-19 crisis.
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Premier Foods sets up tasty scheme merger
Premier Foods, maker of Mr Kipling cakes, has reached a groundbreaking agreement to merge its RHM, Premier Foods and Premier Grocery Products pension schemes, a move that the company estimates could save it as much as £145m in contributions.
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Another way to give DB employers relief?
Analysis: Trustees of defined benefit schemes are being asked to make tough decisions as to whether to allow employers to change their scheduled contributions, amid the lockdown-driven economic crisis. Could changing the employer assets over which they have security help bosses free up the cash to stay afloat?
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First trustee passes professional accreditation standard
On the go: The accreditation system put in place for professional trustees has seen its first candidate pass through the process, as qualification providers eye online migration of examination processes.
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£37bn a year to flow from DB to bulk annuity providers
On the go: Demand for buy-ins and buyouts is predicted to average £37bn a year for the next decade, according to new analysis.
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Company stung by £80,000 HMRC charge for unauthorised pension loan
A light fittings company has been hit with an £80,000 scheme sanction charge by HM Revenue & Customs for making an unauthorised loan from its pension fund to an affiliated business.
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Scottish govt bows to pressure over NHS death benefits
On the go: The Scottish government has agreed that all National Health Service staff providing frontline treatment to Covid-19 patients will receive full death benefits under the NHS pension scheme, including those returning on a temporary basis.
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NewsBA trustees disembark as destination comes into view
A British Airways defined benefit scheme is shrinking its trustee board size, due to decreased workload after a buy-in and successfully weathering the Covid-19 funding storm.