All News articles – Page 174
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Cheshire Pension Fund questions members on investments and ESG
The £5.8bn Cheshire Pension Fund is gauging the views of its members and participating employers on its investment strategy and environmental, social and governance policy.
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Trustee boards display unacceptable lack of diversity
On the go: The Pensions and Lifetime Savings Association has published a guide to improving diversity and inclusion in pensions, amid enduring concerns over groupthink and prejudice in the trust-based system.
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Pension bill progress halted due to emergency health laws
On the go: Progress on the pension schemes bill has come to a halt following the government’s commitment to hurry through emergency health legislation to combat the effects of coronavirus.
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Charge cap could be a barrier to CDC, experts fear
A collective defined contribution pension scheme for Royal Mail employees is inching closer to the starting gate, but an amendment to the pension schemes bill to impose a charge cap could derail other nascent CDCs from ever getting off the ground, according to experts.
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Tax changes pose admin challenge for pension schemes
On the go: Pension specialists have welcomed the announced changes in pensions tax relief in this week’s Budget, but have pointed out that it brings an added administration challenge to schemes.
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Opperman to legislate for DC consolidation
On the go: The minister for pensions and financial inclusion has unveiled plans to force the consolidation of subscale defined contribution arrangements.
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NewsTCFD reporting confirmed as climate guidance takes shape
Trustees should stress-test their portfolios against a range of climate change scenarios, according to provisional guidance launched on Thursday, as pensions minister Guy Opperman warned of consequences for those in dereliction of their duties.
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Clara Pensions in talks with investors for new funding
On the go: Clara Pensions is seeking to raise between £200m and £300m from new investors, after a first fundraising in 2018.
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TPR alerts trustees for contingency planning amid Covid-19 fears
On the go: The Pensions Regulator has reminded trustees of the need for appropriate monitoring and contingency planning to be able to continue to run their schemes amid a coronavirus outbreak.
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Maps refuses to give public dashboard launch date
On the go: The chair of the Money and Pensions Service has declined to give a launch date for the public pensions dashboard, since there are too many variables to be considered at this time.
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LGPS pool chair: Fragmented system cannot continue
On the go: The UK's private sector pension schemes will be forced to consolidate in the same way as the Local Government Pension Scheme, according to the chair of the Brunel Pension Partnership.
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USS likely to breach deficit trigger
The Universities Superannuation Scheme could breach funding triggers relating to the size of its deficit, as coronavirus continues to cause turmoil in markets.
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Chancellor launches probe into net pay anomaly
On the go: The government is launching a consultation to address an anomaly in the pensions tax relief system that sees low earners missing out on a 20 per cent boost on their pension contributions.
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BoE adds to DB woes as stimulus struggles to ease covenant strain
On the go: The Bank of England's decision to slash its base interest rate to 0.25 from per cent 0.75 per cent will swell defined benefit liabilities, according to experts, who doubt the ability of monetary policy to ease covenant concerns but say Budget measures may offer some help.
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Budget 2020: AA taper thresholds hiked by £90k
On the go: Chancellor of the exchequer Rishi Sunak has unveiled plans to raise the point at which tapering of the annual allowance kicks in by £90,000 as of next month.
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RPI to drop 1% per year with proposed reform
The UK Statistics Authority is proposing to align the retail price index with the consumer price index including housing costs, which is expected to lower its annual rate by an average of 1 percentage point.
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Tesco to clear pension deficit with Thailand and Malaysia business sale
On the go: Tesco will be making a one-off £2.5bn pension contribution from the sale of its businesses in Thailand and Malaysia that is expected to eliminate the current scheme deficit.
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DB deficits rise £50bn as coronavirus hits markets
On the go: The aggregate deficit of the 5,422 defined benefit schemes in the Pension Protection Fund 7800 Index rose by £49.9bn in February.
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Smart Pension to take on Welplan Pensions Master Trust
On the go: Welplan Pensions Master Trust is consolidating with Smart Pension, after a decision not to seek master trust authorisation.
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MPs question TPR’s action on Norton pension schemes
On the go: The chair of the Work and Pensions select committee, Labour MP Stephen Timms, has written to the Pensions Regulator questioning its action over the case of Norton Motorcycles and the three pension schemes invested in the company.