All News articles – Page 186
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Moving house causing savers to lose £19.4bn in pensions
On the go: There are about 1.6m pension pots worth £19.4bn that are going unclaimed due to savers failing to contact their pension provider when they move house, according to the Association of British Insurers.
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PS Aspire pulls out of master trust market
On the go: Punter Southall Aspire has withdrawn its master trust from the market after concluding that it was unlikely to reach the necessary scale.
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Deloitte considers pension contribution cut
On the go: Accountancy firm Deloitte is proposing to cut the employer pension contribution for its UK staff in an attempt to cut costs amid the coronavirus pandemic.
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Pensions Regulator names new auto-enrolment director
On the go: The Pensions Regulator has appointed Mel Charles as director of automatic enrolment, following the departure of Darren Ryder earlier this year.
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Insurer investment risks could drag on buyout volumes
Variations in the levels of investment risk taken by life companies providing insurance for defined benefit pension promises could distort and disrupt the progress of the pensions derisking market, according to experts.
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Govt extends scheme pays deadline for NHS workers
On the go: The government has extended the National Health Service scheme pays deadline by three months to stop workers being hit by unexpected tax bills as a result of the tapered annual allowance.
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Supreme Court lifts ban on political investments by local council pensions
On the go: Local council pension schemes can now invest against the government’s foreign policy, after the Supreme Court ruled a ban on politically motivated boycotts was unlawful.
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Return of the zombies: Can trustees ‘game’ PPF?
Defined benefit trustees linked to struggling employers face tough decisions about whether to tip their sponsors into insolvency or increase their burden on the Pension Protection Fund amid the onset of a global recession, in what experts have called a regulatory grey area.
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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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Regulator concerned by master trust investments weaknesses
Investment strategies pursued by some of the UK’s authorised master trusts are exposing pension scheme savers to unnecessary risks, according to the Pensions Regulator.
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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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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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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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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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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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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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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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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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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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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.