All News articles – Page 200
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More than £90bn saved in workplace pensions in 2018
On the go: Auto-enrolment continues to motor ahead with £90.4bn saved in workplace pensions last year, up £7bn from 2017, according to recent figures published by the Department for Work and Pensions.
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ECJ ruling could force PPF to provide buyout uplift
On the go: An opinion given to the European Court of Justice by its Advocate General could mean that defined benefit lifeboats like the Pension Protection Fund have to cover the entire value of members’ benefits when their sponsor becomes insolvent.
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Investor not warned before Woodford locked in its cash
On the go: Kent County Council’s pension fund claimed on Tuesday it was not warned of Woodford Investment Management’s intention to cease trading, as the investment manager locked in investors’ cash to its flagship fund.
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NewsPPF could soon face court challenge on CVA stance, says barrister
The Pension Protection Fund could soon face a challenge to the way it acts in company voluntary arrangements, according to one legal expert, as it is seen as a ‘super creditor’ with preferential treatment in these restructuring processes.
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Govt admits its pension forecasts have ‘significant’ inaccuracies
Pensions minister Guy Opperman was forced to admit “significant” problems with inaccurate state pension forecasting on Tuesday, raising fears hundreds of thousands of pensioners could be paid less than forecast.
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Housing secretary: Let young people raid pension pots for housing
Young people should have access to pension pots to help fund the deposit for their first home, housing secretary James Brokenshire said on Monday, raising the prospect of a rewrite of the UK’s pension rules.
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Tackle ‘motherhood pensions penalty’, Which? urges government
Women who take time off work to care for their children face a pensions gap of up to £15,000, a report released on Monday by Which? found.
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HMRC withdraws appeal in pensions tax case
HM Revenue & Customs has dropped a £400k legal battle with a pension saver who inadvertently exceeded his lifetime tax-free allowance, making further litigation more likely.
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ESG risks could mean shallow returns for fish farming investors
On the go: Climate change could cripple the $230bn (£182bn) aquaculture industry, posing a hazard to pension fund investors, a new report by the Farm Animal Investment Risk and Return Initiative has revealed.
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UCU chief urges Trinity College to backtrack on USS exit
On the go: The University and College Union has written a last ditch open letter urging the fellows of Trinity College at the University of Cambridge to reconsider their withdrawal from the Universities Superannuation Scheme.
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Former charity chief pleads not guilty in £250k fraud
On the go: The former head of a charity for the disabled has pleaded not guilty to defrauding the charity’s pension scheme at a hearing at Winchester Crown Court on Tuesday.
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NewsResign over pensions dispute, RMT urges Grayling
The UK’s railway union called for the resignation of transport secretary Chris Grayling on Thursday, threatening strike action over the escalating railway procurement row.
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DB members transferring face adviser shortage as regulations bite
On the go: Nearly seven out of 10 advisers are wary of advising on defined benefit transfers, according to Aegon Research.
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AMNT blasts managers’ ‘blanket refusal’ to accept scheme voting policies
On the go: The Association of Member Nominated Trustees has lodged a formal complaint with the Financial Conduct Authority as asset managers of pooled funds, in almost a “blanket refusal”, are not accepting the stewardship voting policies of their pension scheme clients.
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600 Group completes £201m buyout with PIC
On the go: Yorkshire-based engineering firm 600 Group has finalised the buyout of its UK pension scheme liabilities with Pension Insurance Corporation.
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TPR replaces DC pension trustees at Dunnes Stores
On the go: Pension trustees at Northern Irish high street retailer Dunnes Stores have been stopped by the Pensions Regulator from running the company’s defined contribution scheme.
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Schemes set to face UK credit capacity crisis
On the go: With two-thirds of FTSE 350 pension schemes in negative cash flow, fears are mounting that there may not be enough high-quality assets to go around.
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MoJ underpays pension payments to 25 judges
On the go: The Ministry of Justice has short-changed 25 members of the Judicial Pensions Scheme who have been underpaid in their pensions. The underpayments totalled £53,917.
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Stagecoach announces next wave of legal action against DfT
On the go: Stagecoach started the second wave of its legal action against the Department for Transport on Friday, claiming it was illegally excluded from three rail franchise contests in April over pensions liabilities.
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Plumbers’ scheme set to close to future accrual
On the go: The multi-employer defined benefit scheme for the plumbing industry will close to future accrual from June 30, despite an apparently healthy funding level.