All News articles – Page 206
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Professional trustee standards created to encourage better practices
The introduction of formal standards for professional trustees has been welcomed as a vital step in improving scheme governance, but concerns remain over whether the framework is robust enough.
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Aon mulling offer for Willis Towers Watson
On the go: Insurance brokerage and consulting giant Aon is reportedly preparing to submit a bid for rival Willis Towers Watson, in a move that would send shockwaves through the pensions advisory industry.
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Trustee who used scheme as ‘personal piggy bank′ pleads guilty
On the go: A Lancashire accountant has pleaded guilty to fraud after transferring more than £280,000 out of a pension scheme on which he was a trustee.
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NewsTrustees not responsible for bad IFA transfer work, scheme professionals say
Advisers to pension schemes have hit out at proposals that British Steel Pension Scheme should award discretionary payouts to members who mistakenly left the plan, saying it shifts the blame for bad financial advice on to trustees.
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PTSWG publishes new set of standards for professional trustees
On the go: Professional trustees will soon have to pass an initial application process to hold accreditation, and will have to demonstrate that they meet a new set of standards published today by the industry-led Professional Trustee Standards Working Group.
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NewsRBS scheme slashes equities after £2bn contribution
The Royal Bank of Scotland's UK defined benefit schemes have dramatically cut their exposure to equities, derisking their portfolios into corporate and government bonds to improve the plans' risk level.
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LifeSight first master trust to gain TPR authorisation
On the go: Willis Towers Watson’s LifeSight is the first master trust to gain authorisation, the Pensions Regulator confirmed on Wednesday.
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Unregulated companies source of 52% of all scams
On the go: More than half of all scams can be linked back to unregulated introducers or advisers, according to research by the Pension Scams Industry Group.
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PPF beset by fresh court proceedings over 50% payout level
On the go: Court proceedings have started against the Pension Protection Fund, seeking to challenge its approach for calculating any increases due to its members as a result of a European Court of Justice ruling last September.
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NewsNorfolk Pension Fund wins legal case against US biotechnology company
The Norfolk Pension Fund has won a court case against an American pharmaceutical company and the company’s CEO and board chairman, with a jury finding them liable for securities fraud.
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Mercer Marsh Benefits unifies in the UK
On the go: Mercer Marsh Benefits has regrouped its UK and benefits teams under the MMB brand. The restructure follows the acquisition of Jardine Lloyd Thompson Group by Marsh & McLennan, the parent company.
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Significant decrease in number of AE compliance notices issued
On the go: The number of auto-enrolment compliance notices issued by the Pensions Regulator reduced substantially during the final two quarters of 2018.
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Pensions minister confirms commitment to CDC schemes
On the go: The minister for pensions and financial inclusion, Guy Opperman, has confirmed that the government intends to proceed with legislation to implement collective defined contribution schemes.
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Cardano agrees acquisition of Now Pensions
On the go: Pensions risk and investment management specialist Cardano has agreed to acquire 100 per cent of workplace pension provider Now Pensions from Danish pension fund Arbejdsmarkedets Tillaegspension.
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Only 8% of UK investors ready to comply with EU SRDII
On the go: A tiny proportion of institutional investors across Europe are ready to comply with the EU Shareholder Rights Directive II coming into force this year.
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UK pension schemes’ deficit falls to £23.1bn
On the go: UK pension schemes have beaten the January blues, with their total deficit down by £8.8bn, according to recent Pension Protection Fund figures.
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Relief for pension schemes as CPI falls to 1.8 per cent
On the go: UK pension schemes will get a small measure of comfort from the current inflation figure, with the consumer price index falling for the third month in a row to 1.8 per cent in January, the lowest level since January 2017.
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'Fraudster families' running pension scams worth millions of pounds
On the go: Organised crime groups led by families or married couples are running multimillion-pound pension scams, according to the Pensions Regulator.
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New criminal sanctions could be difficult to enforce, experts say
The government has said that it plans to go ahead with proposals for new criminal offences to prevent and penalise mismanagement of pension schemes, but enforcing these sanctions may prove challenging, experts say.
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IGC reports are ‘vague’ and lacking information, says Labour MP
The effectiveness of independent governance committees has come under the spotlight in the Work & Pensions Committee’s hearing on pension costs and transparency inquiry, with the bodies blasted for lacking information.