All News articles – Page 208
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News
Pension provider calls for legal duty to be placed on dashboard operators
An auto-enrolment pension provider is calling on the government for a legal duty to be placed on pensions dashboard operators to put consumer interests first, as a new report warns they could be put at risk without it.
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FCA proposes rules on investment pathways
On the go: The Financial Conduct Authority has set out its second proposed package of remedies from its Retirement Outcomes Review, in a consultation on investment pathways, ensuring investment in cash is an active decision, and actual charges information.
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Pension freedoms see more than £7bn withdrawn in 2018
On the go: The UK’s fondness for pension freedoms continues unabated, with £1.9bn withdrawn from pension schemes under flexible pension rules in the fourth quarter of 2018, according to the latest HMRC figures published on Friday.
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XPS: ‘GMP equalisation will be less costly than feared’
On the go: The cost of addressing inequality in guaranteed minimum pensions may be a lot lower than expected at less than 1 per cent of total liabilities for over half of all schemes, according to consultancy XPS Pensions.
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IFS: Bad assumptions damage annuity value assessment
On the go: Declining annuity sales are driven by individuals consistently underestimating how long they will live, according to new research form the Institute for Fiscal Studies.
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Government provides £329m safety net to Nest
On the go: The government has given Nest, the workplace pension provider, a contingent liability guarantee of £329m to enable it to comply with the tough new master trust regime amid accusations of unfair state aid.
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BSPS review calls for more guidance for schemes on restructuring
On the go: An independent review of the communications and support provided to steel workers as part of the British Steel Pension Scheme ‘Time to Choose’ exercise has called for better guidance for trustees to help them plan and manage a restructuring.
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NewsBritish Steel review calls for better member support in restructuring
A review of the communications and support provided to steelworkers during the British Steel Pension Scheme ‘Time to Choose’ exercise has called for legislative changes, regulatory collaboration and better guidance for trustees to help them manage a restructuring.
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Merseyside goes green with £400m multi-factor equity allocation
Merseyside Pension Fund has committed £400m to a new climate-friendly multi-factor fund, developed in collaboration with FTSE Russell, as part of its strategy on managing environmental, governance and social risks.
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DB providers lag on administration with months-long info delays
Defined benefit pension providers are lagging behind their defined contribution counterparts when it comes to providing information necessary for advising members on matters such as pension freedoms, recent research has shown.
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Smart absorbs Lighthouse master trust as consolidation intensifies
On the go: Financial advice business Lighthouse Group has decided not to pursue authorisation for its master trust, handing over employers and members to competitor Smart Pension.
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24 companies wound up since 2015 due to pensions misuse
On the go: Since 2015, the Insolvency Service has applied to the courts to wind up 24 companies involved in pensions misuse, according to the government agency.
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Rookes and Hirons-Wood join Pension SuperFund trustee board
On the go: Defined benefit consolidator the Pension SuperFund has announced the addition of two further trustees to its board.
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Health secretary in talks with chancellor over pensions tax relief
On the go: Matt Hancock, the secretary of state for health and social care, is in discussions with the chancellor over the issue of pensions tax relief and the impact it has on GP retention.
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APS trustees given go ahead to use scheme assets to fund appeal
On the go: Trustees of the Airways Pension Scheme have been given permission to use scheme assets to fund an appeal to the Supreme Court over APS discretionary increase litigation.
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FCA warns of looming retirement poverty prospect
On the go: Inadequate retirement incomes that do not meet consumers’ expectations remain the central challenge for the pensions industry, according to the Financial Conduct Authority.
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Fees can cut returns by 25 per cent, finds ESMA
On the go: The EU’s financial regulator has warned of the impact charges can have on savers’ returns, in a sign of further pressure on investment managers to control fees.
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Accounts manager admits workplace pensions cover-up
On the go: A Bradford-based accounts manager lied to investigators to try to hide the fact that restaurants had not given their employees workplace pensions.
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PIC invests further £125m in University of Exeter
On the go: Pension Insurance Corporation has completed an additional £125m investment with University Partnerships Programme, allowing UPP to design, build, fund and operate affordable accommodation for the University of Exeter.
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Half of FTSE 100 liabilities funded to buyout levels by 2029
Full buyout was once a distant dream for many sponsors of UK defined benefit schemes.