All News articles – Page 213
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News
Barnardo's scheme loses Supreme Court RPI appeal
On the go: Children's charity Barnardo's may not change the inflation protection it provides to members of its defined benefit scheme, the Supreme Court has ruled.
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NewsSupreme Court: Barnardo's wording does not allow RPI/CPI switch
The Supreme Court’s rejection of an attempt by Barnardo’s to downgrade its pension increases is a reminder that courts are unlikely to bend rules to accommodate the commercial needs of defined benefit sponsors, according to legal experts.
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OPDU launches independent pension trustee liability policy
On the go: The Occupational Pensions Defence Union has launched a pensions trustee policy aimed at individual independent trustees in the UK.
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NewsImperial Brands’ proposal to disband member forum ‘disappointing’
Imperial Brands is looking to discontinue a consultative committee at its Imperial Tobacco Pension Fund, arguing that the benefits gained by holding the forum do not warrant the cost, workload and logistical efforts required to run the twice-yearly meeting.
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Two in five employees are approaching retirement ‘blindfolded’
On the go: Forty per cent of employed 46 to 55-year-olds do not know how much they have saved for retirement, a recent survey has found.
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Self-employed back expansion of AE to cover gig economy
On the go: Self-employed workers want government help to save for retirement and would back new laws to expand auto-enrolment or to make saving for retirement compulsory, new research from Prudential shows.
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CDC consultation aims to avoid Dutch pitfalls
Collective defined contribution schemes will be designed to minimise intergenerational unfairness, according to the Department for Work and Pensions, as it announced plans to legislate for the benefit structure in late 2019.
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Pension freedoms withdrawals reach record high
On the go: The Treasury’s pension freedoms tax bonanza continues, as record sums are being withdrawn.
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University of Manchester staff vote for strike action over pension closure
On the go: Support staff at the University of Manchester have voted overwhelmingly to take strike action over plans to cut and close their pension scheme.
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Accountant fined £6,857 for providing false information to avoid AE duties
On the go: The accountant of a London cafe has been ordered to pay £6,857.50 after he admitted falsely claiming to the Pensions Regulator that staff had been enrolled into pensions.
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NewsThousands of Nationwide scheme members sign up to new portal
Nationwide Pension Fund has seen successful take-up of its new online pensions portal among members, as the scheme continues to put its faith in online communications and works on new developments for the portal.
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Aon: Do not 'just kick the tyres' on historic valuation approaches
On the go: Aon is urging sponsors and trustees of UK defined benefit schemes to do more than 'just kick the tyres on historic valuation approaches' and check their actuarial valuation choice is right for their scheme.
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Govt must act on social care as crisis looms with rise in ageing population
On the go: A quarter of UK residents will be aged 65 years or over within the next 50 years. This is a result of improvements in life expectancy.
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Pensions gender pay gap reaches 40 per cent
On the go: Women retire with pension incomes almost 40 per cent lower than men on average, according to new research, despite recent legal efforts to ensure equality in the state pension system.
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Default fund takes on a green hue at WTW master trust
On the go: Following demand from members, LifeSight, Willis Towers Watson’s defined contribution master trust, will allocate around half of the equity investments within its default fund into environmental, social and governance investment strategies by Q4 2018.
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Pension giants challenge companies on climate lobbying
A consortium of pension funds with £1.6tn in assets has written to 55 large companies on their approach to climate lobbying, as government and regulators take action on Environmental Audit Committee recommendations to improve pension fund governance.
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Schemes shift attention from interest rates to inflation hedging
On the go: Inflation hedging has seen a sharp rise with activity up by 22 per cent in the third quarter of 2018, to around £24.2bn. Total interest rate hedging activity was around £29.2bn in the third quarter, a 1 per cent fall according to the BMO Global Asset Management.
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More than half of small firms have switched AE provider
On the go: In a fluid market, more than half of small and medium-sized businesses have already switched their auto-enrolment provider. Most firms cited value for money or investment performance as the reason for the move.
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Pension savers overtaxed by 'staggering' £372.5m
On the go: The government faces growing pressure to review ‘emergency tax’ treatment of pension freedoms withdrawals, after it was revealed that a staggering £372.5m has now been reclaimed by pension savers since the freedoms were launched in April 2015.
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NewsHammond’s Budget looks to unlock DC savings for patient capital
The government is to consult next year on whether the charge cap for defined contribution default funds should be changed to unlock greater investment in patient capital, as part of a Budget with significant implications for DC savers.