All News articles – Page 222
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News
TPR to seize assets of rogue employers
The Pensions Regulator has said it will appoint High Court Enforcement Officers to seize assets of employers who do not pay a pension fine.
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Third of retirees in drawdown have no investment experience
Thirty-two per cent of people in drawdown do not have any investment experience, yet two in five of them have not received advice or guidance, according to a recent report that urges the introduction of drawdown MOTs.
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Are trustees engaging with fiduciary managers properly?
Most trustees are perfectly capable of operating beyond the conflicts of interest inherent in fiduciary management, but some small schemes lack resources and support, according to experts.
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CMA: Fiduciary management not overly concentrated
Neither the investment consultancy or fiduciary management industries show signs of excessive concentration, the Competition and Markets Authority has found, but the vertical integration of the ‘big three’ firms could distort the market in future.
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Individual withdrawals under flexible pension rules up 26% since last year
New HMRC data on flexible payments from pensions show that in Q1 2018, 222,000 individuals made withdrawals, up from 176,000 in Q1 2017 – a 26 per cent increase.
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Opperman tells insurers to do more for savers
Pensions and financial inclusion minister Guy Opperman has urged insurers to deliver the products and processes the market is often criticised for lacking, and to defend the pension freedoms policy.
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NewsCoats proposes merger of its UK DB schemes
Industrial thread manufacturer Coats has proposed a merger of its three UK defined benefit pension schemes to cut costs and increase efficiency.
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NewsIHG ups contributions ahead of 2019 deadline
Intercontinental Hotels Group has increased its default pension contributions to 2019 minimum levels a year early, after a multi-pronged member communications exercise last year sought to persuade employees to increase saving levels voluntarily.
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Now Pensions default struggles as industry lacks standardisation
Now Pensions has the worst performing default fund of any major defined contribution provider, according to a new report by product review company Defaqto.
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Salvus snaps up Complete in £7m mastertrust consolidation deal
Salvus Master Trust has unveiled plans to acquire the members and assets of the £7m Complete Master Trust, as the sector’s consolidation drive begins to gather pace.
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GLIL relaunched under regulated structure
Infrastructure platform GLIL, formed in 2015 by the London Pensions Fund Authority and the Greater Manchester Pension Fund, has been relaunched under a regulated structure.
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NewsLeonardo Helicopters extends Pie and switches to CPI
Leonardo Helicopters has decided to keep its scheme open to accrual but plans to extend a pension increase exchange while tweaking the inflation measure for future benefit build-up.
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Regulator to prosecute brewery for failing to provide financial info
The Pensions Regulator is to prosecute Samuel Smith Old Brewery and company chairman Humphrey Smith for failing to provide information and documents required for an ongoing investigation.
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Now Pensions bottom of default fund league tables
Now Pensions has the worst performing default fund of any major defined contribution provider, according to a new report by product review company Defaqto.
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High Court rules against statutory limit for overpayment recovery
The High Court has ruled that defined benefit schemes are not subject to a time limit on their ability to recoup pension overpayments. Such a recovery must be carried out equitably by altering future payments, however.
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Plymouth & South West Co-op introduces illiquids and cuts DGFs
The Plymouth & South West Co-operative Society pension fund is decreasing its diversified growth fund exposure and introducing a new allocation to illiquid credit.
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Chatbots, GDPR and scams: Is admin in for a sea change?
Technological advances could mean pensions administration is about to become a lot sexier, but while cyber security evolves humans still need education if the industry is to protect pensions data and money.
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RSA calls for pensions tax reform to boost saving for self-employed
The Royal Society of Arts has published wide-ranging recommendations seeking to tackle the four key barriers to saving for the self-employed, underpinned by a call to introduce a flat rate of tax relief on pensions contributions.
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Savers misjudge lifespans, as experts call for comms overhaul
Savers are underestimating their life expectancy, with ‘survival pessimism’ potentially driving the unpopularity of annuities, according to a new report.
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UCU suspends strike action to scrutinise USS valuation
The University and College Union has called to suspend all strike action after its members accepted an offer to examine the latest valuation.