All News articles – Page 222
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PPF seeks member representative for board position
On the go: The Pension Protection Fund is taking a novel approach to recruitment, seeking a board member who has been compensated by the fund.
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Employers reject call for contingency contributions from USS
On the go: At least two employers, including the University of Oxford and the University of Sheffield, have rejected the call for contingent contributions in a consultation from Britain’s largest private sector pension scheme, the Universities Superannuation Scheme.
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NewsABF switches platforms for reduced fee and wider range of funds
The trustees of the Associated British Foods defined contribution pension plan have decided to switch to a new investment platform so that members benefit from a wider range of fund choices and a cheaper platform fee.
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Spring Statement: Government responds to RPI flaws
On the go: The government is still considering whether to take action on problems with the retail price index, it was announced after the Spring Statement yesterday.
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Third of people unaware of pensions tax relief
On the go: Across the UK, there are huge gaps in pensions knowledge, with 35 per cent of people unaware that the government contributes to pensions through tax relief.
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Field condemns TPR failure to act on Johnston Press pension
On the go: The chair of the Work and Pensions Select Committee has condemned The Pensions Regulator’s finding that restructured publisher Johnston Press did not use a ‘pre-pack’ insolvency to avoid its pension obligations.
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Scottish Borders fund opts for sustainable equities
On the go: The £711m Scottish Borders Council Pension Fund has become the first UK local authority pension scheme to invest in Morgan Stanley Investment Management’s Global Sustain Strategy.
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L&G master trust default goes green due to member demand
On the go: The Legal & General Mastertrust is switching its default investment strategy to take account of environmental, social and governance risks, after a study revealed almost 60 per cent of its members favour the approach.
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DB schemes creep back towards full PPF funding
On the go: The 5,450 defined benefit schemes in the UK are inching back towards surplus on the Pension Protection Fund's measure, with an aggregate deficit of just £8.6bn.
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Delivery date for vital CMA reforms questioned
The government has welcomed reforms to the fiduciary management and investment consulting industry suggested by the Competition and Markets Authority, but experts fear it may be some time before at least one of the recommendations is implemented.
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BMA launches legal challenge against govt over NHS pensions
On the go: The British Medical Association plans to take the government to court over discriminatory aspects of the NHS Pension Scheme, the trade union announced on Monday.
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New lower life expectancy figures trim £20bn off DB liabilities
On the go: Life expectancies at age 65 are around five months lower for both males and females than they were a year ago, at 19.8 years and 22.4 years according to the Continuous Mortality Investigation. The figures come with caveats but are expected to cut £20bn from FTSE 350 defined benefit liabilities.
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Bulk annuity volumes beat expectations with £24bn in 2018
On the go: Legal & General took the largest share of the bulk annuity market in 2018, accounting for 35 per cent of the sector, in a year when buy-ins and buyouts totalled £24bn.
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FTSE350 pension deficit rises to £45bn
On the go: The total deficit of FTSE350 companies’ defined benefit pension schemes increased to £45bn from £41bn at the end of February. The move was caused by an increase in liabilities to £811bn from £806bn, partially offset by asset values increasing to £766bn from £765bn, according to Mercer figures released this week.
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Employers keep workers in the dark on pension freedoms
On the go: Some employers are still sticking their heads in the sand when it comes to pensions reforms. Only 59 per cent have alerted their employees to pension freedoms, according to the Employer Engagement Survey 2018 published by the Department for Work and Pensions in March 2019.
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£7.1m bulk annuity boom for PIC
On the go: Pension Insurance Corporation saw a near doubling of new pension insurance business to £7.1bn of premiums (2017: £3.7bn), for clients including BHS, Siemens and Rentokil, its parent company's 2018 results published today revealed.
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TPR could face last-minute ‘tsunami’ of master trust applications
On the go: With just over three weeks left until the end of the authorisation window for master trusts, 13 applications have been received by the Pensions Regulator from the 90 master trusts in the market, meaning it could face a last-minute tsunami of applications, according to consultancy Hymans Robertson.
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Record £10bn annuity sales boosts L&G profits
On the go: Legal & General’s 2018 results released on Wednesday showed a record £10bn annuity sales, as demand grew for both institutional risk transfer deals and individual annuities.
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Eurozone equities at 20 per cent discount v US stock market
On the go: The eurozone stock markets could be set to outperform the US, UK and Japan, according to NN Investment Partners.
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NewsPIPA 2019: Have you made the shortlist?
Find out if you have been shortlisted for the 20 annual Pension and Investment Provider Awards organised by Pensions Expert. The winners will be announced at an exclusive black tie dinner at the Sheraton Park Lane Hotel in London on May 15.