All News articles – Page 228
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Pensions Ombudsman investigates transfer complaints
The Pensions Ombudsman is investigating a group of over 150 complaints surrounding transfer values relating to the British Steel Pension Scheme. It will soon carry out another investigation over member complaints about early retirement factors.
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Trinity Mirror commits to Northern & Shell schemes
Trinity Mirror has announced the acquisition of Northern & Shell's publishing assets for a total purchase price of £126.7m. The buyer has agreed measures to support its acquisition’s pension schemes.
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NewsCombined Nuclear picks TDFs for flexibility
The trustees of the industry-wide Combined Nuclear Pension Plan have added target date funds to its defined contribution scheme, having put the move on hold when the pension freedoms were first announced.
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NewsThales case shines light on power of scheme rules
A High Court case involving Thales and trustees of its pension scheme has concluded it cannot move from the retail price index to the consumer price index for some benefits, highlighting how the wording in a scheme’s rules dictates the measure of inflation that is used.
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Govt ignores self-employed pensions in gig economy crack-down
The government is seeking to address concerns over working conditions in the so-called 'gig economy' by giving workers more protections and greater clarity around their rights, but has failed to address the issue of pension saving among the self-employed, according to industry commentators.
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TPR fines airline's scheme for failing to get accounts audited on time
Four trustees of the Pakistan International Airlines Retirement and Death Benefits Plan have been fined £500 each for failing to get accounts audited on time for two years in a row.
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Bus firm and boss to pay £60k for failing to offer staff pension
A bus company and its managing director have admitted to trying to deliberately avoid giving their employees workplace pensions, and now must pay more than £60,000.
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Consolidation could see 4 in 5 schemes disappear
Consolidation will see just 1,000 defined benefit schemes still operating in 25 years’ time, according to a new report, but some experts doubt the appetite from government or the private sector to bring about economies of scale.
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WPP buys in £140m across five schemes
Communications services giant WPP has insured £140m of defined benefit liabilities with the Pension Insurance Corporation.
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Dow Chemical opts for multi-country DC provision
Multinational Dow Chemical is moving its defined contribution plans in the UK and the Netherlands to an international DC solution.
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Select committees blast Carillion directors
MPs chairing the joint inquiry into the collapse of outsourcer Carillion have lambasted the company's former directors as "delusional", highlighting that recovery plans drafted shortly before the insolvency paid little consideration to pensioners.
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NewsRegulator publishes British Steel section 89 report
The pensions watchdog has outlined its decision-making process in a regulatory report on the British Steel Pension Scheme, published six months after greenlighting the regulated apportionment arrangement to separate the BSPS from Tata Steel UK.
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Now Pensions fined £70k for admin failings
The Pensions Regulator has fined the trustee and trust manager of Now Pensions in relation to persistent administration failures, and has given the embattled mastertrust until July to fix all of its issues.
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BT to close DB managers’ scheme
BT is to close its defined benefit BT Pension Scheme to managers for future accrual on May 31 2018.
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UK assets up but savers still look to bricks and mortar
UK occupational pension assets grew 16.9 per cent over 2017 to cement Britain’s position as the second-largest market in the world, but concerning trends in saver attitudes suggest market returns may be masking fundamental problems.
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Edinburgh Airport scheme hires new consultant
The Edinburgh Airport Pension Plan has appointed actuaries and consultants Spence & Partners for defined benefit pension scheme management.
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NewsNissan defies carmaker trend towards DC
Car manufacturer Nissan is consulting on a proposed switch to a career average scheme to reduce the volatility of its pension liabilities, amid recent and proposed moves to defined contribution in the industry.
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BT to appeal High Court ruling
On the go: BT will appeal last month’s High Court ruling against changing the measure by which increases for its Section C scheme are calculated, from the retail price index to the consumer price index.
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Prospect: Govt must uphold promise to electricity workers
A group of Carillion electricity workers may become a key test case for pension protections, according to union Prospect.
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ONS wealth survey: Pension inequality reducing but debt a worry
Pension wealth for UK households increased by 20 per cent in the past two years, according to the Office for National Statistics, but an increase in aggregate debt clouded good news for overall financial health.