All News articles – Page 232
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Companies reduce scheme deficits by £8bn
The combined pension deficit of FTSE 350 companies improved by £8bn over 2017, while assets went up more than £44bn to £781bn, a pensions consultancy said.
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PASA selects members for Transfers Working Group
The Pensions Administration Standards Association has today announced the 23 members of its new Transfers Working Group, which aims to look closely at defined benefit transfer delays.
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Bulk annuity transfers to pass £15bn in 2018
2018 will be the first year in which buyouts and buy-ins for UK defined benefit schemes exceed £15bn, consultancy LCP has predicted, with improved funding levels and keen insurer pricing helping to establish a “new normal” in the bulk annuity market.
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NewsFunding levels up as FTSE 100 companies cut back DB
The UK’s blue chip companies have cut back their defined benefit servicing costs by around 15 per cent over 2017, analysis by JLT Employee Benefits has found, while funding levels continue their painstaking recovery.
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DWP issues draft regulation on contracted-out scheme transfers
The government is consulting on its draft regulations for bulk transfer of contracted-out pension rights without member consent. The consultation closes on January 17 2018.
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Toys R Us wins PPF backing for CVA
The Pension Protection Fund said on Thursday it would vote in favour of proposals for a company voluntary arrangement made by struggling retailer Toys R Us. The creditor vote has since taken place.
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PPF appoints Oliver Morley as chief executive
The Pension Protection Fund has said it is appointing Oliver Morley CBE as chief executive, taking over from Alan Rubenstein. Morley will officially start on March 19 2018.
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Lifeboat fund confirms 2018-19 levy
The Pension Protection Fund published its final levy rules for the 2018-19 levy year on Tuesday.
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NewsPPF praised for tough line on Toys R Us insolvency talks
The pensions industry has welcomed the tough stance taken by the Pension Protection Fund in its negotiations with struggling retailer Toys R Us, saying it will encourage companies not to take their pension responsibilities lightly.
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Freedoms still have industry in their grip: Top DC stories from 2017
Year in review: The sea change policy of freedom and choice brought in more than two years ago continues to dominate in the defined contribution world.
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Govt 'minded' to introduce mandatory trustee ESG statements
The government is to consult on whether trustees should be required to state their policies on sustainability, member concerns and stewardship, and will clarify current legislation as part of a wider push to increase pension investment in social and illiquid assets.
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From trees to manager fees: Top 5 investment stories from 2017
Year in review: Innovation characterised investment headlines in 2017, as schemes and members demanded more sophisticated approaches to pension investment.
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TPR gets stronger, the government weaker: Top 5 law and regulation stories from 2017
Year in review: If the UK government’s all-consuming struggle to strike a beneficial Brexit deal can bring any relief to pensions professionals, it is that departments have not had time for the pensions tinkering so despised by the industry.
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NewsBritish Steel saga raises questions on advice market and transfers
News analysis: Steelworker Rich Caddy has regrets about his choice to transfer out of the British Steel Pension Scheme.
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BT scheme cuts TPA contract short to pull admin in-house
The BT Pension Scheme is moving the administration for its 300,000-member scheme in-house next year, not long into a contract extension with a third-party provider.
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AE review: Welcome reforms not due until mid-2020s
The government will introduce a package of measures to address issues with auto-enrolment, but questions remain over multiple jobholders and the self-employed, while the timescale has drawn criticism.
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Professional trustees told to 'comply or explain' in draft standards
The industry-led Professional Trustee Standards Working Group has drawn up a set of draft standards for professional trustees imposing a "comply or explain" regime, but some say it is lacking in clarity.
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NewsTrustees and consultants urged to up their game in transparency push
The chair of the Financial Conduct Authority’s working group on cost disclosure has spoken out about a dangerous fixation with net performance in the pensions industry, insisting that granular data is needed for the recent transparency drive to have any effect.
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UK has lowest net replacement rates of average earners in OECD
A new report has highlighted markedly low replacement rates for UK savers amid increasing pensioner poverty due to ill health, emphasising the importance of increased saving into private pensions.
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PPF: DB funding levels highest since 2014
Defined benefit scheme funding levels have passed 90 per cent on a s179 basis for the first time since March 2014, according to the latest edition of the Purple Book.