All News articles – Page 234
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DWP restates commitment to industry-led dashboard
Work and pensions secretary Esther McVey has said she "backs the industry" to deliver the pensions dashboard, but key details including whether the government will compel schemes to submit information remain unclear.
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NewsWhitbread expected to plug deficit following Costa sale
Leisure group Whitbread is likely to fill the deficit in its defined benefit scheme after having agreed the sale of coffee chain Costa to drinks group Coca-Cola, according to Numis broker Tim Barrett.
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PLSA pitch for light-touch tender rules raises eyebrows
The Pensions and Lifetime Savings Association has called for mandatory fiduciary management tenders mandates to be closed processes with no minimum number of applicants, but some experts have questioned whether the move would do anything to change the status quo.
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Frank Field resigns Labour whip
On the go: Work and Pensions Committee chair Frank Field has resigned the Labour Party whip, citing a hostile atmosphere and alleged anti-semitism within the party.
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Millennials want more help with pensions, study shows
Millennials have a responsible attitude to retirement saving, despite pressure to get on the property ladder and pay off student debt, but more than half want more support and information about pensions, a study has found.
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Regulator calls for schemes to consider lowering transfer values
On the go: The Pensions Regulator has asked the trustees of several defined benefit schemes to contemplate cutting transfer values for workers opting out of schemes.
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Regulator tells schemes to consider cutting transfer values
The Pensions Regulator asked the trustees of 14 defined benefit schemes to review their transfer processes and consider cutting transfer values for members considering cashing in their benefits.
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Michael Johnson: Replace pensions tax relief with bonuses
In a bid to make pensions saving more progressive, the Centre for Policy Studies has recommended substituting tax relief on pensions for capped bonuses on individual and employers’ retirement contributions.
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Aegon not interested in scooping up failed mastertrusts
Pensions provider Aegon has declared itself uninterested in buying mastertrusts that drop out of the market as a result of authorisation, aiming instead at the more lucrative single-trust defined contribution market.
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Dromey: Government can use HPE contracts for pensioner justice
The shadow pensions minister has called on ministers to leverage lucrative contracts it awards to Hewlett Packard Enterprise to persuade the company to protect pensioners who are seeing their benefits eroded by inflation.
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Renishaw in recovery plan discussion with regulator
British engineering company Renishaw has been in discussions with the Pensions Regulator after the watchdog questioned its recovery plan, potentially leading to a £45m cash contribution to the scheme if the current recovery plan is terminated.
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Nearly half of the self-employed do not have a pension
An unhealthy minority of self-employed workers in the UK do not currently save into a pension, according to new research. Nearly a third will depend solely upon the state pension to support them in retirement.
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Cost concerns hinder company action on staff financial wellbeing
Forty-nine per cent of employers currently have no defined financial wellbeing strategy in place, a recent survey has found, as experts urged corporate boards to tackle the subject formally.
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Industry slams lack of detail on regulator's new powers
Plans to reinforce the regulation of defined benefit schemes in the UK lack depth and may not have been able to prevent the pensions scandals that have rocked the industry in recent years, according to industry experts.
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FRC review threatens to impact actuarial profession
An advisory group to the government review of the Financial Reporting Council is to explore the extent to which actuaries should be subject to formal regulation in response to the pensions-related nature of recent corporate failures.
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NewsSchemes must play part in war on scams
Pension schemes and providers have been urged to increase member awareness of scam tactics and tighten data security, amid the revelation that average losses from fraudulent and inappropriate inducements eclipsed the size of the average pension pot in the UK.
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Lookers merges defined benefit schemes
UK motor resale company Lookers has amalgamated two of its defined benefit pension schemes, as experts highlight the improved efficiency and cost savings associated with mergers.
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DB schemes inch closer to full PPF funding
On the go: Defined benefit schemes in the UK are nearing full funding on the Pension Protection Fund's section 179 basis, with an aggregate deficit of £62.8bn at the end of July.
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Scam victims lose £91,000 on average
On the go: The Pensions Regulator and the Financial Conduct Authority have launched a joint media campaign to combat pension scams, amid the revelation that average losses from fraudulent and inappropriate inducements eclipsed the size of the average pension pot in the UK.
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Mid-market direct lending approach 'too constraining', WTW says
Mid-market direct lending is “now demonstrating signs of material deterioration in credit underwriting and future return potential”, according to a report by consultancy Willis Towers Watson, which is instead recommending its clients invest in debt for US real estate and UK commercial real estate.