All News articles – Page 63
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NewsCouncillor appeals for broader LGPS fund post-merger oversight
On the go: Scottish Greens councillor Shona McIntosh has tabled a motion for an upcoming East Lothian Council meeting, appealing for broader and more democratic oversight over the successor to the £8.6bn Lothian Pension Fund.
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NewsHigh inflation means pensioners will need extra £90,000
On the go: Pensioners will need an additional £90,000 to maintain a comfortable lifestyle due to rising inflation, according to research.
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NewsTrustee pair pleads guilty to making illegal loans
On the go: Two pension trustees have pleaded guilty to making illegal loans amounting to £236,000 from a company pension scheme to its employer, according to the Pensions Regulator.
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NewsIncorrect personal data prevents Nest member from opting out
A healthcare company has been told by the Pensions Ombudsman to repay an employee’s pension contributions, after he was unable to opt out due to the employer providing an incorrect date of birth and national insurance number to Nest.
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NewsUnion slams Crown guarantee for Atomic Weapons scheme
The government’s decision to grant a “Crown guarantee” for the Atomic Weapons Establishment Defined Benefit Pension Scheme has been criticised by one trade union for being too late to help its members.
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NewsDelaying retirement by a day could leave members £10,000 better off
Delaying retirement by a day could leave members £10,000 better off in retirement due to the way members’ benefits are calculated based on short-term inflation rates, according to research from XPS Pensions Group.
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NewsBexley Pension Fund appoints investment consultant
On the go: The £1bn London Borough of Bexley Pension Fund has selected Redington as investment consultant, having launched a procurement process in early March.
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NewsOmbudsman to speed up state pension age investigation
On the go: The Parliamentary and Health Service Ombudsman is to adjust its approach to the remainder of its investigation into failures by the Department for Work and Pensions relating to changes to women’s state pension age, so it can “conclude the investigation as efficiently as possible”, having shared its preliminary views with interested parties.
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NewsTPR: ‘Keep asking questions’ about investment strategies
On the go: The current economic malaise, and especially the impact on liability-driven investments now interest rates are rising, proves it is especially important that trustees continue to ask questions about their investment strategies, even if they seem “silly”, says Fred Berry, the Pensions Regulator’s lead investment consultant.
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NewsNumber of savers opting out of pension schemes jumps by 29%
On the go: The number of people opting out of their workplace pension scheme has risen by 29 per cent between March and July this year, according to analysis by pensions provider Penfold.
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NewsNew funding proposals threaten ‘the demise of DB schemes’
New defined benefit funding rules may lead to “potentially severe outcomes”, consultancy LCP has warned, while Mercer has predicted that the regulations would “accelerate pension liability buyouts and the demise of DB schemes”.
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NewsGovt to change civil servants’ early pensions access
The government has proposed to change the rules around early access to pensions in the civil service, tracking 10 years behind state pension age, according to a new consultation over reforms to the Civil Service Compensation Scheme.
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NewsTransfer volumes could hit £600bn as insurers post strong results
A host of insurers have revealed their first-half 2022 results that show a booming trade in risk transfers, which, by some projections, could hit £600bn over the next decade — though there are fears about a capacity crunch in the sector.
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NewsAre record energy profits creating an ethical quandary for trustees?
By Tom Higgins | August 12, 2022
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NewsMaPS unclear on origin for half of amber flag scam warnings
On the go: Nearly half (44 per cent) of scam guidance sessions in the past three months have been triggered despite the Money and Pensions Service not knowing why the amber flag was raised to begin with, according to data obtained via freedom of information act request by Quilter.
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NewsFBU receives more than 750 ‘immediate detriment’ claims
On the go: The Fire Brigades Union has received more than 750 ‘immediate detriment’ claims since June 6, despite being told by the Fire Chiefs’ Council that it should hold off applying immediate detriment until legislation is introduced next year.
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NewsBoots seals full £50mn buy-in with L&G
On the go: The £50mn Boots Supplementary Pension Plan has agreed a full buy-in with Legal & General Assurance Society, covering the benefits of more than 110 pension members.
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NewsUniversity of Dundee staff set for second pensions strike
On the go: Members of the Unite trade union who work at the University of Dundee have agreed to carry out "continuous strike action" for a second time from August 25 over pensions.
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NewsWest Yorkshire Pension Fund averts recruitment crisis
On the go: The £17.8bn West Yorkshire Pension Fund has made three senior appointments to its in-house investment team in response to ‘critical’ staffing issues that occurred last year. It has also weighed up the risk of handing assets over to external managers in the future.