All News articles – Page 74
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NewsHouse of Fraser scheme secures £600mn buyout
On the go: The House of Fraser Beatties & Jenners Pension Scheme has completed a £600mn buyout with Pension Insurance Corporation, covering 3,850 deferred members and 5,050 pensioners.
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NewsDB schemes’ surplus increases £55bn in May
On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index increased by £55.4bn in May.
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NewsSmall pots member exchange trial scuppered by NMPA
A trial being developed by three master trusts to exchange small pots has ground to a halt before it even started, due to the new normal minimum pension age rules, and will only be able to advance if new legislation is introduced.
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NewsOpperman supports public sector DB reform
On the go: Pensions minister Guy Opperman has warned that public sector defined benefit schemes should be reformed, branding the system unsustainable.
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NewsRailpen launches voting coalition, BlackRock expands client voting
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including Railpen announcing a pushback against “unequal voting rights” and BlackRock giving its pension clients more say in how they take part in shareholder votes.
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NewsCleveland Potash schemes appoint pension services provider
On the go: The £285mn Cleveland Potash Pension Schemes has appointed Willis Towers Watson’s OneDB to provide combined actuarial, fiduciary management and administrative services.
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NewsTPR’s new DB funding code expected in September 2023
The Pensions Regulator expects its much-anticipated new defined benefit funding code to be in place and operational by September 2023, according to its latest corporate plan.
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NewsTPR to review initial TCFD reports
On the go: The Pensions Regulator will review schemes’ published Task Force on Climate-related Financial Disclosures reports in the coming months, it has disclosed.
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NewsNearly a third of DB trustees think net zero ‘isn’t relevant’
On the go: Thirty per cent of defined benefit pension trustees think efforts to push their schemes towards net zero emissions “isn’t relevant to them”, according to new research.
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NewsAnalysts consider PensionBee a potential takeover target
On the go: PensionBee’s competitors may have to buy the platform to stop it dominating the defined contribution market, Jefferies analysts have suggested.
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NewsStaffordshire Fire and Rescue Service pauses McCloud payments
The Staffordshire Fire and Rescue Service has stopped making payments to members of the Firefighters’ Pension Scheme affected by the McCloud ruling after pressure from the government.
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NewsICO in talks with TPR over member communications
On the go: The Information Commissioner’s Office is engaging with the Pensions Regulator to clarify the current rules involving member communications, as schemes and providers believe existing legislation prevents them from reaching out to these individuals.
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NewsBMW disputes inclusion on Make My Money Matter net zero target list
BMW has contested its inclusion on a list of the UK’s 20 largest pension schemes to have allegedly not set net zero targets.
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NewsTPR sets lower competency bar for new CDC trustees
The Pensions Regulator has distinguished between its expectations on trustee competence for new and experienced trustees, as part of amendments to its new code for collective defined contribution schemes.
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NewsDWP tenders for midlife MOT pilot providers
On the go: The Department for Work and Pensions has launched a tender for suppliers to help deliver midlife MOTs as part of the programme’s pilot stage.
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NewsTPR chief backs using tax returns to bring self-employed into pensions
The Pensions Regulator’s chief executive, Charles Counsell, has backed using self-assessment tax returns to encourage more self-employed to save into pensions, in a bid to tackle huge levels of pensions under-saving in the cohort.
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NewsLondon Pensions Fund Authority launches transparency dashboard
On the go: The £6.9bn London Pensions Fund Authority has launched a transparency dashboard in partnership with fintech company Tumelo that displays a breakdown of its equity investments.
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NewsTfL staff to strike again over pensions
On the go: London Underground staff members of the National Union of Rail, Maritime and Transport Workers will walk out once more as part of their pensions dispute on June 21, to coincide with the biggest set of transport strikes in decades.
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NewsWomen need to work an extra 18 years to match male pension pots
Women are reaching retirement age with the biggest pension savings gap on record, according to new research.