All News articles – Page 79
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NewsBailey to be grilled by MPs over British Steel saga
Bank of England governor Andrew Bailey is set to appear before a group of MPs to answer questions about his role in the British Steel Pension Scheme scandal when he was at the financial regulator.
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News60% of pension funds don’t expect to meet net zero goals
Sixty per cent of a group of large pension funds across North America, Europe and Australasia believe they will fail to achieve their net zero goals under current conditions, new research has revealed.
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NewsITV hit with £133mn warning notice by TPR
The Pensions Regulator has slapped a £133mn warning notice on broadcaster ITV after it failed to provide adequate support to the Box Clever pension scheme by the regulator’s deadline.
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NewsNest hires efficient portfolio manager
On the go: Master trust Nest has appointed a manager to help make its portfolio management more efficient through the use of derivative contracts.
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NewsAuto-enrolment reform: If not now, when?
Five years ago, the Department for Work and Pensions issued a report with the aim of “maintaining the momentum” of automatic enrolment.
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NewsLoughborough Uni and UCU warn USS against reducing contributions
On the go: Positive changes resulting from the next valuation of the Universities Superannuation Scheme should be used to improve member benefits, Loughborough University and the University and College Union have argued.
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NewsNo AE reform, but Queen’s Speech measures spark protests
There was no mention of automatic enrolment reform in the Queen’s Speech, but bills around local boycotts, online safety and a revamped audit and reporting framework will all impact the industry, experts have said.
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NewsProfit warnings from companies with DB scheme surge 46%
Profit warnings from UK public companies with a defined benefit pension scheme increased 46 per cent between the starts of 2021 and 2022, as consumer and industrial sectors bear the pain of rising costs and supply chain disruption.
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NewsTesco: 9 in 10 members seek trust and safety in an ESG strategy
Members want a responsible investment strategy to deliver growth, but they also want to have trust in their scheme and ensure their savings are safe, according to research on Tesco’s defined contribution scheme members.
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NewsMorrisons promises to protect McColl’s pensions in takeover
On the go: Supermarket chain Morrisons has prevailed in the bidding war for troubled retailer McColl’s, beating a rival bid from EG Group. The acquisition will reportedly uphold all promises made to McColl’s pension schemes.
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NewsScheme costs ‘could increase’ under plans to promote illiquids in DC
The Department for Work and Pensions’ plans to promote investment in illiquid assets could end up increasing costs for members and raise the regulatory burden on schemes without improving retirement outcomes, consultants have warned.
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NewsMajority of women lower pension payments due to caring duties
On the go: Women are concerned about their pension provision after having to reduce or stop payments due to going part-time or taking a career break, according to research by Working Wise.
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NewsMcCloud sees more public sector schemes breach cost-cap ceiling
Three more public sector schemes have breached the cost-control mechanism as a result of the McCloud remedy, the Government Actuary’s Department has confirmed.
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NewsTrustees demand protection for schemes as McColl’s collapses
On the go: The trustee of the two defined benefit schemes sponsored by retailer McColl’s has called for the link with the sponsor company to be respected after administrators were appointed to oversee the fallout from the retailer’s collapse.
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NewsWorcestershire invests in climate fund, insurers lock in net zero targets
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including the Worcestershire County Council Pension Fund investing in a climate fund, bulk annuity insurers all having set net zero targets, and the Church of England Pensions Board slashing the carbon intensity of its holdings by a fifth.
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NewsBMA issues stinging rebuke of ‘misleading’ NHS pensions claims
The British Medical Association has rebuked NHS England and NHS Improvement for what it calls “misleading” information about “punitive pensions taxation” and its impact on staff retention.
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NewsRailpen and Greater Anglia to compensate over settlement delay
The Pensions Ombudsman has ordered Railpen and train operator Greater Anglia to each pay £17,500 after a former member’s estate incurred an increased tax bill after a two-year wait for settlement.
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NewsCrisis-driven mortality increase to reduce scheme liabilities
On the go: An increase in mortality rates brought about by the coronavirus pandemic, pressures on the healthcare system, and the cost of living crisis could see schemes’ liabilities reduced by around 2 per cent in the coming years, according to analysis from LCP.
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NewsElectricity pensioners launch campaign amid inflation fears
The Association of Electricity Supply Pensioners has launched a campaign to protect the benefits of more than 100,000 members of the Electricity Supply Pension Scheme, amid fears that pension increases that do not match inflation could amount to significant losses.
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NewsUCU agrees marking boycott in latest USS escalation
On the go: Staff at 26 universities will take part in a marking boycott and strike action following the latest escalation of the ongoing Universities Superannuation Scheme pensions dispute.