All News articles – Page 80
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NewsTPR in-person visits return after lifting of Covid-19 rules
On the go: The Pensions Regulator has said it is carrying out in-person spot checks on employers in a compliance push that has been enabled by the relaxation of coronavirus restrictions earlier this year.
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NewsSchemes could bag £100bn in savings after bank base rate hike
The Bank of England's anticipated move to raise rates could fuel huge savings for defined benefit schemes, although the inflationary outlook has deteriorated as the cost of living crisis continues to bite.
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NewsNest brings private equity investment to UK savers
On the go: Master trust Nest has opened the door to private equity investment for millions of UK pension savers. Nest, which manages £24bn in assets and whose customer base represents a third of the UK workforce, has launched a private equity fund in tandem with Schroders Capital.
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NewsTPR aims for transparency in consolidated enforcement powers
The Pensions Regulator has launched a consultation into a new draft enforcement policy document that aims to consolidate existing enforcement policies governing defined benefit, hybrid, public sector and defined contribution pension schemes.
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NewsUniversal Office Supplies scheme agrees £47mn buy-in
On the go: The Universal Office Supplies Pension Scheme has agreed a buy-in with Legal & General.
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NewsFTSE 350 DB deficit reaches two-year low amid bond yield rise
The accounting deficit of the defined benefit schemes of the UK’s 350 biggest public companies fell to £45bn at the end of last month — a level last seen in April 2020.
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NewsClara ‘in talks’ to raise £100mn of new funding
On the go: Clara-Pensions, the first defined benefit “superfund” to be approved by the Pensions Regulator, is in talks to raise £100mn of new funding.
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NewsNest Insight sidecar savings take-up lags interest
On the go: Ninety-eight per cent of people who think Nest Insight’s sidecar savings product would help them have not signed up to use it, the research unit has admitted.
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NewsLess than third of schemes regularly track individual fund performance
On the go: Just 30 per cent of pension schemes regularly monitor individual fund performance as experienced by members, according to new research.
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NewsPrudential empties client’s pension pot in error
On the go: Prudential has come under fire after it accidentally paid out the entirety of a client’s pension pot after only the lump sum amount was requested.
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NewsHSBC pensions ‘clawback’ resolution defeated at AGM
On the go: A resolution against so-called pensions “clawback” at HSBC was defeated at the bank’s annual meeting, with 94 per cent of votes cast against abolishing the practice.
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NewsOne in three employees want paid-for adviser pensions consultations
On the go: Nearly a third of employees believe they are being kept in the dark over their pensions by their employers, while a similar amount (28 per cent) want their employers to pay for meetings with advisers to discuss their concerns about their retirement savings.
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NewsStandard Life’s sustainable switch and a new LGPS active fund
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including a new sustainable multi-asset profile from Standard Life, a £1bn sustainable global equities fund from LGPS Central, and an anti-scams pledge from the Universities Superannuation Scheme.
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NewsSchemes to weigh up £8bn cost of discretionary increases
Defined benefit schemes in the UK will have to weigh up the significant costs of granting discretionary increases later this year, which could add up to £8bn in liabilities across private sector DB schemes, according to Aon.
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NewsNationwide completes £172mn buy-in with Canada Life
On the go: The circa £7bn Nationwide Pension Fund has completed a £172mn bulk annuity transaction with Canada Life for its circa £338.2mn Cheshire and Derbyshire Section.
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NewsTPR has used AE powers more than 500,000 times since 2012
On the go: The Pensions Regulator has used its enforced powers on automatic enrolment compliance on more than 500,000 occasions since July 2012, it has revealed.
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NewsTPR: Smaller scheme trustees can do more
Some trustees at smaller pension schemes need to raise their game in areas like governance, David Fairs, the Pensions Regulator’s executive director of regulatory policy, has said.
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NewsSome DB schemes will be subject to ‘stronger nudge’ requirements
On the go: Some defined benefit schemes will have to comply with the Department for Work and Pensions’ new “stronger nudge” requirements, due to come into force on June 1, dispelling suggestions that only defined contribution schemes would be affected.
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NewsHMRC discretion on scam victims’ tax bills not justifiable, says minister
John Glen, economic secretary to the Treasury, has argued there is “no justifiable basis” for HM Revenue & Customs to use its discretion when assessing the tax treatment of pension liberation victims.
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NewsGovt plans looser insurer infrastructure investment regime
On the go: The government has published a new consultation on Solvency II, with the aim of helping insurers invest in UK infrastructure and green projects.