All News articles – Page 90
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NewsFTSE 100 schemes hit new record surplus
On the go: FTSE 100 schemes have entered “uncharted territory” after reaching a record combined surplus of £130bn, according to LCP.
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NewsHMRC clarifies tax treatment of GMP arrears
On the go: HM Revenue & Customs has set out the tax treatment for arrears and interest when equalising for guaranteed minimum pension, explaining the circumstances under which there is an obligation to deduct tax.
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NewsLegal review raises questions over PPF assessment period
Compensation paid by schemes during the Pension Protection Fund’s assessment period has come under legal scrutiny, with an employment tribunal decision potentially forbidding limits on benefits paid during that time, according to lawyers.
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NewsMP calls for inquiry into war pension claims process
An MP has called for an inquiry into alleged failings by the War Pension Scheme and the Armed Forces Compensation Scheme, asking whether the claims process for injured veterans is fit for purpose.
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NewsTackling patchy carbon emissions data from issuers
Insight Investment credit portfolio manager Claire Bews highlights the issues with carbon emissions data from securities issuers, and how engagement from asset owners can improve these disclosures.
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NewsOrigo launches pensions dashboard connector
On the go: Fintech company Origo is to launch its own pensions dashboard connector in September, giving providers an interface with the dashboards that enables them to respond to user requests and provide pensions data.
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NewsExpected living standards from DC savings rise
On the go: The expected future living standards provided by defined contribution pension savings were higher at the end of the first quarter of 2022 than at the close of last year, Aon’s DC tracker has revealed.
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NewsPandemic to affect life expectancy ‘by less than 1%’
On the go: Insurers only expect the coronavirus pandemic’s impact on future mortality improvements to affect life expectancy by less than 1 per cent, the Institute and Faculty of Actuaries has said.
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NewsSmiths Group scheme secures final £640mn buy-in
On the go: The £1.7bn TI Group Pension Scheme has completed a £640mn buy-in with Rothesay, covering its remaining uninsured members.
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NewsSchemes and asset managers told to buck up stewardship
On the go: Pension schemes and asset managers should embed stewardship “in every aspect of their relationship”, the Investment Association and the Pensions and Lifetime Savings Association have said.
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NewsLGPS escapes McCloud cost-cap breach
On the go: The Local Government Pension Scheme in England and Wales, alongside its Scottish and Northern Irish equivalents, has avoided the cost-cap breach suffered by a number of other public sector schemes resulting from the impact of the McCloud remedy cost on their 2016 valuations.
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NewsTwo-thirds of small schemes unaware of VfM requirements
On the go: The majority of schemes with less than £100mn in assets were unaware of their new value for money duties, with the Pensions Regulator prompting these pension funds to “either wind up or take prompt action to make improvements”.
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NewsOne in 10 pause contributions due to cost of living crisis
On the go: Around one in 10 savers have cut back or stopped contributing to their pension as a result of stagnant wages and inflation, according to a new report.
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NewsRise in number of DB schemes appointing advisers to continue
On the go: A growing number of defined benefit pension schemes are offering new benefits to members such as appointing a financial advice company, according to consultancy LCP.
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NewsTrustees urged to include ESG factors in covenant assessment
On the go: Accounting for Sustainability and the Employer Covenant Practitioners Association have teamed up to launch a “top tips” guide for considering environmental, social and governance risk in the employer covenant process, hailed by the Pensions Regulator chair Sarah Smart as “an important first port of call for trustees”.
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NewsOpperman: Employers should provide ‘rainy-day fund’ to keep staff
Pensions minister Guy Opperman has argued there is a need for employers to have a savings product offering, in addition to a pensions package, as a means of retaining staff.
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NewsFCA supports regulation of ESG ratings
On the go: The Financial Conduct Authority has expressed its support for the regulation of environmental, social and governance data and ratings agencies after consulting the industry.
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NewsGovt sets 2040 gender state pension gap goal
The government has revealed a goal of eliminating the gender state pension gap by 2040, while pointing to auto-enrolment as a tool to decrease the overall savings shortfall between men and women.
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NewsTPR supports actuaries’ climate report, Smart commits to net zero
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including a new climate change report for actuaries, Smart Pension announcing a net zero target for 2040, and savers supporting the government’s push for greener pensions.
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NewsAE levels out as employers seek change to age threshold
Workplace pension participation is stalling after reaching a rate of 88 per cent of eligible employees last year, according to new figures from the Department for Work and Pensions.