All Professional trustees articles – Page 8
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NewsSPP, PMI criticise rushed code of practice consultation
The Society of Pension Professionals and the Pensions Management Institute have both criticised the timeframe of the Pensions Regulator’s consultation on its combined code of practice, raising the prospect of its flawed and costly implementation.
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NewsGovt’s new anti-scam measures cause industry concern
Industry reaction to the government’s new consultation on pension scams and transfers have been far from unanimous, with many welcoming the intention but warning of the potential for thousands of legitimate transfers to be needlessly blocked and delayed.
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NewsUUK proposes USS governance reform, 20-year moratorium on exits
Universities UK, the employer group representing 340 Universities Superannuation Scheme members, has raised the prospect of a 20-year moratorium on scheme exits in a bid to show a greater commitment to covenant support.
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NewsTPR warns against hasty reactions to Covid-19 mortality figures
The Pensions Regulator has warned against hasty reactions to the Covid-19 pandemic, saying it is still “early days” in our understanding of how the virus has impacted longevity and life expectancy assumptions.
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PodcastsPodcast: Illiquids not necessarily the answer for DC
Podcast: Illiquid asset classes might seem attractive in theory, but there would be difficulties establishing them in a defined contribution pension portfolio, even if all the regulatory burdens were removed. Brian Henderson, partner and director of consulting at Mercer, is joined by Shola Salako, professional trustee at Dalriada, to discuss alternatives, putting the S in ESG, and fixing the problems with chair’s statements.
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NewsFirstGroup pension schemes benefit from asset sales
On the go: The pension schemes of multinational transport company FirstGroup stand to benefit from the £3.3bn sale of its First Student and First Transit assets to private equity company EQT Infrastructure.
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NewsDWP admits DC chair’s statements fail policy objective
The Department for Work and Pensions has acknowledged that the introduction of chair’s statements has failed to meet the policy objectives set out by the department in 2014.
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OpinionWhy we need greater diversity in trustee boards
I am an African and my name has always identified me. When I was in school, I remember being referred to as “that African girl” and there was pressure at the time to change my first name or make it sound ‘English’ — Shona instead of Shola. I am open about my background and identity and consider both a source of pride.
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FeaturesSole trusteeship on the rise amid calls for tougher regulation
Sole trusteeship onthe rise amid calls fortougher regulationWith sole trustees now accounting for onein three professional trustee appointments,there is a feeling in the industry that regulationis lagging this fast-growing sectorEnterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg {position: ...
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NewsJust 19 per cent say TPR criminal powers policy is 'adequately clear'
A mere 19 per cent of people said the Pensions Regulator’s draft policy on the use of its new criminal powers is “adequately clear”, while 65 per cent said they feared it could prompt companies to ditch their pension arrangements, leaving the regulator with much to do to win back industry trust.
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NewsTraditional trustee board model unfit for ‘purpose’
On the go: The traditional trustee board model has been branded “unfit for purpose”, as recent events have shown the importance of reacting quickly to changing circumstances.
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NewsIndustry calls again for clarity as TPR criminal consultation closes
The pensions industry has once again united in its calls for clarity as a consultation into the scope and application of the Pensions Regulator’s new criminal powers comes to a close.
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NewsAlmost £2m lost to pension fraud so far in 2021
On the go: Action Fraud is warning savers to remain vigilant and protect their pensions, as new research from the national reporting centre for fraud and cyber crime reveals that £1.8m has already been lost to pension fraud in 2021.
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Schemes to spend £1.5bn on GMP equalisation past transfer top-ups
New research from Buck suggests the bill for equalising guaranteed minimum pension benefits in past defined benefit scheme transfers continues to grow, with at least £1.5bn needed for schemes to top up these historic transactions.
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NewsCloud-based data recovery service wins industry praise
A new cloud-based service promising independent data backup facilities for pension schemes has won praise from industry experts, who hailed it as an “innovative solution” to the rare but worrisome prospect of administrator failure.
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PodcastsPodcast: Treasury admin fund could help tackle McCloud
Podcast: The Treasury should create a fund to help schemes cope with the administrative load of the McCloud remedy. So says Ray Martin, director at HS Sole Trustees, who is joined by Pensions Administration and Standards Association chair Kim Gubler to discuss TPR’s new climate change agenda, the NAO’s warning about the burdensome McCloud judgment, and a bizarre proposal for a national pension fund.
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NewsAon criticises USS valuation assumptions as ‘overly prudent’
Aon has criticised the methodology and assumptions underlying the Universities Superannuation Scheme trustee’s response to the USS valuation, accusing it of being overly prudent and failing to properly justify several of its assumptions.
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NewsBridging pension option smooths Rolls-Royce scheme restructure
The introduction of a bridging pension option in the Rolls-Royce UK Pension Fund has helped smooth the transition for its members following a scheme restructure announced in May 2020.
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NewsUUK consults on way out of USS valuation wrangle
Universities UK, the employer group representing 340 Universities Superannuation Scheme employers, has opened a consultation on a range of measures intended to settle the long-running feud over the 2020 USS valuation.
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PodcastsPodcast: TPR’s criminal powers policy will evolve with experience
Podcast: The Pensions Regulator’s policy around the use of its controversial new powers “will evolve” in response to evidence, court cases and industry experience, its director of regulatory policy, analysis and advice revealed.