All Sackers articles – Page 3
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News
Siemens completes £530m buy-in with L&G
On the go: Industrial manufacturer Siemens has completed a £530m* buy-in for Siemens Benefits Scheme with Legal & General, covering more than 2,000 pensioners.
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News
PLSA publishes SIP reporting guidance ‘just in time’
The Pensions and Lifetime Savings Association has published guidance providing “practical steps” for defined benefit and defined contribution trustees on how best to publicly disclose their activities in line with upcoming requirements.
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OpinionDB to DC transfers: time for trustees to do more?
For many people, giving up a guaranteed income for life will not be in their best financial interests, and yet record numbers are transferring their benefits out of defined benefit schemes and into defined contribution. Is it time for trustees to do more to help members?
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News
How can schemes make ESG compliance meaningful?
Analysis: The UK pension industry’s first attempt at compliance with new sustainability reporting rules has left campaigners unimpressed, to say the very least.
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News
Lords’ climate amendment could dilute trustee power
An amendment to climate risk provisions in the pension schemes bill could force schemes to align their investment strategies with the Paris agreement, going one step further than the government’s own provisions for reporting against sustainability criteria.
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News
United Biscuits awaits CJEU ruling in long-lasting VAT saga
On the go: The trustees of United Biscuits’ defined benefit pension scheme are waiting for a final ruling from the Court of Justice of the European Union, after the advocate general sided with HM Revenue & Customs on a long-lasting battle on value added tax.
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News
Cash-strapped money printer cuts deficit repair contributions
British banknote printer De La Rue has cut deficit repair payments to its defined benefit pension scheme, contingent on the success of its bid to raise an extra £100m in capital.
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FeaturesDoes lockdown shift leave pensions exposed to cyber crime?
Analysis: Covid-19 is not the only invisible threat looming over some of the UK’s most vulnerable citizens.
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News
WPP shifts further £250m with PIC buy-in
On the go: Advertising giant WPP has entered a £250m buy-in contract with the Pension Insurance Corporation, adding to a £140m transaction already completed with the same insurer in 2018.
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News
Pension Ombudsman awards Police Scotland employee £2,000
Lawyers have cautioned employers to keep their members fully informed of any pension benefit changes, after the Pensions Ombudsman awarded a Police Scotland employee £2,000.
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News
HSBC ahead of curve with TCFD compliance
As the government seeks powers to mandate pension schemes to disclose their climate change risks, the HSBC Bank (UK) Pension Scheme is already on its second report under the Task Force on Climate-related Financial Disclosures.
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NewsTCFD reporting confirmed as climate guidance takes shape
Trustees should stress-test their portfolios against a range of climate change scenarios, according to provisional guidance launched on Thursday, as pensions minister Guy Opperman warned of consequences for those in dereliction of their duties.
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News
Pensions experts predict RPI limbo for years to come
Experts have condemned delays in publishing a long-awaited consultation on reforms to the retail price index, since its outcome could radically alter the fortunes of pension funds and pensioners.
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News
Landmark vegan case could disrupt pensions industry
A landmark ruling finding that veganism is a philosophical belief will have a wider impact in the pensions industry, experts say, but warn trustees to avoid making knee-jerk changes to their schemes.
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Features
Authorised master trusts look ahead to supervision
The newly authorised master trust sector is bracing itself for a further increase in regulatory scrutiny as the supervision regime takes hold, since one-to-one supervision and annual statement requirements could amount to something approaching a “mini-authorisation” once a year.
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News
Trustees receive positive sign from ombudsman on scam checks
Trustees and administrators must maintain the utmost vigilance against scammers, industry experts warn, despite a Pensions Ombudsman determination on a £367,601 loss to fraudsters favouring the ceding pension scheme.
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News
National Grid completes £1.6bn buy-in with Legal & General
On the go: The National Grid UK Pension Scheme has completed a £1.6bn buy-in with Legal & General.
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News
Trustees vindicated in RPI/CPI switch complaint
The Pensions Ombudsman sided with pension scheme trustees in two separate cases over the decision to switch their inflation measure away from the retail price index.
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News
Is regulation needed to avoid pre-pack abuse?
The government is considering legislation to prevent companies from abusing pre-pack administration to dump pension liabilities into the Pension Protection Fund, but some experts say further regulation is unnecessary.
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News
HSBC scheme agrees £7bn longevity swap package
On the go: Trustees of the HSBC Bank UK Pension Scheme have agreed the second-largest longevity swap in UK history, insuring £7bn of the scheme's liabilities against living too long.