All articles by Sarah Cowburn – Page 2
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News
LGPS to meet cost of GMP inflation proofing
A quirk in regulation could leave the Local Government Pension Scheme and several other public sector arrangements responsible for meeting the costs of inflation-proofing the benefits of members retiring between April 2016 and December 2018.
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News
Tax relief off the table but Budget could still bring surprises
The chancellor is reported to have shelved anticipated changes to pensions tax relief ahead of next week’s Budget, but industry commentators predict a further wrangle of the landscape could still be afoot.
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NewsSwallowfield charts new route with scheme closure
The latest scheme to pull up the drawbridge on defined benefit accrual, Swallowfield has enhanced its defined contribution offering for members, but consultants have urged caution against “sleepwalking” into bigger deficits.
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News
Barclays scheme probes impact of ringfencing
Barclays is assessing which of its entities will participate in the bank’s UK Retirement Fund from 2026, when ringfencing regulations become fully effective, as schemes across the sector face up to complex covenant questions.
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NewsCostly equalisation error: Morrisons handed £100m liability by High Court ruling
A High Court ruling on the benefits for 15,000 former Safeway workers has added a £100m liability to current owner Morrison’s defined benefit obligation, pointing to the difficulties involved in equalisation.
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FeaturesUnilever refines DB and DC investment after review
Pension fund trustees at consumer goods giant Unilever undertook a review of the UK pension scheme's overall strategy last year and have implemented several changes across the defined benefit and defined contribution sections.
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FeaturesMarket effects of possible Brexit throw up investment questions
Analysis: Trustees must consider how growing uncertainty over the UK’s future in the European Union could hit their holdings, consultants have said, identifying both headwinds and opportunities en route to the referendum.
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NewsSelf-employed savings gap a 'ticking time bomb'
Pension arrangements for self-employed workers are in need of urgent review, MPs have been told, as industry figures consider the next steps for workplace pension policy.
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Features
BMA hunts for yield with long-lease property
The British Medical Association Pension Scheme has invested in long-lease property since 2007, enabling the fund to 'smooth the ride' through long-term property cycles while securing a fixed income stream.
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News
LGPS meets first pooling landmark
The Local Government Pension Scheme submitted initial proposals for asset pooling last week, but talks between funds are ongoing as the scheme works to meet government benchmarks.
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FeaturesIsle of Man faces up to DB sustainability question
The Isle of Man government last week made clear its intention to further reform public sector pensions on the island, a microcosm of UK schemes struggling to remain sustainable.
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Features
Weathering the storm: How to tackle scheme closure
Analysis: Defined benefit scheme closures present significant challenges to all parties involved, but how can sponsors ensure they engage their workforce in meaningful consultation?
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News300 Scots hit by pension scam as advice gap persists
Scottish police are investigating a £10m pension liberation fraud that has targeted more than 300 people north of the border – a reminder for the industry of members’ vulnerability to evolving fraudulent operations.
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Features
BA transfer value review puts spotlight on older members
Trustees of the British Airways Pension Scheme have rebalanced the scheme’s transfer value basis towards younger members, but anticipate the net impact of the shift will be cost neutral to its funding position.
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News
'Gold standard' pensions unattainable for most
Average earners targeting a “gold standard” pension of two-thirds pre-retirement income will need to work to age 77 at statutory minimum contribution levels, a new report has projected, underscoring the key role default levels will play as auto-enrolment matures.
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FeaturesThomson Reuters trailblazes in-scheme drawdown, but obstacles remain for small schemes
US-based media company Thomson Reuters has opted to provide in-scheme flexi-access drawdown to UK members in response to pension freedoms, bucking the trend for occupational trust-based scheme offerings in the new environment.
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NewsNew report demystifies DC asset security
A new report from the Security of Assets Working Party will provide some much-needed guidance on defined contribution asset security and compensation, advising trustees to adopt a “pragmatic and proportionate approach” to a highly technical area.
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NewsOmbudsman ill-health decision underscores complexity for members
Schemes have been urged to maintain open channels of communication with employers and members around ill-health benefits after an ombudsman determination ruled against a member’s attempt to "rewrite history".
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FeaturesFinancial pressures and demise of DB affect millennials' pension expectations
Feature: Three-quarters of UK employees expect to be be poorer in retirement than their parents, reversing the apparent laws of financial progress.
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News
Behind the painted veil: How transparency influences retirement outcomes
The pensions industry must address conflicts of interest ingrained across its systems, delegates heard at the transparency symposium last week, as the Financial Conduct Authority clamps down on the asset management industry.