All articles by Stephanie Hawthorne – Page 12
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News
Rolls-Royce and L&G complete record £4.6bn deal
On the go: Rolls-Royce has completed a partial buy-in on the way to buyout in excess of £4.6bn, securing the benefits of around 33,000 members of the Rolls-Royce UK Pension Fund.
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Green seals vital deal with TPR to bolster pension fund
On the go: In a last-minute attempt to save his Arcadia empire on Tuesday night, Sir Philip Green sealed a deal with the Pensions Regulator that has the backing of the Pension Protection Fund for a crucial restructuring of the business.
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Regulator announces authorisation application from new master trust
On the go: The Pensions Regulator has revealed that a total of 39 master trusts have applied for authorisation, including one new master trust, as it indicates that new master trust schemes will face tougher supervision.
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More than £90bn saved in workplace pensions in 2018
On the go: Auto-enrolment continues to motor ahead with £90.4bn saved in workplace pensions last year, up £7bn from 2017, according to recent figures published by the Department for Work and Pensions.
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ESG risks could mean shallow returns for fish farming investors
On the go: Climate change could cripple the $230bn (£182bn) aquaculture industry, posing a hazard to pension fund investors, a new report by the Farm Animal Investment Risk and Return Initiative has revealed.
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UCU chief urges Trinity College to backtrack on USS exit
On the go: The University and College Union has written a last ditch open letter urging the fellows of Trinity College at the University of Cambridge to reconsider their withdrawal from the Universities Superannuation Scheme.
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Former charity chief pleads not guilty in £250k fraud
On the go: The former head of a charity for the disabled has pleaded not guilty to defrauding the charity’s pension scheme at a hearing at Winchester Crown Court on Tuesday.
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DB members transferring face adviser shortage as regulations bite
On the go: Nearly seven out of 10 advisers are wary of advising on defined benefit transfers, according to Aegon Research.
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AMNT blasts managers’ ‘blanket refusal’ to accept scheme voting policies
On the go: The Association of Member Nominated Trustees has lodged a formal complaint with the Financial Conduct Authority as asset managers of pooled funds, in almost a “blanket refusal”, are not accepting the stewardship voting policies of their pension scheme clients.
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600 Group completes £201m buyout with PIC
On the go: Yorkshire-based engineering firm 600 Group has finalised the buyout of its UK pension scheme liabilities with Pension Insurance Corporation.
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TPR replaces DC pension trustees at Dunnes Stores
On the go: Pension trustees at Northern Irish high street retailer Dunnes Stores have been stopped by the Pensions Regulator from running the company’s defined contribution scheme.
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Schemes set to face UK credit capacity crisis
On the go: With two-thirds of FTSE 350 pension schemes in negative cash flow, fears are mounting that there may not be enough high-quality assets to go around.
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MoJ underpays pension payments to 25 judges
On the go: The Ministry of Justice has short-changed 25 members of the Judicial Pensions Scheme who have been underpaid in their pensions. The underpayments totalled £53,917.
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NewsCambridge academics threaten to ‘greylist’ Trinity College if it leaves USS
Two-hundred-and-fifty Cambridge academics have signed an open letter condemning a proposal from Trinity College to withdraw from the Universities Superannuation Scheme and to set up its own private pensions scheme.
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TPR expresses 'grave concerns' over USS funding proposal
On the go: In a leaked email to Universities Superannuation Scheme, The Pensions Regulator has expressed “grave concerns” over an option for finalising its 2018 valuation that could delay funding pressures into the future.
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Templates launched to improve cost transparency in £2tn industry
On the go: The Cost Transparency Initiative has unveiled its templates and guidance for asset managers and suppliers of services to pension schemes, encouraging reporting of costs and charges in a standardised format so trustees can easily compare managers and asset classes.
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FTSE 100 pensions schemes face £100bn hit
On the go: Impending accounting standards changes could hit FTSE 100 pension schemes by up to £100bn with more than a quarter being hit to the tune of £1bn, according to consultancy LCP.
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Light at end of tunnel in Barnet admin fiasco
Long-running issues with poor-quality data at the London Borough of Barnet Pension Fund, administered by Capita, are at last showing some signs of improvement.
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News
TPR targets employers who flout auto-enrolment law
On the go: Employers who avoid their auto-enrolment pension duties are being targeted by the Pensions Regulator in a new round of short-notice inspections.
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UK schemes deficit falls to £6.4bn
On the go: The aggregate deficit of the 5,450 UK defined benefit schemes in the PPF 7800 Index fell to £6.4bn at the end of April 2019 from £43.9bn at the end of March 2019.