All articles by Stephanie Hawthorne – Page 14
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British Airways agrees settlement with APS
British Airways has finally agreed an out of court settlement with the trustees of the Airways Pensions Scheme.
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Govt greenlights dashboards but timetable questioned
On the go: Pension schemes will be allowed up to four years to submit data to the pensions dashboard, sparking concerns that services appearing later this year will not be comprehensive.
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Church of England scheme gives ultimatum to mining companies
On the go: In the wake of the collapse of the tailings dam in Brumadinho, Brazil, which killed at least 84 people and left hundreds missing, 96 institutional investors have been stirred into action.
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L&G legacy pension members face higher charges, finds IGC
On the go: In its fourth annual report, Legal & General's independent governance committee gave the company an overall high score, but flagged up steep charges on legacy pension products.
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PLSA policy board sets priorities for next four years
On the go: The Pensions and Lifetime Savings Association’s new policy board has set its priorities for the next four years, with specialist sub-committees formed for defined benefit and defined contribution schemes, local authority schemes and master trusts.
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Workers unaware of auto-enrolment contribution hike
On the go: More than a quarter of workers are unaware of automatic enrolment increases taking effect from Saturday, according to Aviva research.
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‘Large casualties’ expected as master trust authorisation window closes
On the go: Thirty master trusts have applied for authorisation to the Pensions Regulator by the closing date for applications of March 31. A further 10 schemes have been granted an extension and are expected to file an application in the coming weeks.
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FTSE 350 pension deficit reaches 18-month high
On the go: The UK’s 350 largest listed companies have seen the deficit of their defined benefit pension schemes reach an 18-month high, increasing from £45bn at the end of February to £55bn by the end of March, according to Mercer.
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Transfer values rise sharply during March as demand remains high
On the go: Pension transfer values rose substantially during March, peaking at almost £251,000, according to consultancy XPS Pensions.
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Pension professionals distrust consolidation, finds PMI poll
On the go: A significant minority of pensions professionals are distrustful of both defined contribution and defined benefit consolidation, according to a poll from the Pensions Management Institute.
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Select committee gives pension industry low marks for transparency
On the go: The pensions and financial inclusion minister Guy Opperman, and John Glen, the economic secretary to HM Treasury, were grilled by the Work and Pensions Committee investigating pension costs and transparency on Wednesday.
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NewsEmployers and academics rail against new USS contribution rate
Employers and workers alike have expressed concern over proposed contribution hikes to Britain’s biggest private sector pension scheme, the £63bn Universities Superannuation Scheme.
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Covenant risk tops trustees’ list of concerns
On the go: Employer covenant risk is defined benefit pension schemes’ greatest worry, according to a poll of 42 trustees and their advisers by professional trustee company PTL.
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Trustees lukewarm on consolidator benefits
On the go: Most defined benefit trustees doubt the ability of commercial consolidators to improve their members’ security, according to a new survey that also reveals widespread ignorance of the two new players in the market.
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Life expectancy in London boroughs varies by 20%
On the go: There are huge differences in life expectancy in the UK, even across neighbouring postcodes, data specialist CACI has found.
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Employers reject call for contingency contributions from USS
On the go: At least two employers, including the University of Oxford and the University of Sheffield, have rejected the call for contingent contributions in a consultation from Britain’s largest private sector pension scheme, the Universities Superannuation Scheme.
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PPF seeks member representative for board position
On the go: The Pension Protection Fund is taking a novel approach to recruitment, seeking a board member who has been compensated by the fund.
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National Pension Trust files for authorisation days before deadline
On the go: With just days to go before the deadline of March 31, the National Pension Trust has submitted its application to The Pensions Regulator for master trust authorisation.
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Third of people unaware of pensions tax relief
On the go: Across the UK, there are huge gaps in pensions knowledge, with 35 per cent of people unaware that the government contributes to pensions through tax relief.
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Spring Statement: Government responds to RPI flaws
On the go: The government is still considering whether to take action on problems with the retail price index, it was announced after the Spring Statement yesterday.